Norbert Dentressangle has reported a 31 per cent drop in recurring operating profit to 32.1 millions euros for the first half of 2009.
However, the group is confident as it approaches the second half of the year as it saw some recovery during the second quarter.
EBITDA was down 14 per cent on last year at 77.5 million euros. As a percentage of revenue EBITDA was at 5.8 per cent, a 0.2 per cent change on the previous year.
In the first six months of 2009, the group’s consolidated revenue totalled 1,347 million euros, down 15.8 per cent compared to the same period the previous year.
At constant exchange rates, consolidated revenue fell 13.1 per cent. Broken down by activity, transport revenue decreased 18.1 per cent, while revenue generated by the logistics business was down 6.2 per cent.
Looking forward, the group said it will remain attuned to adapting its resources and is poised to seize any new opportunities when economic conditions become favourable again.
Chief executive officer François Bertreau said: “In a severely deteriorated economic environment, the Norbert Dentressangle Group demonstrated its responsiveness for limiting the impact of our customer’s diminished activity on our sales and profitability.
“The strong commitment of all our employees enabled us to maintain robust commercial momentum and high quality service, while rapidly adapting our resources to actual business volumes. In view of the adjustments made and the group’s sound assets, we approach the second half of the year with confidence.”