Trading Statement

18 February 2019
Trading Statement
RNS Number : 2855Q
Xpediator PLC
18 February 2019

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).  Upon the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

18 February 2019

XPEDIATOR PLC

(“Xpediator” or the “Company” or the “Group”)

Trading Update FY 2018

Xpediator, (AIM: XPD), a leading provider of freight management services across the UK and Europe, is pleased to confirm the Group has achieved its growth objectives and recorded significant increases in sales and profits for the twelve months to 31 December 2018 (“FY 2018”) in line with market expectations.

Revenue Growth

  • 54% increase in total revenues (unaudited) to approximately £179 million (2017: £116 million) generated by over 14,000 customers with no one customer accounting for more than 2% of revenues.

Acquisition led-growth, in 2018 Xpediator acquired two companies:

  • Import Services Logistics and Anglia Forwarding, both acquired during 2018, have contributed an additional  18% in revenue, added over 400 new customers including greater Amazon activity and significantly expanded the Group’s UK gateway capabilities with facilities in Felixstowe, Heathrow and Southampton.
  • In January 2019, Simon Youd joined as Head of M&A and Integration from Woodland Group Limited, the international logistic, freight forwarding and supply chain specialist.
  • There is a good pipeline of acquisition opportunities which meet the acquisition criteria of enhancing the Group’s geographical capabilities (especially in the fast-growing CEE region) and extending the Company’s presence in air and sea transportation.

Organic growth has been positive reflecting the underlying strength of the business. In particular:

  • Freight forwarding revenues across the Baltics and Balkans have grown significantly against challenging prior year comparators.
  •  The Group’s Pall-Ex franchise in Romania also performed strongly against challenging prior year comparators, offering a pallet delivery service to any part of the country within 24 hours and handling in excess of 50,000 pallets on average per month in FY 2018 (FY 2017: 40,000 average pallets per month).
  • Continued Affinity revenue growth which is now providing DKV fuel card and associated services such as roadside assistance and ferry bookings to over 14,000 vehicles (FY 2017: 12,000).
  • E-fulfilment in the UK and the continent while still a relatively small part of the business overall is growing rapidly.

The Company’s Brexit team has been working closely with leading transport associations and port authorities to plan ahead. The Group already holds Authorised Economic Operator status which will be critical in being able to support both exporters and importers post Brexit under most forecasted scenarios. Ultimately, the Group’s customers will need to understand and find solutions to continue delivering their goods to their end-market and Xpediator is well placed to support them.

Xpediator intends to release its audited final results for FY 2018 in April 2019.

Stephen Blyth, CEO of Xpediator said, “The business is performing well, growing both organically and through acquisition. We are continuing to invest across the Group to ensure we have the platforms and resources capable of delivering future growth and ensuring we remain well placed to maximise the opportunities that are increasingly available.”

Enquiries

Xpediator plc

Tel: +44 (0)330 043 2395

Stephen Blyth, Chief Executive Officer

Email: info@xpediator.com

Stuart Howard, Chief Financial Officer

SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker)

Tel: +44 (0)20 3470 0470

Jeff Keating

Caroline Rowe

    

Cantor Fitzgerald Europe (Joint Broker)

Tel: +44 (0)20 7894 7000

David Foreman, Michael Boot (Corporate Finance)

Caspar Shand Kydd (Sales)

Novella Communications (Financial Public Relations)

Tel: +44 (0)20 3151 7008

Tim Robertson

Toby Andrews

 

About Xpediator:

Xpediator is a well-established international provider of freight management services. Established in 1988 by CEO Stephen Blyth today the Group’s International network of offices provides road, sea and air freight services, together with logistics and warehousing in the UK and Romania. The business offers integrated freight management within the supply chain logistics and fulfilment sector, through their three main areas: freight forwarding, logistics & warehousing and transport services. With headquarters in Braintree, Essex and country offices in nine CEE countries across 38 sites, the Group currently employs 938 people and was successfully listed on London’s AIM market in August 2017.

For more information, please visit: www.xpediator.com.

Alternatively, do follow us on Twitter at @Xpediator or find us on LinkedIn at Xpediator Plc.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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