English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

XPO reports first net profit in five years

GREENWICH, CT: February 22, 2017. XPO Logistics has reported an attributable net profit of US$63.1 million on gross revenue of US$14.61 billion for 2016.

Interest expense for the period was US$361.1 million - up from US$216.7 million in 2015 – for a total of US$577.8 million in the past two years.

Net revenue in 2016 was US$2.66 billion, up from US$1.20 billion year-on-year, with North American LTL services contributing US$1.37 billion, followed by total 'Europe' revenues of US$557.7 million.

XPO LogisticsBrokerage services in North America produced US$361.4 million, a drop from US$392.3 million in 2015; Last mile revenue rose from US$204.3 million to US$247.7 million in 2016, while the company's FTL business tripled in revenue from US$20 million to US$66.1 million year-on-year.

In October last year XPO sold its truckload business to Canadian logistics company Transforce for US$558 million.

The company said it expects an adjusted EBITDA of $1.35 billion in 2017 and US$1.57 billion in 2018, compared to US$1.25 billion in 2016 that excluded $103.2 million of transaction, integration and rebranding costs.

"This year, we'll get the full 12-month benefit of numerous efficiencies we implemented throughout 2016 in procurement, real estate, back office operations and workplace technologies," commented XPO chairman and CEO Bradley Jacobs. "We have more savings to realize in each of these areas, along with cross dock and warehouse automation, labor productivity and the global adoption of best practices."

Jacobs said he was pleased the company's fourth quarter delivered record net income, cash flow from operations, adjusted EBITDA and free cash flow. He cited e-commerce as the driver for last mile and contract logistics growth.

"Our less-than- truckload operations in North America capped an outstanding year with a 40 percent increase in fourth quarter adjusted operating income," he added.

More News

Written on 19/10/2017, 16:33
kerr-to-leave-etihad-cargoABU DHABI, October 19, 2017. Etihad Cargo senior vice president David Kerr is to leave the organization at the end of 2017. The airline said his successor...
Written on 18/10/2017, 18:56
kn-profits-from-eurasia-rail-linksHAMBURG: October 17, 2017. Six months after its launch, Kuehne + Nagel (KN) has added points in northern China, Japan and South Korea to its Eurasia...
Written on 17/10/2017, 21:07
bbc-chartering-and-jumbo-create-project-cargo-allianceLEER, Germany/ SCHIEDAM, Netherlands: October 17, 2017. Heavylift and project cargo ocean carriers BBC Chartering and Jumbo have agreed to collaborate in...
Written on 17/10/2017, 15:53
compressors-support-turkmenistan-gas-for-chinaCALGARY: October 17, 2017. Bolloré Logistics China has chartered four AN-124-100 flights to ship compressor skids from Calgary, Canada to the vast...
Written on 16/10/2017, 19:43
freightweek-news-update-week-42LUXEMBOURG,GD: October 19, 2017. Cargolux has passed its sixth IATA Operational Safety Audit designed to assess the operational management and control...
Written on 16/10/2017, 15:47
maserati-makes-an-entrance-at-naritaMODENA: October 16, 2017. Maserati chartered an Air Bridge Cargo Airlines 747-400 freighter for the Japan launch of its MY18 Maserati GranTurismo and...
Written on 13/10/2017, 18:36
apl-adds-to-guaranteed-service-suiteSINGAPORE: October 09, 2017. APL has renamed its two guaranteed service offerings 'Eagle Guaranteed' and added 'Eagle Go' to the suite with a guarantee of...
Written on 13/10/2017, 16:59
dp-world-to-expand-in-dominican-republicDUBAI: October 12, 2017. DP World is planning to expand its US$400 million Caucedo port operations in the Dominican Republic with a new 400-meter berth...
Written on 12/10/2017, 19:48
hawaii-to-meet-the-maxDALLAS: October 12, 2017. With 44 consecutive years of profitability, Southwest Airlines has announced it will begin service to Hawaii from the U.S....
Written on 12/10/2017, 18:43
skyteam-members-look-towards-joint-ventureGUANGZHOU/AMSTERDAM: October 12, 2017. China Southern Cargo and Air France KLM Martinair Cargo have taken the first step towards a joint venture with the...
Written on 12/10/2017, 16:17
turkish-airlines-outperforms-marketISTANBUL: October 12, 2017. Turkish Airlines reported a 25 percent year-on-year increase in air cargo carried to over 97,000 tons in September as traffic...
Written on 10/10/2017, 16:47
cargolux-signs-cargo-codeshare-with-emiratesDUBAI/LUXEMBOURG: October 10, 2017. Cargolux and Emirates SkyCargo have signed a cargo codeshare agreement for passenger and freighter services. Both...
Written on 10/10/2017, 15:24
freightweek-news-update-week-41PITTSBURGH, PA: October 15, 2017. A Qatar Airways Cargo Boeing 777 freighter arrived at Pittsburgh International Airport last Thursday as the airline's...
Written on 06/10/2017, 21:28
miami-and-iata-agree-air-cargo-outlook-remains-strongGENEVA: October 04, 2017. IATA reports a 12.1 percent year-on-year increase in freight tonne kilometers (FTKs) in August for its members, the fifth time...
Written on 06/10/2017, 17:05
more-flying-fish-from-emirates-sky-cargoCOLOMBO: October 03, 2017. Emirates Sky Cargo says Sri Lanka fish exports have been booming in the past 12 months following the lifting of European...
Written on 05/10/2017, 21:25
wal-mart-to-provide-a-new-parcel-serviceBENTONVILLE, AK: October 03 2017. Walmart has acquired Parcel, a technology-based, 24/7 service that uses routing algorithms to deliver perishable and...
Written on 05/10/2017, 20:44
french-fruit-exporter-acquires-danish-reefersTINGLEY, Denmark: October 03, 2017. British-registered Africa Express Line Ltd (AEL) has acquired 500 Star Cool integrated containers from Maersk...
Written on 05/10/2017, 19:36
qatar-cargo-adds-helsinki-as-finnish-pharma-industry-expandsDOHA: October 03, 2017. Qatar Airways Cargo has added Helsinki as its 74th pharma destination following the addition of Dublin in June this year. Chief...
Written on 05/10/2017, 16:53
volga-dnepr-returns-landshut-to-germanyFRIEDERICHSHAFEN, Germany. October 05, 2017. A former Lufthansa B737-200 aircraft, hijacked in 1977 by a faction of the Popular Front for the Liberation...
Written on 04/10/2017, 19:09
freightweek-news-update-week-40DOHA: October 08, 2017. Qatar Airways Cargo has taken delivery of its 13th B777 freighter. The airline's fleet now includes 22 freighters: eight A330F, 13...

- powered by Quickchilli.com -