March 6 - Panalpina's net forwarding revenue in 2014 remained stable at CHF6.7 billion (USD6.86 billion), compared with CHF6.75 billion (USD6.91 billion) in 2013, while gross profit increased by 2 percent year-on-year to CHF1.58 billion (USD1.61 billion).
Panalpina's airfreight volumes grew 4 percent in 2014, slightly ahead of the market, which saw a 3.5 percent growth; while the company's ocean freight volumes grew 7 percent year-on-year.
Gross profit of the group's logistics product continued to grow by 5 percent to CHF458.2 million (USD469 million) in 2014.
"All in all, it was a successful year. With plenty yet to do, all eyes are now on 2015," said Panalpina ceo Peter Ulber. "We remain very focused on executing our strategy in 2015."
Ulber added: "Given the record low oil price, we expect some headwinds in oil and gas exploration and production activities, but this could also create opportunities in re-engineering supply chains end-to-end and outsourcing. Currency translation will impact our financial results because of the strong Swiss franc."
Panalpina expects the airfreight market to grow by 3 - 4 percent and the ocean freight market by 4 - 5 percent in 2015. The company says that it aims to outperform the market in all segments.