GLS sees annual increase in turnover and volumes
European parcel firm GLS Group described its annual turnover as “satisfactory”, whilst announcing a growth in parcel volumes for the year. In its annual results for 2010, GLS revealed that turnover rose from EUR 1.68bn to EUR 1.75bn. The Group’s EBITDA also grew from EUR 132m to EUR 145m – a 10% increase.
Volumes across Europe also grew – up 5.2% to reach a total of 363m shipments.
Commenting on the results, CEO Rico Back said: “Economic conditions in most European markets have improved. This is reflected by our volume increases. However, parcel prices in this very competitive market still remain at an unsatisfactory level.
“We are nevertheless pleased with our result. GLS is not primarily focused on increasing its market shares. Our aim is sustainable, sound growth and a stable customer base. We will continue to invest in our network and the quality of our services.”
GLS confirmed it is to invest around EUR 60m during the 2011/12 business year, primarily expanding its network capabilities and its IT infrastructure.
Back expects the parcel market to continue to recover in the new business year: “We are expecting a turnover increase of about 5% throughout Europe,” he said.
“However, cost pressures will not decrease, so process and network optimisation will remain an important topic.”
