Although the Panalpina Group increased its transport volumes in the air freight segment by 10% between the second and third quarter, volumes were 25% down year-on-year based on a 9-month comparison.
Notwithstanding growth of 13% between the second and third quarter, the ocean freight segment also fell significantly below expectations on a 9-month comparison, with volumes
18% down compared to the previous year.
Gross profit in the first nine months declined by nearly 19% year-on-year and was reduced by about 4% compared to the second quarter.
Due to the cost-saving program implemented by the Panalpina Group, the cost development is in line with the objectives already communicated by the company.
A breakdown of the quarterly figures and additional information will be published on 5 November 2009 as announced.