Europa Worldwide Group is on track to achieve record turnover and profits in 2021, with 2022 forecast to be even more successful.
Europa’s growth predications follow a hugely productive year, despite the ongoing and unprecedented challenges arising from the global pandemic and Brexit.
Record Turnover for 2021
It is expecting to achieve a record turnover of £260 million this year, against £210m in 2020, increasing to £300 million next year.
Profits are expected to be £10m in 2021, an increase of £6.4m over 2020 levels which were depressed by the global pandemic and related lockdowns.
Comment from Rob Jones, Finance Director at Europa Worldwide Group
“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.”
Brexit has been a major consideration for Europa and it has remained dedicated to finding solutions for its customers. This was why the company successfully planned the unique customs product, Europa Flow, to address short-term road freight disruption arising after the transition period.
Europa Flow launched at the start of 2021, following a £5m investment into the product. It is now delivering a frictionless delivery duty paid (DDP) service with 2,000 consignments per week, easing the flow of goods between the UK and Europe and ensuring UK firms remain competitive overseas. It is one of the best import and export solutions within the market because it empowers customers and removes the hassle of customs clearance and duty payments.
Comment from Andrew Baxter, Chief Executive Officer (CEO) at Europa Worldwide Group
“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.”
Business as Usual
The company operated all services as normal throughout the pandemic, with staff working remotely where possible. It was business as usual for four of the firm’s six divisions – Europa Road, Europa Warehouse, Europa Air & Sea and Continental Cargo Carriers as the firm played its part in the national keyworker effort to keep the country moving.
Opening of 3pl site in Corby
In addition, Europa pressed ahead with the construction of its new £60m state-of-the-art third-party logistics (3pl) warehouse in Northamptonshire to double its logistics capacity. Not only was the build of this fully automated, super-sized facility completed during lockdown, it was also operationalised in June 2020 at the height of the e-commerce boom.
This saw record highs of UK internet sales as online purchasing power prevailed whilst physical retailers remained closed. Europa staff at the Corby site worked round the clock to fulfil customer orders as demand soared.
More about Europa Worldwide
Europa Worldwide Group is an ambitious independent logistics operator with six divisions – Europa Road, Europa Air & Sea, Europa Showfreight, Europa Warehouse, Europa Contact Centre and Continental Cargo Carriers. Europa was recently featured in The Sunday Times Top Track 250 for the third time and employs over 1100 across the UK and Hong Kong.