GEFCO Announces Revenue and Profit Increases in 2017 First Half
21st September 2017
Automotive and industrial logistics specialist GEFCO Group has announced increased revenues for the first half of 2017. Revenues are listed as €2.262 billion (up 1.9%) with EBITDA of €115 million (up 25.8%) for the first half of 2017.
Luc Nadal, Chairman of the Management Board of GEFCO Group, says: “At mid-year, GEFCO confirms the positive trend of its operational and financial performance already shown in 2016, with a growth in EBITDA of 25.8 %. Moreover, the growth of revenues of 1.9% demonstrates the strength of our relationships with our historical customers and the continuing strong commercial performance in our broader customer base where we have achieved a 6% increase.”
The increase was driven mainly by the recovering European car market, a strengthened European economy and the continuing focus to expand its customer portfolio across global accounts. The significant improvement in profitability is “the result of the proactive policy launched by GEFCO to optimise procurement management and reduce fixed costs”. The Group says its asset-light business model also contributed to efficient cost management by the company.