The GEFCO group, a global player in industrial logistics and European leader in automotive logistics, generated a turnover of €2.2 billion during the first term of 2016, up to 3.5% compared to the same period in 2015.
According to Luc Nadal, Chairman of the Management Board of GEFCO Group: “These positive results for the first half of 2016 reflect GEFCO’s high ability to increase its competitiveness while delivering the best logistics solutions for its customers, even in an unstable economic environment.”
Operational and financial performance
In the first half of 2016, the GEFCO group achieved a turnover of €2.2 billion, up to 3.5% compared to the same period in 2015. This increase was driven mainly by the freight forwarding activity following the acquisition of IJS Global at the end of 2015, as well as by the market recovery of the European car market and the growth among large industrial customers. In particular, growth was generated in Western Europe, the Maghreb countries and Central and Eastern Europe.
The EBITDA for the first six months of the year amounts to €91.3 million, increasing by 27.5% compared to 2015’s first semester. This significant improvement in profitability is the result of the proactive policy launched by GEFCO aiming at optimising procurement management and reducing fixed costs, in a favorable context of oil price stability.
With very little debt, GEFCO demonstrates a 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 unrelenting efforts of GEFCO’s teams allowed the Group to expand its customer portfolio, including major accounts.
More diversified clients’ portfolio
As the preferred logistics partner for leading automotive manufacturers and suppliers, GEFCO operates worldwide to manage and optimise complex supply chains. The new 2016 contracts are the concrete evidence and recognition of its unique expertise in one of the most demanding sectors. This is highlighted by the contracts signed with Fiat in Brazil for the transport of spare parts, with SNOP, equipment manufacturer for 4PL services in France and with the Dongfeng Liuzhou manufacturer for storage services in China.
Globalisation as a foundation for development
With an intercontinental network of 300 locations throughout the world, GEFCO offers global logistics solutions to support its customers’ international development.
In 2016, GEFCO has finalised the acquisition of the Dutch freight-forwarding company IJS Global. Present in 16 countries, the company has strengthened GEFCO’s presence and offering in the major geographic areas for the freight forwarding activity, i.e. China and South-East Asia, Australia, New Zealand, as well as the US. This geographical expansion has extended the number of subsidiaries to 44 and GEFCO can now provide truly global services for manufacturers in all five continents.
Luc Nadal added: “This first 2016 semester represents a significant rebound in GEFCO profitability. They show GEFCO’s capacity to create value for our customers and partners, even in challenging environments.”