2014 annual revenues up 15.8% to €4,669 million
* Annual revenues of €4,669 million compared to €4,032 million in 2013, up
15.8% based on reported results and up 4.1% like for like
* Logistics becomes Norbert Dentressangle's leading business, with revenues
up 20.9% (5.7% like for like) to €2,359 million
* Transport posted revenues of €2,188 million, up 8.7% (2.6% like for like),
boosted by the strong performance of the pallet distribution business
* Air & Sea revenues came to €206 million, up 42.2% (2.8% like for like).
Confirmed acceleration of like-for-like growth to 8.6% in the fourth
quarter
* First stage of Jacobson integration completed according to plan
* 2014 operating margin (EBITA margin) close to the levels achieved over the
past few years
* Net debt under control following the acquisition of US-based Jacobson in
2014
Hervé Montjotin, Chief Executive Officer, commented on the Group's performance
in 2014: "In 2014 Norbert Dentressangle reached a significant new milestone of
international proportions in its strategy for the provision of services to its
customers. The 4.1% like-for-like growth achieved in 2014 corroborates this
long-term strategic plan. All three divisions achieved growth in 2014:
Logistics, now the Group's leading business and still growing; Transport,
despite sluggish economic conditions in France; and last but not least, Air &
Sea, which has consistently increased its growth rate since the second half. In
the US, the first phase of the Jacobson integration proceeded according to plan
and our US staff are now fully focused on the performance of our businesses in
2015. In the light of these achievements and our tight control of operations
across all our business lines, we expect the 2014 EBITA margin to be in line
with the values reported over the past few years."
Annual revenues 2014 2013 Change Change
(€m) (like for like)
Logistics 2,359 1,950 +20.9% +5.7%
Transport 2,188 2,014 +8.7% +2.6%
Air & Sea 206 145 +42.2% +2.8%
Inter-division (118) (108) n/a n/a
Consolidated Total 4,669 4,032 +15.8% +4.1%
Q4 revenues 2014 2013 Change Change
(€m) (like for like)
Logistics 689 541 +27.3% +3.4%
Transport 571 500 +14.2% -0.4%
Air & Sea 57 51 +11.0% +8.6%
Inter-division (28) (25) n/a n/a
Consolidated Total 1,294 1,073 +20.6% +1.7%
Annual revenues 2014 2013 Change Change
by geographic region (like for like)
(€m)
France 1,690 1,611 +4.9% +1.1%
UK 1,343 1,218 +10.3% +4.4%
US 225* 21 n/a n/a
Spain 556 421 +32.0 % +9.6%
Other countries 855 761 +12.3% +8.7%
* including 4 months' revenues from the US Jacobson Companies
Norbert Dentressangle posted consolidated revenues of €4,669 million for 2014,
up 15.8% from 2013 reported revenues. Like-for-like growth compared to 2013
amounted to 4.1%. A currency gain of 1.7% was recorded for the year.
Norbert Dentressangle's globalisation drive continued apace with 64% of Group
revenues now generated outside France. The UK is the second largest country in
terms of contribution to Group revenues, accounting for 29% of total sales.
Following the acquisition of Jacobson, the United States is now the third
largest contributor to Group revenues. Spain is in fourth place, accounting for
12% of total revenues and growing fast.
Performance by division in 2014
Logistics, now the Group's No. 1 division, maintained its growth rate and
posted revenues of €2,359 million, up 20.9% based on reported data and up 5.7%
like for like. These figures include four months' revenues from Jacobson in the
United States, a fast-growing market in which Norbert Dentressangle has become
the fourth largest contract logistics provider. In 2014, Norbert Dentressangle
further strengthened its presence in the e-Commerce logistics sector, where it
is one of the leading European operators.
The Transport division posted 2014 revenues of €2,188 million, up 8.7% based on
reported data and a 2.6% increase like for like. Although the sluggish
situation in France has impacted the full load transport business in
particular, the pallet distribution business maintained strong momentum
throughout the year. Fourth quarter revenues were affected by the drastic drop
in oil prices, which triggered a corresponding fall in our transport service
prices.
Air & Sea posted 2014 revenues of €206 million, up 42.2% from 2013 based on
reported data and up 2.8% like for like. These figures point to the division's
strong fundamentals which will continue to drive its future growth.
The 2014 consolidated EBITA margin, due to be announced on 26 February, is
expected to be in line with forecasts and comparable to the levels achieved
over the past few years. Group net debt is under control following the
acquisition of Jacobson in 2014 and despite the strengthening of the US dollar
against the euro.
Next release: 2014 annual results, 26
February 2015 before market opening