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Nor Lines adds Rotterdam to LNG-powered Norway service
ROTTERDAM: April 22, 2018. Nor Lines, a subsidiary...

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AAL adds to its European agency network
SINGAPORE: April 19, 2018. Breakbulk and project c...

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DFDS to acquire Turkey's U.N. Ro-Ro
COPENHAGEN: April 18, 2018. European short-sea RoR...

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Etihad Cargo supports bustard relocation
ABU DHABI: April 18, 2018. In the past three years...

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New CMA CGM rail link between UK and China
LONDON GATEWAY: April 18, 2018. GB Railfreight, ow...

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Dutch add more short-sea capacity to London
LONDON: April 18, 2018. Dutch-based A2B-online Con...

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Saudia Cargo gets new CEO
JEDDAH, Kingdom of Saudi Arabia: April 17, 2018. F...

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Turkish Cargo to introduce new routes
ISTANBUL: April 17, 2018. Turkish Cargo is to begi...

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South Carolina opens second inland port
DILLON, SC: April 16, 2018. The South Carolina Por...

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Nor Lines adds Rotterdam to LNG-powered Norway service...
AAL adds to its European agency network
DFDS to acquire Turkey's U.N. Ro-Ro
Etihad Cargo supports bustard relocation
New CMA CGM rail link between UK and...
Dutch add more short-sea capacity to London
Saudia Cargo gets new CEO
Turkish Cargo to introduce new routes
South Carolina opens second inland port

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PRESS RELEASE

February 18, 2015: For the full year 2014, XPO Logistics reported total revenue of $2.4 billion, a 235.6% increase from 2013. Net loss for the year was $63.6 million, compared with a net loss of $48.5 million for 2013.

The net loss available to common shareholders was $107.4 million, or a loss of $2.00 per diluted share, compared with a net loss available to common shareholders of $51.5 million, or a loss of $2.26 per diluted share, for 2013.

The net loss available to common shareholders for 2014 includes a $40.9 million non-cash accounting charge related to the beneficial conversion features of the previously announced $700 million equity private placement completed in September 2014.

Adjusted net loss available to common shareholders for 2014 excludes: a $40.9 million non-cash accounting charge related to the beneficial conversion features of the previously announced $700 million equity private placement; $23.6 million, or $16.3 million after-tax, of transaction and integration costs related primarily to the acquisitions of New Breed, Pacer and ACL; debt commitment fees of $14.4 million, or $8.9 million after-tax, related to the acquisitions of New Breed and Pacer; $5.5 million of costs related to the conversions of the company's convertible senior notes; $3.3 million, or $2.0 million after-tax, of accelerated amortization of trade names; and $1.2 million, or $0.8 million after-tax, of charges related to the rebranding of the company's ground expedited and last mile businesses.

Adjusted EBITDA improved to a gain of $81.4 million for the full year 2014, compared with a loss of $25.5 million for 2013. Adjusted EBITDA excludes $23.6 million of transaction and integration costs related primarily to the acquisitions of New Breed, Pacer and ACL, and $1.2 million of charges related to the rebranding of the company's ground expedited and last mile businesses for 2014; and includes $7.5 million and $4.7 million of non-cash share-based compensation for 2014 and 2013, respectively. A reconciliation of adjusted EBITDA to net loss available to common shareholders is provided in the attached financial tables.

In 2014, XPO Logistics became the third largest freight brokerage firm in North America, the third largest provider of intermodal services, and a leading provider of highly engineered, technology-enabled contract logistics. In addition, the company:

  • Tripled its annual revenue run rate year-over-year to more than $3 billion as of December 31, including 45% organic growth;
  • Exceeded its annual EBITDA run rate target of approximately $150 million at year-end;
  • Completed three strategic acquisitions: Pacer International, ACL and New Breed Logistics;
  • Opened truck brokerage cold-starts in Kansas City, Mo.; Denver, Colo.; and Nashville, Tenn.; and opened a freight forwarding cold-start in Seattle, Wash.;
  • Grew its truck brokerage cold-starts to an annual revenue run rate of more than $270 million;
  • Increased over-the-road capacity to more than 4,100 trucks under contract to its drayage, expedited and last mile subsidiaries, with additional relationships with over 30,000 other carriers as of December 31, 2014;
  • Increased critical mass to 197 locations and approximately 10,000 employees as of December 31, 2014;
  • Rebranded its Express-1 expedited business as XPO Express, and rebranded its 3PD and Optima last mile businesses as XPO Last Mile; and
  • Integrated its expedited operations – XPO Express, XPO NLM and XPO Air Charter– as one expedited group to serve customers more synergistically.

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