Panalpina profits increase in 2001

Panalpina Group saw profits jump 20.5% in 2001 to 111.7 million Swiss francs ($67.05 million) compared to $55.7 million in 2000. (4/8/2002)

The global logistics provider and forwarder saw earnings before interest, taxes, depreciation and amortization increase 21% to $132.7 million versus $109.6 million the previous year. Gross profits totaled $768.2 million against .$713 million in 2000.

The Basel, Switzerland-based company cited a better-than-average volume increases in its core air and sea freight segments, and a renewed focus on key industry customers. It also emphasized improvements as a result of ongoing optimization of capacity purchasing and process and cost management.

The Panalpina Group has over 300 branches in 74 countries, and employs around 12,000 people worldwide.

Eye for Transport