European logistics service provider Vos Logistics has reported a 5% increase in its turnover to €290 million ($356 million) in 2017.
EBIT was 16% higher at €8.0 million and net profit advanced from €2.5 million to €3.5 million. The acquisition of Gebroeders Joosten in Nederweert at the end of December strengthened the company’s position in the bulk volume and distribution markets in the Benelux. Vos Logistics expects a further increase in its turnover and results in 2018.
Investments in a future-proof business
Vos Logistics invested €38 million in 2017, more than twice the amount invested in 2016. The company acquired 320 new trucks and 350 new loading units. It also invested in its digital information and communication platform in order to better meet its customers’ wishes, simplify business processes and increase efficiency.
Lighter carbon footprint
CO2 emissions were reduced by 3% to 0.035 kg per tonne/kilometre. The reduction was attributable to the fleet renewal, better loading efficiency and targeted driver training to reduce fuel consumption. The increase in the number of LNG trucks and collaborative programs with customers to reduce empty kilometres also contributed to the reduction.
Frank Verhoeven, CEO of Vos Logistics, can look back on a good year in which market conditions improved, especially after the summer, and turnover and results increased. “Apart from the improvement in results, we laid the foundations in 2017 for future change. Logistics processes are growing in complexity. But technological advances are enabling us to develop faster, simpler and smarter propositions in collaboration with our customers. ‘We simplify. Whatever it takes’ is what we stand for. We’re doing so by digitising, by investing in intelligent planning solutions and by innovating.”
“We are in good shape”, added CFO Ben Vos. “Our financial base is solid. We have paid off a €7 million mezzanine loan in full and invested €38 million at the same time. Our investments in fleet renewal, loading capacity and digitisation will rise to €43 million in 2018. With our clear service offer and higher volumes, we are in a good position for further growth in 2018.“