Annual report 2017Posted on 16.05.2018
Awareness about People’s Business combined with modern technology drives the ambitious FREJA towards new goals
The transport and logistics business FREJA Transport & Logistics Holding A/S presents a satisfactory result for 2017. Especially the subsidiary companies in Norway and Finland have delivered results much above market level. During 2017, FREJA has continued to invest heavily in as well the organization as in technology. However, a distinct awareness about the fact that transport is People’s Business means that we still have focus on creating strong relations with the customers. The ambitions are strong in the Danish transport enterprise. Adding the corporation Transcargo - which was purchased in 2018 - and the new possibilities coming with that, FREJA has good reasons to maintain the optimism in the future.
The FREJA Group continues the positive development in earnings for 2017
FREJA Transport & Logistics Holding A/S reports a growth in turnover from 2016 to 2017 of 5 %. The total turnover in 2017 comes to EUR 342 million.
EBIT amounts to EUR 5.58 million in 2017 compared to EUR 6.35 million in 2016. Profit before tax amounts to EUR 7.97 million in 2017 compared to EUR 6.16 million in 2016.
The Group equity has gone up from EUR 28.44 million in 2016 to EUR 33.89 million in 2017. Solvency ratio rises from 33.9 % to 37.2 % end of 2017. The development in the subsidiary companies in Norway and Finland is very positive, while Sweden does not live up to the expectations for 2017. We have reacted to the negative trend with a restructure of the Swedish management, and have employed a new country manager as well as HR manager. The segment Air & Sea has been strengthened by adding new resources, and the sales organization has been trimmed. We therefore have good reason to believe that Sweden will contribute in the future to the group’s development on the international transport market. Also in Denmark, we have invested in 2017 in new business areas and knowledge resources. In China the development has been stable and on September 1st we opened an office in Guangzhou.
In spite of massive investments in new technology, transport is still People’s Business
Throughout 10 years, FREJA has invested extensively in the IT-platform and 2017 is no exception. Partly, we invest to optimize our own business, partly to improve our competitiveness, but also to secure advantages for our customers in their value chain. We participate in a research project regarding exchange of data with customers and suppliers. We expect that the end product will give considerable financial advantages for all parties and thus help lift the Danish transport business.
”Our focus is still to develop the long-term relations with customers as well as suppliers. In spite of our focus on efficiency improvements, we are fully aware that humans are still the most important resource in the cooperation - transport is People’s Business. The keywords for us in a cooperation are openness, trust and credibility. We have always based our business on strong values. Every day, we work on making a difference for our customers and secure that together we will improve a little day by day”, says Jørgen Hansen owner and CEO in the FREJA Group.
Readiness and ongoing ambitions characterize the agenda in the always open-minded Danish enterprise
“A reasonable result for 2017, but we are ready and we have the ambitions to show that we can do even better. Sale and lease back of the property in Tumba (Sweden) has secured a record high result in 2017. In the coming years, the integration of the Padborg-based company Transcargo and our new position on the Polish market will have our main focus and will secure growth in turnover as well as earnings. We have the platform, and we are ready to reap the benefits of the massive investments during the past years in FREJA. Should there be further possibilities for consolidation, we will be ready to “take a look” at it”, Jørgen Hansen rounds off.