Independent logistics operator Europa Worldwide Group has revealed its results for year-ending 31st December 2019, showing another 16.5% growth with a record turnover of £205m.
These figures show that Europa has succeeded in achieving the target it set 12 months ago to exceed the £200m mark.
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 two years running.
In 2019 Europa’s turnover increased from £176m to £205m – a £29m increase – and net profit before tax increased to £6m from £5.2m in 2018.
The business, which has just opened a £60m future-proofed 715,000 sq ft state-of-the-art, 3pl logistics facility in Corby (Northants) has also reported an increase in its net assets, which now stand at £12.9m compared to £8.4m in the preceding financial year.
2019 saw a year of huge investment by Europa – including the acquisition of part of the assets of Menzies at the start of the year. This included Menzies’ warehouse based in Rushden, Northamptonshire and its PCI compliant contact centre based in Ashford, Kent, from its parent company, Menzies Distribution, to strengthen the Europa Warehouse division.
Other investment during the period included £250,000 in refitting its Birmingham site as part of a company-wide estate improvement. The business also invested hugely in Brexit preparations, including over £2m in its Dartford transit warehouse to increase racking capacity by 75%.
Europa has continue to invest in its systems including further developments in the bespoke IT system “Leonardo” which continues to expand and will eventually provide a fully harmonised system for every aspect of the business’s operations. Utilising the latest technologies, this sophisticated system provides in-house control to improve responsiveness, efficiency, productivity, and scalability. Europa has already launched 10 different Leonardo modules deployed across the operation from road freight to finance.
Managing Director at Europa Worldwide Group Andrew Baxter said he was pleased with the figures for last year, but his focus is on driving the business successfully through the impact of Covid-19.
Former Business Leader Magazine front cover interview Baxter commented: “The growth in 2019 was a result of the great team we have as well as our continued dedication to providing the best, most efficient services for our customers. This enabled us to win new business across the divisions and I am very proud of what we have achieved.”