FRENCH forwarding giant Geodis declared a 52 per cent year-on-year first half profit EBITDA increase to EUR598 million (US$611.5 million) drawn on revenues of EUR6.74 billion, up 34 per cent.

"In a turbulent global context, Geodis has confirmed its capacity to generate profitable growth," said CEO Marie-Christine Lombard, whose firm comes ninth in global rankings.

"These good results demonstrate the relevance of our growth model and allow us to press ahead with our strategy of targeted acquisitions as we seek to build a global, integrated network of transport and logistics hubs.

The first six months of 2022 reflect the success of Geodis' transformation and the relevance of its integrated growth model.

This sustained increase was achieved in a context of extreme tension in maritime and air transport, reflected in high freight rates and shrinking market volumes. Despite this, Geodis continued to grow market share.

"Contract Logistics continued its rapid development, particularly in the United States, because of the growth in ecommerce," the company said.

The acquisitions in 2021 of Peakaes in Poland and of Gandon Transports and Transports Perrier in France have been followed by that of Keppel Logistics, which will strengthen Geodis' presence in the contract logistics sector in Asia-Pacific, especially in Singapore.