10 October 2018
Solid revenue growth of 6.2% driven by strong sales of integrated logistics solutions
“Our expertise in integrated logistics allows us to develop solutions in line with our customers’ growing logistics requirements,” stated Emmanuel Arnaud, GEFCO’s Executive Vice President of Sales and Marketing. ”In the first half of 2018, we continued to diversify our customer base and geographies, achieving a significant increase in sales in Central Europe and the Middle East. GEFCO is on a positive track and we expect to expand our portfolio in North Africa by the end of the year.”
Strong financial results with improvement in profitability
H1 2018 key financials*
Revenues (€ million)
EBITDA (€ million)
Recurring EBIT (€ million)**
* H1 2018 financials are accounted for under new IFRS 16 / H1 2017 not restated for new IFRS 16.
** Recurring EBIT is measured before non-recurring operating income and expenses.
In the first half 2018, GEFCO Group achieved a turnover of €2,402 million, up 6.2% compared to the same period in 2017. This increase included 11.6% growth in GEFCO’s Value Key Accounts (international integrated logistics customer portfolios) across the automotive, consumer goods, healthcare and energy sectors.
EBITDA for the first six months of 2018 amounted to €165.4 million under IFRS 16 . Excluding IFRS 16 impact, EBITDA for the period amounted to €121.9 million, an increase of 11.6% compared to the same period in 2017.
In the first half of 2018, Recurring EBIT reached €94.9 million over the period under IFRS 161 (excluding IFRS 16, Recurring EBIT reached €93.5 million).
“We are pleased to have achieved strong financial performance in the first half of 2018,” commented Pavel Ilichev, GEFCO’s Executive Vice-President of Finance & Strategy. Our continued improvement in profitability reflects the Group’s commitment to excellence and an ongoing drive to improve operational efficiency throughout the organization.”
Luc Nadal, Chairman of GEFCO’s Management Board highlights. “Our positive results highlight GEFCO’s capacity to consistently meet the needs of our longstanding customers in the automotive sector, such as Groupe PSA, while continuing to grow and create value in other sectors. Our asset-light business model and robust financial position continue to offer tremendous opportunities to pursue a dynamic and diversified growth strategy.”
Focus on growth through strategic alliances and launch of GEFCO Innovation Factory
In January 2018, the Group successfully launched a new brand signature, “GEFCO. Partners, unlimited”, to engage all stakeholders in its commitment to building long-lasting relationships and creating value. A global advertising, print and digital campaign was created to highlight the Group’s supply chain expertise and commitment to partnerships.
GEFCO is also paving the way for future growth by engaging with employees to generate new ideas and by building strategic external partnerships to further boost innovation. The Group launched GEFCO Innovation Factory to encourage intrapreneurship, and announced a partnership with Techstars, a world-leading accelerator, to collaborate with start-ups on innovative concepts that will help grow the business.
GEFCO pursues its strategy of investing in partnerships to support market growth. On July 3rd, the Group signed an agreement with Spanish car importer Bergé to merge the two companies’ Spanish finished vehicle businesses into a new market leader in Spain. “GEFCO has a proven financial and external growth track record and we are well-placed to capitalize on selected growth opportunities” highlighted Luc Nadal Chairman of GEFCO’s Management Board. “Our strategic alliance with Bergé is a great example of how we can create value for our customers and all stakeholders through cooperation.”
 GEFCO opted for an early implementation of IFRS 16 starting January 2018, using the modified retrospective approach, which requires the recognition of the cumulative effect of initially applying IFRS 16, as of January 2018 to the retained earnings and not restate prior years.
Our continued improvement in profitability reflects the Group’s commitment to excellence and an ongoing drive to improve operational efficiency throughout the organization.
GEFCO’s Executive Vice-President of Finance & Strategy
Pablo Leguay - GEFCO GROUP - Tel: +33(0)1 49 05 28 12 - firstname.lastname@example.org
Susan Marro - GEFCO GROUP - Tel: +33(0)1 49 05 23 12 - email@example.com
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