XPO LOGISTICS EUROPE SA 
By A sound performance:
2013 annual revenues up 3.9% to €4 billion
Annual revenues of €4,032 million compared to €3,880 million in 2012, up 3.9% based on reported results and up 2.4% like for like
Transport revenues fell slightly (down 1.2%) to €2,014 million, although there was a confirmed recovery in business volumes in the last quarter
Logistics posted revenues of €1,950 million (up 9.4%), with an accelerating trend throughout the second half
Freight forwarding revenues came to €145 million, including revenues from the consolidated Daher
Group freight forwarding business from 1 October 2013
2013 EBITA will be close to the levels achieved over the past two years, in line with forecasts
Net financial debt is expected to decrease, despite the acquisitions completed in 2013
which is the market leader in its core business sectors. Our Group is reaping the benefits of its significant presence in the recovering British economy and its positioning in business sectors linked to
household consumption, including e-Commerce. The Transport business has confirmed the more favourable trend in its business activities with a regular improvement over the past few months. In the Logistics business, after the positive momentum recorded in 2013, the growth slated for the next few months is strong. In the Freight forwarding business, the consolidation of the Daher Group's revenues
from October 2013 has confirmed the attractiveness of this acquisition, which gives us key positions in
profitable sectors and a unique market positioning in Russia. Based on this performance, reported operating income for 2013 is expected to be close to the levels achieved over the last two years and in line with our expectations".
Annual revenues (€m) | 2013 | 2012 | Change | Change (like for like) |
Transport | 2,014 | 2,038 | -1.2% | -0.6% |
Logistics | 1,950 | 1,783 | +9.4% | +6.7% |
Freight forwarding | 145 | 143 | +1.3% | -17.7% |
Inter-division | (78) | (84)* | NS | NS |
Consolidated Total | 4,032 | 3,880 | +3.9% | +2.4% |
Q4 revenues (€m) | Q4 2013 | Q4 2012 | Change | Change (like for like) |
Transport | 500 | 493 | +1.3% | +1.4% |
Logistics | 541 | 470 | +15.1% | +10.9% |
Freight forwarding | 51 | 41 | +24.5% | -21.8% |
Inter-division | (19) | (25)* | NS | NS |
Consolidated Total | 1,073 | 979 | +9.6% | +5.6% |
*Includes the revenues of the Dagenham facility in the United Kingdom (sold in early October 2012)
1 Thursday 30 January 2014
Norbert Dentressangle's consolidated revenues for 2013 amounted to €4,032 million, up 3.9% compared to 2012 reported revenues. At constant exchange rates and like for like, growth over the same period was 2.4%. There was a negative foreign currency effect of 1.6% over the period.
The fourth quarter reinforced the favourable trend witnessed in the third quarter, with revenue growth of almost 10% compared to Q4 2012.
Norbert Dentressangle's globalisation drive continued apace: 60% of Group revenues are now generated outside France. Britain is the 2nd largest country in terms of contribution to Group revenues, accounting for 30% of total sales. Following the strengthening of our positions in Southern Europe, including the acquisition of the Fiege Group's logistics operations, Spain and Italy consolidated their positions as the 3rd and 4th largest countries in term of contribution to Group revenues. They account for 10% and 5% of total sales respectively.
The Transport business, which posted 2013 revenues of €2,014 million, reported a slight decrease of
1.2% compared to 2012 (down 0.6% like for like). The fourth quarter confirmed the upturn in growth observed in the third quarter: like-for-like growth was 1.3%, a clear sign of continued sales momentum. The various transport businesses fared differently: pallet distribution held up well in all countries, while full loads, which is more exposed to the industrial sector, was hit by adverse market conditions, especially in France. Early 2014, the Group boosted its "Red Europe" pallet distribution business by consolidating the operations of one of its Italian sub-contractors.
Growth in the Logistics business accelerated, with revenues of €1,950 million, up 9.4% based on reported data and up nearly 7% like for like. Fourth quarter like-for-like growth amounted to 11%. The new contracts won in major European markets and in key sectors such as e-Commerce performed well. The revenues also reflect the successful start-up of our new operations in Russia with our customer, Danone. Lastly, the figures include the Italian and Spanish operations acquired from the Fiege Group in the first half of 2013.
2013 consolidated EBITA, due to be announced on 26 February, is expected to be in line with forecasts and comparable to the income achieved over the past two years. The Group's net financial debt will be lower, despite the acquisitions made in 2013.
Next release: 2013 annual results, 26 February 2014 before market opening
About Norbert Dentressangle:
Norbert Dentressangle is an international transport, logistics and freight forwarding company, with annual turnover of €4 billion in 2013. Norbert Dentressangle develops high added value solutions in its three sectors, across Europe, America and Asia, and places sustainable development at the heart of all its activities. It is established in 26 countries, employs 37,500 people and generates 60% of its turnover outside France. Norbert Dentressangle, which is listed on the CAC Small & CAC All Tradable, is headed by Hervé Montjotin.
NYSE Euronext Paris (category B) / NYSE Euronext London, Code GND - Isin FR0000052870 www.norbert-dentressangle.com
2 Thursday 30 January 2014Contacts:
Norbert Dentressangle
Director of Communications:
Thierry Leduc - Tel: +33 4 72 83 66 00
Email: thierry.leduc@norbert-dentressangle.com
Press Relations
Olivier Labesse - Tel: +33 1 40 70 11 89
Email: labesse@dgm-conseil.fr
Thomas de Climens - Tel: +33 1 40 70 11 89
Email: thomasdeclimens@dgm-conseil.fr
Hugues Schmitt - Tel: +33 1 40 70 11 89
Email: h.schmitt@dgm-conseil.fr
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