The international logistics provider and freight forwarder attributed the results to growth in all three of its business units and the acquisition of US-based Jacobson Companies.
International logistics, transportation and freight forwarding company Norbert Dentressangle reported consolidated revenues of 4.67 billion euros (U.S. $5.24 billion) for the full year in 2014. The result represents a 15.8 percent increase from the same period in 2013.
Net income for the company was 75.9 million euros in 2014, up 8 percent from 70.1 million euros in 2013.
The company attributed the increase in revenue to growth in all three of its business unit – Logistics, Transport, and Air and Sea – as well as its strategic acquisition of the Jacobson Companies.
Norbert Dentressangle purchased Jacobson, an Iowa-based warehouse and third party logistics provider, for an estimated $750 million in cash. The deal, effective Sept. 1, 2014, has made Norbert Dentressangle the fourth largest logistics operator in the U.S. market, according to a statement from the group.
The company said consolidated revenues of the former Jacobson Companies were $780 million in 2014, and were “in line with expectations… thus confirming the merits of this acquisition.”
The company’s Logistics unit posted revenues of 2.36 billion euros in 2014, up 20.9 percent from 2013. Its Transport division posted revenues of 2.19 billion euros, up 8.7 percent from 2013. And Air & Sea posted revenues of 206 million, up 42.2 percent from 2013.
The company added that 64 percent of its revenues are now generated outside France, with the United Kingdom contributing the second largest percentage of group revenue at 29 percent of total sales, the United States contributing the third most, and Spain contributing the fourth most at 12 percent.
“In accordance with our strategy to become a leading supply chain management partner, in 2014 Norbert Dentressangle reached a new milestone in terms of size by achieving 15.8 percent growth,” said CEO Hervé Montjotin. “As well as attaining a global dimension by becoming the fourth largest logistics operator in the US, we have also strengthened our positioning on key markets such as e-Commerce.
“The growth in revenues across all our business lines – Logistics, Transport and Air & Sea – was matched by an increase in EBITA, giving us a consolidated EBITA margin of 3.6 percent,” added Montjotin. “After four months of successful integration of the Logistics and Transport businesses acquired in the US, all performance indicators are in line with our expectations in terms of growth rate and profitability. This confirms the benefits of this acquisition.
Looking forward, Montjotin said, “These results, our strong and well-managed financial position and our staff fully focused on driving operational performance, will enable Norbert Dentressangle to take advantage of growth opportunities in 2015 across all of its business lines and operating regions.”
Norbert Dentressangle increases revenue 15.8%
