Geodis sees 37% revenue jump for H1

Geodis has announced that company revenue has soared by 37.1% for the first half of 2010. Revenue for the first six months of 2010 amounted to just over €3.1bn, up 37.1% or €841.6m over the prior-year period.

Changes in the scope of consolidation in 2009 and early 2010 contributed €523.5m in new revenue. The currency effect had a positive €52.8m impact on first-half revenue.

On a comparable structure and exchange rate basis, revenue rose 11.7%, or €265.3m, from first-half 2009.

Thanks to revenue gains and careful cost management, Geodis returned to an operating profit in first-half 2010, with a €40.2m improvement over the period.

All of the Divisions contributed to revenue and earnings growth, particularly Freight Forwarding, which benefited from a recovery in volumes in the trade lane Asia – Europe and Groupage, which is reaping the fruits of its reengineering plan established in early 2009.

The integration of recent acquisitions – including Cool Jet, Sealogis, STSI, Chevallier, Ciblex and Giraud – is proceeding in accordance with the business plans. These new activities reported an aggregate operating profit at 30 June 2010, in line with forecasts.

In particular the new division 4 PL, called GSCO “Geodis Supply Chain Optimisation” after a successful integration of the activities of IBM Global Logistics, began the deployment of this new offer which meets success with its customers, Geodis said.