Luc Nadal, Chairman of the Management Board of GEFCO Group, 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, whilst 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.”
In 2015, the GEFCO group achieved a turnover of €4.2 billion, up 3% compared to 2014. The Group produced a free cash flow of €173 million over three years, with very little debt, which demonstrates its sound financial situation. The performance plan initiated mid-2014 to increase its cost flexibility, alongside with the Group’s ‘asset-light’ business model, contributed to an efficient cost management by the company. In the meantime, the Group kept on expanding its customer portfolio and achieved an increase by 9.5% of its revenue with international industrial customers.
The EBITDA is lower than in the previous year (-18%). 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.
Finally, unrelenting efforts of GEFCO’s teams have laid solid foundation for the future and enabled the GEFCO group to maintain its position among the top ten European logistic integrators, and its number one status in Europe for Finished Vehicle Logistics.