GEFCO sees turnover rise, but EBITDA fall

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The GEFCO group generated a turnover of 4.2 billion euros ($4.7 billion) in 2015, up three per cent on the 4.05 billion in 2014.

However, EBITDA (earnings before interest, taxes, depreciation and amortization) in 2015 was 131 million euros, an 18 per cent fall on the 160 million euros achieved in 2014.

Higher turnover it says was due to an expanded customer portfolio. efficient cost management and the Group’s ‘asset-light’ business model.

Lower EBITDA was put down to decline in oil prices, the economic crisis hitting hard countries such as Russia and Brazil, and difficulties experienced by car makers in Latin America and Russia are the key reasons of this setback.

GEFCO Group’ chairman of the management board, Luc Nadal says: “GEFCO achieved good results in 2015 in an unsteady global economic context and succeeded in further enhancing its position of global logistics solutions provider.

“The Group expanded its international footprint by opening new countries and acquiring the Dutch company IJS Global, whilst broadening its offering in freight forwarding and customer portfolio.

“I see the Group’s performance as a tangible proof of our customers trust in GEFCO’s expertise: they know how much GEFCO’s teams are committed to adding value at every stage of their logistics chain.”

With an intercontinental network of 300 locations throughout the world, GEFCO offers end to end tailor-made services to support its customers’ international development.

2015 was a year of the international network development as it opened four new subsidiaries in Serbia, Greece, Vietnam and South Korea reinforcing its international footprint across Europe and Asia.

In October 2015, GEFCO also acquired the Dutch freight forwarding company IJS Global. Present in 16 countries, with operational centers in the UK, the Netherlands, Australia, China, Southeast Asia and the USA, the company has strengthened GEFCO’s presence and offering in the first two major geographic areas in the freight forwarding activity, i.e. China and South East Asia on the one hand, and the US on the other hand.

Nadal adds: “2015 was definitely a new milestone in GEFCO expansion and globalization to better support our customers facing increasingly complex logistics challenges. Our Group’s mission is to help them transforming their logistics chains into value chains, now and in the long-term.”