Increased forwarding volumes, oil prices helped Bolloré see growth in 2018

French logistics conglomerate Bolloré continued to grow through the end 2018, due mostly to a 9 percent increase in its Transportation and Logistics (T&L) division.

Sea- and airfreight volumes both rose in 2018, especially in Bolloré’s African operations, and also in its oil-and-gas logistics activities, which grew in revenues by 25 percent, “thanks to higher prices for petroleum products and a slight increase in volumes,” the company reported.

Bolloré’s T&L unit increased earnings before interest and taxes (EBIT) by 4 percent to reach €511 million, which were aided by rising freight forwarding volumes, particularly in Asia. However, despite the rise in oil prices, petroleum logistics EBIT fell by about 5 percent to €34 million due to negative inventory fluctuations.

The parent Bolloré Group saw revenues rise 26 percent, compared to 2017, which included €13.9 billion from the 2017 consolidation with communications firm, Vivendi. Unadjusted net income for the group rose by 33 percent to €2.7 billion for the year, while operating income increased by 25 percent to €1.3 billion.

Net debt for the group totaled €4.8 billion, which was unchanged from 2017, Bolloré said. “As of Feb. 28, 2019, the group’s liquidity position, including undrawn available amount and liquid securities, represented approximately €2.1 billion,” the company reported. “Including Vivendi, the amount stands at approximately €9 billion.”