As a result of increased customer demand and current rationalization efforts, Green Cargo is reporting positive results for the second quarter. However, the first half of the year’s outcome is negative due the winter’s poor rail snow clearance and closed shunting yards.
The Group's earnings after financial items in the second quarter were EUR 1.9 million (-9.5). Net sales for April – June increased to EUR 162.7 million (133.8). Despite the second quarter’s turnaround, outcome after net financial items for the first half of the year ended up at a loss of EUR -8.4 million (-26.6).
“We can see how increased demand and our action programs are improving our outcome with each passing month. Our rationalization efforts will continue to ensure long-term and sustainable profitability,” says Mikael Stöhr, Green Cargo’s CEO.
Over the quarter, Green Cargo introduced intermodal shuttles from Malmö to Germany for the first time – to Krefeld in the Ruhr area in April and to Hannover in May. The shuttles carry truck trailers six nights per week in both directions.
Green Cargo has continued to devote its attention to last winter’s problems, both in terms of its own action plans and by taking part in the governmental investigation into the problems encountered by rail over the winter.
“We share the investigation’s perception that the winter was tough but not exceptional. Rail must be able to cope with a cold and snowy winter. Both Green Cargo and the Swedish Transport Administration are working on concrete plans for coping with the upcoming winter in a much better way,” says Mikael Stöhr.
The second quarter in brief:
- Mikael Stöhr takes over as CEO for Green Cargo on April 19. Mariann Östansjö takes over as CFO for Green Cargo on May 3.
- Intermodal shuttles start for Malmö-Krefeld and Malmö-Hannover. The intermodal shuttles run six nights per week in both directions.
- New agreements signed with Yokohama, Agility, TOMP Beer & Spirits and Containership. Expanded agreement signed with ICA.
- Twenty-eight customers receive the Green Cargo Certificate from Minister for the Environment Andreas Carlgren at the “Sustainable Logistics” seminar on June 16, and LKW Walter receives Green Cargo’s 2010 Climate Comet of the Year award.
- A letter of intent signed in May with ScandFibre Logistics, SFL, which means that Green Cargo will be the main supplier of rail transports in Sweden for further transport to the continent for about 10 paper mills.
