Profitability improves at Panalpina

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Panalpina’s consolidated profit increased by 44 per cent year-on-year to CHF 24 million (£16.8m) in the second quarter.

Air Freight showed the first volume increase after nine quarters of declines and moreover grew ahead of market.

Ocean Freight continued to gain market share, and logistics value-added services continued their positive development.
“Our second quarter results show a slight recovery of our business,” said Peter Ulber, who took over at chief executive officer from Monica Ribar at the end of May.

“All our products managed to gain market share. Ocean Freight and Logistics show double-digit growth in terms of gross profit, and also Air Freight is growing again, albeit moderately.”

“We don’t expect any fundamental changes in the world economy but still anticipate a continuing recovery in our Air Freight business. Ocean Freight as well as Logistics Value-Added Services are on track and the group’s profitability is slowly recovering,” said Ulber.

“Our sales force will focus on growth in strategic trade lanes and the further development of a balanced customer portfolio. We will selectively invest in our business platform while strict cost management will remain a top priority.”

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