Norbert Dentressangle reported revenue of €1.0 billion (about US$1.4 billion) for the third quarter of 2013, an increase of 6.2 percent from €967 million in the third quarter of 2012.
The freight forwarding division posted a revenue decline of 11.7 percent year-over-year in the third quarter of 2013, totaling €30 million, offset by a 13.6 percent increase in the logistics segment and a 0.1 percent gain in the transport division. The logistics segment’s quarterly revenue was €513 million and the transport division’s revenue was €504 million.
In first nine months of 2013, revenue totaled €2.96 billion, up 2.0 percent from €2.90 billion in the same period last year. Year-to-date, the transport division’s revenue decreased 2.0 percent to €1.5 billion, because of a slight recovery in the third quarter, while logistics revenue rose by 7.3 percent to €1.4 billion, boosted by strong momentum in traditional markets, the integration of the Fiege Italian and Spanish businesses and the startup of operations outside of Europe, Norbert Dentressangle said. Meanwhile, the freight forwarding segment’s revenue was €94 million in the third quarter, down 8.1 percent, primarily driven by “increased selectiveness” of customer contracts in China, according to the company.
Norbert Dentressangle also mentioned that its acquisition of Daher Group’s freight forwarding businesses in France and Russia will be included in its results as from Oct. 1, 2013.
“In line with expectations, Norbert Dentressangle is reporting an encouraging increase in its business activities for the first nine months of 2013, primarily driven by a return to growth in the third quarter,” said Hervé Montjotin, chairman of the company’s executive board, in a written statement. “In particular, our group is taking advantage of its now significant exposure to economies which are growing at a faster rate than that of France.”
“Strong” momentum in business volumes in the third quarter, combined with ongoing “strict” cost control initiatives should enable Norbert Dentressangle to reach a level of operating income comparable with levels achieved over the last few years, the company said.