Norbert Dentressangle grows strongly after US acquisitions

Norbert Dentressangle has announced its financial results for the full year 2014. It reported consolidated revenues of €4.67bn, an increase of 15.8% year-on-year. The company also recorded EBITDA of €167.9m, which represented a rise of 18.6% year-on-year. Accordingly Norbert Dentressangle’s margin stood at 3.60%.

Revenue growth was attributable to the new business gained through acquisitions, such as the Jacobson acquisition in the US, and 4.1% organic growth. Over the year the Logistics division became the Norbert’s largest by revenue. It posted revenues of €2.36bn, an increase of 20.9% year-on-year based on reported data and up 5.7% like for like. The division now draws 78% of its revenue from outside France.

The Transport division posted 2014 revenues of €2.19bn, up 8.7% over 2013 based on reported data and up 2.6% like-for-like. These results were mainly driven by strong momentum in the pallet distribution business. Fourth quarter revenues were impacted by the sharp drop in oil prices, which triggered a corresponding fall in transport service prices. Meanwhile Air & Sea posted 2014 revenues of €206m, up by 42.2% from 2013 based on reported data and up 2.8% like-for-like.

The growth in EBITDA was primarily the result of the acquisition of Jacobson, although there was still moderate organic growth from the other areas of the business.

Norbert Dentressangle’s CEO Hervé Montjotin said, “In 2014 Norbert Dentressangle reached a new milestone in terms of size by achieving 15.8% growth. As well as attaining a global dimension by becoming the fourth largest logistics operator in the US, we have also strengthened our positioning on key markets such as e-commerce.”

He went on, “The growth in revenues across all our business lines – Logistics, Transport and Air & Sea – was matched by an increase in EBITA, giving us a consolidated EBITA margin of 3.6%. After four months of successful integration of the logistics and transport businesses acquired in the US, all performance indicators are in line with our expectations in terms of growth rate and profitability.”


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