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Panalpina counters contracting oil and gas business

Panalpina counters contracting oil and gas business

Press Releases   •   Apr 21, 2016 05:00 GMT

Panalpina preserved profitability in the first quarter of 2016 despite the continued contraction of the global oil and gas business. The company reported an EBIT of CHF 24.0 million and a consolidated profit of CHF 17.3 million. In a continuously soft market, transport volumes grew in Air Freight but decreased in Ocean Freight. Logistics reported the fifth positive quarter on EBIT level.

Panalpina delivers stable profitability in first quarter

Panalpina delivers stable profitability in first quarter

Press Releases   •   Apr 22, 2015 05:00 GMT

Panalpina increased its operating result and profit in the first quarter of 2015. Consolidated profit increased 10% to CHF 19.6 million while EBIT increased 3% (currency adjusted: +12%) to CHF 25.3 million. Year-on-year, EBIT and conversion rate increased in Ocean Freight as volumes grew by 5% but decreased in Air Freight where volumes only grew slightly by 1%.