Logistics Provider Damco Reports Positive Half-year 2012

Damco  announce continued good progress moving into the second half of 2012 despite tough conditions in the global freight markets.

Damco is part of the A.P. Moller - Maersk Group, and specializes in customised freight forwarding and supply chain solutions.

Damco’s net revenue grew by 12% to 1,543 USD million compared to the same period last year. Gross profit is up 5% to USD 379 million. Damco´s EBIT for the first half of 2012 grew 42% to USD 51 million.

In the first half of 2012, Damco’s ocean freight volumes increased 9% compared with the same period in 2011, whilst airfreight tonnage growth was 135%. The latter includes the effects of the acquisition of the Chinese air freight forwarder NTS, but the underlying organic growth was still 42%. Damco’s supply chain management volumes increased 3% during the first half of 2012, driven by new recently secured accounts that started to ship with Damco in Q2.

“Our results continue on the right path. Year-on-year our new business wins are up by over 20%. We continue to win more and more regular customers in our target industry verticals – despite the challenging market conditions in a number of key markets”, Rolf Habben Jansen, CEO of Damco, commented. 
“We expect that for the full year 2012 we will deliver above market growth in all of our main products – and our EBIT in 2012 will again be better than in 2011,” concludes Rolf Habben-Jansen."