March 1 - Panalpina's gross profit for 2015 decreased 7.1 percent year-on-year to CHF1.47 billion (USD1.46 billion), while its EBIT was slightly up compared with 2014 at CHF117.2 million (USD117.1 million).

Panalpina's air freight volumes decreased 2.5 percent year-on-year in 2015, which the company attributed to lower volumes from customers in the oil and gas and automotive industries.

Ocean freight volumes also decreased by 0.8 percent compared with the previous year, while the profit of Panalpina's logistics business decreased by 10.7 percent year-on-year to CHF409.3 million (USD409.2 million).

However, the logistics division achieved a positive EBIT of CHF2.1 million (USD2.09 million), compared with a CHF8.2 million (USD8.19 million) loss in 2014.

"We have maintained profitability in a year that was characterised by a soft market, the low oil price, negative currency impacts and high IT investments on our end," said Panalpina ceo Peter Ulber. "The results prove our resilience in more difficult times."