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GXO LOGISTICS, INC.

(GXO)
  Report
Delayed Nyse  -  01:00 2022-11-25 pm EST
43.88 USD   -0.02%
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GXO Expands Operations in Germany, Europe's Largest Logistics Market

06/29/2022 | 04:00am EST

New business development team to target significant growth in share of German logistics market

Key areas of focus to include fashion and ecommerce sectors

GREENWICH, Conn. and DUSSELDORF, Germany, June 29, 2022 (GLOBE NEWSWIRE) --  GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, today announced its strategic intent to significantly grow its share of the warehouse-related logistics market in Germany over the next five years. The German contract logistics market is estimated at $20 billion in annual turnover and is expected to grow at a rate of nearly 3.5% through 2023, presenting an exceptional growth opportunity for GXO.

“We see enormous potential to grow in Germany and have assembled an experienced team to deliver,” said Richard Cawston, President - Europe, GXO. “As the macro environment and supply chain disruptions create new complexities, we are seeing increased demand for solutions and automation that drive efficiency and productivity, while contributing quickly to our customers’ bottom-line. Our industry-leading technology and custom automated solutions, as well as outstanding service, flexibility and scalability, especially in omnichannel logistics, make us a logistics partner of choice.”

To lead its growth efforts in Germany, GXO announced it has tapped Heiko Oberländer, a twenty-year industry veteran. Oberländer was previously with DSV, where he was responsible for Global Business Development, focusing on the automotive and electronic verticals. He has also held leadership roles at Panalpina and Rhenus Logistics.

GXO is a widely recognized logistics leader in ecommerce and fashion globally. The company plans to leverage its experience and expertise in these sectors, as well as its growing success in grocery logistics, to attract new business in Germany.

About GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is benefiting from the rapid growth of ecommerce, automation and outsourcing. GXO is committed to providing a diverse, world-class workplace for approximately 120,000 team members across more than 900 facilities totaling approximately 200 million square feet. The company partners with the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut, USA. Visit GXO.com for more information and connect with GXO on LinkedIn, Twitter, Facebook, Instagram and YouTube.

Forward-looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including statements regarding our future growth prospects in Germany. These forward-looking statements are qualified by cautionary statements regarding unknown risks, uncertainties, and assumptions as can be found in GXO’s filings with the U.S. Securities and Exchange Commission and accessed through the company’s website www.gxo.com.

Media contacts

Anne Lafourcade 
+33 (0)6 75 22 52 90 
anne.lafourcade@gxo.com 

Matthew Schmidt 
+1 203-307-2809 
matt.schmidt@gxo.com 


Primary Logo

Source: GXO Logistics

2022 GlobeNewswire, Inc., source Press Releases

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Analyst Recommendations on GXO LOGISTICS, INC.
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Financials (USD)
Sales 2022 8 984 M - -
Net income 2022 239 M - -
Net Debt 2022 1 867 M - -
P/E ratio 2022 21,8x
Yield 2022 -
Capitalization 5 206 M 5 206 M -
EV / Sales 2022 0,79x
EV / Sales 2023 0,72x
Nbr of Employees 75 000
Free-Float 99,4%
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Mean consensus BUY
Number of Analysts 15
Last Close Price 43,88 $
Average target price 57,43 $
Spread / Average Target 30,9%
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Managers and Directors
Malcolm Wilson Chief Executive Officer & Director
Vaughn Mandy CEO & Founder
Baris Oran Chief Financial Officer
Bradley S. Jacobs Chairman
Sandeep Sakharkar Chief Information Officer
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