Damco boosts profit and gains market share

by Press Release on 2011-02-24

COPENHAGEN, Denmark – February 24, 2011

Damco - the A.P. Moller - Maersk Group´s logistics arm -, and the 10th largest global supplier of forwarding and Supply Chain Management (SCM) services – yesterday announced a significantly improved annual result compared to 2009.

Damco’s Earnings Before Interest and Tax (EBIT) before restructuring and other one-off costs reached 85 million, compared to USD 45 million in 2009 - and the EBIT margin is up to 3.2 per cent compared to 2.3 per cent in 2009.

“We are pleased with our result for 2010, having improved significantly for the second year in a row. We have continued to gain market share versus most of our main competitors whilst improving customer satisfaction and further strengthening our relative cost position,” CEO Rolf Habben-Jansen says.

In 2010 Damco handled 610,000 TEU (Twenty-foot Equivalent Units) of sea freight - a growth of 13 per cent, 48 million m3 SCM corresponding to approximately two million TEU up 18 per cent compared to 2009 as well as 75,000 tonnes of air freight, 24 per cent higher than 2009. The increased volumes resulted in an increase in revenue to USD 2.7 billion compared to USD 2.2 billion the year before.

In 2011 Damco will continue to focus on organic growth and will investment more to grow in specific industry segments, in air freight and in the emerging markets. 
 
Further information
Mr. Rolf Habben-Jansen, Chief Executive Officer, Damco
Phone +45 33631964
e-mail rolf.habben-jansen@damco.com 

About Damco
Damco is one of the world’s leading third party logistics providers specialising in customised freight forwarding and supply chain solutions, offering a broad range of services to customers all over the world. The company has 9,500 employees in over 280 owned offices across 90 countries with representation in 120 countries in Africa, Asia, Australia, North America, Europe, Middle East, and Latin America.

In 2010, the company had a net turnover of over USD 2.7 billion, managed more than 2.4 million TEU of ocean freight and supply chain management volumes and air freighted more than 75,000 tonnes.

Damco is an independent business activity within the A.P. Moller - Maersk Group.
For more information, please visit www.damco.com.
For more information, please contact:
__________________________________
 
Anette Ustrup Svendsen
Marketing
Damco
Copenhagen, Denmark
 
Phone: +45 3363 5640
Mobile: +45 2138 6955
Fax: +45 3363 5540
Email: anette.svendsen@damco.com
Web: www.damco.com