Revenues up, profits down for Damco

However, leaner margins have resulted in a slight 4% decrease in earning before interest and tax (EBIT) for the company, from $97m in 2011 to $93m in 2012.

The year saw a 6% rise in volumes for Damco’s ocean freight, from 749,500teu to 797,700 teu. Growth was largely attributed to air freight, which nearly doubled.

“I am satisfied about our solid results for 2012”, said Damco ceo Rolf Habben-Jansen. “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.

“In addition to that we have made a number of strategic changes and invested a lot in the future – which masks the underlying trading of our business which is better than the pure numbers show, and that also gives us a lot of confidence going into 2013.”

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