FRANS MAAS REPORTS JUMP IN REVENUES
Koninklijke Frans Maas Groep N.V., the Dutch forwarding, trucking and logistics services group, reported a 35-percent increase in its net revenues for 2000, to euro 942 million ($885 million), from euro 700 million in the previous year.
Most of the growth in revenues came from acquisitions.
At the beginning of last year, Frans Maas completed its acquisition of HIM Furness’ logistics activities. Last July, the group acquired the German company Kochtrans. In the final quarter of the year, Frans Maas acquired a number of activities from Lehnkering Logistik GmbH in Stuttgart, Germany, Barcelona and Irun, Spain. The group also announced recently the acquisition of Kombitrans Spedition GmbH in Hamburg, completed in January.
Frans Maas reported a net annual profit of euro 18 million ($17 million) for 2000, up 10 percent when compared to euro 17 million in the previous year. Operating profit increased by 13 percent, to euro 32 million ($30 million), from euro 28 million.
Commenting on last year’s results, Frans Maas said that an “explosive increase in fuel prices” could not be passed in full to customers, despite scarce supply in the European transport market. “Tariff increases will be required to improve the margin in 2001,” the company said.
Frans Maas operates a network of 175 terminals and distribution centers in 25 European countries.