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Norbert Dentressangle reports 2% increase in revenues for the first 9 months of 2013

• Revenues for the first nine months of 2013 amounted to €2,959 million, up 2.0% on a reported basis, and 1.3% on a like-for-like basis and at constant exchange rate.

• Transport revenues posted a modest 2.0% fall to €1,514 million thanks to a slight recovery in the third quarter.

• Logistics revenues rose by 7.3% to €1,409 million, boosted by a strong momentum in its traditional markets, the integration of the Fiege Italian and Spanish businesses, and the start-up of operations outside Europe.

• Freight Forwarding generated revenues of €94 million, the recently acquired Daher Group’s freight forwarding businesses in France and Russia will be included from 1st October.

• EBITA 2013 confirmed comparable with levels achieved over the past few years.

Commenting on business activity for the first 9 months of 2013, Hervé Montjotin, Chairman of the Executive Board, said: "In line with expectations, Norbert Dentressangle is reporting an encouraging increase in its business activities for the first 9 months of 2013, primarily driven by a return to growth in the 3rd quarter. In particular, our Group is taking advantage of its now significant exposure to economies which are growing at a faster rate than that of France. The Transport business returned to growth in the 3rd quarter. The Logistics business reported robust growth which is accelerating thanks to a sound commercial momentum in its European markets, the launch of the businesses with our customer Danone in Saudi Arabia and in Russia, and the consolidation of Fiege’s businesses in Italy and Spain. The Freight Forwarding business will benefit from the consolidation of Daher’s French and Russian freight forwarding businesses as from the 4th quarter. Based on this performance, we are confident in our ability to maintain our operating income (EBITA) at a level comparable to that achieved over the past few years."

Aggregate 9 month
Revenues
In € million 9 months 2013 9 months 2012 Change Change
at constant exchange rates and like for like
Transport 1,514 1,545 -2.0 % -1.3%
Logistics 1,409 1,313 +7.3% +5.2%
Freight Forwarding 94 102 -8.1% -16.1%
Inter-division (59) (59)* n.m. n.m.
Consolidated total 2,959 2,901 +2.0% +1.3%

3rd quarter
Revenues
In € million Q3 2013 Q3 2012 Change Change
at constant exchange rates and like for like
Transport 504 504 +0.1% +1.0%
Logistics 513 451 +13.6% +10.4%
Freight Forwarding 30 34 -11.7% -20.0%
Inter-division (20) (22)* n.m. n.m.
Consolidated total 1,027 967 +6.2% +5.0%
* Includes the revenues from the Dagenham site in the United Kingdom (sold in early October 2012)

Norbert Dentressangle’s consolidated revenues for the first 9 months of the 2013 financial year amounted to €2,959 million, an increase of 2.0% compared with 2012. on a like-for-like basis and at constant exchange rate, organic growth was up 1.3% compared with the first 9 months of 2012. There was a negative forex effect of 1.6% over the period.

The percentage of revenues generated outside France amounted to 59% of the total.

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