Tag is: The increase in

Forward Air 2024 3rd Reports Strong Revenue Increase in Quarter

by the Logistics TransportIn the Category: Logistics

Forward Air Corporation (FWRD) reported a valuable revenue increase in the third quarter of 2024, largely due to the acquisition of Omni ⁇ . The company's revenue increased to $656 million compared to last year. %It increased by 92. Despite this growth, the Fast Shipping segment underperformed due to its volume-oriented pricing strategy.

To address this situation, Forward Air is bringing in a new Commercial Operations Manager to beautify its sales approach. The integration of Omni ⁇ is progressing as planned and valuable cost savings are expected. The financial stability of the company is evident with improved liquidity and manageable net debt levels. However, Forward Air revised its full-year EBITDA guidance downwards in light of the serene macroeconomic environment.

Points of Importance

  • Forward Air's Q3 revenue reached $656 million, year-on-year %It increased by 92.
  • The Fast Shipping segment underperformed due to a pricing strategy that prioritized volume over profitability.
  • A new Commercial Operations Manager will join in January 2025 to align the sales strategy.
  • Omni integration is progressing as planned, with annual savings of $75 million expected by early 2025.
  • The company opened a new warehouse in Miami to improve logistics in Latin America.
  • Liquidity rose to $460 million, and the net debt-to-consolidated EBITDA ratio was 5.4 times higher.
  • Due to the stagnant macro environment, the 2024 full-year EBITDA guidance was revised to $300-310 million.
  • With the departure of Jerome Lorrain ⁇ 's subsidiary and Craig Carlock ⁇ , board changes were announced.

Appearance of Company

  • Management is analyzing non-master assets for potential sale, there are currently no random announcements.
  • Despite market volume drops, strong demand for premium fast land transport services continues.
  • The 4th quarter EBITDA guidance reflects the usual seasonal patterns, with October expected to go strong.

The negative points

  • Due to the stagnant macroeconomic environment, full-year EBITDA guidance was revised downside.
  • The profitability of the Fast Shipping segment was influenced by its volume-oriented pricing strategy.

The positive points

  • Liquidity and financial stability were smoothed by a $15 million liquidity increase compared to the previous quarter.
  • Valuable annual cost savings are expected from Omni integration.
  • Loss of value costs decreased and working capital smoothed out.

The missing ones

  • Full-year EBITDA guidance corrected in form to reflect macroeconomic pressures is downsided.

Q&A Highlights

  • In the fast LTL business, revenue per shipment and the load is expected to increase.
  • The integration of the recent $2.5 billion merger is the current focus, with no quarterly guidance.
  • Monthly tonnage trends for October are now unconfirmed, with forecasts being cautious.

Forward Air's third-quarter profit invitation highlighted both its successes and challenges as the company progressed through the post-purchase rung and broader market conditions. The addition of a new Commercial Operations Manager and the strategic expansion in Miami demonstrate Forward Air's commitment to improving its service offerings and footprint. The company's proactive approach to financial management, as evidenced by its liquidity and debt levels, ensures that it survives in a relentless economic climate. Forward Air continues to optimize its operations and integrate Omni ⁇ 's assets, while focusing on costing logistics provider stakeholders and maintaining the position of president in the segment.

InvestingPro Predictions

Forward Air Corporation's latest financial performance and strategic attacks are reflected in InvestingPro ⁇ 's latest data. The company's revenue growth is particularly attractive to attention; In the last twelve months with the prestige of the 3rd quarter of 2024 %It shows an increase of 68.69 ⁇ , which is reported in the article %It's consistent with an annual revenue increase of 92. This strong growth is backed by an InvestingPro Tip, which shows that analysts expect sales growth in the current year.

However, the company's profitability offers a more complex picture. An InvestingPro Tip reveals that Forward Air ⁇ has not been profitable in the past twelve months, which is balanced by the reported negative F/K ratio of -10.3 ⁇ . This is in line with the low performance and downward revision of EBITDA guidance in the Fast Transport segment mentioned in the article.

Despite these challenges, Forward Air remained committed to shareholders. An InvestingPro Tip highlights that the company has maintained uninterrupted dividend payments for 19 years. Current dividend yield %It is 2.85 and offers investors a measure of compensation in this transfer of strategic transition and market uncertainty.

It should be noted that the share certificate of Forward Air ⁇ shows a strong performance in the short term; in the last three months %A price of 56.81 ⁇ provided a total return. This may reflect investors' optimism about the company's purchasing strategy and future growth potential, despite the current profitability challenges.

Number of parcels and cargo shipments exceeded 639 million in 6 months

by the Logistics TransportIn the the General Assembly, Category: Logistics, Shipping of goods

Uraloğlu, in his written statement, gave information about the Six-Month Market Information Report of the Turkish Post Department published by the Information Technologies and Communication Authority (BTK) covering the first half of 2024.

Stating that 9 thousand 363 postal agencies and branches served throughout the country in the first half of the year, Uraloğlu said that the number of communication shipments realized in the postal branch of our country was 132.8 million. The share of mid-city shipments in all communication shipments was 85.2 percent. In this period, the provinces where the most communication shipment deliveries took place were Istanbul, Ankara, Izmir, Bursa and Antalya, respectively.

Uraloğlu noted that the number of service providers authorized in the department was 52 and they were given 59 authorizations, 26 of which were national and 33 of which were local.

Uraloğlu pointed out that the number of other mail shipments, which are qualified as mail parcels or cargo, except for communication shipments, has always increased in recent years.

⁇ The number of shipments, which was 598 million in the one-to-one period of last year, increased by 6.9 percent in the first 6 months of 2024 and amounted to 639.2 million units. This increase is due to the rapid growth of e-commerce volume in recent years. This situation also affects the postal market of our country on the positive side. ⁇

Uraloğlu pointed out that the rate of mid-city shipments has a valuable place in the mail parcel and cargo as in the communication shipments, and 80.7 percent of the shipments are in the mid-city category.

NET SALES INCOME OF THE INDUSTRY RISKED TO 56.1 BILLION LIRAY

Uraloğlu drew attention to the fact that the shipment volumes in the mail branch have also increased due to the increase in e-commerce volume in recent years, and emphasized that the revenues obtained from the postal services of the service providers have seen a valuable increase.

Reminding that the sector closed 2019 ⁇ u with a net sales revenue of 7.7 billion liras, Uraloğlu gave the following information:

⁇ The net sales revenues of the sector increased in 2020 with the effect of Covid-19 in e-commerce volume and increased to 13.1 billion liras. The acceleration of the increase continued by increasing to 18.06 billion liras in 2021, 33.5 billion liras in 2022 and 66.7 billion liras in 2023. In the first half of this year, net sales revenues in the mail department nearly doubled compared to the one-to-one transfer of the previous year, increasing to a total of 56.1 billion liras, including approximately 7.2 billion liras in communication shipments and 48.9 billion liras in mail shipments. ⁇

4.8 BILLION RICH INVESTMENT IN POST SERVICE PROVIDERS

Stating that the postal branch has grown rapidly as a concrete result of the investments made in the field of transportation and communication, Uraloğlu made the following assessment:

With the increase in mail traffic, the budget allocated for investment by service providers to respond to this demand has also increased. While the total investment measure made by postal service providers in the first 6 months of 2023 was around 1 billion 515 million liras, this number exceeded 4.8 billion liras in the first 6 months of 2024.

Global food prices rise highest in 18 months in September

by the Logistics TransportIn the Category: Logistics

the United Nations Food and Agriculture Organization (FAOFAO) announced the September results of the Global Nutrient Price Index, which tracks the monthly change in the prices of food products between countries.

Accordingly, the FAO Food Price Index rose 3 percent on a monthly basis and 2.1 percent on a yearly basis in September to an average of 124.4 points. Thus, global food prices have seen the fastest increase in the last 18 months, led by sugar prices. In September, the Sugar Price Index recorded the largest monthly increase of 10.4%.

Weakening revenue expectations in Brazil and concerns that India's decision to lift restrictions on the use of sugarcane for ethanol production could affect the country's exports have been instrumental in this increase.

The increase in all works attracted attention

The Grain Price Index rose 3% on a monthly basis in September. This increase was due to the rise in wheat and corn export prices.

Vegetable Oil Price Index up 4.6% month-on-month, Prices of palm, soybean, sunflower and canola oil increased. The increase in international palm oil was due to the lower-than-expected production of the main producing countries in Southeast Asia.

The Milk Price Index increased by 3.8 percent on a monthly basis in September, while the Meat Price Index increased by 0.4 percent.

The increase in meat prices was due to the rise in chicken meat prices due to the strong demand for Brazil's works.

FAO revised its global grain production forecast for this year to 2,853 million tons, while forecasting that wheat production will increase by 0.5 percent this year compared to last year.

According to Allianz Trade Surveys, Turkey's Exports Promise

by the Logistics TransportIn the Category: Logistics

The Global Survey carried out by Allianz Trade ⁇ every year was renewed and published with up-to-date data as a result of the evaluation of the surveys by expert economists.

In the assessment in the report; In the global survey in 2023, it was stated that 70 percent of companies expect an increase in their turnover through exports, but 2023 ended with a recession in trade due to slowing demand more than expected.

Deja vu of optimism: Are companies underestimating the risks on the horizon again?

In the current survey, it is stated that the companies are drawing an extremely optimistic picture again with the expectation that the recession will end in 2024. In the latest update of the survey, 82% of companies, especially from consumer-related sectors such as retail, home appliances and computer & telecom, said they expect an increase in their turnover through exports in 2024. In fact, about 40 percent of companies expect this increase to be as serious as 5 percent in 2024.

Françoise Huang, Senior Economist at Allianz Trade APAC and Global Trade, said that after more than a year of stagnation, exporters expect a recovery in the second half of 2024, but they have more conservative forecasts. ⁇ Globally, 8 out of 10 companies expect export prices to increase in 2024 and this will support their export turnover. Our predictions are more conservative: After the contraction of 2.9 percent in global trade in 2023, we expect a nominal increase of 2.8 percent in 2024. This rate, which is significantly below the long-term average of 5 percent increase, is a reflection of the disruptions in global maritime transport such as the Red Sea crisis, as well as the increased protectionism risks. ⁇

The risk of not receiving payment is still the most important issue for exporters

While exporters are optimistic, they are also aware of the risks posed by developing their business internationally. Globally, companies are most concerned about; focus on geopolitical risks, input/labor shortages and financing. However, the risk of not getting paid remains at the top of the list.

Aylin Somersan Coqui, CEO of Allianz Trade, said: "We found that around 70 percent of companies globally are paid between 30 and 70 days, slightly more than other countries in the UK, France and the United States. Due to low growth, trade disruptions and geopolitical uncertainties, 42% of companies expect longer export payment terms in the next six to twelve months. Longer payment terms mean more pressure on cash flow, and it could get worse. In addition, 40 percent of respondents expect an increased risk of not receiving payments by 2024. These expectations also coincide with our forecast that global commercial insolvencies will increase by 10 percent this year.

In Turkey, although export data are not at pre-pandemic levels, they are relatively promising compared to the global level.

Allianz Trade Credit Intelligence Deputy General Manager and Executive Board Member Altuğ Karagöz said that despite all the difficult conditions in Turkey continued to grow in exports. ⁇ 2024 ⁇ te Turkey ⁇ te achieved a 3.9 percent increase in exports despite global risks, geopolitical developments and contraction of demand in the export market. When we look at Allianz Trade, this increase stands out as a positive development despite the political risks. The increase in the ratio of exports excluding gold and energy to meet imports shows the positive effect of Turkey's return to orthodox policies on the foreign trade balance.

Capacity Increase Required Due to Increased Density in Ports

by the Logistics TransportIn the Category: Logistics

Hamdi Erçelik, Chairman of the Board of Directors of the Turkish Port Operators Association TÜRKLİM, talked about the performance of the ports in 2024, the problems observed and the investments to be made in the ports. According to the World Newspaper, Erçelik;

I find the 2024 performance of our ports positive, and the numbers show this. The amount of cargo handled in ports in the first half of 2024 compared to the same period of the previous year %3,2 increased to 269 million 182 thousand tons, the amount of containers handled compared to the same period of the previous year %It increased by 11.2 to 6 million 781 thousand TEU ⁇ . The amount of cargo going from our ports to foreign ports in June compared to the same month of the previous year %With a decrease of 2.9, it was 11 million 266 thousand 49 tons.

The increase in the total cargo in our ports since February stopped in May, and continued in June. %There was a 3.5% decline. But still in the six-month total data %There was an increase of 3.2. When we look at the main reason for the slowdown in the increase, it is seen that it is due to the decrease in the amount of cargo coming to our ports from abroad in May and June. When we look at the types of loads, it is observed that the decrease in liquid loads continues. In the first half, Aliağa led the field with a trading volume of 44.2 million tons in total load, while the region has experienced an uninterrupted upward trend since the beginning of the year. In Kocaeli, which is in the second place, a total of 42.7 million tons was reached. On the basis of the port presidency in the container, Kocaeli, Tekirdağ and Aliağa port presidencies continue to increase uninterruptedly. Especially in the first half of Aliağa ⁇ da average %A significant uptrend of 35 was recorded.

How's the painting on the container front?

The slowdown in the increase in containers in Turkey, which started in May, continued in June and monthly development %3,2 increased to 1 million 137 thousand TEU. 6 months of the year compared to the same period of the year %We see a very high increase of 6 million 781 thousand TEU ⁇ ya with an increase of 11.2. Especially when we look at the global developments in containers; In addition to the Russia-Ukraine conflict, it was expected that the impact of geopolitical factors throughout 2024 would be even more negative with the impact of the Red Sea crisis. However, it is understood that the dynamics of the container market will change with the reorganization of trade routes as a result of Europe and the USA's efforts to reduce import dependence on China.

How do you evaluate the general situation of the world's ports along the line from Asya ⁇ to Avrupa ⁇ ?

The Red Sea Crisis, which broke out in November 2023, also directly and indirectly affected the Turkish maritime transport and port sector in different ways. While restrictions on access to the Suez Canal have led to delays in supply chains and increased costs, this crisis has also created significant opportunities for Turkish ports. Due to security concerns, ships' preference for the Cape of Good Hope over the Suez Canal led to a marked increase in transit freight volume at Turkish ports. Average transit container handling in Turkish ports in the first 5 months of 2024 compared to 2023 %It increased by 54.26. This further strengthened Turkey's strategic position and increased the importance of our ports in the global logistics chain.

How is your assessment of the increase in transit loads?

Energy transport has been affected by this crisis. However, despite the contraction of the trade volume of Turkish ports before the crisis, it has tended to recover thanks to the increase in transit loads with the crisis. The rise of insurance costs, along with security concerns, has led to ships being diverted to alternative routes, resulting in increased operational burdens as well as additional costs at Turkish ports. However, these costs were offset by increased demand and an increase in transit loads. In addition, the global shortage of containers has caused serious bottlenecks in ports. The difficulty of waiting for ships for a long time and finding empty containers caused disruptions in supply chains, negatively affecting production processes. Turkish shipping was also naturally affected by this global problem.

How are the major ports in Turkey affected by the current conjuncture?

Despite efforts to recover after the pandemic, vulnerabilities in the global supply chain remain. Delays occur in large ports, especially in handling, loading and unloading. Waiting times of ships in Turkish ports in 2024 compared to pre-pandemic %It showed increases of up to 20. Increased workload and container traffic at major ports create operational congestion at these ports from time to time, especially in transit containers. %An increase of 54.26% has revealed a picture of reaching capacity utilization limits in some ports. In major ports, rising demand and fluctuations in global trade have also affected handling processes.

What is your long-term perspective as a Turk?

During the crisis on a global scale, Turkish ports have become an important center of global trade, resulting in a significant increase in transit freight flows. In order to turn these opportunities into a sustainable advantage, it is critical for Turkey to strengthen its port infrastructure and invest in digitalization and automation projects and green transformation.

Ministry of Commerce: Highest export increases seen in exports to Australia, South America and Asia

by the Logistics TransportIn the Category: Logistics

Ministry of Commerce, exports the Increasing Tendency Indicating that it continues Groups of countries According to the export figures and the previous year He explained the comparisons.

In the January-August period of 2024, exports increased compared to the same period of the previous year as follows:

the European Union Export to their countries

2.5% increase

of 97.2 billion reached the dollar

History of Asia Export to their countries

10.8 percent increase

13.5 billion dollars reached the dollar

Near and Middle East Export to their countries

Increased by 3.6%

$27.7 billion reached the dollar

North America (USA) Export to their countries

Increased by 8.3%

$11.7 billion reached the dollar

South America (United States) to their countries

Increased by 18.1%

and 2.0 billion reached the dollar

Central America and the Caribbean

Increased by 10.1%

$1.9 billion reached the dollar

History of Africa to their countries

Increased by 3.6%

$13.8 billion reached the dollar

Australia and New Zealand

26.0% increase

0.8 billion dollars reached the dollar

Ministry of Commerce's statement on exports ⁇ Turkey (disambiguation) the Brand 's to increase awareness of exporters, to reach new markets with market diversification, to strengthen our position in existing markets. to your needs We will continue to implement applications ⁇ It was called.

Positive climate in exports in the 8th month

by the Logistics TransportIn the Category: Logistics

Istanbul Chamber of Industry (ICI) Turkish Manufacturing Export Climate Index was realized above the threshold value of 50.0 in August. The index, which was 50.8 in July, was 51.3 in August. In August, economic activity increased in the majority of the main export markets of Turkish manufacturers. While U.S. production continued to increase markedly, Germany remained in the contraction zone.

The U.S. remains one of the main sources of improvement in demand. Production in France and Italy, which constitute a total of 9 percent of the Turkish manufacturing industry export market, has started to grow again. While the weak outlook in Central and Eastern Europe continued as of the middle of the third quarter, generally supportive demand conditions continued for a significant part of the Middle East. In August, the strongest production increase in all countries and regions followed by the PMI survey was recorded in India.

Production in the USA increased strongly in August

In August, economic activity increased in the majority of the main export markets of Turkish manufacturers. In Germany, which is the largest market, there was a contraction for the third month in a row, contrary to the general trend. This contraction was significant and at the highest rate since March. The U.S. remains one of the main sources of improvement in demand. While production increased strongly in August, it also gained momentum compared to July. In the UK, the pace of economic activity growth has strengthened to its highest level in four months. Production in France and Italy, which constitute a total of 9 percent of the Turkish manufacturing industry export market, has started to grow again. Especially in France, production increased for the first time in the last 15 months and this increase was realized at the highest speed since March 2023. In Spain, another major economy in the Eurozone, economic activity maintained a strong upward trend.

Strongest production growth recorded in India

In Central and Eastern Europe, the weak outlook continued as of the middle of the third quarter. Manufacturing industrial production contracted in Romania, Poland, the Czech Republic and Austria. In the same period, Russia recorded a moderate increase in economic activity for the second month in a row. For a significant part of the Middle East, conditions for generally supportive claims continued. Non-oil economic activity in the United Arab Emirates and Saudi Arabia also increased rapidly in August. While Qatar continues to grow, Egypt has recovered for the first time in three years. In Lebanon, on the other hand, production continued to contract. In August, India recorded the strongest production increase in all countries and regions followed by the PMI survey. At the other end was Myanmar, which recorded the fastest decline in production in the last 20 months.

Commenting on the Istanbul Chamber of Industry Turkey Export Climate Index, Andrew Harker, Economy Director of S&A P Global Market Intelligence, said: ⁇ August was generally positive for the important export markets of Turkish manufacturers. As the most important exception to this trend, Germany's continuation in the contraction zone also played a role in the weakness in Central and Eastern Europe. Exporters will expect a strong growth trend in major export markets such as the U.S. and the U.K., as well as a positive resumption in France and Italy.

G-20 record in service exports

by the Logistics TransportIn the Category: Logistics

The Ministry of Trade reported that Turkey ranked first among the G20 countries in the increase in service exports in the second quarter of this year compared to the previous quarter.

The Organization for Economic Co-operation and Development (OECD) has published its second quarter international trade statistics report for 2024.

In the statement, it was stated that the services sector has an important place in the country's economy with the export size, the positive critical contribution of the surplus in the foreign trade balance to the current balance, high value-added production and the employment it creates, and the following information was shared:

⁇ Our country; With the service exports of 101.7 billion dollars in the 100th year of our Republic, it has increased to 22nd place by taking a 1.29 percent share of the world service exports. In the first 6 months of 2024, where we set a service export target of 110 billion dollars, it is seen that our service exports increased by 9.5 percent compared to the same period of last year and reached 47.2 billion dollars, and our service imports realized as 23.1 billion with an increase of 11.8 percent compared to the same period of last year. Thus, we get an average trade surplus of 50 percent in services trading. ⁇

TURKEY IS THE MOST REDUCED COUNTRY IN THE SECOND QUARTER

According to the OECD's report, the rate of increase in G20 countries' goods exports remained constant compared to the first quarter of 2024, and service exports continued to grow in the same period, unlike goods exports, ⁇ Turkey ranks first in the G20 countries in the rate of increase in service exports in the second quarter of 2024 compared to the previous quarter, while the rate of increase in service imports in the said countries is the country with the highest decrease. ⁇ information was shared.

In the second quarter of last year, service exports of the G20 countries increased by 1.9 percent compared to the previous period, while the country's service exports increased by 4.7 percent.

In the same period, service imports of G20 countries increased by 1.1 percent, while service imports of our country decreased by 3 percent (seasonally adjusted data). In this respect, our country, which ranked first among the G20 countries in the increase in service exports in the second quarter of 2024, was also the country whose service imports decreased the most in the said period.

Sources of press

Call for earnings: Freightos reported a strong second-quarter performance

by the Logistics TransportIn the Category: Logistics

Leading digital freight platform Freightos (NASDAQ: FRGT) reported strong performance in the second quarter of 2024 with significant growth in transactions and gross reservation value. Transactions this quarter and gross reservation value %A strong performance was achieved with an increase of 31 ⁇ .

During the earnings call, CEO Anat Earon-Heilborn announced the strategic acquisition of Shipsta ⁇ , a logistics platform that will enhance Freightos ⁇ 's offerings in the freight supply sector. The company also reported an increase in revenue and improved operational efficiency in Q2.

Significant inferences

  • Freightos announced the acquisition of Shipsta ⁇ , a logistics platform serving more than 50 ⁇ corporate customers.
  • Second quarter performance in operations ⁇ increase and gross reservation value %There was an increase of 31.
  • By expanding its platform, the company increased 14 carriers to a total of 51 ⁇ and increased the number of receiving users to %Increased by 16.
  • Freightos ⁇ un subsidiary 7LFreight has made progress in U.S. trucking reservations.
  • Revenues for the second quarter compared to the previous year increase to $5.7 million, while gross profit margin , if the gross margin of non-IFRS is %He broke the record with 72.
  • Adjusted EBITDA stood at minus $3.1 million, better than last year's minus $5.3 million.
  • Transactions in Q3 %It is expected to increase by 20-24 percent for the whole year. %It is projected to grow at a rate of 25-27.
  • Shipsta ⁇ 's revenue contribution was mostly about 800,000 in the 4th quarter $ It is expected to happen.
  • Freightos raised its expectation of revenue for the whole year, referring to the acquisition of Shipsta ⁇ and the economy of scale.

Appearance of Company

  • Freightos in operations for Q3 -24 for the whole year. %It is expected to increase by 25-27.
  • The acquisition of Shipsta ⁇ is expected to be a major driving force in accelerating Freightos ⁇ 's path to profitability.

Significant bear developments

  • Although the company's adjusted EBITDA has improved compared to the previous year, it remains negative with $3.1 million.

Highlights on Ascension

  • Freightos has experienced a significant increase in transactions and gross booking value, indicating strong demand for its services.
  • 800,000 for the purchase of Shipsta ⁇ , especially in the 4th quarter $ It is expected to bring income.

Ladies and Gentlemen

  • No specific shortcomings were discussed during the earnings call.

Highlights in Questions and Answers

  • The earnings call ended without any questions from participants, pointing out that there are currently no significant concerns from investors or analysts.

Freightos ⁇ un's acquisition of Shipsta ⁇ prepares to create a more comprehensive supply platform in the freight sector and addresses the challenges of supply chain disruptions and the need for sustainability and regulatory compliance. The company's efforts to digitize the maritime transport process complement its on-board air services, although in the early stages. With positive customer feedback and a unique market position, Shipsta ⁇ 's integration into Freightos ⁇ 's offerings is expected to foster significant growth and contribute to the company's expectation of increased revenue. The synergy between Freightos ⁇ 's digital capabilities and Shipsta ⁇ 's efficient logistics solutions marks an advanced momentum for the company in the evolving transport sector.

InvestingPro Insights

Freightos ⁇ 's recent performance highlights a company on the move, which paints a positive picture with strategic acquisitions and revenue growth. However, we refer to the opinions of InvestingPro ⁇ for a more comprehensive analysis. Cargotec (CRGO), a major player in the logistics and transportation sector, has a market capitalization of $78.7 million as of the first quarter of 2023, according to InvestingPro data. This figure provides a context for the scale of companies operating in this sector.

From an operational point of view, Cargotec has been operating in the last twelve months as of the first quarter of 2023. %It has an impressive gross profit margin of 59.3. This metric is particularly important as Freightos continues to focus on operational efficiency and profitability, which is crucial in the competitive transport sector.

InvestingPro Tips show that Cargotec ⁇ has more cash on its balance sheet than debt, and liquid assets exceed short-term liabilities. Such financial health indicators are critical for investors assessing the company's stability and long-term growth potential, especially in an industry where Freightos ⁇ is actively expanding and buying.

Despite these strengths, analysts don't expect Cargotec to be profitable this year, and the company is rapidly consuming cash. These views can serve as stimulating benchmarks for Freightos on the road to profitability.

InvestingPro offers additional tips on Cargotec for those who want to delve deeper into the financial metrics of the freight and logistics industry. There are a total of 12 InvestingPro Tips available that provide valuable insights for investors looking to make informed decisions in this industry. You can access this information and more at https://www.investing.com/pro/CRGO.

This article was created, translated and reviewed by an editor with the support of artificial intelligence. See our Terms and Conditions for more information.

TÜSMOD Production and Service Purchasing Inflation, compared to the previous month in July %It increased by 1.58.

by the Logistics TransportIn the Category: Logistics

Foreks ⁇ TÜSMOD Production and Service Purchase Inflation July 2024 results were announced.

Accordingly, TÜSMOD Production and Service Purchasing Inflation in July compared to the previous month %1.58 increase compared to December of the previous year .68 increase and compared to the same month of the previous year %It increased by 36.63.

Category-by-category, highest purchasing inflation in July %With 6.08, Freight prices are seen, while the lowest purchasing inflation is %It was seen in food prices with a decrease of 2.17.

TÜSMOD General Price Index was 658.77 in July 2024 compared to the previous month %1.58, compared to December of the previous year. .68 increase and compared to the same month of the previous year %It increased by 36.63.

TÜSMOD Metal Price Index was 267.03 in July 2024 compared to the previous month %1.50 decrease compared to December of the previous year. %4.46 increase compared to the same month of the previous year %It increased by 15.22. 

TÜSMOD Plastic Price Index was 87.59 in July 2024 compared to the previous month creased by 0.14, compared to December of the previous year %4.13 increase and compared to the same month of the previous year %It increased by 2.15. 

TÜSMOD Energy Price Index in July 2024 as 1014.92 compared to the previous month %2.52, compared to December of the previous year. %9.67 increase compared to the same month of the previous year %It increased by 24.15. 

TÜSMOD Food Price Index was 469.83 in July 2024 compared to the previous month %2.17, compared to December of the previous year. .53 increase and compared to the same month of the previous year %It increased by 37.88. 

TÜSMOD Service Price Index was 1453.86 in July 2024 compared to the previous month %2.90, compared to December of the previous year. .37 increase and compared to the same month of the previous year %It increased by 55.59.

TÜSMOD Freight Price Index was 217.80 in July 2024 compared to the previous month %6.08, compared to December of the previous year. .85 increase compared to the same month of the previous year .31 is up.

Highest increase in the Metal Price Index %4.17 is seen in Flat Round Steel, while the highest drop is seen in %He was seen in Kalay ⁇ with 13.87. Do this for me %Aluminum with a drop of 13.04 and %Zinc followed with a decline of 11.96.

Highest increase in the Plastic Price Index %At 0.74, the highest drop was seen in PA prices. %Seen in HIPS ⁇ with 1.59. Do this for me %PVC followed with a 0.34 decrease.

Highest increase in the Energy Price Index .28 as seen in the Domestic LNG ⁇ , this %Domestic LPG with 8.65 and %6.85 followed by Coke Coal. The highest fall %Global with 21.38 the Natural GasWhen you see this %With a 6.26 Brent Oil was watching.

Red Meat in Food Price Index %4.75 and White Meat %3.32 is down. Fruit and Vegetable group, respectively %0.19 and %It showed 0.50 rts. The highest increase in the food group %While it is seen in Vegetable with 0.50, the highest decrease is .55 was seen in Global Rice.

Highest increase in the Service Price Index .94 as seen in Container Shipping. %6:45 p.m. and %Insurance followed with 5.53. The commodity whose price fell the most in July in the service group %It was Air Cargo Shipping with 0.20.

Domestic Shipping in Freight Price Index %5.33 increase, while Air Cargo Shipping %0.20 drop and Container Shipping %It increased by 17.94.

TÜSMOD Commodity Price Index is created by using World stock market prices, TÜIK data, Market prices and measures the change in purchasing prices of companies. It has been published every 3rd week of the month since January 2013. 

TÜSMOD Commodity Price Index is based on 31 December 2012 prices as 100.