Wilson Logistics on track for billion dollar target
Swedish based freight forwarder Wilson Logistics has announced that its net revenues increased by 23% in the first quarter 2003 compared with the previous year. Although no exact figures were released, chief executive, Henrik von Sydow, also stated that profits had exceeded this level of growth.
Wilson Logistics has been growing rapidly since it became independent from Schenker in 1999 following the acquisition of BTL. In 2002 net revenues reached SEK 5,970m (€652m), an increase of 9% over the previous year and its profits were SEK 140m (€15m). As a result of a number of acquisitions, turnover is likely to reach SEK 7,000m (€765m) in 2003. Its core market is in the Nordics but acquisitions have given it global operations.
Wilson Logistics clearly has major ambitions for future growth. Its plan is to achieve a turnover of over a billion dollars (€867m) within the next 2-3 years. To this end it is planning an IPO this year if market conditions and performance of the company is appropriate. Given that Wilson has been able to buck the economic downturn which has been affecting many other logistics companies, this seems likely to go ahead. The capital which this would make available would give Wilson the ability to pursue its global expansion plans and many more acquisitions could follow. This quarter’s results confirm that the company is certainly one to watch for the future.
