DANZAS EXPANDS RAPIDLY
Danzas, the Swiss logistics subsidiary of Deutsche Post AG, the German post office, last year showed a strong rise in income following acquisitions and substantial organic growth. Net turnover rose by 86.3 per cent to 8.289bn euros. Ebita rose from a loss of 27m euros to a profit of 113m euros. Figures for 1999 have been adapted to conform to IAS.
Three acquisitions accounted for 60 percentage points of turnover growth, while organic growth accounts for 26 percentage points. The company has benefited from a trend towards outsourcing by companies of logistics problems. Intercontinental business in air and sea transport was boosted by the integration of US-based Air Express International. In view of the US slowdown, the company is cautious with predications for 2001, and turnover is not expected to rise by the rate shown in 2000. Abstracted from Neue Zurcher Zeitung in German FT McCarthy – Copyright 2001 Financial Times Information. Source: World Reporter (Trade Mark).
