Thursday, February 24, 2011

Logistics Operator Records 'Significant' Profit

Damco Share in Maersk Success
Shipping News Feature

DENMARK – After the release of A.P. Moller Maersk’s trading figures yesterday the logistics arm of the supermarket to container shipping line, Damco, has cut their own profit figures from the mix to reveal what they consider a ‘significantly improved annual result’.

The company, which claims to be the tenth largest global supplier of forwarding and supply chain management services, revealed earnings before interest and taxes(EBIT) before restructuring and other one-off costs have reached $85 million, compared to $45 million in 2009 - and the EBIT margin is up to 3.2 per cent compared to 2.3 per cent in 2009.

CEO Rolf Habben-Jansen commented upon the numbers, saying:

“We are pleased with our result for 2010, having improved significantly for the second year in a row. We have continued to gain market share versus most of our main competitors whilst improving customer satisfaction and further strengthening our relative cost position.”

In 2010 Damco handled containers equating to 610,000 TEU of sea freight, a growth of 13 per cent, with supply chain services of 48 million cubic metres, corresponding to approximately two million TEU up 18 per cent compared to 2009 as well as 75,000 tonnes of air freight, 24 per cent higher than 2009. The increased volumes resulted in an increase in revenue to $2.7 billion compared to $2.2 billion the year before.