Comment / ...Expeditors has a cost problem? DSV and Kuehne are worse off...

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22/02/2024

Many moons ago I worked on a relatively complex white paper for a research house in the UK.

I was asked to screen global logistics services providers and determine who the winner was for the year, based on a slew of financial metrics, including, but not limited to: operating margins; growth rates; capex needs; return on assets/equity; and other productivity-related figures.

What I found in 2015, I think, was straightforward: Seattle-based Expeditors (EXPD), with its organic growth penchant, and M&A-hungry DSV from ...

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boris franchomme
February 26, 2024 at 3:25 pm
That EBIT per employee indicator is somewhat misleading for KN; as the company still has a sizeable CL (contract logistics) division, which by nature requires a larger headcount (blue collar) to generate GP / EBIT than let’ s say traditional forwarding business. Expeditors has practically NO contract logistics business per se so all of its headcount is directly related to air/sea/customs operations

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- Alessandro Pasetti
  February 26, 2024 at 3:27 pm
  Different product mix (CHB for EXPD instead of CL) is very clearly stated in the piece, thanks Boris.
  
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