(Boursier.com) — The gross commercial margin of Guerbet stands at 34.7 ME in Q1.
The sea freight market was significantly disrupted in Q1 2024 by events in the Red Sea leading to a sharp increase in sea freight rates in January and February. At the end of the period, the market returned to a less turbulent functioning reflected in the drop in rates which nevertheless remain very significantly higher than those of 2023.
The air freight market benefited from both a postponement of part of maritime freight linked to disruption in the Red Sea and the boom in exports linked to e-commerce from China (70 to 80% of air freight capacity). airlines) masking the sluggish demand for general cargo.
In this environment, the group experienced strong growth in its activity (+10.7% in number of operations on a comparable basis) and in volumes transported, particularly by air (tonnage: +26.5%).
The gross commercial margin increased by +15.4% benefiting from the acquisition of the Timar group on 04/01/23 (Impact +14.9%) and the development of the group with its major accounts.
If the growth of maritime activity was sustained (Number of operations +9%), Q1 was marked by a drop in the unit margin (-15.3%) which nevertheless remains at a much higher level. in the pre-covid period. Ultimately, the change in gross maritime commercial margin stood at -7.7%.
The very dynamic aviation activity in Q1 2024 (Number of operations +15.9%) also saw a drop in unit margins (-7%), which, like maritime, remain much higher than the pre-covid period. (more than 30%), leading to an increase in the airline gross commercial margin of +10.3%.
On a like-for-like basis, the road brokerage activity experienced growth in Q1 2024 of 5.3% in the number of operations and stability in its gross commercial margin.
The contribution linked to the acquisition of the Timar group allowed the gross commercial margin of this activity to jump by +79.9%.
2024 OUTLOOK
Market 2024
International trade in volume: +3.3% (Source WTO October 2023)
Air freight in volume: +4.5% (Source IATA December 2023)
Sea freight in volume: +3/4%
CLASQUIN 2024
Activity (volumes): higher than the market
UPCOMING MEETINGS (publication after closing)
Wednesday June 5, 2024: Combined General Meeting
Thursday July 25, 2024: Q2 2024 activity
Tuesday September 17, 2024: 2024 half-year results
Tuesday October 29, 2024: Q3 2024 activity.