Netherlands-based freight forwarder Damco nearly doubled its airfreight tonnage in 2012.
The company, which has nearly completed the move of its headquarters from Copenhagen to The Hague, achieved a growth rate of 91 percent. This was partly due to the full-year effect of the acquisition of NTS (a China-based freight forwarder) in August 2011. Even so, Damco’s growth in airfreight was well into double digits when the acquisition is excluded.
Overall, Damco reported a 19 percent increase in net revenue compared to 2011. Net revenue in 2012 increased to $3.27 billion from $2.75 billion. in 2011. Gross profit rose by 7 percent to $807 million.
“I am satisfied about our solid results for 2012,” said Rolf Habben-Jansen, CEO of Damco. “We continue to grow and develop our business, in spite of continued difficult market conditions. I am particularly pleased that we have taken full advantage of our acquisition of NTS, and that all of our products continue to grow organically faster than the market.”
Damco shipped 6 percent more ocean volume compared to 2011. Supply chain management volume returned to growth and ended 5 percent higher than 2011.
Early in 2012 Damco announced a restructuring of its European operations, which were split in East and West Europe regions. In October, Damco acquired the freight forwarder Pacific Network Global Logistics, which significantly strengthened its position in Oceania.