INTERNATIONAL freight forwarding and logistics company Geodis reported big increases in revenues and profits for 2022.

The company’s revenues for the years were €13.7 billion, up 19% compared with 2021, and up 68% compared to 2019.

Geodis reported an EBIT of €518 million, a 10% increase compared with 2021, and 90% higher than in 2019.

Geodis chief executive officer Marie-Christine Lombard said the company had achieved a record level of performance in 2022.

“These excellent results in a challenging economic and geopolitical environment stem from the expertise of our teams, the complementary nature of our various businesses and our ambitious development strategy. I am particularly proud of the work accomplished by the Group’s 49,400 employees, and I would like to thank them for their unfailing commitment,” Ms Lombard said.

“Although uncertainties remain in 2023, we remain confident in GEODIS’s growth prospects. Thanks to the diversity of our businesses and geographies and to our operational agility, we are looking forward to 2023 with determination. We will continue to pursue our growth dynamic in the service of our customers, the digitalisation of our businesses and the implementation of our environmental commitments, which remain one of our key priorities.”

The company said its freight forwarding business benefited from a favourable market environment. Freight rates remained high in both air and marine transport.

“Nonetheless, the fourth quarter of 2022 marked the end of the price boom caused by the pandemic,” the company said. “Even so, prices remain highly volatile.”

In its contract logistics division, the company saw an increase in revenues in the US. This, it said was a result of business development and growth in volumes of existing customers.