Company News, Logistics News, Supply Chain News

Scan Global Logistics reveals stable financial results for 2023

SGL’s focus on putting customers first ensured its 2023 financial results were on par with its 2022 efforts

Danish transport and logistics company Scan Global Logistics (SGL) has released its financial results for 2023, remaining consistent compared to recent years. 

The global freight forwarder generated a revenue of two billion Euros, a gross profit of 469 million Euros and an earnings before interest, tax, depreciation and amortisation (EBITDA) figure of 193 million Euros. 

Scan Global Logistics CEO Allan Melgaard says the results show the company’s agility and entrepreneurship across all of its sectors. 

“Related to the transaction with our new majority shareholder CVC Capital Partner, there have been significant extraordinary transaction costs, resulting in the final result for the year ending in a minus of 33 million Euros. It’s exactly as planned,” Melgaard says. 

“The important thing is that we deliver exactly the EBIDTA that is in line with the expectations we have announced. Our solid performance demonstrates the effectiveness of our resilient business model, offering both standard and complex logistics solutions. 

“Hard work, strong customer focus and close partnership-based supplier management made it possible to maintain a gross profit on par with 2022.” 

Melgaard says SGL continues to benefit from its flexibility, entrepreneurship, customer focus, agility and its sustainable size while its staff also ensures it has positive results across the board. 

“In 2023, we continued to deliver high-class, tailored solutions across multiple markets and industries, driven by increased customer focus and service,” Melgaard says. 

“It fills me with pride to lead Scan Global Logistics, supported by our passionate and dedicated people and proving that culture beats strategy, especially in a challenging macro-economic environment.” 

Melgaard says CVC becoming SGL’s new majority shareholder, and the appointment of Nils Smedegaard Andersen as its board chairman, supports its growth strategy and will continue to create value for its stakeholders. 

Last year also saw SGL expand its presence after acquiring companies in Switzerland, Portugal and Germany along with establishing its operations in Kenya and Romania. 

“We will continue to establish and develop an even stronger global network and strengthen our activities within air and ocean freight,” Melgaard says. 

Melgaard says while volatility remains as the only constant in the logistics sector, SGL is well-positioned to take advantage of opportunities that present themselves. 

“We are dedicated to supporting our customers’ growth and look forward to another year of opportunities,” Melgaard says. 

“We will continue our journey and create even greater value for our customers, employees and stakeholders in 2024 and the years to come.” 

Previous ArticleNext Article
Send this to a friend