Last year, Damco nearly doubled its airfreight tonnage when compared to 2010. The company’s acquisition of Chinese airfreight forwarder formerly known as New Times Transportation helped propel the 47-percent growth rate.
Damco’s ocean business experienced a 15-percent rise, while reduced imports for U.S. retailers were to blame for a 3-percent drop in supply-chain management volumes. Earnings before interest and tax for the entire company increased by 29 percent, year-over-year, topping out at $97 million. Damco’s total revenue grew to $2.8 billion.
The August deal for NTT (now known as NTS), without a doubt, stands as the highlight of Damco’s year in airfreight. “Our acquisition of NTS, the Chinese air freight forwarder, further demonstrates our commitment to growth markets and building a strong air freight platform to complement our supply chain management and ocean forwarding services,” Rolf Habben-Jansen, Damco’s CEO, said in a statement.
For the first half of 2011, airfreight tonnages were only up, year-over-year, by 11 percent. At that time, Habben-Jansen pledged to concentrate on IT development and enhancing customer service to improve supply-chain operations.
“We are winning more and more large customers and securing strategically important wins within our key target industry verticals,” he said in August.