Gefco reinforces business outside car industry
Gefco has announced its 2017 full year results. Group revenue was EUR 4.4 billion, up 5.1% from EUR 4.2 billion in 2016. Ebitda in 2017 jumped by 16% to EUR 201 million.
Luc Nadal, chairman of Gefco’s management board, said: "Our operational excellence programme, commenced in 2014, made strong progress in turning around the historically loss-making divisions, and reached a milestone in 2017 with both our overland and freight forwarding business returning to profit.”
Gefco made solid gains across all divisions, with a significant portion of the group’s top line growth coming from the market clients segment (i.e. accounts outside of the historical and stable PSA and General Motors mandates).
The group increased these revenues by 8.1% with significant contract wins within the automotive market The company also continued its rapid expansion in non-automotive with new contracts in food, retail and fashion, energy, aerospace and industrial manufacturers. Non-automotive sales now represent over a third of Gefco’s non-PSA revenue. (mw)