GEFCO Group has announced revenue of €2.262 billion ($2.7 billion, up 1.9%) and EBITDA of €115 million (up 25.8%) for the first half of 2017.
Luc Nadal, Chairman of the Management Board of GEFCO Group, said: “At mid-year, GEFCO confirms the positive trend of its operational and financial performance already shown in 2016, with a growth in EBITDA of 25.8 %. Moreover, the growth of revenues of 1.9% demonstrates the strength of our relationships with our historical customers and the continuing strong commercial performance in our broader customer base where we have achieved a 6% increase.”
Confirmed operational and financial performance
In the first half of 2017, the GEFCO group achieved a turnover of €2.262 billion, up 1.9% compared to the same period in 2016, driven mainly by the recovering European car market, a strengthened European economy and the continuing focus to expand its customer portfolio across global accounts.
The EBITDA for the first six months of the year amounts to €114.8 million, increasing by 25.8% compared to 2016’s first half. This significant improvement in profitability is the result of the proactive policy launched by GEFCO to optimise procurement management and reduce fixed costs. The Group’s “asset-light” business model also contributed to efficient cost management by the company. With very little debt, GEFCO is in a sound financial situation.
Diversification driving growth
With over 65 years of expertise acquired in the automotive industry, one of the most complex and demanding logistical sectors, GEFCO operates worldwide to manage and optimise complex supply chains. The new 2017 contracts are concrete evidence and recognition of its unique know-how. This is highlighted by the extended partnership with Volkswagen in Argentina for its Rosario and Buenos Aires plants, with Auto 1, a leader in the e-business of second-hand cars, in Central Europe, and with BMW in the UK, where GEFCO provides a range of driven vehicle and compound management services for new cars and motorcycles, together with a de-fleet solution for end of first life vehicles.