Le Lézard
Classified in: Transportation, Business
Subject: ERN

Interim Report Jetpak Top Holding AB (publ) 1 January - 30 September 2019


STOCKHOLM, Nov. 14, 2019 /PRNewswire/ -- Continued satisfactory adjusted EBITA margin development and organic growth        

Quarter 3: 1 July - 30 September 2019

Period: 1 January - 30 September 2019

CEO comments from Kenneth Marx:

During Q3 we have had a continued satisfactory development with an adjusted EBITA margin of 10.7% (9.3%) supported by commercial initiatives and cost efficiency programs. Our organic growth has also seen a positive development during Q3. Our focus on Express Ad Hoc has resulted in a favourable mix that is making good progress towards higher margins, which is also supported by an enhanced commercial focus on high-margin air freight products in our systemized segment. During Q3 we have introduced new campaigns that focus on long tail customers, where the focus areas have been our geographic coverage and flexibility.

The campaigns and a commercial focus on vertical solution selling have fuelled a satisfactory revenue growth of 6.4% (5.4%), and the underlying organic growth is 5.7%, which is a significant improvement from Q2. Total segment growth in Express Ad Hoc equals 9.2% and in Express Systemized 2.4%, which is due to commercial initiatives combined with strong growth in Belgium.

Our long-term growth target (5%) remains unchanged, as we have a strong sales pipeline including potential new orders as well as already signed but not yet activated agreements.

Efforts to improve contribution margins have been successful, as our margin increased to 34.2% (32.0%) in Q3, which is mainly due to a stronger margin and volume growth in the Express Ad Hoc segment.

Our commercial initiatives will continue according to plan, and we maintain our focus on sales efficiency, solution selling and new partnerships, as well as on exploring new systemized solutions and network enhancement. Jetpak is continuously challenging supplier models to provide further cost efficiency, and our Q95 quality project is ensuring a strong quality improvement.

New potential acquisition targets are being explored in Europe and the Nordic countries, and we have intensified our efforts to acquire a company in the local courier and distribution segment, which will ensure a stronger market position and potential pan-Nordic growth. Currently a letter of intent has been signed with one selected target.

Despite some uncertainty and concerns related to macroeconomic indicators in some of our main markets, we have achieved satisfactory growth in terms of revenue and EBITA. Norway has continued its strong growth and Sweden has stabilized at an acceptable level.

Our main Scandinavian competitors among postal operators continue to focus on cost efficiency and scale benefits in volume driven parcel flows, which benefits Jetpak and our continued growth potential.

Despite increased price competition Jetpak is managing to maintain its market share by providing greater flexibility and high quality, which is reducing the risk of margin deterioration and decreasing revenues.

We are cautiously monitoring market developments and are well prepared to meet future market changes thanks to our agile organization and asset light business model. Our commercial initiatives and cost efficiency programs ensure a continued strong position.

Our initiatives, progress and results of 2019 emphasise our journey towards our long-term target and dividend policy.

Kenneth Marx

Solna, 14 November 2019

The company's certified advisor is FNCA Sweden AB, e-mail: info@fnca.se, telephone +46 8 528 003 99.

The information was submitted for publication, through the contact persons mentioned below, on 14 November 2019 at 08.30 CET. This constitutes information that Jetpak Top Holding AB (publ) is required to publish under the EU Market Abuse Regulation.

Kenneth Marx / CEO, phone +46 733685400

Peter Hallman / CFO, phone +46 733685210

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/jetpak-top-holding-ab/r/interim-report-jetpak-top-holding-ab--publ--1-january---30-september-2019,c2961033

The following files are available for download:

https://mb.cision.com/Main/15439/2961033/1140914.pdf

Release


These press releases may also interest you

at 17:00
Continental Honda, a dealership proudly serving Chicago and the whole surrounding area, is currently offering a variety of special financing rates on select Certified Pre-Owned Honda vehicles. Dubbed the Certified Dream Deal sales event, the offers...

at 15:28
Trial lawyers at Kaster, Lynch, Farrar & Ball are named among the finalists for the National Law Journal's Elite Trial Lawyers "Law Firm of the Year" for products liability litigation based on a string of recent legal victories that include large...

at 15:09
Around 800,000 people protested all over France this week in the largest mass strike in over 20 years. The protest came in response to the government's plan for making major changes to the country's retirement system. According to the French rail...

at 15:00
The Ford F-150 boasts a legacy of decades of domination of the large light duty pickup truck segment ? and after all of these years, the legendary nameplate is still leading the way. There's much to like about the 2020 Ford F-150, with its robust...

at 14:30
The "Intelligent Automation Market By Component, By Application, By Vertical, By Region - Global Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering. Global intelligent automation market will grow at a CAGR of more than 8%...

at 14:10
Jeep® Renegade earns Top Safety Pick rating from Insurance Institute for Highway Safety (IIHS) Automatic Emergency Braking (AEB) technology graded "superior;" Forward Collision Warning-Plus among the vehicle's more than 70 available safety and...



News published on 14 november 2019 at 02:45 and distributed by: