Record for Panalpina
All group figures for the year 2000 of the Swiss logistics group Panalpina Welttransport (Holding) AG, Basel, register considerable increases compared to the previous year. While gross revenue grew by 26.4% to CHF 6879 million, gross profit climbed by 23.5% to CHF 1188 million. Operating profit (Ebit) and group profit also recorded growth rates of over 26% each, with CHF 130.8 million and 92.8 million, respectively. The positive results can mainly be attributed to a more than proportional growth in air and sea freight and to the successful expansion of services in supply chain management, as well as to cost reductions through process optimization (see ITJ 6/2001, pages 8-9). Panalpina will announce further information on the results for the year on May 4 in Zurich.
Repurchase of holding in SAir capital
Given the SAirGroup’s financial problems, Panalpina’s main shareholder, the Ernst Göhner foundation, has bought back SAirGroup’s 10% stake in Panalpina Holding as well as the 45% share in SwissGlobalCargo held by SAirLogistics (a division of the SAirGroup). Bruno Sidler, chairman of Panalpina’s board, stressed that the financial disentangling will not influence the close cooperation between Panalpina and the SAirLogistics subsidiary Swisscargo, for whom Panalpina is the most important large customer.
Expansion in South Africa
In South Africa, Panalpina will from now on be represented not only by Safcor Panalpina, but also by the South African forwarder Renfreight. Since the EGL sale, the company, formerly associated with Circle, now belongs to the Bidvest Group, of which Safcor Panalpina is also a part. Renfreight and Safcor work for different customer segments, however, and will continue to operate separately. The cooperation agreement with Renfreight is a logical step for Panalpina in order to expand its presence on the South African market.
