Geodis, the road transport, logistics and forwarding arm of French railways-owned SNCF Geodis, has posted a half-year operating profit of €14.3 million, up 5.9% on the first six months of 2011, despite poor market conditions.
"With the global economic crisis worsening against the backdrop of the sovereign debt crisis in Europe, reflected in shrinking volumes and increasing price pressure," Geodis reported a 1.1% increase in revenue in the first half of 2012 to just over €3.5 billion, the company underlined.
However, at constant exchange rates, revenue was down 1.5% on the first half of 2011.
"Strong momentum" in Geodis’s activities in Eastern Europe and Asia limited the impact of the crisis on results as did the cost-cutting plans introduced in late- 2009.
The first six months of 2012 was an eventful period for Geodis with a new logistics and distribution contract with Mattel in southern Europe, the opening of a new logistics platform near Moscow and the acquisition of MF Cargo in Hungary, demonstrating Geodis’ "ability to bring its customers end-to-end supply chain management."
In France, the partial takeover of Sernam’s activities will enable Geodis to further develop its groupage and express business, the company said.
"With no global economic recovery in sight in 2012, Geodis will forge ahead with its strategy to win new business and pursue its transformation plans with the aim of enhancing organisational flexibility and improving productivity," it added.
SNCF Geodis’ global half-year turnover was down 2.8% on a like-for-like basis to over €4.7 billion.
This reflected a 9.7% decline in revenues by its rail freight subsidiaries, including Fret SNCF whose turnover fell by 10.1% on the first half of 2012 - the equivalent of €68 million.
Fret SNCF posted operating losses of €337 million last year.
"With the global economic crisis worsening against the backdrop of the sovereign debt crisis in Europe, reflected in shrinking volumes and increasing price pressure," Geodis reported a 1.1% increase in revenue in the first half of 2012 to just over €3.5 billion, the company underlined.
However, at constant exchange rates, revenue was down 1.5% on the first half of 2011.
"Strong momentum" in Geodis’s activities in Eastern Europe and Asia limited the impact of the crisis on results as did the cost-cutting plans introduced in late- 2009.
The first six months of 2012 was an eventful period for Geodis with a new logistics and distribution contract with Mattel in southern Europe, the opening of a new logistics platform near Moscow and the acquisition of MF Cargo in Hungary, demonstrating Geodis’ "ability to bring its customers end-to-end supply chain management."
In France, the partial takeover of Sernam’s activities will enable Geodis to further develop its groupage and express business, the company said.
"With no global economic recovery in sight in 2012, Geodis will forge ahead with its strategy to win new business and pursue its transformation plans with the aim of enhancing organisational flexibility and improving productivity," it added.
SNCF Geodis’ global half-year turnover was down 2.8% on a like-for-like basis to over €4.7 billion.
This reflected a 9.7% decline in revenues by its rail freight subsidiaries, including Fret SNCF whose turnover fell by 10.1% on the first half of 2012 - the equivalent of €68 million.
Fret SNCF posted operating losses of €337 million last year.
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