LOGISTICS group Geodis has reported revenues of €6,748 million for the first half of 2022, an increase of 34% in comparison to the first half of 2021.
The group said the increase was driven by all its logistics activities, but in particular by freight forwarding.
Geodis’ contract logistics service is reportedly continuing its “rapid development”, particularly in the United States, because of growth in e-commerce.
The group said its road transport line of business experienced good volume levels in France, among other countries. The distribution and express service is still being driven by the development of e-commerce in France.
It said the growth resulted in a “significant increase in profitability”, with EBIT increasing by 52% to €309 million and EBITDA standing at €598 million.
Geodis CEO Marie-Christine Lombard described the results as a “very solid performance” against the backdrop of global supply chain turbulence.
“These good results demonstrate the relevance of our growth model and allow us to press ahead with our strategy of targeted acquisitions as we seek to build a global, integrated network of transport and logistics hubs,” Ms Lombard said.
Geodis said it is focused on maintaining its position in the context of inflation and economic slowdown.
Its short-term outlook reportedly remains positive, however the group highlighted some uncertainty relating to an array of challenges.
“The performance of Geodis operations is good across all lines of business and geographical sectors,” it said.
“Nonetheless, the level of macro-economic uncertainty remains high, with the repercussions of the public health crisis in China, inflationary trends, and significant pressure on maritime capacities, among other phenomena.”
Beyond financial results, the group also highlighted its recent acquisitions around the world, such as the acquisition of PEKAES in Poland and of Gandon Transports and Transports Perrier in France.
It also noted its acquisitions of Keppel Logistics, which is expected to strengthen Geodis’ presence in the contract logistics sector in the Asia-Pacific region, especially in Singapore.
In terms of ESG initiatives, Geodis said it has ordered an additional 120 natural gas vehicles, bringing the number of bio-CNG-powered trucks ordered for last-mile deliveries in city centres to 320.
The group has also teamed up with French truck manufacturer Renault Trucks to develop a new electric truck designed specifically for urban logistics.
Geodis is also expanding its rail network in Europe with a new rail line connection France and Italy.
The group has also reported the appointment of three new members to its executive committee throughout the first half of 2022.
Celeste Thomasson was appointed the group’s general counsel with responsibility for legal affairs, insurance, compliance and audit; Pascale Dubois was appointed executive vice president, group communications and brand; and Laurent Melaine was appointed chief commercial and marketing officer.
