Geodis Denmark A/S

Beskrivelse af virksomhedens væsentligste aktiviteter

Business review
GEODIS Denmark is fully owned by GEODIS Group, which is based in Paris and in turn owned by SNCF, an industrial and commercial enterprise owned by the French Republic.
GEODIS Group is a leading logistics provider in Europe and worldwide, offering comprehensive
solutions for the entire logistics chain. It delivers expertise in five complementary areas of
expertise: Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution &
Express, and Road Transport.
GEODIS Denmark’s activities are within Freight Forwarding and based primarily on air and
ocean freight, express services, transport management and warehousing. It is GEODIS’ vision to
be a growth partner for its clients, and with an emphasis on excellence, we are committed to
helping our clients overcome their logistical constraints.

Beskrivelse af usikkerhed ved indregning eller måling

Recognition and measurement uncertainties
The recognition and measurement of items in the annual report is not associated with any uncertainty.

Beskrivelse af usædvanlige forhold, der kan have påvirket indregningen eller målingen

Unusual matters
The company's financial position at 31 December 2023 and the results of its operations for the financial year ended 31 December 2023 are not affected by any unusual matters.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Financial review
The company's income statement for the year ended 31 December 2023 shows a profit of TDKK 8565, and the balance sheet at 31 December 2023 shows equity of TDKK 15565.
The profit for the year is considered acceptable but below the projections made mid-2023. Stable volumes but with a lower gross profit ratio. The gross profit contracted caused by market adjustments in a post covid context and to a geopolitical new reality. EBIT performing at a reasonable level for the full year.
During 2023, the company has secured the profitability with a balanced fixed cost base and competencies in place to support the expected growth in the years to come.
To further bolster the company to absorb any commercial fluctuations or financial requirements, Geodis FF Holding Denmark A/S supports the operation of Geodis Denmark A/S appropriately and efficiently for the coming year.
Special risks
Operating risks
The company’s operating risks are integral with the ability to constantly delivering a service which meets the clients’ expectations. This service is based on deliveries from external suppliers and is therefore at risk if the company does not maintain or enhance its market position.
The company is affected by the financial trends and developments in the world.
Foreign exchange risks
The company primarily invoices in DKK, secondly in EUR and USD. The company is exposed to currency risk mainly related to USD. This risk is mitigated by balancing incoming payments in USD to the same level if possible.
Credit risks
The company has no material risk related to individual customers or business partners, but the company constantly manages any risk by evaluating the current financial risk of each customer and adapting proper actions in regard to payment terms and other securities to balance such risk.
We have engaged Atradius to insure our accounts receivables. Upward 80% of the invoiced revenue is insured.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

Significant events occurring after the end of the financial year
No events have occurred after the balance sheet date which could significantly affect the company's financial position.

Beskrivelse af virksomhedens forventede udvikling

Outlook
A significant impact on the development is directly coming from the normalisation of capacity
both on Air & Ocean. We foresee this will still have a footprint during 2024. Our productivity is
challenged, driving up cost of production whilst gaining volume in the after-covid market has
proven to be a challenge.
Extraordinary re-adjustment of the high freight rates with effects into 2023 reflects directly onto revenue and subcontracting. Revenue performing high during 1st half-year 2023. A normalisation of the freight rate levels furthers a reduction of the revenue upwards 80%-points. We expect an improvement to the gross profit of about 2-3 %-points as consequences of the lower freight levels.
2024 financial performance expected to significantly decrease as serviced traffic seek towards being operated on short term contracts or adhoc quoting replacing some long term contracting. Overall buying behaviour is focusing on cost.