15 February 2010

Africa saw business increased significantly in comparison

Turnover at the Bolloré Group, owners of SDV Logistics, reached €6.0 billion in 2009, down 16.7%. However, this trend eased off in the fourth quarter with a 7.4% drop on a like-for-like basis and constant exchange rate. Like in the first half of 2009, where operating income had increased by 20.0% despite a 16.0% drop in turnover, the turnover drop over the year was essentially due to the drop in the price of petroleum products distributed and in freight rates in the transport business. It had no negative impact on operating income at the end of 2009, as the Group acts as an intermediary in those businesses.

On a like-for-like basis and constant exchange rate, the Transport and Logistics division saw turnover fall 10.5% to €4,052.0 million. The division was impacted by the widespread drop in international trade and freight rates, which affected all business lines and geographical areas, except Africa where business increased significantly in comparison with fiscal 2009, driven by the continent's buoyant economic activity, particularly in Central Africa; this growth also reflected the high capital investments made in stevedoring and the logistics of mining and oil-sector projects.

The Group’s Fuel Distribution division saw annual turnover fall by 29.7% in comparison with fiscal 2008, to €1,668.0 million, due to the sharp drop in the price of petroleum products, after the record highs reached in the summer 2008. However, this trend eased off in the fourth quarter 2009 when the price of petroleum products climbed back up.