FM Logistic reports 11.8 percent increase in revenues to €1.3 billion
July 15, 2019: FM Logistic reported revenues of €1,318 million in the year ending March 2019, up 11.8 percent year-on-year, and earnings before interest and taxes (EBIT) of €35.1 million, up 32 percent from last fiscal year’s €26.5 million.
July 15, 2019: FM Logistic reported revenues of €1,318 million in the year ending March 2019, up 11.8 percent year-on-year, and earnings before interest and taxes (EBIT) of €35.1 million, up 32 percent from last fiscal year’s €26.5 million. The revenue growth is 15 percent adjusted for currenct effects.
“FM Logistic delivered a solid performance in fiscal 2018-19 with a double-digit growth in revenues and EBIT. Revenue growth was exclusively organic, a sign of customer confidence. The profitability improvement reflects the first results of our Focus plan. Initiated in 2017, this plan has four objectives: set the right prices for our services, increase operational efficiency, develop human resources and be more selective from a commercial standpoint. These results lend further credibility to our business model as an independent and family owned company,” said Jean-Christophe Machet, FM Logistic CEO.
In India, FM Logistic started 19 new customer projects and inaugurated two new multi-client logistics platforms in Bhiwandi (near Mumbai) and Bilaspur (near Gurugram) to cater to the growing demand. FM Logistic has also acquired 31 acres of land in Jhajjar, near Gurugram in India. With the help of its real estate sister company NG Concept, construction activities will start in the coming months.
The Jhajjar MCF (the 2nd MCF in the NCR region) will offer 700,000 square feet of warehousing space and will store approx. 100,000 pallet positions once fully constructed. With these new projects we aim to create 500 jobs in next 12 months.
FM Logistic in India has not only invested in transportation and warehousing activities, providing better warehousing and distribution services to its customers, but also invested in the digitalisation of its various functions, notably in WMS (warehouse management system) and TMS (transport management system).
In FY 2018-2019, the company continued its march with opening or expansion of several logistics platforms in Russia, Poland, the Czech Republic, Romania, Spain and Italy. Construction is underway on new logistics platforms in India and Vietnam. Countries outside the French market now account for 61 percent of FM Logistic’s revenues.
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