Integration of Christian Salvesen is one of the major challenges, is a key challenge of Norbert Dentressangle’s three year development plan, “Passion Rouge 2010”, the group has said.
“The main strategic avenues of the ‘Passion Rouge 2010’ business plan are solid organic growth with the roll-out of the group’s range of transport and logistics services in all European countries and stepping up efforts to promote and increase awareness of sustainable development.
The group’s ambition for the end of 2010 is to generate revenue approaching four billion euros with an EBITA of five per cent of revenue.
“Gearing should remain around the level achieved in 2007 given the change in financing method for Christian Salvesen vehicles.”
Sales for 2007 were 1,804 m euros – up 12.2 per cent with an EBITA of 4.6 per cent (4.4 per cent after the integration of Christian Salvesen).
In 2008, Dentressangle’s aim is to achieve organic growth of between six per cent and eight per cent at constant exchange rates. Recurring operating income will increase sharply compared to 2007.
EBITA will be impacted by the lower current profitability of Salvesen. In 2008, expenses linked to the implementation of synergies will be offset by the gains expected. From 2008, it expects cost savings of 2m euros.