Norbert Dentressangle 2013 turnover
A sound performance:
2013 annual revenues up 3.9% to €4 billion
* Annual revenues of €4,032 million compared to €3,880 million in 2012, up
3.9% based on reported results and up 2.4% like for like
* Transport revenues fell slightly (down 1.2%) to €2,014 million, although
there was a confirmed recovery in business volumes in the last quarter
* Logistics posted revenues of €1,950 million (up 9.4%), with an accelerating
trend throughout the second half
* Freight forwarding revenues came to €145 million, including revenues from
the consolidated Daher Group freight forwarding business from 1 October
2013
* 2013 EBITA will be close to the levels achieved over the past two years, in
line with forecasts
* Net financial debt is expected to decrease, despite the acquisitions
completed in 2013
Hervé Montjotin, Chairman of the Executive Board, commentedon the Group's
performance in 2013: "The 3.9% growth rate recorded for 2013 confirms the
strengthsof Norbert Dentressangle's model and strategy, i.e.that of a
commercially buoyant, flexible and balanced international company which is the
market leader in its core business sectors. Our Group is reaping the benefits
of its significant presence in the recovering British economy anditspositioning
in business sectors linked to household consumption, including e-Commerce. The
Transport business has confirmed the more favourable trend in its business
activities witha regular improvement over the past few months. In the Logistics
business, after the positive momentum recorded in 2013, the growth slated for
the next few months is strong. In the Freight forwarding business, the
consolidation of the Daher Group's revenues from October 2013 has confirmed the
attractiveness of this acquisition, which gives us key positions in profitable
sectors and a unique market positioning in Russia. Based on this performance,
reported operating income for 2013 is expected to be close to the levels
achieved over the last two years and in line with our expectations".
Annual revenues 2013 2012 Change Change
(€m) (like for like)
Transport 2,014 2,038 -1.2% -0.6%
Logistics 1,950 1,783 +9.4% +6.7%
Freight forwarding 145 143 +1.3% -17.7%
Inter-division (78) (84)* NS NS
Consolidated Total 4,032 3,880 +3.9% +2.4%
Q4 revenues Q4 2013 Q4 2012 Change Change
(€m) (like for like)
Transport 500 493 +1.3% +1.4%
Logistics 541 470 +15.1% +10.9%
Freight forwarding 51 41 +24.5% -21.8%
Inter-division (19) (25)* NS NS
Consolidated Total 1,073 979 +9.6% +5.6%
*Includes the revenues of the Dagenham facility in the United Kingdom (sold in
early October 2012)
Norbert Dentressangle's consolidated revenues for 2013 amounted to €4,032
million, up 3.9% compared to 2012 reported revenues. At constant exchange rates
and like for like, growth over the same period was 2.4%. There was a negative
foreign currency effect of 1.6% over the period.
The fourth quarter reinforced the favourable trend witnessed in the third
quarter, with revenue growth of almost 10% compared to Q4 2012.
Norbert Dentressangle's globalisation drive continued apace: 60% of Group
revenues are now generated outside France. Britain is the 2nd largest country
in terms of contribution to Group revenues, accounting for 30% of total sales.
Following the strengthening of our positions in Southern Europe, including the
acquisition of the Fiege Group's logistics operations, Spain and Italy
consolidated their positions as the 3rd and 4th largest countries in term of
contribution to Group revenues. They account for 10% and 5% of total sales
respectively.
Performance by division over the 2013 financial year
The Transport business, which posted 2013 revenues of €2,014 million, reported
a slight decrease of 1.2% compared to 2012 (down 0.6% like for like). The
fourth quarter confirmed the upturn in growth observed in the third quarter:
like-for-like growth was 1.3%, a clear sign of continued sales momentum. The
various transport businesses fared differently: pallet distribution held up
well in all countries, while full loads, which is more exposed to the
industrial sector, was hit by adverse market conditions, especially in France.
Early 2014, the Group boosted its "Red Europe" pallet distribution business by
consolidating the operations of one of its Italian sub-contractors.
Growth in the Logistics business accelerated, with revenues of €1,950 million,
up 9.4% based on reported data and up nearly 7% like for like. Fourth quarter
like-for-like growth amounted to 11%. The new contracts won in major European
markets and in key sectors such as e-Commerce performed well. The revenues also
reflect the successful start-up of our new operations in Russia with our
customer, Danone. Lastly, the figures include the Italian and Spanish
operations acquired from the Fiege Group in the first half of 2013.
Freight forwarding posted 2013 revenues of €145 million, up 1.3% from the
previous year. These figures include the Daher Group's freight forwarding
businesses in France and Russia, consolidated from 1 October 2013, and reflect
the greater selectiveness applied in taking on customer contracts in China. The
Freight forwarding business is expected to turn in annual revenues of around
€220 million.
2013 consolidated EBITA, due to be announced on 26 February, is expected to be
in line with forecasts and comparable to the income achieved over the past two
years. The Group's net financial debt will be lower, despite the acquisitions
made in 2013.
Next release: 2013 annual results, 26
February 2014 before market opening