Panalpina in the second quarter of this year, compared with a marked decrease in turnover (-14.0%), reported a sharp improvement in economic performance over the corresponding period of 2010. The Swiss logistics group ended the period April to June this year with a net profit of 32.0 million Swiss francs of net income of 1.6289 billion Swiss francs compared to a net loss of 92.6 million Swiss francs of net income of 1.8938 billion Swiss francs in the second quarter last year. EBITDA and EBIT, respectively, were positive for 53.7 million and 44.3 million Swiss francs against negative for 63.6 million and 77.6 million Swiss francs in the period April to June 2010.
In the first half of 2011 the group achieved a net profit of 66.9 million Swiss francs of net income of 3.2808 billion Swiss francs compared to a net loss of 92.5 million Swiss francs of net income for 3.4816 billion Swiss francs in the first half of last year.EBITDA and EBIT were positive for 109.4 million and 90.7 million Swiss francs compared to negative for 53.6 million and 78.2 million Swiss francs in the first six months of 2010.
Panalpina CEO Monika Ribar said with satisfaction the return to profit obtained by the group, but also highlighted the further deterioration in the market: the plan to return to profit Panalpina started last year - he explained - he had an impact on the development of volumes, however - he added - "after concluding some contracts are characterized by high volumes and low margins, we are now able to replace these volumes rather quickly with new activities, but at this point, the market slowdown in the second quarter of 2011 does not help. "
In view of the economic slowdown, Monika Ribar believes that trade and the world market will be weaker than previous forecasts. In particular, Panalpina has revised downward its growth forecasts for the year 2011 the sector of air shipments are now one of +1-2% and +5% of the shipping."In a market downturn - said - in 2011 will be difficult to match or exceed market growth, but we have laid the groundwork for future sustainable and profitable growth and we are absolutely confident that we can achieve the financial targets that we we recently set ourselves for 2014. "
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
Panalpina in the second quarter of this year, compared with a marked decrease in turnover (-14.0%), reported a sharp improvement in economic performance over the corresponding period of 2010. The Swiss logistics group ended the period April to June this year with a net profit of 32.0 million Swiss francs of net income of 1.6289 billion Swiss francs compared to a net loss of 92.6 million Swiss francs of net income of 1.8938 billion Swiss francs in the second quarter last year. EBITDA and EBIT, respectively, were positive for 53.7 million and 44.3 million Swiss francs against negative for 63.6 million and 77.6 million Swiss francs in the period April to June 2010. 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
