Europa reports tripling in profits
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The parent company of Oostende-based Europa Road, the Europa Worldwide Group, has reported a tripling in profits. The company says its profits have increased to €11.3m (£10m) from €4m (£3.6m) in 2020 – and a record €316m (£276m) turnover for the 2021 financial year (ending 31 December). Also, for the last 12 months to August 2022, turnover was a record €357m.
The company has been in Belgium since 2018, when it acquired Belgium firm Continental Cargo Carriers, which became Europa Road last month.
Europa Road is a Groupage, Part Load and Full Load operator that promises to optimise the flow of goods between Belgium and the UK via customs expertise and its DDP product.
The post-Brexit DDP product was launched following 5.8m euros investment at the start of 2021. Its aim is to minimise friction in the process of delivering of goods to the UK.
Europa says its financial results are largely down to the fact it simplified its own operating model whilst supporting customers and teams to do the same. This, it is said, enabled everyone to “excel in delivering their objectives through the most efficient and effective use of time and resources.”
In its press release, Europa stressed that despite the current economic slowdown, its Board has ambitious plans to become “bigger, bolder and better”. The company is also looking to expand its local team in Oostende with the introduction of market managers in strategically important hub locations.
Commenting on the results, Andrew Baxter, Europa Worldwide Group chief Executive Officer, said:
“Our open and transparent approach has been key in adapting and optimising supply chains to unlock growth potential along the way. Our 2021 financial results – the best ever in the firm’s history – are testament to this, and the immense efforts we invested in Brexit, and preparedness to keep our customers’ freight moving despite the ongoing Covid challenges. We will continue to build on our strong foundations to gain market share whilst also facing economic uncertainty head on, with flexibility and a determination to succeed for our customers.”