Analysis: options for growth limited as Panalpina is forced to bow to cyclical headwinds

Panalpina chief executive Peter Ulber was unequivocal on targets for the Swiss freight forwarder this year: “To focus on opportunities that will drive growth organically, by way of acquisitions and through innovation, and to continue to improve productivity and optimise costs across all businesses and geographies.”

So, what’s next for Panalpina as sea and air freight volumes are unlikely to surprise on the upside into 2017, and its shares look fully priced?

Options

Options appear thin on the ground, even for a company of ...