Norbert Dentressangle finished the first quarter with revenues of 949 million euros ($1.23 billion), a 1-percent, year-over-year decline due to lower volumes across all sectors.
The company experienced a 4.1-percent drop in transport revenue, but logistics revenue increased by 3.4 percent to 436 million euros ($566.79 million). Freight forwarding saw a slight bump up, 1.4 percent, to 33 million euros ($42.9 million).
Officials attribute the transport revenue decline to the greater amount of public holidays this year when compared to 2012. If this lower level of activity is accounted for, 2013’s first-quarter results were stable, year over year, according to the company. The logistics arm benefited from increasing activity in the United Kingdom, Italy and the Netherlands. Freight forwarding performed well, officials said, despite the poor sea and air markets.
Norbert Dentressangle’s Herve Montjotin said the solid results show a welcome level of activity and prove the company is growing despite the European economic environment. The French economy plays a big role in the company’s health, as 42 percent of its business is generated in the country.
“Against this backdrop, the group has maintained a sharp focus on its operational management and continues to focus on cost control in relation to business volumes handled for its clients, particularly in the Transport business,” he said in a statement. “Beyond that, we have confidence in the future benefits of our international development strategy, which is aimed at strengthening transport in Central Europe, establishing logistics outside Europe, and expanding our freight forwarding network worldwide.” – Jon Ross
Norbert Dentressangle’s 1Q marginally affected by European economy
