PULLACH, Germany, September 4, 2018 /PRNewswire/ --
Global growth of 8%, profit increase and planned separation from Brambles group positions market leader for a dynamic future as an independent company
IFCO, the leading global provider of Reusable Packaging Solutions for fresh foods, announced its financial results for the 2018 financial year, highlighting strong growth of 8% and achieving revenues of more than USD 1 billion for the first time. In addition, Brambles also announced the separation of IFCO via a demerger or sale. Brambles has owned IFCO since 2011 and has made substantial investments, growing the business to the scale, market share and competitive position it holds today. IFCO is now well positioned for its future as an independent company with a singular focus.
IFCO FY18 financial results: highlights
IFCO achieved global sales growth of 8% at constant currency in its 2018 financial year, taking its revenues for the first time to US$ 1,101 million.
IFCO is experiencing ongoing volume momentum, with all regions contributing to the growth of the company. This is driven by organic growth with current customers; the development and implementation of specialized products for new verticals (meat, bread, fish, eggs); the takeover of proprietary retail pools; and the ongoing geographic expansion in China, Latin America and Eastern Europe. Europe remains IFCO's largest market with revenues of US$790 million and a growth rate at constant currency of 9% compared to the prior year. IFCO North America achieved revenues of US$289 million and a 2% constant currency growth rate, while the rest of the world (IFCO Latin America and IFCO Asia) achieved revenues of US$83 million and grew by 12% at constant currency.
You can find the complete announcement at: ftp://presse.hbi.de/pub/IFCO/FY18/IFCO_FY2018_EN.pdf
SOURCE IFCO Systems