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CLASQUIN — Earnings Release 2017
Oct 26, 2017
1205_10-q_2017-10-26_0a7748ba-1c7a-465d-b91d-3d577b7b3786.pdf
Earnings Release
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FINANCIAL PRESS RELEASE
www.clasquin.com
Lyon, 26 October 2017 (after market closure)
ROBUST BUSINESS VOLUMES AND GROSS PROFIT GROWTH IN Q3, IN LINE WITH H1 PERFORMANCE
| Sept 2017 9 months |
Sept 2016 9 months |
Sept 2017/ Sept 2016 (at current exchange rate) |
Sept 2017/ Sept 2016 (at constant exchange rate) |
Q3 2017/ Q3 2016 |
|
|---|---|---|---|---|---|
| CONSOLIDATED (unaudited) | |||||
| Number of shipments | 181,527 | 164,223 | +10.5% | +10.5% | +14.3% |
| Sales (€M) * | 210.3 | 165.9 | +26.8% | +27.0% | +25.3% |
| Gross profit (€M) | 45.9 | 42.2 | 8.8% | +9.1% | +8.7% |
* Sales is not a relevant indicator for assessing activity in our business, because it is greatly impacted by changing sea and air freight rates, fuel surcharges, exchange rates (especially versus the \$), etc. Variations in the number of shipments, the volumes shipped and—in terms of the Group's finances—gross profit are relevant indicators.
BUSINESS REVIEW
In a persistently buoyant market, Q3 saw accelerated growth across all business lines in terms of number of shipments and volumes shipped. This robust growth was mainly driven by the Group's capacity to acquire new clients and validates the ongoing expenditure designed to boost its ability to outperform the market.
Gross profit in the air and sea freight businesses (81% of total Group gross profit) increased by over 13% in Q3, reflecting steady unit margins.
The RO/RO business (10% of Group gross profit) saw a slight decline in gross profit due to the temporary impact of a new client mix.
The gross profit posted by the "Others" business line (6% of Group gross profit) was impacted by an unfavourable basis of comparison.
FINANCIAL PRESS RELEASE
www.clasquin.com
DETAILS ON ACTIVITY BY BUSINESS LINE
| Number of shipments | Gross profit (€M) | |||||||
|---|---|---|---|---|---|---|---|---|
| At current exchange rate | 30.09.2017 | 30.09.2016 | 30.09.2017/ 30.09.2016 |
Q3 2017/ Q3 2016 |
30.09.2017 | 30.09.2016 | 30.09.2017/ 30.09.2016 |
Q3 2017/ Q3 2016 |
| Sea freight | 83,963 | 75,524 | +11.2% | +14.9% | 22.5 | 20.5 | +10.2% | +13.9% |
| Air freight | 58,240 | 53,016 | +9.9% | +13.1% | 14.8 | 13.1 | +12.9% | +13.5% |
| RO/RO* | 28,039 | 24,864 | +12.8% | +17.8% | 4.6 | 4.7 | -1.7% | -5.3% |
| Others | 11,285 | 10,819 | +4.3% | +8.2% | 3.1 | 3.1 | +1,5% | -17.6% |
| TOTAL OVERSEAS ACTIVITY |
181,527 | 164,223 | +10.5% | +14.3% | 45.1 | 41.3 | +9.1% | +9.0% |
| Log System | 2.0 | 1.8 | +9.5% | -0.2% | ||||
| Consolidation entries | -1.1 | -0.9 | NA | NA | ||||
| TOTAL CONSOLIDATED | 45.9 | 42.2 | +8.8% | +8.7% | ||||
| * Roll On / Roll Off |
| Volumes | ||||||
|---|---|---|---|---|---|---|
| 30.09.2017 | 30.09.2016 | 30.09.2017/ 30.09.2016 |
Q3 2017/ Q3 2016 |
|||
| Sea freight | 126,822 TEUs* | 107,100 TEUs* | +18.4% | +23.6% | ||
| Air freight | 44,537 T** | 36,438 T** | +22.2% | +16.8% | ||
| *Twenty Equivalent Units | **Tons |
Q3 2017 HIGHLIGHT
The deployment of our new Transport Management System (TMS), CargoWise One (published by market leader Wisetech), is progressing according to plan.
Following deployment in Milan (April) and Hong Kong (June), our Chinese subsidiary (7 offices) has now migrated to this new system.
2017 OUTLOOK
Market
Growth of more than 3-4%.
Clasquin
Growth significantly higher than market growth.
UPCOMING EVENTS (publication after market closure)
- Wednesday 21 March 2018: 2017 Annual results
- Wednesday 19 September 2018: 2018 Half year results
- Thursday 22 February 2018: Business report as at 31 December 2017 Thursday 26 April 2018: Business report as at 31 March 2018 Thursday 30 August 2018: Business report as at 30 June 2018
- Thursday 25 October 2018: Business report as at 30 September 2018
CLASQUIN CONTACTS
Philippe LONS – Deputy Managing Director and CFO Stéphanie CHALANDON – Financial Communication contact
CLASQUIN Group – 235 cours Lafayette – 69006 Lyon Tél : 04 72 83 17 00 – Fax : 04 72 83 17 33
Clasquin is an air and sea freight forwarding and overseas logistics specialist.
The Group designs and manages the entire overseas transport and logistics chain, organising and coordinating the flow of client shipments between France and the rest of the world, and more specifically to and from Asia-Pacific and the United States. Its shares are listed on Alternext Paris, ISIN FR0004152882, Reuters ALCLA.PA, Bloomberg ALCLA FP. For more information, see www.clasquinfinance.com.
CLASQUIN confirms its eligibility for the new share savings plan for MSCs (medium-sized companies) in accordance with Article D221-113-5 of the French Monetary and Financial Code established by decree number 2014-283 of 4 March 2014 and with Article L221-32-2 of the French Monetary and Financial Code which set the conditions for eligibility (less than 5,000 employees and annual sales of less than 1,500 million euros or total balance sheet of less than 2,000 million euros). Clasquin is part of Enternext©PEA-PME 150 index.