the world ’s largest freight forwarder fell by 24%, China ’s largest freight forwarder fell 50 ~
- Author:MIKEY
- Source:Sunny Worldwide Logistics
- Release Date:2020-04-29
Under the shadow of the epidemic, with the announcement of the first quarter results, the freight forwarders gradually surfaced due to the impact of the epidemic.
On April 16, China's largest freight forwarder, Sinotrans, issued a performance forecast. It is expected that the net profit achieved in the first quarter of 2020 will drop by 50% to 60% year-on-year. The company's profit for the same period last year was 582 million yuan. Affected by the New Coronary Pneumonia epidemic, the company's export-related business volume also declined, leading to a year-on-year decline in the company's revenue and gross profit during the reporting period, and investment income from joint ventures decreased year-on-year.
Yesterday, April 27, the world ’s largest freight forwarder Dexun Group (Kuehne + Nagel) announced the results of the first quarter of fiscal 2020, and its sea, land and air freight volumes have declined to varying degrees, of which due to the decline in Chinese demand, China accounted for 70%, which caused the worst impact on Dexun in the first quarter.
▲ Sea, land and air freight volume have declined to varying degrees
According to the financial report, Dexter ’s current net turnover fell by 6.2% to CHF 4.912 billion, and gross profit fell by 5.1% to CHF 1.878 billion. Profit before interest and taxes fell by 24% to 184 million Swiss francs (about 1.339 billion yuan). During the period, profits fell by 23.2% to 139 million Swiss francs.
Dexun Group said in its financial report that due to the epidemic of the new coronary pneumonia, the business volume dropped sharply in the first quarter of this year. The company's net turnover, gross profit and profit are all significantly lower than last year's level. In addition, exchange rate fluctuations also have a significant negative impact on performance.
Detlef Trefzger, CEO of Dexun, commented: "The new coronary pneumonia epidemic is also a huge global challenge for Dexun, and industrial production and trade volume have significantly weakened. In this case, Dexun maintains its operating performance and manages Professional business and won new customers. In terms of basic commodities and pharmaceuticals, the transportation volume is maintained at a considerable level. Our company will face major challenges in the next few months, focusing more on customer proximity, flexibility and digital products. It will also highlight the company's strong financial strength. "
▲ CEO of Dexun: will face major challenges in the next few months
Shipping logistics
In terms of maritime logistics, due to a double-digit decline in demand for travel to and from China, maritime logistics was affected in the early stages of the epidemic. On the other hand, refrigerated cargo ships (including pharmaceuticals) and export volumes (especially perishables) from Latin America are developing well. Dexun completed a total of 1.075 million TEU in the first quarter of this year, a decrease of 71,000 TEU from the same period of the previous year, a decrease of 6.2%.
As a result, the net turnover of marine logistics decreased by 6.9% to CHF 1.724 billion; gross profit decreased by 9.9% to CHF 344 million. Profit before interest and taxes fell by 29.5% to 79 million Swiss francs. Exchange rate fluctuations have a negative impact on net turnover and profit before interest and tax of 5.3% and 3.6%, respectively.
Aviation logistics
As for aviation logistics, the aviation logistics business department has been particularly affected by the epidemic since March. Global air traffic has dropped by about 60% in just a few weeks. On the demand side, the blockades in China, Europe and even the United States led to a sharp decline in consumer demand and a decline in air traffic. On the contrary, there is a stronger demand for short-term lease transportation of medicines and time-critical transportation.
In the first quarter, Dexun's air freight volume was 372,000 tons, a decrease of 9% compared with the same period last year. Net turnover fell by 6.8% to 1.091 billion Swiss francs, and gross profit fell by 5.8% to 307 million Swiss francs. Profit before interest and taxes fell by 11.3% to 71 million Swiss francs. Exchange rate fluctuations have a negative effect of 5.0% on both net turnover and pre-tax profits.
Highway logistics
In terms of highway logistics, the highway logistics sector has made a good start in the new business year. However, from March onwards, freight volumes in Europe (especially France, the United Kingdom and Italy) and North America (mainly intermodal operations) have declined significantly. Except for e-commerce and the pharmaceutical industry, other sectors are affected.
In the first quarter of 2020, the net turnover of road logistics fell 4.2% year-on-year to 863 million Swiss francs, and gross profit fell 1.4% to 281 million Swiss francs. Profit before interest and taxes fell by 29.2% to 17 million Swiss francs. Exchange rate fluctuations have a negative impact on net turnover of 4.8% and a negative impact on profit before interest and tax of 4.2%.
Contract logistics
In terms of contract logistics, automobile production and retail supply are particularly affected by the crown epidemic. However, the demand for basic goods, pharmaceuticals and e-commerce services has increased.
In the first quarter of 2020, the net turnover of this business segment decreased by 6.1% compared to the same period last year to 1.234 billion Swiss francs, gross profit decreased by 4.0% to 946 million Swiss francs, and profit before interest and taxes fell by 34.6% to 17 million Swiss franc. Exchange rate fluctuations have a negative impact on net turnover of 4.9% and a negative impact on profits before interest and taxes of 3.8%.
(The article is compiled by Sohang APP)
On April 16, China's largest freight forwarder, Sinotrans, issued a performance forecast. It is expected that the net profit achieved in the first quarter of 2020 will drop by 50% to 60% year-on-year. The company's profit for the same period last year was 582 million yuan. Affected by the New Coronary Pneumonia epidemic, the company's export-related business volume also declined, leading to a year-on-year decline in the company's revenue and gross profit during the reporting period, and investment income from joint ventures decreased year-on-year.
Yesterday, April 27, the world ’s largest freight forwarder Dexun Group (Kuehne + Nagel) announced the results of the first quarter of fiscal 2020, and its sea, land and air freight volumes have declined to varying degrees, of which due to the decline in Chinese demand, China accounted for 70%, which caused the worst impact on Dexun in the first quarter.
▲ Sea, land and air freight volume have declined to varying degrees
According to the financial report, Dexter ’s current net turnover fell by 6.2% to CHF 4.912 billion, and gross profit fell by 5.1% to CHF 1.878 billion. Profit before interest and taxes fell by 24% to 184 million Swiss francs (about 1.339 billion yuan). During the period, profits fell by 23.2% to 139 million Swiss francs.
Dexun Group said in its financial report that due to the epidemic of the new coronary pneumonia, the business volume dropped sharply in the first quarter of this year. The company's net turnover, gross profit and profit are all significantly lower than last year's level. In addition, exchange rate fluctuations also have a significant negative impact on performance.
Detlef Trefzger, CEO of Dexun, commented: "The new coronary pneumonia epidemic is also a huge global challenge for Dexun, and industrial production and trade volume have significantly weakened. In this case, Dexun maintains its operating performance and manages Professional business and won new customers. In terms of basic commodities and pharmaceuticals, the transportation volume is maintained at a considerable level. Our company will face major challenges in the next few months, focusing more on customer proximity, flexibility and digital products. It will also highlight the company's strong financial strength. "
▲ CEO of Dexun: will face major challenges in the next few months
Shipping logistics
In terms of maritime logistics, due to a double-digit decline in demand for travel to and from China, maritime logistics was affected in the early stages of the epidemic. On the other hand, refrigerated cargo ships (including pharmaceuticals) and export volumes (especially perishables) from Latin America are developing well. Dexun completed a total of 1.075 million TEU in the first quarter of this year, a decrease of 71,000 TEU from the same period of the previous year, a decrease of 6.2%.
As a result, the net turnover of marine logistics decreased by 6.9% to CHF 1.724 billion; gross profit decreased by 9.9% to CHF 344 million. Profit before interest and taxes fell by 29.5% to 79 million Swiss francs. Exchange rate fluctuations have a negative impact on net turnover and profit before interest and tax of 5.3% and 3.6%, respectively.
Aviation logistics
As for aviation logistics, the aviation logistics business department has been particularly affected by the epidemic since March. Global air traffic has dropped by about 60% in just a few weeks. On the demand side, the blockades in China, Europe and even the United States led to a sharp decline in consumer demand and a decline in air traffic. On the contrary, there is a stronger demand for short-term lease transportation of medicines and time-critical transportation.
In the first quarter, Dexun's air freight volume was 372,000 tons, a decrease of 9% compared with the same period last year. Net turnover fell by 6.8% to 1.091 billion Swiss francs, and gross profit fell by 5.8% to 307 million Swiss francs. Profit before interest and taxes fell by 11.3% to 71 million Swiss francs. Exchange rate fluctuations have a negative effect of 5.0% on both net turnover and pre-tax profits.
Highway logistics
In terms of highway logistics, the highway logistics sector has made a good start in the new business year. However, from March onwards, freight volumes in Europe (especially France, the United Kingdom and Italy) and North America (mainly intermodal operations) have declined significantly. Except for e-commerce and the pharmaceutical industry, other sectors are affected.
In the first quarter of 2020, the net turnover of road logistics fell 4.2% year-on-year to 863 million Swiss francs, and gross profit fell 1.4% to 281 million Swiss francs. Profit before interest and taxes fell by 29.2% to 17 million Swiss francs. Exchange rate fluctuations have a negative impact on net turnover of 4.8% and a negative impact on profit before interest and tax of 4.2%.
Contract logistics
In terms of contract logistics, automobile production and retail supply are particularly affected by the crown epidemic. However, the demand for basic goods, pharmaceuticals and e-commerce services has increased.
In the first quarter of 2020, the net turnover of this business segment decreased by 6.1% compared to the same period last year to 1.234 billion Swiss francs, gross profit decreased by 4.0% to 946 million Swiss francs, and profit before interest and taxes fell by 34.6% to 17 million Swiss franc. Exchange rate fluctuations have a negative impact on net turnover of 4.9% and a negative impact on profits before interest and taxes of 3.8%.
(The article is compiled by Sohang APP)