Stable earnings figures for Neele-Vat

Rotterdam-based logistics service provider Neele-Vat saw net profit rise fractionally last year to 4.8 million euros, on sales of nearly 220 million euros. Operating profit (6.6 million euros) was also slightly above the 2016 result.

This is evident from the 2017 financial statements recently filed with the Chamber of Commerce. Managing director Cuno Vat of the family business is more than satisfied that the company has been able to maintain profitability despite robust cost increases in the market, due to the shortage of drivers, among other factors.

Looking back, 2017 was a good year for Neele-Vat, he explains. Sales rose by 10 million euros to 219 million euros. For this year, the director again expects sales growth of around 5%.

Road Transport

Most growth last year was in the core road transport business (+5 million euros). With 120 million in sales, this division remains by far the largest source of income for the company. Forwarding (air and ocean freight) also did well, growing by 3.5 million to at 73 million.

In this regard, it is mainly additional sea containers that caused the growth, Vat says. 'In the air freight area, we are unfortunately only a small player'. Warehousing, which is becoming increasingly important for the group, saw turnover grow slightly (+€700,000) to almost €20 million.

Deficit

Major concern for Vat remains the dire shortage of storage space in the Port of Rotterdam. 'Storage is becoming a scarce commodity in the port. It is good that the port authority continues to develop 100,000 square meters on the Maasvlakte, but it is not enough. For example, there is also a challenge in the Waalhaven, where many logistics buildings are still from the 1960s and 1970s. But who is going to invest there or buy out parties?'

source: News Sheet Transport