Jan de Rijk revenues up but profits down
10 / 07 / 2023
Road feeder operator Jan de Rijk Logistics reported an increase in revenues last year but profits came under pressure.
The transport firm saw revenues increase by 11% year on year to €285m, while operating profits fell 24.5% to €6.4m and net profits slipped 25.8% to €4.5m.
The company said that the revenue increase is mainly due to growing volumes from existing customers, contracts with new customers and a sharp rise in fuel prices.
“Unfortunately, along with fuel prices, almost all other costs also rose sharply,” the company said.
Jan de Rijk chief executive Fred Westdijk explained: “The aftermath of supply issues in the wake of the corona crisis combined with the war in Ukraine have had a major impact on the logistics sector in general and on Jan de Rijk Logistics in particular.
“The market has been turbulent and unpredictable on the back of the external factors we faced in 2022, which has rendered effective cost management difficult.
“The situation in Ukraine saw fuel prices rise sharply at the beginning of the year; they remained high throughout the rest of 2022, with major fluctuations over that period.
“The continued implementation of the Mobility Package [a series of European road freight regulations that are expected to ramp up costs] that has prompted a sharp increase in our staff expenses. In addition, the charter market has been highly volatile and unpredictable, resulting in a sharp rise in charter costs.”
