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Panalpina revenues increase 39% but losses depend in Jun-2010 quarter

5-Aug-2010 1:07 PM

Panalpina revenue up 38.9% - financial highlights:

  • Three months ended 30-Jun-2010:
    • Revenue*: EUR1,366 million, +38.9% year-on-year;
    • Operating profit (loss): (EUR56.0 million), compared with a profit of EUR17.1 million in p-c-p;
    • Net profit (loss): (EUR66.8 million), compared with a profit of EUR10.8 million in p-c-p;
    • Free cash flow: (EUR45.4 million), compared with a negative cash flow of EUR5.5 million in 2Q2009;;
  • Six months ended 30-Jun-2010:
    • Revenue: EUR2,512 million, +17.1%;
    • Operating profit (loss): (EUR56.4 million), compared with a profit of EUR19.2 million in p-c-p;
    • Net profit (loss): (EUR66.8 million), compared with a profit of EUR12.2 million in p-c-p;
    • Total assets: EUR1,488 million, +7.1% when compared with period ended 31-Dec-2009;
    • Total liabilities: EUR917.3 million, +19.8%;
    • Free cash flow: (EUR62.2 million), compared with a positive cash flow of EUR96.2 million in 1H2010. [more]

*Based on the conversion rate at EUR1 = CHF1.38588

Panalpina: "I am convinced that the measures we have put in place are taking effect and look forward to our future business development with confidence. In the coming months profitability will remain our chief priority … although higher volumes are likely to put pressure on our cost base, we shall continue to operate on the principle of sustainable profitable growth,” Monika Ribar, CEO. Source: Panalpina, 04-Aug-2010.