GEFCO Group has announced strong financial results for the first half of 2018. GEFCO Group reported a turnover of €2,402m, up 6.2% compared to the same period in 2017. This increase included 11.6% growth in GEFCO’s Value Key Accounts (international integrated logistics customer portfolios) across the automotive, consumer goods, healthcare and energy sectors. Additional attempts to cross-sell or up-sell to existing customers were also accretive to revenue growth.
EBITDA for the first six months of 2018 amounted to €165.4m under IFRS 16. Excluding IFRS 16 impact, EBITDA for the period amounted to €121.9 million, an increase of 11.6% compared to the same period in 2017. In the first half of 2018, Recurring EBIT reached €94.9m over the period under IFRS 161 (excluding IFRS 16, Recurring EBIT reached €93.5m).
GEFCO will now look to focus on growth through strategic alliances and launch of GEFCO Innovation Factory.
Executive Vice President of Sales and Marketing at GEFCO, Emmanuel Arnaud, stated, “In the first half of 2018, we continued to diversify our customer base and geographies, achieving a significant increase in sales in Central Europe and the Middle East. GEFCO is on a positive track and we expect to expand our portfolio in North Africa by the end of the year.”
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