August 22 - Freight forwarder and logistics services provider Damco has posted revenues of USD1.53 billion for the first half of 2013, up 0.6 percent year-on-year.
However, it recorded an operating loss of USD2 million during H1 2013; in H1 2012 the company reported a profit of USD35 million.
EBITA before special items in H1 2013 was USD24 million, down from USD43 million when compared to the equivalent period of 2012. This was less than anticipated, caused by higher than planned costs to strengthen the organisation for the future in a number of key growth markets.
Damco saw its air freight volumes rise by 14 percent year-on-year, while supply chain management volumes rose 10 percent over H1 2012. Sea freight volumes contracted by 1 percent in H1 2013 over H1 2012.
"In weak markets we continue to invest in building the future with special focus on expanding our geographical coverage and rolling out our new global freight management system" said Damco ceo Rolf Habben-Jansen. "This is needed to enable future growth and to optimise our cost to serve. We will start seeing the benefits from this later this year and expect to see solid year-on-year improvements in the results from Q4 2013 onwards."