Leading independent logistics operator, Europa Worldwide Group, continues to set the pace in the market, reporting a tripling in profits – up to £10m from £3.6m in 2020 – and a record £276m turnover for the 2021 financial year (ending 31 December).
An impressive turnover
For the last 12 months to August 2022, the company has achieved an impressive turnover of £316m.
These latest results are testament to the progressive leadership team, which refuses to stand still and continues to take a proactive approach in driving the business forward whilst meeting ongoing challenges head-on.
Despite a tough economic climate impacted by Brexit, and the global pandemic Europa’s resilience comes down to the way in which it planned, prepared and invested significant resources into developing a viable solution.
Europa Flow, the frictionless customs product
The end result – Europa Flow, the firm’s frictionless customs product – offers customers a route for continued operational activity on the continent, tackling the new border regime by removing lengthy fee and paperwork barriers that would otherwise hold goods up in transit.
It remains the market leading solution for firms of all sizes today and is managed via Europa Road, which – in line with the 9.4 per cent growth of the European road freight market during 2021 – developed plans to expand its network of UK domestic depots to reach more customers.
As global supply chain vulnerabilities were exposed during the pandemic, Europa simplified its own operating model whilst supporting customers and teams to do the same. This enabled everyone to excel in delivering their objectives through the most efficient and effective use of time and resources.
The cutting-edge Europa Warehouse in Corby
Europa’s specialist 3pl warehouse in Corby is a shining example of this strategy’s success. The cutting-edge £60m facility, which boasts a unique £11m automation system, a dedicated 300-strong team and a robust client portfolio, is operating at near capacity.
The 750,000 sq. ft building at Midlands Logistics Park saw operational capacity built up over 2021, allowing flexibility in production levels in line with client need. The average volume of goods passing through the warehouse now sits at nearly 20,000, with throughput being scaled up or down as demands fluctuate.
Europa Air & Sea’s international growth
During 2021, Europa Air & Sea also contributed to the robust financial performance. As economies opened up, and global air and sea freight forwarding grew by 14.9 per cent and 6.6 per cent respectively, the division also grew successfully. New Air & Sea offices have since opened in Shanghai and Dubai (in early 2022) to capitalise on opportunities presented by the world’s largest container port and fastest growing e-commerce market in the Middle East and North Africa.
Rob Jones, Finance Director at Europa Worldwide Group, comments
Rob Jones, Finance Director at Europa Worldwide Group, said: “We’re delighted with our latest results, and would like to thank everyone at Europa for their immense contribution in delivering these. The Group has demonstrated flexibility in helping its teams and customers adapt to an evolving marketplace and sustain high levels of overall performance.
“2021 was a year of consolidation for Europa, as we built on our strengths and developed bold new plans to drive forward growth across all three divisions. It is an incredibly exciting time for the business, which maintains huge momentum, allowing us to accelerate our strategy to drive out complexity and deliver an even better service for our customers.”
With current predictions of a slowdown in worldwide economic growth, Europa is determined to weather this latest storm. The financial outlook for 2022 remains strong, and the Board has ambitious plans for the firm to become bigger, bolder and better, whilst consolidating its standing as one of the most exciting and top-performing operators in the sector today.
Andrew Baxter, Chief Executive Officer (CEO), comments
Chief Executive Officer (CEO) Andrew Baxter said: “Our open and transparent approach has been key in adapting and optimising supply chains to unlock growth potential along the way. Our 2021 financial results – the best ever in the firm’s history – are testament to this, and the immense efforts we invested in Brexit, and preparedness to keep our customers’ freight moving despite the ongoing Covid challenges.
“Europa Flow has been the lynchpin of this success because it was well designed and executed, offering the best route for customers to navigate the new business landscape. So too has our superb Corby Warehouse, which is now operating in profit just two years after opening. This is an immense achievement which we’re incredibly proud of.
“Special thanks must go to our dedicated teams and the Board for its sharp focus on innovation to ensure efficiency, agility and future sustainability. We will continue to build on our strong foundations to gain market share whilst also facing economic uncertainty head on, with flexibility and a determination to succeed for our customers.”