Freightways reports strong Q1 financial results

Freightways has announced its Q1 financial results for the three months ended September 30, 2014. These results included five extra trading days compared to the prior comparable period due to a re-alignment of the company’s accounting calendar. Inclusive of the revenue and operating profit generated from these additional trading days, Freightways’ revenue totalled $122.30m, a 16.8% increase over Q1 2013. The company also reported EBITDA of $24.41m, a 26.9% rise above the same period of 2013. Accordingly the company’s margin stood at 19%.

These results were driven by growth in both the Express and Information Management divisions. In the Express division revenue of $94m was 18% above the same quarter of 2013. The division’s EBITDA of $18m represented a 33% increase year-on-year. This growth was attributed to increased activity from existing customers throughout all geographies and industries in New Zealand and was assisted by quality market share gains and some pricing improvement.

The Information Management division reported revenue of $29m, a 14% increase over the same period of 2013. The division’s EBITDA of $7m, represented an increase of 18% year-on-year. The increases were primarily the result of growth from existing customers and market share gains in all locations which led to increased utilization of the company’s capacity.


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