Leman A/S

Development in activities and financesThe revenue for the year amounted to DKK 1,886 million against DKK 1,605 million last year and thereby increased by 17,5%. The first half of 2022 was exceptionally strong with high demand for our services and very high ocean freight rates. The second half of 2022 was more challenging, with less demand for international transportation and a collapse in ocean freight rates. The gross profit reached DKK 315.8m vs DKK 260.8m last year, an increase of 21,1%. The margin improved to 16.7% from 16.3% last year, to a large extent caused by strong operational performance and good utilization of our assets. The profit before tax amounted to DKK 67.5 million against profit of DKK 36.4 million last year.

The markets for international cargo transportation in which LEMAN operate were very volatile in 2022. The markets were strong in the first half of 2022, with bottlenecks and shortage of capacity impacting many parts of the global supply chains. During the second half of 2022, consumer demand for tangible goods softened, which impacted demand for international transportation, leading to softer markets and a steep collapse in freight rates.

In this volatile environment, the LEMAN organization demonstrated also in 2022 the agility and creativity necessary to keep the cargo moving and continuously find the best possible transport solutions for our customers and international business partners.

In July 2022, LEMAN opened a new airfreight office in Gardermoen, Norway. As of 1 January 2023, LEMAN opened up in Reykjavik, Iceland whereby LEMAN is present with own organization in all 5 Nordic countries. Further expansion is planned for 2023.

The Sustainability Strategy was updated during 2022 with new targets and commitments to further investments in green initiatives.