Business, Forwarding, Freight News

We’re two years early says Geodis chief

[ February 28, 2022   //   ]

French-owned forwarder Geodis said it had achieved its targets in its ‘Ambition 2023’ plan two years ahead of schedule, when it published its 2021 financial results on 28 February. Revenues, at €10.9bn, were up 28% compared to 2020 and 33% compared to 2019, at constant exchange rates. EBITDA earnings were €948m, up 33% above 2020 and 38% higher than in 2019. It added that very strong operating cash flow had led to a substantial reduction in net debt.

Chief executive, Marie-Christine Lombard, declared: “In 2021, GEODIS met the targets of its ‘Ambition 2023’ strategic plan two years ahead of schedule, both in terms of revenue and EBITDA. This performance validates the Group strategy and confirms the value creation for its shareholder, SNCF.

“In less than 10 years, GEODIS, the French leader, has become the fourth largest European player in the logistics sector and the seventh largest in the world, with revenues that have grown by more than 50% and an operating margin that has increased fivefold during this period.”