Panalpina’s air, ocean freight vertical’s volume increases; margins remain under pressure | Supply Chain

Panalpina’s air, ocean freight vertical’s volume increases; margins remain under pressure | Supply Chain
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Panalpina’s group gross profit decreased 9 percent to CHF 332.7 million in the first quarter of 2017 (Q1 2016: CHF 364.9 million), while total operating expenses were reduced by 7 percent to CHF 305.7 million (Q1 2016: CHF 328.7 million) year on year. In the first quarter of 2017, the international freight forwarding and logistics company achieved an EBIT of CHF 16.4 million (Q1 2016: CHF 24.0 million), a decrease of 32 percent compared to last year’s first quarter. The EBIT-to-gross-profit margin came in at 4.9 percent (Q1 2016: 6.6 percent) and the consolidated profit of the group reached CHF 12.4 million (Q1 2016: CHF 17.3 million).

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