Finance – Page 25
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News
CEVA earnings hit by Italian contract logistics problems
CEVA Logistics saw 2018 third quarter (Q3) and year to date (YTD) revenues hit by problems at its Italian contract logistics arm.CEVA, whose board rejected a $1.5bn takeover approach by Danish logistics operator DSV in mid-October, reported adjusted EBITDA of $55m for Q3 and $198m YTD, down $27m and $8m ...
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DHL sees airfreight volumes decline despite revenue improvement
The world’s largest airfreight forwarder DHL Global Forwarding continued to see airfreight volumes tumble during the third quarter of the year, but still managed to record improvements in revenues and gross profits.The Bonn-headquartered forwarder saw total airfreight volumes decline by 5.2% year on year during the third quarter to 529,000 ...
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Expeditors warns of airfreight rate volatility as profits hit new highs
US freight forwarder Expeditors has warned of increasing volatility in airfreight rates as it reports record profits for the third quarter of the year.The company saw third-quarter revenues increase by 16% year on year to $2.1bn, while earnings before interest and tax were up 9.4% on a year earlier to ...
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Air Partner freight profits rise in steady first half trading
Air Partner reports “continued strength in freight” with gross profits up 36% to £1.5m in its results for the first six months of the year to July 31, 2018.Chief executive Mark Briffa noted that freight, which contributes 8% to group gross profit, “is an especially volatile sector, [so] these results ...
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ATSG Q3 revenues on the rise and expects a 'good' peak season
US freighter lessor Air Transport Services Group (ATSG) saw 2018 third quarter revenues increase 13% to $204.9m and expects “a good peak season” for air cargo.ATSG, which provides Boeing 767 freighter uplift for Amazon’s US domestic overnight parcel network, saw adjusted EBITDA up 13 percent to $74.3m.Joe Hete, ATSG president ...
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XPO Logistics achieves ‘robust’ growth in Q3
US-based XPO Logistics saw its third-quarter revenue increase by 11.5% over the same three months of last year, to $4.3bn.Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose from $369.6m in the third quarter of 2017 to $414.9m for the same period of this year.The Connecticut-headquartered company’s logistics segment ...
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Blue Dart reports Q2 profit as expansion continues
Indian express logistics services provider Blue Dart has posted $2.9m profit after tax for the quarter ended September. Revenue from operations for the quarter stood at $107.8m, it confirmed.The Mumbai-headquartered company, part of the Deutsche Post DHL Group, has been working hard to strengthen its presence across India. Earlier this ...
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Lufthansa Cargo performance bolsters Group Q3 results
Strong demand and continuing high yields at Lufthansa Cargo resulted in the Group’s Logistics business segment raising its nine-month adjusted EBIT (earnings before interest and tax) 56.1% to €153 m.However, despite the strong performance in both cargo and the core airlines of the Group (Lufthansa, SWISS and Austrian Airlines), significant ...
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DSV airfreight grows above market rate in third quarter
The DSV Air & Sea division reported a 10% increase in airfreight volumes for the first nine months of 2018, with seafreight recording 4% growth.The Denmark-based logistics operator says the airfreight increase was mainly driven by a strong performance on EMEA and American exports and compared well with an estimated ...
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IAG Cargo Q3: tonnage down, yield up
IAG Cargo has reported commercial revenues of €290m for the third quarter, an increase of 8.1% on 2017 at constant exchange.Overall yield for July 1 to September 30 period was up 9.3% at constant exchange. Sold tonnes were down 0.5% and CTK volumes were down 1% whilst capacity grew by ...
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Airfreight is vital to UK economy, says report
The UK economy is more dependent on airfreight than many of its neighbours, with nearly half (by value) of the country’s exports to outside the EU transported by air. Among the EU members, only Ireland ships a greater share of non-EU exports by air.This is one of many statistics in ...
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Record tonnage for Heathrow
Five new services to China helped London Heathrow Airport achieve a record high of 1.3m tonnes, up 1.5%, in the nine months to September 30.Overall, revenues climbed 2.3% to £2.2bn “on the back of higher demand to fly and strong retail spend”, according to the airport.It says progress continues on ...
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Panalpina increases profitability in a ‘very volatile environment’
Panalpina’s airfreight volumes increased 4% in the first nine months of 2018, in line with estimated market growth of 4%. Compared to the same period of last year, gross profit per ton increased 12% to CHF705, resulting in a gross profit of CHF530m compared with CHF456m.EBIT in airfreight increased from ...
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CEVA stakeholder CMA CGM to provide "exit option" to other shareholders
CEVA Logistics is to broaden the partnership with CMA CGM, its major shareholder and strategic partner.As part of this initiative, CEVA Logistics will acquire the freight management business of CMA CGM.The Board of CEVA Logistics has also agreed that CMA CGM can offer to buy shares in CEVA Logistics from ...
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‘Outstanding’ quarter for UPS supply chain and freight business
UPS chairman and chief executive David Abney has praised the company’s supply chain and freight performance in Q3 2018, saying it was “outstanding this quarter, as the unit delivered double-digit growth in both revenue and adjusted operating profit”.He added that “UPS will continue to leverage our vast forwarding, customs, and ...
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DSV pulls out of CEVA bid process after revised offer is rejected
DSV will not seek to acquire CEVA Logistics after the Danish supply chain giant's "revised private proposal" was rejected.The second offer of CHF30 a share by DSV would have provided CEVA shareholders with a premium of 60.4% to CEVA’s share price of CHF 18.70 as of 1 October 2018.DSV's first ...
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IBA’s new aviation platform for investors and lessors is on-line
Aviation consultancy IBA Group has launched an online platform, IBA iQ Trends, for investors, lessors, airlines and Original Equipment Manufacturers (OEMs).Unlike other static aviation and airline data sets, IBA iQ Trends combines key economic data and world events in real time, with historical, current and future values and lease rates ...
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CMA CGM ups share stake in CEVA Logistics to 33% after rejected DSV bid
Container shipping line CMA CGM has raised its stake in CEVA Logistics from 24.99% to 33% of company shares following the failed takeover approach for CEVA by Danish logistics giant DSV.CMA CGM, the world's third largest container shipping group, has also announced an “additional economic exposure of 4.56%” in CEVA ...
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CEVA board rejects unsolicited takeover bid
CEVA Logistics' board of directors has rejected an unsolicited non-binding proposal to acquire the company at the price of CHF27.75 per share in cash, valuing the company at around $1.5bn. The bidder was later revealed to be Denmark's DSV.The board of the Switzerland-headquartered supply chain giant "carefully reviewed" the proposal ...
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Virgin Atlantic Cargo sees 3% tonnage growth in 2018 first half
Virgin Atlantic Cargo saw a 3% year-on-year increase in tonnages for in the first half of 2018, driven by a growth in life science, express, valuable and automotive shipments.The UK-based airline carried 116,300 tonnes to the end of June 2018, building on its performance in 2017 when volumes reached a ...