GEFCO produced €4.4bn in revenue in 2017, up 5.1% year-over-year. Its EBITDA increased 16% to €201m.
Both the Overland and Freight Forwarding business returning to profit. GEFCO described this as a “milestone” as margins have continued to improve every year since the new management team arrived in 2013.
Its market client sales were up 8.1% year-over-year. This represent accounts outside of its historical PSA and General Motors contracts. It gained new contracts with Jaguar-Land Rover, Volkswagen, Tesla, Audi, Volvo, Renault-Nissan, and also Carglass and London Electric Vehicles. The company also continued its expansion in non-automotive with new contracts in Food, Retail and Fashion (Amazon, Baron de Rotschild, Kiabi, LC Waikiki and L’Oréal), Energy (Gazprom Neft-Supply), Aerospace (Safran), Industrial Manufacturers (Severstal), Life Sciences and Healthcare (Fresenius, Procter and Gamble).
Luc Nadal, Chairman of the Management Board of GEFCO, said: “2017 has been another strong year for GEFCO with progression in both our revenue and profitability, reflecting the strength of our offering to customers and our ongoing drive for operational excellence. Our strategy continues to deliver growth, as demonstrated by an improvement of over 8% year on year in revenue from Market Clients. Our operational excellence programme, commenced in 2014, has made strong progress in turning around the company’s historically loss-making divisions, and reached a milestone in 2017 with both our Overland and Freight Forwarding business returning to profit.”
Source: GEFCO
