Baltic logistics provider Nurminen reports revenue growth of 51.6% in 2017

Nurminen Logistics’ net sales increased by 51.6% to €75.8m in 2017 on the back of the Baltic region’s economic recovery and the growth of import and export industries in Finland.

Its operating result increased by €2.6m and the reported net result by €2.9m compared to the previous financial period. The comparable net result turned positive (€0.3m).

Nurminen’s CEO asserted that the profitability of forwarding operations in Finland remained strong, its terminal business did well and rail logistics’ profitability also increased.

At the sectoral level, Nurminen’s results were driven by positive developments in forestry, steel, engineering and e-commerce.

An operational highlight of the year was the company’s management of the first block train shipment from Finalnd to China in November. The train comprised fifty 40 ft containers. The transport of goods from Finland crossing to Russia and from Russia to Kazakhstan and further to Central China took only 12 days, while a combined sea and overland transport to the same destination would take more than 50 days. Nurminen’s goal is to organise a regular train connection to China.

Source: Nurminen Logistics