Company announcement from SGL Group ApS
29 August 2024 - Company announcement no. 18
Q2 2024 results: Performance in line with the market and delivered growth in volumes
Today, SGL Group ApS has published its Interim Financial Report for the first six months of 2024 (Q2 2024).
SGL performed in line with the market and delivered growth in volumes in Air & Ocean, materialising in higher revenue and gross profit compared to previous quarter. However, due to a challenging environment we are yet to materialise full scale in North America.
- Revenue amounted to EUR 532m in Q2 2024, an increase of 6% compared to EUR 500m in Q2 2023.
- Gross profit amounted to EUR 122m in Q2 2024, an increase of 1% compared to EUR 121m in Q2 2023.
- EBITDA before special items amounted to EUR 43m in Q2 2024, a decline of 16% compared to EUR 51m in Q2 2023.
To support its strategy, SGL continues to invest in greenfield activities and M&A, and during Q2, SGL acquired and onboarded Foppiani Logistics Ltd., headquartered in Italy. The acquisition of Blu Logistics Brasil Trasportes Internacionais LTDA, which was signed 11 July 2024, is expected to be closed during Q3 2024.
Outlook for 2024
- With onboarding the acquisitions of Foppiani Shipping & Logistics and Blu Logistics Brasil, we have revised our full year outlook to be in the range of EUR 190m - EUR 200m.
- On a pro forma basis, if the acquisitions of Foppiani Shipping & Logistics and Blu Logistics Brasil have been effective for the full year of 2024, EBITDA before special items are expected to be in the range of EUR 200m to EUR 210m for 2024.
For further information, please contact:
Simon Kusk, Head of Group Finance or Martin Gregersen, Head of Group Treasury
investor@scangl.com | (+45) 32 48 00 00
This information is information that SGL Group ApS is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication by the above-mentioned persons at 08:00 CET on 29 August 2024.
