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Norbert Dentressangle earnings up 14%


Transport, logistic and freight forwarding firm Norbert Dentressangle (ND) reported revenues of €2,839 million (£2,411 million), a 4.4 per cent increase year-on-year, in full-year results published today.

EBITDA for the 12 months to December 31st 2010 rose 14.1 per cent to €216.3 million whilst operating profit before goodwill and excluding debt increased a huge 32.2 per cent compared to the previous year.

Logistics was the best performing section of the business during the period with operating profit up 20 per cent to €63 million, profit for transport grew to €44.1 million, whilst the newly acquired Schneider Logistics freight forwarding business recorded a small loss in 2010.

ND’s CEO François Bertreau said: “In 2010, Norbert Dentressangle regained momentum. All our transport and logistics activities reported growth in 2010, and the launch of our new freight forwarding business was a success.

“With the acquisition of Schneider Logistics freight forwarding activities, we are now present in North America and Asia.”

Net debt totalled €382 million at the end of the year, down from €445 million in 2009, and gearing stood at 83 per cent, down from 111 per cent 12 months previously.

The European Commission (EC) is currently reviewing the proposed acquisition of UK-based transportation group TDG by ND, with the judgement delayed earlier this month after the EC requested further information from the involved companies.

“Tight management practices have also borne fruit, yielding improved profitability and significantly reduced net financial debt,” Bertreau added.

“Our balance sheet was further strengthened during the year, enabling us to go forward serenely as we complete the acquisition of TDG. In 2011, the integration of TDG will mark a new step in our development, with the extension of our international footprint.”

Published on Tuesday 01 March by Editorial Assistant

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