Air freight drives strong performance in 2017 at cargo-partner

posted on 13th June 2018 by Justin Burns
Air freight drives strong performance in 2017 at cargo-partner

Austrian logistics provider cargo-partner posted a further increase in sales in 2017 as group turnover reached €698 million – which was primarily driven by strong growth in air freight.

The company said it registered an especially strong growth in air where tonnage rose last year by 23 per cent to 171,000 tonnes. Sea freight tonnage was also up by nine per cent to 1.83 million tonnes and trucking and logistics was over one million tonnes for the first time at 1.01 million tonnes.

In the past year, cargo-partner handled a total of 1,001,500 shipments. This is approximately 90,000 units more than in 2016.

The 2017 turnover figure was a rise of over 26 per cent from €555 million in 2016. During the same time period, total assets have increased from €143 million to a total of 189 million. Cargo-partner’s net profit was €6 million with €56 million in equity, which corresponds to an equity ratio of 30 per cent.

Chief executive officer, Stefan Krauter said: “We had a successful start into the business year and have achieved volume growths in all our business areas. The general upward trend was further strengthened by the global economic upswing.

“We are delighted to confirm that we are remaining on course and we will do everything we can to continue on this path.”

Cargo-partner is expanding its infratructure footprint and a newly-constructed iLogistics Center at the company headquarters near Vienna Airport with a total area of over 12,200 square metres will open this autumn.

The logistics company is developing its logistics centre in Dunajska Streda, Slovakia by adding 4,000 square metres to the 14,200 square metre facility and it will add new warehouse locations in Ljubljana (25,000 square metres, opening in 2019) and Hong Kong (3,000 square metres) which is opening this winter.