Europa Worldwide forecasts record profits for this year and next

UK logistics operator Europa Worldwide Group is predicting record turnover and profits this year and forecasts even greater success in 2022, despite the challenges of Brexit and the Covid-19 pandemic.

The company said this week it is expecting to achieve a record turnover of £260m this year, against £210m in 2020, increasing to £300m next year.

Profits are also forecast to rise to £10m in 2021, an increase of £6.4m over 2020 levels which the company said were depressed by the pandemic and its lockdowns.

Rob Jones, Europa Worldwide Group finance director, said: “Whilst our results for 2020 were below our expectations set at the start of the year, we are extremely proud of the way our teams tackled the severe double scenarios of the Covid-19 pandemic and Brexit.

“Our staff were kept safe, we kept our customers freight moving and given the market conditions we can be proud of our financial results

“As a result of the work we put in during 2020, notably our preparations for Brexit and the return to more normal “post-Covid” conditions, we are delighted with the performance in 2021 and the record levels of both turnover and profit that will be achieved.

“This all demonstrates that Europa is a commercially resilient and forward-thinking logistics firm that can adapt quickly to unforeseen situations and changing market needs.”

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Europa Worldwide Group has six divisions – Europa Road, Europa Air & Sea, Europa Showfreight, Europa Warehouse, Europa Contact Centre and Continental Cargo Carriers and has featured in The Sunday Times Top Track 250 for three years running and in The Sunday Times Profit Track 100 Covid-19 edition. It employs more than 1,100 staff at 15 UK sites, as well as in Hong Kong, France and Belgium.

The company said that Brexit has been a “major consideration” for the business which has seen it develop a variety of solutions for its customers, including Europa Flow, its customs service launched at the start of the year to address short-term road freight disruption arising after the Brexit transition period.

Andrew Baxter, chief executive officer, said: “Despite various worldwide restrictions being imposed on the movement of goods, Europa continues to trade profitably in the face of economic uncertainty and is on track.

“Our approach has always been to focus on offering the best solutions to meet our customers’ needs, fortitude and dedication in adversity, maintaining the highest levels of service. I am incredibly proud of our staff and look forward to collaborating with them as we get our growth plans on track and strive to hit our ambitious £400m turnover target.

“The past 18 months has certainly been challenging for the company, particularly due to the pandemic, with all exhibitions and events cancelled and fewer planes in the air for much of 2020, but our teams have already bounced back strongly.”

The company operated all services as normal throughout the pandemic, with staff working remotely where possible.

Europa also completed the construction of its new £60m 3PL warehouse in Northamptonshire (pictured) during the first pandemic lockdown, opening the facility in June 2020, which the company said enabled it to benefit from the e-commerce boom triggered by the pandemic.