GeodisÆ annual revenue jumps 26%
French trucking, forwarding and logistics group Geodis on Tuesday reported annual revenue increases of 26.4 percent, including the acquisition of TNT Freight Management (now Geodis Wilson) last February, and 5.4 percent higher sales on a like-for-like basis.
On a reported basis, the group’s revenue for 2007 increased to 4.78 billion euros ($3.68 billion) from 3.78 billion euros in 2006.
Geodis’ revenue from its groupage business rose 4.6 percent compared with the previous year to 1.76 billion euros ($1.35 billion).
The freight forwarding division, including Wilson, reported revenue up 109.4 percent to 1.69 billion euros ($1.30 billion). “The integration of Wilson doubled the size of the network and enabled Geodis to acquire significant positions in Asia ' This satisfactory growth rate was achieved despite the temporary disruption caused by the merger of the Geodis and Wilson networks. The group considers that the operational integration of Wilson is now complete,” Geodis said in a statement.
The group’s contract logistics revenue for 2007 rose 4.4 percent on a reported basis to 832.7 million euros ($640.8 million) due to “the rapid expansion of automotive logistics business and the start-up of new contracts in the second half.”
Annual revenue from Geodis’ full truckload business increased 1.2 percent to 584.7 million euros ($449.9 million). “Revenue from new contracts that began in the second half offset the ‘lost’ revenue from terminated contracts and lower chemicals volumes in the first half,” the company said.
Geodis has about 25,500 employees and a network spanning 120 countries. The group’s full 2007 results will be announced on Feb. 26.
Geodis? annual revenue jumps 26%
