YRC Worldwide has declared its group financial results for 2016 and Q4. It made revenues of $4,698m for the calendar year, representing a 2.8% decrease on 2015 figures. Sales for the fourth quarter were up 0.5% to $1,148bn when compared against Q4 of 2015.
EBITDA stood at $287m, up 7.9% on 2015. For Q4, EBITDA was up 112.1% to $58m. These results are slightly distorted as a result of a non-union pension settlement charge of $29m made in Q4 of 2015. Overall net profit for 2016 was $22m.
YRC Freight made sales of $2,959m, a 3.2% decrease on the previous year. This was after a 2.7% drop in volumes. In YRC Regional Transportation, revenue was $1,739m, down 2.1% on 2016 whilst volumes dropped 1.6%.
James Welch, CEO of YRC Worldwide said of the results: “Despite the soft industrial conditions and lower fuel surcharge revenue during the year, we reported the highest full-year operating income since 2006. Until we see a stronger freight environment it is critical that our investments and self-help actions drive improvements.”
Source: YRC Worldwide