Updates

Vos Logistics publishes Annual Report 2018

02/04/2019
Vos Logistics reports higher turnover and profit for 2018
  • Turnover € 314 million, +8%
  • EBIT € 10 million, + 25%; net profit € 6.7 million
  • Increase off staff  by 300 to 2,560 FTEs
  • Investments in fleet renewal, IT and process improvement
  • Strategic focus on sustainable innovations, digitization and Lean

 

The turnover of European logistics service provider Vos Logistics increased by 8 percent in 2018 to € 314 million. Both International Transport and Solutions realized higher turnover. The EBIT rose by 25% to more than € 10 million (3.2% margin), and with regard to net profit, it almost doubled relative to 2017: from € 3.5 million to € 6.7 million. With the acquisitions of Joosten and Gehlen Schols, the company strengthened its market position in the Benelux. This can be read in the 'Integrated financial & sustainability report 2018' that the company has published today.

Investments

In 2018, Vos Logistics invested € 46 million. The investment included 400 new lorries and 480 new loading units. The fleet now consists almost entirely of Euro-6 vehicles. The entire fleet, including regular charters, will also be equipped with a new generation of on-board computers. These innovations, in combination with training for drivers and other employees, serve as the pillars for improving safety through a reduction in the number of technical failures and damage. In addition, they contribute to reducing fuel consumption and the well-being of drivers.

Sustainability

Vos Logistics offers solutions for the demand for more efficient and sustainable mobility and logistics. An example is driving with longer lorries: expanding from 18 to 25 metres and ultimately also combinations of 32 metres. Vos Logistics is also making significant progress in the use of alternative fuels (LNG and biofuels) and electric propulsion.

Future

Digitization helps employees to put more quality in their work by sharing better information with customers faster and working more efficiently. In 2018, Vos Logistics launched 'SmartFox': this enables planners to better schedule vehicles based on algorithms. It is expected that this will enable the fleet to achieve higher production and loading efficiency.

Satisfied

The Vos Logistics management is satisfied with the results in 2018.

CFO Ben Vos: "Thanks to the growth and positive results developments, we are strengthening our financial basis, and we can continue to invest in innovation and growth. In 2018, we proved able to absorb the cost increases in rates and with efficiency. This will also remain an important point of attention for 2019."

CEO Frank Verhoeven: "In the past year, we have invested heavily in recruitment, training and development of the team. As a result, despite the scarcity in the labour market, we have been able to attract and retain talented and enthusiastic colleagues, enabling us to serve our customers well. We think that our focus on innovation, sustainability and growth has a positive impact on this. We will continue to focus on this in 2019."

 

Read full report