APRIL 2020
Brambles generated sales revenue from continuing operations of $3,5 billion for the first nine months of the financial year ending 30 June 2020 (FY20), reflecting a year-on-year increase of 3% at actual FX rates. At constant FX rates, sales revenue increased 6% and comprised equal contributions from volume and price growth in the period.
Sales revenue performance by segment was as follows:
- CHEP Americas sales revenue increased 9% at constant FX, including 9% growth in the third quarter. Growth was driven by pricing initiatives across the region and volume growth in the US Pallets business which included the rollover benefit from a large contract win in the prior year and solid like-for-like volume growth in the period;
- CHEP EMEA sales revenue increased 4% at constant FX, including 3% growth in the third quarter. Growth was driven by the rollover contribution from European Pallets and Automotive contracts won in the prior year and price growth across the region. Like-for-like volumes were broadly in line with the prior corresponding period reflecting subdued economic conditions across the region; and
- CHEP Asia-Pacific sales revenue in the first nine months of FY20 was in line with the corresponding period at constant FX rates as price and volume growth in the Australian Pallets business offset the rollover impact of a large Australian RPC contract loss in the prior year. Revenue decreased 3% in the third quarter of FY20 as the decline in RPC revenues more than offset price and volume growth in the pallets businesses.
“While acknowledging the increased levels of demand volatility and the possibility of further rapid changes in the operating and economic environment due to COVID-19, Brambles expects FY20 sales revenue growth of between 5-7% at constant FX rates with fourth-quarter revenue growth in CHEP Pallets expected to offset loss of revenue in CHEP Automotive and Kegstar,” the company reported.
David Cuenca to succeed Michael Pooley as President of CHEP Europe
In other company news, David Cuenca has been named as President of CHEP Europe. He succeeds Michael Pooley, who left the company to become the new CEO of IFCO Group. The move takes effect on July 1, 2020. Pooley had been with CHEP for 17 years.
“As President of CHEP Latin America since July 2018, David has done an outstanding job leading the team through a period of significant business, commercial and cultural change, strengthening key customer relationships and energizing our teams," stated Chipchase. "He is highly regarded by his colleagues as well as by our customers.”
Read more at this link.