News / Gefco 2020 revenue hit hard by pandemic, but cost-cutting eased the pain

Global car sales and production decimated by the pandemic resulted in automotive logistics specialist Gefco today reporting that its €3.8bn ($4.6bn) 2020 revenue represented a decline of 17.3% on 2019.

Chairman Luc Nadal said: “Our revenues declined at the height of major disruptions in global business, but during the second half of 2020, we were able to increase our activities in line with customers’ production ramp-up schedules.

“We are pleased with our ability to maintain a robust operating margin in this difficult ...