POSTAL NEWS
No 35-2021
Formulated by UNI Apro Post and Logistics Sector
1. UK Post Office: An extensive post-conviction disclosure exercise is taking place. May 07, 2021.
2. DPD Austria to invest in new depots and pickup locations. May 07, 2021.
3. E-commerce dominates SingPost's top line, contributes 65%. May 06, 2021.
4. Help us stop the postal pandemic. May 04, 2021.
5. First quarter brought record results for Omniva. May 03, 2021.
1. UK Post Office: An extensive post-conviction disclosure exercise is taking place
May 07, 2021 UK Post Office said today that it is contacting people it previously prosecuted – mainly former postmasters – to assist them in potentially appealing their historical convictions. This follows an extensive review of relevant historical prosecutions brought by Post Office since 1999, which has been conducted by criminal law specialists, Peters & Peters Solicitors LLP.
To date, a total of 45 historical convictions related to previous versions of the Post Office’s computer system Horizon have been overturned by the Courts in unopposed appeals following their referral by the Criminal Cases Review Commission (CCRC). A number of other cases are awaiting Court listings and hearings.
Post Office no longer undertakes any private prosecutions. Cases related to Horizon effectively ceased in 2013, although two cases prosecuted in 2015 relied on Horizon data (the two people concerned are also being contacted).
A Post Office spokesperson said: “The Post Office sincerely apologises for serious historical failures. We continue to take determined action for people affected.
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“In addition to full co-operation with the CCRC’s review, Post Office has made strenuous efforts to identify individuals who were historically convicted and an extensive post-conviction disclosure exercise is taking place to identify and disclose all material which might affect the safety of those convictions.”
The post-conviction disclosure exercise focuses on Post Office’s conduct of prosecutions since 1999 which relied on evidence from the Horizon computer system and examines Post Office’s failures to fairly investigate and disclose problems with Horizon to people who operated or worked in Post Office branches who were prosecuted for offences such as theft, fraud and false accounting. The post-conviction disclosure exercise commenced in January 2020 and has involved more than 60 barristers reviewing millions of documents to identify any material that should be disclosed to those historically prosecuted.
To date, the review has examined around 4.5 million documents, and thousands of physical and electronic sources have been interrogated. In addition, Peters & Peters liaised with a number of third parties including Fujitsu Services Limited, Royal Mail Group, the Courts, the CCRC and approximately 50 law firms and agents historically instructed by Post Office to obtain material relevant to the convictions.
Post Office is contacting former Postmasters and people who worked in a Post Office branch whose convictions may be affected. Disclosure relevant to their cases will be provided, together with information about how they might take forward an appeal if they wish to do so.
Any person who was prosecuted by Post Office or Royal Mail Group after July 1999 and who believes the prosecution case relied on Horizon evidence, can contact disclosure@postoffice.co.uk .
Source : https://postandparcel.info/137727/news/e-commerce
2. DPD Austria to invest in new depots and pickup locations
May 07, 2021
DPD Austria says it is responding to the rapid growth in the parcel market with an investment offensive that begins with the expansion of its depot network.
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Rainer Schwarz, MD at DPD Austria, explained: “The Corona crisis has turned our industry upside down and brought parcel logistics into the focus of the economy.
We are meeting the new and additional challenges with an investment offensive that the depot expansion begins, leads to the expansion of tours and culminates in innovations.
In this way we are strengthening our position as a reliable and stable Austrian parcel service provider for our customers.”
The company will invest around €11m (US$13.3m) in the depots, in addition to the circa €40m (US$48.3m) it has put into buildings, cargo space, technology, security and its vehicle fleet in recent years. “This is for the expansion of the depots and the expansion of the conveyor technology in eight branches. This increases the sorting performance by around 30,000 parcels per hour. We are sure that with all these measures we will be able to cope well with the further growth in parcel volumes and thus be able to supply our customers’ sales markets again this year,” explained Schwarz.
The company will also expand its pickup network to a total of 2,000 locations, with the addition of a further 200 this year. Schwarz noted, “With this extensive network, we ensure that our customers can post, pick up or return a parcel within a maximum of 15 minutes.”
Source : https://www.parcelandpostaltechnologyinternational.com/news/operations
3. E-commerce dominates SingPost's top line, contributes 65%
May 06, 2021
MAINBOARD-LISTED postal service provider Singapore Post (SingPost) reported an e-commerce-dominated top line, with 65 per cent derived from the business.
The increase in e-commerce revenue has outstripped the decline in contribution from letters and printed papers, it said, adding that e-commerce accounted for 34 per cent of its domestic post and parcel revenue for the financial year to March, up from 21 per cent in the previous year.
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Vincent Phang, chief executive for postal services and Singapore, told The Business Times during a media briefing on Thursday that SingPost has an advantage over its e-commerce service competitors with its international and domestic postal network and structure.
Although the pandemic has given a boost to its e-commerce top line, higher costs were incurred for health and safety arrangements.
SingPost has high fixed costs being a national postal service provider, and its e-commerce business requires different assets given the different profiles of e-commerce consumers.
However, now that e-commerce is contributing a lot more to its top line, SingPost will move a bit more quickly so that the better showing would trickle down to the bottom line.
Despite e-commerce rivals upping their game with some adding aeroplanes to their fleet, Mr Phang said SingPost embraces the competition because the pie is expected to be bigger.
Revenue rose 4.3 per cent to S$696.9 million for the half-year from S$668.1 million a year ago, led by strong e-commerce volume growth in both the logistics as well as domestic post and parcel segments, financial results released pre-trading showed.
Although there was better showing from e-commerce, the national postal service provider's net profit for the half-year more than halved to S$16.7 million; that for the full-year nearly halved to S$47.6 million.
In the post and parcel segment, there was a decline of 10.1 per cent in half-year revenue to S$350.2 million as international post and parcel volumes continued to be impacted by the constraints on air capacity in and out of Changi Airport. Consequently, segmental margins dropped on significantly higher conveyance costs.
However, the increase in e-commerce revenue has more than offset the decline in letters and printed papers revenue.
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Revenue in the logistics segment rose 26.6 per cent for the half year to S$325.2 million, as both e-commerce logistics and freight forwarding benefited from the accelerated adoption of e-commerce activities during the pandemic.
The property segment reported a slight 1.6 per cent dip in half-year revenue to S$59.9 million, largely due to lower receipts from the car park and atrium sales for the SingPost Centre mall.
Net asset value stood at 72.17 Singapore cents as at March, marginally higher than the 71.10 cents a year ago.
Its board has proposed a final dividend of 0.6 Singapore cent, lower than the 1.7 cent issued for the same period last year. This would bring the annual dividend for the financial year to 1.1 cent, compared to FY2020's 2.7 cents.
The counter closed 1.32 per cent lower at S$0.745 on Thursday.
Source : https://www.businesstimes.com.sg/companies-markets
4. Help us stop the postal pandemic
May 04, 2021
The Senate’s Inquiry into Australia Post continued yesterday, with what is most likely to be the last public hearing before the Committee is due to report on 17 May. Senators questioned representatives of Boston Consulting Group (BCG), Australia Post’s Directors and Chairman and former Chairman John Stanhope.
But it was explosive revelations from Christine Holgate’s appearance at the first public hearing that confirmed what we have said all along; that the “temporary” regulatory changes made by the Morrison Government last year was the first step in a secret plan to cut thousands of jobs, close hundreds of post offices, slash services and privatise parts of Australia Post.
In documents tabled by Ms Holgate, reform options presented to Australia Post and the Government by BCG, prior to the pandemic even hitting our shores, eerily reflect some of the regulatory changes implemented under the cover of COVID-19 that give effect to the Alternate Day Delivery Model (ADM).
For more than a year, the Union has been calling for the BCG report to be made public – suspecting what has now been fully revealed. The Government has claimed Cabinet confidentiality and public interest immunity over the report – meaning, without Ms Holgate’s tabling of her evidence, it could be up to 30 years before any aspect of the report would be publicly available, if ever at all.
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We know Australia Post wants these lockdown measures extended and have intentions to seek such from the Government. In fact, they asked us to support their proposal to extend the regulations – we have, of course, declined this ridiculous proposition.
Australia Post must be stopped from locking in their lockdown measures. They are creating their own postal pandemic – it can be stopped and it must be stopped.
A necessary step to stopping the postal pandemic is to stop Australia Post and the Government from extending the regulations – we need to stop them from locking in their lockdown measures. The regulations must come to an end, as they are scheduled to, on June 30.
We have created a dedicated space on our website to manage all content relevant to the current Senate Inquiry, including the full recordings of past public hearings. This page can be accessed by clicking here.
Last year, your support for our campaign proved crucial to creating a political storm that resulted in the securing of an MoU that stopped Australia Post from cutting thousands of jobs in the middle of an employment crisis when millions were being added to our national dole queues.
However, the ‘temporary’ reforms have gone on to destroy members’ work/family lifestyle balance in delivery, forced posties to work unsafely, caused the loss of thousands of dollars in wages and annual leave entitlements to our van drivers, threatens to cut further into the take-home pay of our mail officers and has delivered the most serious of degradations to the services you provide to your communities.
With your support again, we can stop them from locking in their lockdown measures and stop postal pandemic, once and for all.
Source : http://www.cepu.org/2021/05/help-us-stop-the-postal-pandemic
5. First quarter brought record results for Omniva
May 03, 2021
The group's operating income totalled 39.5 million euros for the three months of 2021, which is nearly 10 million more than during the same period last year. The group earned a profit of 7 million euros in the first quarter, a 33-fold increase compared with the same period in 2020. The result was primarily impacted by the significant increase of e-commerce incomes in both Baltic parcel services and international business.
If in the year prior the parcel volumes that increased during the restrictions applied towards the end of the first quarter, then this year the volume grew by another 60%. This
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year’s volume growth is also affected by the fact that international parcel movement has resumed, which almost stopped during the first wave of the virus last year.
According to Omniva member of the management board Charlie Viikberg, the record positive result is due to the company’s capability to keep pace with the boosting demand. “This is the major effort of all employees, well-planned work and prior investments into the logistics centre and expanding the parcel machine network,” Viikberg said.
To cope with the record e-commerce volumes, the company expanded the parcel machines in light of growing parcel volumes, opened additional parcel points and hired additional workforce to ensure parcel delivery.
According to Viikberg, in addition to the consistently record-breaking parcel services, it is equally important to provide traditional postal services and to find synergies and new opportunities for delivering parcels, letters and newspapers.
It is also essential to update the network used for providing postal services, to ensure it meets the clients’ expectations, preferences and changed manner of use.
“The current requirements for providing universal postal service and for the quality requirements were set before the parcel machines. At the same time, Estonia is the leader when it comes to parcel machine numbers and the clients prefer using contact-free services. We are constantly receiving requests from local governments and communities for installing parcel machines, proposals on how the postal network should consider the client’s preferences and modern technological options,” Viikberg said.
To modernise the postal service and test the automated service model suitable for smaller places, Eesti Post started the post machine pilot project in 12 Estonian settlements. The pilot project will also test the open network potential for expanding the businesses of local entrepreneurs, and using the machines as points from where the local mail carriers can retrieve the mail to deliver, to ensure faster delivery and shorter carrier rounds.
An important milestone in the first quarter was the launch of the first parcel machine network operating with Omniva parcel machine software in Croatia. Cooperation with Croatia post is the first major step in exporting our technology.
In the first quarter, the company issued six postal stamps, including the heart-shaped Valentine’s Day stamp, cornflower stamp and Letipea lighthouse stamp.
At the beginning of the year, Omniva also organised the “A New Home for Teddy” campaign, during which families were able to donate toys which were collected and delivered to new owners via charity organisations.
We also launched a pilot project together with the start-up VokBikes, to test environmentally friendly electric bicycles adapted for goods delivery.
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The main area of activity of AS Eesti Post is the provision of postal and logistics services and the handling of e-invoices. In addition to the parent company, the group includes subsidiaries and related companies. The principal activity of SIA Omniva and UAB Omniva LT is the provision of parcel machine and courier services in the Latvian and Lithuanian markets. The area of activity of AS Maksekeskus is the provision of payment solutions for e-commerce companies in the Baltic states. Finbite OÜ offers e-invoice and fintech solutions across the Baltic states. Post 11 offers online merchants international logistics solutions for delivering goods worldwide.
AS Eesti Post is a company owned by the state. The group employs 2300 people across the Baltic states, and turnover for 2020 was 135.6 million euros.
Source : https://www.omniva.ee/about_us/news/all_news/news
POSTAL NEWS
No 36-2021
Formulated by UNI Apro Post and Logistics Sector
1. Fixed-term contracts of more than 3 months, apprentices and professionalization contracts also benefit from the social offer! May 07, 2021.
2. USPS Turns to AI at the Edge to Boost Package Processing. May 06, 2021.
3. La Poste opens largest parcel center yet. May 05, 2021.
4. Australia Post launches in-store trial with REDcycle. May 05, 2021.
5. XPO Logistics reports quarterly earnings and revenue that beat expectations, raises guidance. May 03, 2021.
1. Fixed-term contracts of more than 3 months, apprentices and professionalization contracts also benefit from the social offer!
May 07, 2021
Since 2013 and thanks to the action of Force Ouvrière, postal workers on short contracts (fixed-term contracts of more than 3 months, apprentices and professionalization contracts) can access social action services.
On a daily basis, these postal workers benefit from access to collective catering and meal vouchers, subject to their eligibility.
For housing, they have the ability to have advice on housing, are eligible for temporary accommodation and mobility aids, and can be helped to accé der to rent a home (help paying the deposit: VISALE or Advance Loca-Pass guarantee).
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To facilitate to them too, the reconciliation of private / professional life, this personal benefits for dependent children of Aid to parenthood ed (which allows for pre-financed CESU employer based family quotient or partial coverage of childcare bills) and Aid to the P é riscolarit ed, benefit to cover part of their expenses related to périscolarité for their children. These children of postal workers can be helped with their homework by Prof Express , free online help, particularly popular during periods of confinement.
During the holidays , various allowances make it possible to cover part of the costs caused by different stays (summer camps, discovery class, stays in lodges, etc.). It is also possible to open a holiday voucher savings of a month of a maximum of € 400 with a contribution from La Poste, twice a year and obtain a ticket office at subsidized prices (Coup de Coeur Ticket office and Coup de Coeur Cinema ).
For FO, it is crucial that the offers and services are accessible to everyone, at all points of the territory. Still too many colleagues on short contracts do not know their rights! So pass on the info!
Source : http://www.focom-laposte.fr/
2. USPS Turns to AI at the Edge to Boost Package Processing
May 06, 2021
Results are already surfacing from the new Edge Computing Infrastructure Program.
An edge artificial intelligence platform recently implemented by the U.S. Postal Service is helping federal insiders trace the many millions of packages it processes each week in a matter of hours instead of multiple days.
Open-source software from Nvidia is also delivering AI models to make more use of data collected in systems at 195 Postal Service sites across the nation, the company confirmed Thursday.
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“The federal government has been for the last several years talking about the importance of artificial intelligence as a strategic imperative to our nation, and as an important funding priority. It's been talked about in the White House, on Capitol Hill, in the Pentagon. It's been funded by billions of dollars and it's full of proof of concepts and pilots,” Nvidia’s Vice President of Federal Anthony Robbins told Nextgov Tuesday. “And this is one of the few enterprisewide examples of an artificial intelligence deployment that I think can serve to inspire the whole of the federal government.”
The Postal Service hasn’t generally been associated with speedy deliveries, and the pandemic spurred major delays for “snail mail” over the last year. Still, officials said it’s now tapping AI-driven techniques to complete its mission quicker and more effectively.
In separate exchanges this week, Robbins and a Postal Service spokesperson briefed Nextgov on this tech-centered deployment and what might follow.
Roughly 129 billion pieces of mail and 7.3 billion packages were processed by the Postal Service last year and within its infrastructure are thousands of scanners, cameras and other elements. In 2019, a federal data scientist was struck with an idea to place edge AI servers in Postal Service processing centers’ systems in an effort to gain and share more data points and insights from the billions of images that were generated as items zipped through to their destinations.
In a three-week sprint, that official and Nvidia architects thought through models and capabilities and worked to figure out what they could do to improve processing with equipment and images of postage, damaged barcodes, package sizes and weights and other variables. A result of that engagement was the Edge Computing Infrastructure Program, or ECIP, a distributed edge AI system now running at USPS locations, via the NVIDIA EGX platform.
Todd Schimmel, the manager who oversees Postal Service systems including ECIP, said in a statement that while it used to take eight or 10 people several days to track down items, it now takes one or two just a couple hours.
Robbins confirmed Accenture Federal Services, Dell Technologies and Hewlett-Packard Enterprise also contributed to this broader effort. Necessary gear and servers were deployed, and models were trained to complete AI tasks involving computer vision and more.
Computers were added at the processing and distribution centers used by the Postal Service, its spokesperson also explained. And there were specialized computing cabinets—or nodes—that contain hardware and software specifically tuned for creating and training ML models, installed at two data centers.
“The software being used is common to commercial implantations of current AI/ML best practices,” the spokesperson said.
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The agency went from proof of concept to full-scale deployment in a year’s time, Robbins noted. He pointed to one analysis that revealed a computer task needing two weeks on a network of servers with 800 central processing units can now be completed in 20 minutes on the four Nvidia graphics processing units in the HPE server. Further, each edge server processes 20 terabytes of images a day from more than 1,000 mail sorting machines.
“The AI work that has to happen across the federal government is a giant team sport,” Robbins noted. “And the Postal Service’s deployment of AI across their enterprise exhibited just that.”
Referred to as a “digital mailperson,” Nvidia's open-source software, the Triton Inference Server, is what can help deliver AI models based on the 195 postal systems’ makeup and needs. Almost three dozen applications have already been thought up that could be deployed on top of ECIP to help further augment the Postal Service’s processing of the multitudes of pieces of mail that flow through it daily, going forward.
One of those that might be implemented as soon as this summer, Nvidia’s release noted, could rapidly decipher a damaged barcode.
“When we started this project, they almost couldn't even imagine that what we have now done was even possible. So now, it's kind of opened their eyes,” Robbins said. “And there's people all across the Postal Service and their contractors looking at the business of processing 40% of the world's mail—and how artificial intelligence and computer vision might assist.”
The USPS spokesperson didn’t want to speculate on the potential use cases that have not been fully vetted by the organization but noted one other example may be calculating short paid postage on packages.
“The implementation of that model would be dependent on a thorough review and benefit evaluation,” the official said.
They added that lessons are being learned every day from ECIP. One big takeaway, the spokesperson said, was that “implementation takes highly specialized resources.” Having a good architecture foundation that supports MLOps—or the practice to deploy and maintain machine learning-centered systems—is also key.
Drawing on his own experiences working with the federal government for more than three decades, Robbins emphasized how impressed he was with how quickly this AI-centered project rolled out.
“We brought artificial intelligence and machine learning to a computer vision-, image processing-like application across the enterprise—and that same kind of work exists [in various other agencies],” Robbins said. “So there's a good model here.”
Source : https://www.nextgov.com/emerging-tech/2021/05
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3. La Poste opens largest parcel center yet
May 05, 2021
To support the rapid growth of e-commerce, La Poste is opening its fifth, and largest to date, ‘new generation’ parcel sorting facility in Ile-de-France Sud. Since 2015, the growth of e-commerce has accelerated sharply in France. In 2020, 17,400 new e-merchants arrived on the market and e- commerce now represents 13.4% of retail trade compared with 9.8% in 2019.
Capable of sorting 37,000 parcels per hour, the center is a result of La Poste’s investment plan which was launched in 2016. Managed by Poste-Immo, the center took two years to construct and was commissioned at the end of April. According to La Poste, it is the largest sorting center in France, both in terms of area and parcel capacity.
Occupying an area of 23,000m2 , the facility is equipped with the latest generation double sorter system and is the first of the post’s new facilities to be equipped with ‘by-pass’ technology, which allows certain packages to take a shortcut on the sorter system depending on their departure point.
Working conditions have been tailored to limit effort and prevent accidents, particularly during parcel handling. The unloading of parcels is, for example, facilitated by an
‘Express Snoot’: a handling aid tool, adapted for the French Post Office, consisting of an articulated arm positioned at the end of the loader allowing the parcels to slide rather than be lifted.
It moves laterally and vertically to always be as close as possible to operators and thus limit movements and movements when unloading packages.
Source : https://www.parcelandpostaltechnologyinternational.com/news/operations
4. Australia Post launches in-store trial with REDcycle
May 05, 2021
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Australia Post customers can now recycle their soft plastics at one of 12 Post Offices in New South Wales, as the organisation trials an in-store recycling solution with REDcycle.
The trial allows customers to drop their soft plastics including Australia Post plastic satchels, bread bags, chip packets, bubble wrap and more into a dedicated bin at the Post Office. From there the plastic is processed by REDcycle and delivered to a manufacturing partner to be made into a range of recycled products.
Australia Post Executive General Manager Community & Consumer Nicole Sheffield said the trial was another way Australia Post was using the breadth of its national network to give more communities access to services.
“While many Australians have fully embraced soft plastic recycling with REDcycle, not everyone has access to the service, which is why we have targeted selected Post Offices to help increase access to the service.
“There is growing interest and concern among the community surrounding plastics, including that used in our packaging, so we’re incredibly proud to be expanding our partnership with REDcycle and give our customers the opportunity to recycle their satchels and other soft plastics at the Post Office,” Ms Sheffield concluded.
The in-store trial will run for a period of eight weeks, with the option to extend and expand to more Post Offices around the country depending on customer uptake and feedback.
Liz Kasell, Founder of REDcycle, said REDcycle is dedicated to offering regional communities an opportunity to return their household soft plastics to a REDcycle drop off point.
“In the true spirit of partnership, we are grateful to Australia Post for providing the locations and recovery network required to make this vision a reality,” Ms Kasell said.
As a signatory to the Australian Packaging Covenant, the trial is part of Australia Post’s commitment to supporting the achievement of Australia’s 2025 National Packaging Targets, which includes reaching a 70 per cent recycling or composting rate of plastic packaging.
Post Offices participating in the trial:
1. Dubbo Post Office
2. Gunnedah Post Office
3. Blayney Post Office
4. Gulgong Post Office
5. Maclean Post Office
6. Berry Post Office
7. Kyogle Post Office
8. Bellingen Post Office
9. Iluka Post Office
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10. Canowindra Post Office
11. Shoalhaven Heads Post Office
12. Oberon Post Office
More information about Australia Post’s partnership with REDcycle and its environmental targets and commitments is available at: auspost.com.au/CR.
About REDcycle:
RED Group is a Melbourne-based consulting and recycling organisation who has developed and implemented the REDcycle Program, a recovery initiative for post-consumer soft plastic making it easy for consumers to keep plastic bags and soft plastic packaging out of landfill.
The REDcycle Program is true product stewardship model where manufacturers, retailers and consumers are sharing responsibility in creating a sustainable future. More information is available at: redcycle.net.au.
Source : https://newsroom.auspost.com.au/article
5. XPO Logistics reports quarterly earnings and revenue that beat expectations, raises guidance
May 03, 2021
Key points
• XPO Logistics on Monday afternoon announced better-than-expected quarterly earnings and revenue on the strength of its trucking and logistics business.
• Shares of XPO hit an all-time intraday high ahead of its first-quarter earnings report, which was released after the closing bell on Wall Street.
• The company reported adjusted quarterly profit of $1.46 per share, more than double that of the year-ago period, on total revenue growth of more than 23% to $4.77 billion.
XPO Logistics on Monday afternoon announced better-than-expected quarterly earnings and revenue on the strength of its trucking and logistics business.
Shares of XPO hit an all-time intraday high ahead of its first-quarter earnings report, which was released after the closing bell on Wall Street. The stock was slightly lower in after-hours trading.
The company reported adjusted quarterly profit of $1.46 per share, more than double that of the year-ago period, on total revenue growth of more than 23% to $4.77 billion.
Here’s how XPO Logistics fared, compared with analyst estimates compiled by Refinitiv:
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• Earnings: $1.46 adjusted vs. $0.97 expected
• Revenue: $4.77 billion vs. $4.33 billion expected
Adjusted earnings before interest, taxes, depreciation and amortization, referred to as EBITDA, rose 33% in the first quarter to $443 million.
XPO raised full-year adjusted EBITDA guidance to a range of $1.825 billion to $1.875 billion from the prior guidance of between $1.725 billion and $1.8 billion.
The company’s Q1 North American truck brokerage revenue increased 83% year over year to $589 million.
“In logistics, our record first quarter revenue of $1.82 billion was propelled by the ‘big three’ logistics tailwinds: e-commerce, outsourcing and warehouse automation,” CEO Brad Jacobs said in a press release that announced the results.
XPO shares have doubled over the past year as the pandemic has led to a boom in e-commerce and demand for warehousing, logistics and reverse logistics. The stock is up about 19% year to date.
“We’ve won a tremendous amount of logistics business in the first four months of this year, including a $1.8 billion contract with a longstanding customer that extends and expands our relationship through 2032. This is the largest contract in our company’s history,” Jacobs said.
XPO will spin off its highly profitable logistics segment into a new company called GXO Logistics in a deal expected to close in the second half of 2021. Current logistics customers Nike, Coca-Cola, Intel and others are expected to remain with the spinoff firm. Malcolm Wilson, XPO’s current European CEO, will take the helm at GXO.
Apple also announced last week it will hire XPO to run a new $100 million logistics facility in Indiana.
Source : https://www.cnbc.com/2021/05/03