Panalpina Mexico expands logistics manufacturing s
The company says the move is prompted by the exponential growth of the telecoms infrastructure market with the advent of 5G technology and the subsequent need to upgrade network components.
As Panalpina was already delivering most of the components to the sites, it worked out how to consolidate and deliver them all together. The next step was to overcome the lack of installation coordination by creating a team of fully qualified telecoms personnel in Mexico.
Panalpina has reported a 3.0 percent drop in 2019 Q1 gross profit to CHF358.1 million, while total operating expenses declined to CHF290.0 million. EBIT and consolidated profit increased year-on-year by 15 percent and 16 percent respectively. EBIT reached CHF28.1 million compared to CHF24.4 million a year before and the EBIT-to-gross-profit margin stood at 7.9 percent, up from 6.6 percent in 2018.
The Q1 consolidated profit increased from CHF16.6 million to CHF19.2 million. Good news for the proposed DSV/Panalpina share swap.
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