Panalpina revenue up 20%, profits down in 2010

Switzerland's Panalpina revenue up 20% - financial highlights for the 12 months ended 31-Dec-2010:

• Net forwarding revenue*: EUR5539 million, +20% year-on-year;
• EBITDA: EUR48.2 million, -21.7%;
• EBIT: EUR11.9 million, -48.5%;
• Net profit (loss): (EUR20.1 million), compared with a profit of EUR8.0 million in p-c-p. [more]

* Based on the conversion rate EUR1 = CHF1.29336

Panalpina: "We anticipate single-digit market growth for both air and ocean freight this year, and seek to win further shares of the market. To this end, we will further expand our global sales organisation and continue to invest in growth markets such as China, India and Brazil, as well as in selected industries. This will include the evaluation of acquisition opportunities," Monika Ribar, CEO. Source: Panalpina, 09-Mar-2011.