On March 1st, the company presented its outstanding results for the fourth quarter and full year of 2023. Despite the challenging market environment, the Tecson Group performed well, not only stabilizing its position, but also expanding its market share in the maritime logistics market. Net operating income for the full year reached 238CHF 500 million, a decrease of 39 million, although compared to the same period last year5%, which is enough to prove the sound operation and strong resilience of Tecson. In terms of gross profit, the company achieved 87CHF 900 million, down 209%, which is still an impressive number. Earnings before interest and taxes (EBIT) was 19CHF 0 billion, down 494%, and the profit for the period was 14CHF 600 million, down 479%, despite the decline, the conversion rate (EBIT GP) of Dexun remained at 21The high level of 7% fully demonstrates the efficient operation and excellent profitability of the Tecson Group. Even more excitingly, on March 1, the company announced that it had successfully acquired City Zone Express, a strategic acquisition that will immediately bring benefits to the company and enhance its cross-border road logistics services in Asia. City Zone Express, a Malaysia-based logistics company with more than 500 employees, 260 vehicles and 80,000 square meters of warehousing space, with operations in Malaysia, Singapore, Vietnam, Thailand and China, will support Dexun's expansion in the Asian market. Hansjorg Rodi, Member of the Board of Management and Head of Road Logistics, said: "Asia is an attractive region for us. With the acquisition of Cityzone Express, we complement our network and services, which will enable us to better provide our customers with tailor-made road logistics solutions in a complex cross-border market environment." ”
Founder of City Zone ExpressPirithivaraj a Lselvarajoo also welcomed the acquisition, saying: "We are delighted to be part of the company. Deutschun is a leader in the field of sea and air freight and a well-known road freight company. With our service network in road logistics in Southeast Asia, we can better meet the growing demand for road logistics from customers in Southeast Asia. "For the full year 2023, Tecson's contract logistics business also achieved good results, achieving a net turnover of 47CHF 700 million, down 33%。EBIT was 2CHF 0 billion, up 70%。5.The conversion rate of 9% shows that while maintaining above-market growth rates, the company has also seen an improved business mix that favors e-commerce and healthcare solutions, making a positive impact. Dr. Joerg Wolle, Chairman of the Board of Directors of Deutschun, commented: "Kuehne+Nagel has had an outstanding 2023. Not only have we maintained our leading position in the market, but we have also laid a solid foundation for future growth through a series of strategic initiatives. Looking forward to the future, Dexun Group will continue to uphold its innovative and stable business philosophy, continue to explore new market areas, and provide customers with more high-quality and efficient logistics services. In the tide of globalization, Dexun Group is writing its own glorious chapter with its excellent strength and forward-looking vision.