Automotive logistics specialist Gefco increased turnover by three per cent last year to €4.2 billion, though EBITDA fell 18 per cent to €160 million.
It said profits had been hit by a decline in oil prices, the economic crisis hitting hard countries such as Russia and Brazil, and difficulties experienced by car makers in Latin America and Russia are the key reasons of this setback.
Luc Nadal, chairman of the management board, said: “Gefco achieved good results in 2015 in an unsteady global economic context and succeeded in further enhancing its position of global logistics solutions provider. The Group expanded its international footprint by opening new countries and acquiring the Dutch company IJS Global, while broadening its offering in freight forwarding and customer portfolio. I see the Group’s performance as a tangible proof of our customers trust in Gefco’s expertise: they know how much Gefco’s teams are committed to adding value at every stage of their logistics chain.”
Gefco has been rolling out a diversification strategy including multimodal transport plans designed and operated by Gefco for Schneider Electric in Europe and the Balkans, for Alstom Transport between France and Kazakhstan, as well as for Eska Graphic Board, a Dutch manufacturer and exporter of high-end graphic cardboard, from the Netherlands to the rest of the world.
Gefco has also been developing its develops its 4PL activities as a logistics integrator. In addition to its contract with General Motors started in 2012, the group took on a contract with Ferronordic Machines for managing multimodal flows across Russia for heavy and oversized machineries of Volvo Construction Equipment.
In October last year, Gefco acquired the Dutch freight forwarding company IJS Global strengthening Gefco’s presence in China and South East Asia on the one hand, and the US on the other hand.