July 29 - Panalpina Group has seen Q2 2013 gross profit grow by 10 percent year-on-year to CHF399 million (UAD430.1 million). Revenue during that time grew by 3.53 percent to CHF1.72 billion (USD1.85 billion).
Earnings before interest, tax, depreciation and amortisation rose 58.4 percent year-on-year in Q2 2013 to CHF52.1 million (USD56.05 million). Consolidated profit recovered 43.6 percentage points to CHF24.1 million (USD25.98 million).
"Our second quarter results show a slight recovery of our business," said ceo Peter Ulber. "All our products managed to gain market share. Ocean freight and logistics show double-digit growth in terms of gross profit, and also air freight is growing again, albeit moderately."
Panalpina saw gross profit increases in all regions - the EMEA saw an increase of 9 percent to CHF196 million (USD211.3 million); Asian export volumes to Europe saw moderate growth and gross profit in Asia Pacific rose by 8 percent to CHF81 million (USD87.31 million). Gross profit in the Americas, driven by strong Latin American trade, grew by 12 percent year-on-year to CHF122 million (USD131.5 million).
According to Panalpina, ocean freight volumes are growing continuously and it shipped 5 percent more teu than in Q2 2012, setting a new company record for second quarter volumes and outperforming the market average of 2 percent growth in process.
In the air freight sector, Panalpina reported 3 percent volume growth as demand from healthcare and oil and gas customers rose substantially. It is the first volume increase after nine consecutive quarters of decline in the segment.