Geodis release 2001 results
Geodis, the French logistics group, said net loss over 2001 mounted to 138 million euro, up from a loss of 27 million euro in 2000. (3/26/2002)
Net sales were up 2.4 per cent, to 3.5 billion euro, operating income was up 71 per cent, till 34.6 million euro. Diluted net loss per share was 26.42 euro, against 5.12 euro over 2000.
The major changes in Group structure relate to the disposal of Extand at the end of May 2000 and Feron in January 2001, and the integration of the General Cargo operations of Ambrosetti in January 2001.
Geodis maintained its level of activity, improved its operating income by 71% and strengthened its operations extensively despite a difficult economic environment, particularly during the last four months of 2001.
Sales grew by 2.4% to Ç 3.5 billion. This increase arises mainly from the growth of Groupage operations (net sales up by 10.5%) and Logistics International operations (net sales up 13.5%) – these benefiting from the integration of Ambrosetti – while usefully offsetting the reductions in the sectors where the Group is seeking more selective growth.
Group operating income improved by 70,9% on the previous year to Ç 34.6 million. This increase arises from the good results of the Groupage operations, the significant improvement in Full Truck Loads profitability and the recovery in certain areas of the Logistics International operations.
The first results of our efforts focusing on the reduction in working capital needs have led to stabilization in financial expenses.
Eye for Transport
