GEODIS has reported a revenue of €6,748m in the first half of 2022, growing 34.0% at constant exchange rates and scope of consolidation, compared to the first half of 2021. GEODIS states that growth was driven by all activities and in particular by Freight Forwarding. This sustained increase was stated to have been achieved in a context of extreme tension in maritime and air transport, reflected in high freight rates and shrinking market volumes. The company’s EBIT also rose by 53.0% to €309m compared to the first half of 2021.
GEODIS’ Contract Logistics was stated to have continued its rapid development, particularly in the United States, because of the growth in e-commerce. The Road Transport Line of Business was stated to have enjoyed a good level of volumes in France and other countries. The Distribution & Express Line of Business was stated to continue to be driven by the development of e-commerce in France.
GEODIS states that its acquisitions in 2021 of PEKAES in Poland and of Gandon Transports and Transports Perrier in France has been followed by that of Keppel Logistics, which aims to strengthen GEODIS’s presence in the contract logistics sector in Asia-Pacific, more particularly in Singapore.
GEODIS states that the level of macro-economic uncertainty remains high, with the repercussions of the public health crisis in China, inflationary trends, and significant pressure on maritime capacities, among other phenomena.
Marie-Christine Lombard, CEO of GEODIS, commented: “These good results demonstrate the relevance of our growth model and allow us to press ahead with our strategy of targeted acquisitions as we seek to build a global, integrated network of transport and logistics hubs.”
Source:GEODIS
