q3 results 2017 - panalpina · by sap tm system roll-out. modest volume growth in ocean freight...

RESULTS FROM JANUARY TO SEPTEMBER 2017 | BASEL | 19 OCTOBER 2017

NINE MONTHS RESULTS 2017INVESTOR PRESENTATION

2Q3 RESULTS 2017 | 19 OCTOBER 2017 |

Achievements and key figures

Operating and financial review

Outlook and priorities 2017

Appendix


ACHIEVEMENTS AND KEY FIGURES


479

299

246

185

2016 HYQ3

2017 HYQ3

PROFIT (adjusted for 2016)

608

420

329

301

2016 HYQ3

2017 HYQ3

EBIT (adjusted for 2016)

7363

6731

3554

3517

2016 HYQ3

2017 HYQ3

GROSS PROFIT

THIRD CONSECUTIVE QUARTER WITH GP AND EBIT GROWTH

ACHIEVEMENTSFINANCIAL HIGHLIGHTS CHALLENGES

Conversion ratio improved to 19 in Air Freight in Q3

Slightly higher costs driven by SAP TM system roll-out

Modest volume growth in Ocean Freight with low but

stable margins

Significant improvement in cash position compared to

end of June 2017

Strong volume growth and gross profit margin

recovery in Air Freight

Ocean Freight profitability

-61

-230

-333

1rsquo0248

1rsquo0917

721

936

484

726

YTD currency impact -03 (CHF -35 million)



Chart1


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

SNVeryHiddenParameterSheet

Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE

Chart2


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE

Chart3

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE


OPERATING AND FINANCIAL REVIEW


AIR FREIGHT STRONG AND PROFITABLE GROWTH

YTD 8 volume growth Improved unit profitability Conversion rate at previous-year

level

Note Gross profit and EBIT in CHF million

YoY Growth Q3 Q4 Q1 Q2 Q3Volume (market estimated) 2 8 6 10 10

Volume (Panalpina) 10 14 8 7 8

GPton -7 -14 -10 -10 -1

Gross Profit 2 -2 -3 -4 8

2017

2016 2017Gross Profit EBIT YTD YTDGross Profit 4534 4560 1

EBIT (adjusted PY) 726 694 -4

EBITGP () 160 152

Volumes (tons 000) 6690 7220 8

228252

233 240 249

653

562620 625 648

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TONNAGE GPTON

Tons (000) GPTon (in CHF)

269

208171

220

303

181

147118

147

188

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

EBIT AND EBITGP MARGIN

EBIT (adjusted PY) EBITGP margin () (adjusted PY)


Table

Charts

TONNAGE GPTON

Tons (000)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172282522332399248935GPTon (in CHF)

6535626206251430000000000364832899999999995


EBIT (adjusted PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172692081710000000000000121963330331299999999999EBITGP margin () (adjusted PY)

181000000000000011471181464999999999999918790000000000003


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003

Chart1

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003

Chart2


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003


OCEAN FREIGHT QUARTERLY LOSS DUE TO MARGIN STAGNATION

YTD 4 volume growth Higher volumes however at lower

margin and with increased costs resulted in loss for Q3



Volume (Panalpina) -9 1 7 3 2

GPTEU -2 -18 -17 -7 -5

Gross Profit -10 -16 -11 -5 -3

2017

2016 2017Gross Profit EBIT YTD YTDGross Profit 3450 3234 -6

EBIT (adjusted PY) 160 -55 -135

EBITGP () 46 -17

Volumes (TEUs 000) 10995 11426 4

379 389 374 383 386

296

254

282 285 282

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TEU GPTEU

TEU (in 000) GPTEU (in CHF)

51

-51 -32

06

-29

45

-51 -30

06

-27

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017




Sheet1

charts

TEU GPTEU

TEU (in 000)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017379389374382838560500000000002GPTEU (in CHF)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201750999999999999996-50999999999999996-3205806-29489999999999998EBITGP margin () (adjusted PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart1

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart2


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


LOGISTICS IMPROVED PROFITABILITY

Top-line has stabilized Focus on growth

EBIT-over-NFR-margin of 20


2016 2017

Gross Profit EBIT YTD YTD

Gross Profit 2933 2454 -16

EBIT (adjusted PY) 50 81 63

NFR in of EBIT 10 20

YoY Growth Q3 Q4 Q1 Q2 Q3

Gross Profit -6 -11 -16 -19 -14

2017

94 9283 81 81

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

GROSS PROFIT

0905

24

3127

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

EBIT (ADJUSTED PY)


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart1

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart2

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


OUTLOOK AND PRIORITIES 2017



OUTLOOK Market

minus Air continuous strong volumes expected but growth rate slowing down (tough Q4 2016 comparison)

minus Ocean Soft market conditions Q4

Panalpina

minus Air margin impact of peak season difficult to anticipate

minus Ocean spot market rates have decreased lately and a slight margin improvement could be expected

PRIORITIES

Focus on topline growth and further improvement of unit profitability

Improve EBIT in Ocean Freight

Accelerate growth through selected bolt-on acquisitions

Maintain cost discipline and push ahead operations transformation program


YEAR-END RESULTS

MARCH 7 2018

NEXT EVENTS


DISCLAIMER

Investing in the shares of Panalpina World Transport (Holding) Ltd involves risks Prospective investors are strongly requested to consult their investment advisors and tax advisors prior to investing in shares of Panalpina World Transport (Holding) Ltd

This document contains forward-looking statements which involve risks and uncertainties These statements may be identified by such words as ldquomayrdquo ldquoplansrdquo ldquoexpectsrdquo ldquobelievesrdquo and similar expressions or by their context These statements are made on the basis of current knowledge and assumptions Various factors could cause actual future results performance or events to differ materially from those described in these statements No obligation is assumed to update any forward-looking statements Potential risks and uncertainties include such factors as general economic conditions foreign exchange fluctuations competitive product and pricing pressures and regulatory developments

The information contained in this document has not been independently verified and no representation or warranty express or implied is made to and no reliance should be placed on the fairness accuracy completeness or correctness of the information or opinions contained herein The information in this presentation is subject to change without notice it may be incomplete or condensed and it may not contain all material information concerning the Panalpina Group None of Panalpina World Transport (Holding) Ltd or their respective affiliates shall have any liability whatsoever for any loss whatsoever arising from any use of this document or its content or otherwise arising in connection with this document

This document does not constitute or form part of an offer to sell or a solicitation of an offer to purchase any shares and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever This information does neither constitute an offer to buy shares of Panalpina World Transport (Holding) Ltd nor a prospectus within the meaning of the applicable Swiss law


APPENDIX


INCOME STATEMENT PER QUARTER ndash GROUP

Note Group figures in CHF million

Group Q1 2016 Q2 2016 Q3 2016 Q3YTD Q4 2016 FY 2016 Q1 2017 Q2 2017 Q3 2017 Q3YTD 2017Net forwarding revenue 13072 12894 12670 38635 13325 51960 12772 13549 14334 40655 Forwarding expenses (9423) (9180) (9116) (27718) (9996) (37714) (9445) (10145) (10818) (30407)Gross profit 3649 3714 3554 10917 3329 14246 3327 3404 3516 10248 Personnel expenses (2250) (2213) (2129) (6592) (2113) (8705) (2164) (2162) (2186) (6511)Other operating expenses (1037) (1011) (971) (3018) (927) (3945) (893) (880) (925) (2698)EBITDA adjusted 362 491 454 1307 289 1596 271 362 406 1039 Depreciation of property plant and equip (62) (62) (62) (187) (71) (258) (53) (54) (50) (156)Amortization of intangible assets (60) (60) (63) (183) (56) (239) (54) (52) (55) (162)EBIT adjusted 240 368 329 936 163 1099 164 256 301 721 in of gross profit 66 99 92 86 49 77 49 75 86 70Non-recurring itemsRestructuring expenses 00 (261) 00 (261) (19) (280) 00 00 00 00

EBIT reported 240 107 329 675 144 820 164 256 301 721 in of gross profit 66 29 92 62 43 58 49 75 86 70Financial result (09) 07 (04) (06) 02 (04) 02 01 (04) (02)Earnings before taxes (EBT) 231 114 325 670 146 816 165 257 297 719 Income tax expenses (58) (69) (79) (205) (88) (293) (42) (81) (112) (235) of EBT 250 602 242 306 601 359 252 316 378 327Profit 173 45 246 465 58 523 124 176 185 484 Earnings per share 075 021 106 201 027 229 054 075 079 208


PAN_ISpQ_Group

image1png


INCOME STATEMENT PER QUARTER ndash AIR FREIGHT

Note Air Freight figures in CHF million

Air Freight Q1 2016 Q2 2016 Q3 2016 Q3YTD 2016 Q4 2016 FY 2016 Q1 2017 Q2 2017 Q3 2017 Q3 YTD 2017Net forwarding revenue 6332 6359 6341 19032 7234 26267 6571 7000 7389 20960 Forwarding expenses (4846) (4800) (4853) (14499) (5816) (20315) (5125) (5500) (5775) (16400)Gross profit 1486 1559 1489 4534 1418 5952 1447 1500 1614 4560 Personnel expenses (885) (869) (847) (2600) (873) (3473) (905) (916) (928) (2750)Other operating expenses (371) (359) (318) (1048) (284) (1333) (324) (317) (337) (978)EBITDA adjusted 230 331 324 885 261 1146 218 266 349 833 Depreciation and amortization (52) (52) (55) (158) (53) (211) (46) (47) (46) (139)EBIT adjusted 178 279 269 726 208 935 171 220 303 694 in of gross profit 120 179 181 160 147 157 118 146 188 152Non-recurring itemsRestructuring expenses 00 (127) 00 (127) 00 (127) 00 00 00 00

EBIT reported 178 153 269 600 208 808 171 220 303 694 in of gross profit 120 98 181 132 147 136 118 146 188 152

Air Freight volumes (000 tons) 2161 2251 2278 6690 2524 9214 2332 2399 2489 7220 change YoY 54 111 99 88 141 102 79 66 93 79GPton (CHF) 688 693 653 678 562 646 620 625 648 632 change YoY -47 -36 -73 -52 -140 -75 -98 -97 -08 -68


PAN_ISpQ_AirFreight

image1png


INCOME STATEMENT PER QUARTER ndash OCEAN FREIGHT

Note Ocean Freight figures in CHF million

Ocean Freight Q1 2016 Q2 2016 Q3 2016 Q3YTD 2016 Q4 2016 FY 2016 Q1 2017 Q2 2017 Q3 2017 Q3YTD 2017Net forwarding revenue 5338 4921 4955 15214 4770 19984 4915 5172 5551 15637 Forwarding expenses (4157) (3773) (3834) (11764) (3783) (15547) (3860) (4081) (4463) (12404)Gross profit 1181 1148 1121 3450 987 4438 1055 1091 1088 3234 Personnel expenses (791) (752) (755) (2298) (721) (3019) (779) (784) (788) (2352)Other operating expenses (305) (288) (274) (868) (275) (1144) (271) (265) (290) (827)EBITDA adjusted 84 108 92 284 (09) 275 05 41 09 55 Depreciation and amortization (41) (42) (41) (124) (42) (166) (36) (36) (38) (110)EBIT adjusted 43 66 51 160 (51) 109 (32) 06 (29) (55)in of gross profit 37 58 45 46 -51 25 -30 05 -27 -17Non-recurring itemsRestructuring expenses 00 (97) 0 (97) (19) (115) 00 00 00 00

EBIT reported 43 (30) 51 63 (69) (06) (32) 06 (29) (55)in of gross profit 37 -26 45 18 -70 -01 -30 05 -27 -17

Ocean Freight volumes (000 tons) 3482 3726 3787 10995 3890 14885 3742 3828 3856 11426 change YoY -100 -82 -88 -90 08 -66 75 27 18 39GPTEU (CHF) 339 308 296 314 254 298 282 285 282 283 change YoY 102 59 -16 47 -176 -11 -169 -75 -47 -98


PAN_ISpQ_OceanFreight

image1png


INCOME STATEMENT PER QUARTER ndash LOGISTICS

Note Logistics figures in CHF million

Logistics Q1 2016 Q2 2016 Q3 2016 Q3YTD 2016 Q4 2016 FY 2016 Q1 2017 Q2 2017 Q3 2017 Q3YTD 2017Net forwarding revenue 1402 1613 1374 4389 1321 5709 1286 1377 1394 4057 Forwarding expenses (420) (607) (429) (1456) (397) (1853) (460) (564) (580) (1604)Gross profit 982 1006 944 2933 924 3857 825 813 815 2454 Personnel expenses (574) (591) (528) (1694) (519) (2213) (479) (461) (469) (1409)Other operating expenses (360) (363) (378) (1102) (367) (1469) (298) (298) (298) (894)EBITDA adjusted 48 52 38 138 37 175 48 54 48 151 Depreciation and amortization (29) (29) (29) (88) (32) (119) (25) (24) (21) (69)EBIT adjusted 18 23 09 50 05 56 24 31 27 81 Non-recurring itemsRestructuring expenses 00 (38) 00 (38) 00 (38) 00 00 00 00

EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET

CHF Cash and cash equivalents 3888 2946 (942) -24Trade receivables unbilled forwarding services 9087 9893 806 9Other current assets 1025 1167 142 14Property plant and equipment 635 803 168 26Intangible assets 979 917 (62) -6Other non-current assets 990 1133 143 14Total assets 16606 16859 253 2

Short-term borrowings 23 21 (02) -10Trade payables accured cost of services 6524 7075 551 8Other current liabilities 2439 2254 (185) -8Long-Term borrowings 00 20 20 naOther long-term liabilities 1449 1527 78 5Total liabilities 10436 10896 460 4Share capital 24 24 (00) -1Reserves treasury shares 6057 5884 (173) -3Non-controlling interests 89 55 (34) -38Total equity 6170 5963 (207) -3Total equity and liabilities 16606 16859 253 2

31-Dec-16 30-Sept-17Change in


PAN_BalanceSheet

image1png


CASH FLOW

Note Figures in CHF million

30-Sep-16 30-Sep-17Change in

Cash flow before changes in working capital 1029 1075 Changes in working capital 357 (477)Cash from operations 1386 599

Interest and income taxes paid (292) (331)Net cash from operating activities 1094 267 -76

Net cash from investing activities (342) (409) 20

Free cash flow 752 (141) -119

Net cash used in financing activities (858) (894) 4

Net increase (decrease) in cash and cash equivalents (106) (1035)Cash and cash equivalents at beginning of period 3923 3888 Effect of exchange rate changes (17) 93 Cash and cash equivalents at end of period 3799 2946


Tabele PAN_Cashflow
Reported cash and cash equivalents at 31122016Profit YTD 092017Other non-cash items (eg DampA)Changes in working capitalInterest and income taxes paidNet cash from investing activitiesFinancing activitiesdividendEffect of exchange rate changesReported cash and cash equivalents at 300920173887843716999999999996448614155374652852799999999999728527999999999997

Nine months results 2017

Slide Number 2

ACHIEVEMENTS and key figures

Third consecutive quarter with GP and EBIT Growth


Air Freight Strong and profitable growth

Ocean Freight quarterly loss due to margin Stagnation

Logistics improved profitability


outlook and priorities 2017

Next EVENTs

Disclaimer

Appendix

Income statement per quarter ndash Group

Income statement per quarter ndash Air Freight

Income statement per quarter ndash Ocean Freight

Income statement per quarter ndash Logistics

Balance sheet

Cash flow

30-Sep-16 30-Sep-17 Change in

Cash flow before changes in working capital 1029 1075 r2
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Subtotal cash flow from operations gtgt (ltlt 2017 gtgt q_act_jan)13User Value 10749 Tsd PY IS MANUAL

Changes in working capital 357 (477) r3
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-7973 Tsd - ltlt (Increase) decrease receivables other current assets and unbilled forwarding services gtgt (ltlt 2017 gtgt q_act_jan)134406 Tsd - ltlt Increase (decrease) payables and accruals incl accrued cost of service gtgt (ltlt 2017 gtgt q_act_jan)13-472 Tsd - ltlt Increase (decrease) non-current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13-749 Tsd - ltlt Increase (decrease) current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-4787 Tsd (Total)

Cash from operations 1386 599 r4
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash generated from operations gtgt (ltlt 2017 gtgt q_act_jan)13User Value 5963 Tsd

Interest and income taxes paid (292) (331) r6
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-136 Tsd - ltlt Interest paid gtgt (ltlt 2017 gtgt q_act_jan)13-3175 Tsd - ltlt Income taxes paid gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-3311 Tsd (Total)

Net cash from operating activities 1094 267 -76 r7
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash from operating activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value 2652 Tsd

Net cash from investing activities (342) (409) 20 r9
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in investing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -4063 Tsd

Free cash flow 752 (141) -119 r11
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Free cash flow gtgt (ltlt 2017 gtgt q_act_jan)13User Value -1411 Tsd

Net cash used in financing activities (858) (894) 4 r13
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in financing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -8937 Tsd

Net increase (decrease) in cash and cash equivalents (106) (1035) r15
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net increase (decrease) in cash and cash equivalents gtgt (ltlt 2017 gtgt q_act_jan)13User Value -10348 Tsd

Cash and cash equivalents at beginning of period 3923 3888 r16
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the beginning of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 38878 Tsd

Effect of exchange rate changes (17) 93 r17
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Effect of exchange rate changes on cash and cash equivalents gtgt (ltlt 2017 gtgt q_act_jan)13User Value 933 Tsd

Cash and cash equivalents at end of period 3799 2946 r18
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the end of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 29463 Tsd

Reported cash and cash equivalents at 31122016 3888 r21
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the beginning of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 38878 Tsd Reported cash and cash equivalents at 31122016 3888

Profit YTD 092017 4839 r19
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 4839 Tsd Profit YTD 092017 3888 484

Other non-cash items (eg DampA) 591 r23
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13131565 Tsd - ltlt Depreciation of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)131616 Tsd - ltlt Amortization of intangible assets gtgt (ltlt 2017 gtgt q_act_jan)13-165 Tsd - ltlt Interest income and dividend on available-for-sale financial assets gtgt (ltlt 2017 gtgt q_act_jan)13-167 Tsd - ltlt Exchange differences gtgt (ltlt 2017 gtgt q_act_jan)13-025 Tsd - ltlt Loss (gain) on sales of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)13000 Tsd - ltlt Loss (gain) on sales of financial assets gtgt (ltlt 2017 gtgt q_act_jan)13497 Tsd - ltlt Expenses for share-based compensation plans gtgt (ltlt 2017 gtgt q_act_jan)13238 Tsd - ltlt Other non-cash (income) and expenses gtgt (ltlt 2017 gtgt q_act_jan)132351 Tsd - ltlt Income tax expenses gtgt (ltlt 2017 gtgt q_act_jan)13---------------------135910 Tsd (Total) Other non-cash items (eg DampA) 4372 591

Changes in working capital -4766 r24
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-7973 Tsd - ltlt (Increase) decrease receivables other current assets and unbilled forwarding services gtgt (ltlt 2017 gtgt q_act_jan)134406 Tsd - ltlt Increase (decrease) payables and accruals incl accrued cost of service gtgt (ltlt 2017 gtgt q_act_jan)13-472 Tsd - ltlt Increase (decrease) non-current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13-749 Tsd - ltlt Increase (decrease) current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-4787 Tsd (Total) Changes in working capital 4486 477 neg

Interest and income taxes paid -3311 r25
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-136 Tsd - ltlt Interest paid gtgt (ltlt 2017 gtgt q_act_jan)13-3175 Tsd - ltlt Income taxes paid gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-3311 Tsd (Total) Interest and income taxes paid 4155 331 neg

Net cash from investing activities -4085 r26
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in investing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -4063 Tsd Net cash from investing activities 3747 409 neg

Financing activitiesdividend -8937 r27
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in financing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -8937 Tsd Financing activitiesdividend 2853 894 neg

Effect of exchange rate changes 933 r28
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Effect of exchange rate changes on cash and cash equivalents gtgt (ltlt 2017 gtgt q_act_jan)13User Value 933 Tsd Effect of exchange rate changes 2853 93

PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Subtotal cash flow from operations gtgt (ltlt 2017 gtgt q_act_jan)13User Value 10749 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 4839 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13131565 Tsd - ltlt Depreciation of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)131616 Tsd - ltlt Amortization of intangible assets gtgt (ltlt 2017 gtgt q_act_jan)13-165 Tsd - ltlt Interest income and dividend on available-for-sale financial assets gtgt (ltlt 2017 gtgt q_act_jan)13-167 Tsd - ltlt Exchange differences gtgt (ltlt 2017 gtgt q_act_jan)13-025 Tsd - ltlt Loss (gain) on sales of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)13000 Tsd - ltlt Loss (gain) on sales of financial assets gtgt (ltlt 2017 gtgt q_act_jan)13497 Tsd - ltlt Expenses for share-based compensation plans gtgt (ltlt 2017 gtgt q_act_jan)13238 Tsd - ltlt Other non-cash (income) and expenses gtgt (ltlt 2017 gtgt q_act_jan)132351 Tsd - ltlt Income tax expenses gtgt (ltlt 2017 gtgt q_act_jan)13---------------------135910 Tsd (Total)
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-136 Tsd - ltlt Interest paid gtgt (ltlt 2017 gtgt q_act_jan)13-3175 Tsd - ltlt Income taxes paid gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-3311 Tsd (Total) Reported cash and cash equivalents at 30092017 2946 3888

484

591

(479)

(331)

(406)

(894)

93

2946

31-Dec-16 30-Sept-17 Change in

CHF

Cash and cash equivalents 3888 2946 (942) -24 r3
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Cash and cash equivalents gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 29463 Tsd 3888 3999 111 3

Trade receivables unbilled forwarding services 9087 9893 806 9 r4
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Trade receivables unbilled forwarding services gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 98929 Tsd 9087 8693 -394 -4

Other current assets 1025 1167 142 14 r5
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other current assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 11671 Tsd 1025 1335 31 30

Property plant and equipment 635 803 168 26 r6
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Property plant and equipment gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 8028 Tsd 635 651 16 3

Intangible assets 979 917 (62) -6 r7
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Intangible assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 9168 Tsd 979 926 -53 -5

Other non-current assets 990 1133 143 14 r8
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other non-current assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 11586 Tsd 99 1073 83 8

Total assets 16606 16859 253 2 r9
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 168844 Tsd 166060 166780 72 0

0

Short-term borrowings 23 21 (02) -10 r11
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Short-term borrowings gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 208 Tsd 23 05 -18 -78

Trade payables accured cost of services 6524 7075 551 8 r12
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Trade payables accured cost of services gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 70745 Tsd 6524 620 -324 -5

Other current liabilities 2439 2254 (185) -8 r13
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other current liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 22538 Tsd 2439 2592 153 6

Long-Term borrowings 00 20 20 na r20
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Long-term borrowings gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 197 Tsd 0 12 12 na

Other long-term liabilities 1449 1527 78 5 r21
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other long-term liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 15270 Tsd 1449 1479 3 2

Total liabilities 10436 10896 460 4 r14
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 108956 Tsd 104360 102880 -148 -1

Share capital 24 24 (00) -1 r15
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Share capital gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 238 Tsd 24 24 0 0

Reserves treasury shares 6057 5884 (173) -3 r16
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Reserves treasury shares gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 59100 Tsd 6057 6285 228 4

Non-controlling interests 89 55 (34) -38 r17
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Non-controlling interests gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 550 Tsd 89 81 -08 -9

Total equity 6170 5963 (207) -3 r18
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 59887 Tsd 617 639 22 4

Total equity and liabilities 16606 16859 253 2 r19
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity and liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 168844 Tsd 166060 166780 72 0

KPIs 31-Dec-16 30-Jun-17

Equity Ratio 372 354 s20
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q2_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity and liabilities gtgt (ltlt June 30 2017 gtgt q_act_jan)13User Value 153472 Tsd

PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Cash and cash equivalents gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 29463 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Trade receivables unbilled forwarding services gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 98929 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other current assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 11671 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Property plant and equipment gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 8028 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Intangible assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 9168 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other non-current assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 11586 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 168844 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Short-term borrowings gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 208 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Trade payables accured cost of services gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 70745 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other current liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 22538 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Long-term borrowings gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 197 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other long-term liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 15270 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 108956 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Share capital gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 238 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Reserves treasury shares gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 59100 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Non-controlling interests gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 550 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 59887 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity and liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 168844 Tsd NWC-Intensity 18 13 mf24

DSO 3-m-rolling YTD 455 467 m22

DPO 3-m-rolling YTD 407 397 m23

2017 2016

Logistics Q1 2016 Q2 2016 HY 2016 Q3 2016 Q3YTD 2016 Q4 2016 FY 2016 Q1 2017 Q2 2017 HY 2017 Q3 2017 Q3YTD 2017

Net forwarding revenue 1402 1613 3015 1374 4389 1321 5709 1286 1377 2663 1394 4057 m4 m4 r4
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act)13User Value 13945 Tsd r4
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act_jan)13User Value 40573 Tsd -00 00 (01)

Forwarding expenses (420) (607) (1027) (429) (1456) (397) (1853) (460) (564) (1024) (580) (1604) m5 m5 r5
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_3 gtgt q_act)13User Value -5796 Tsd r5
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_3 gtgt q_act_jan)13User Value -16035 Tsd -00 00 00

Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_3 gtgt q_act)13User Value 8148 Tsd r6
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_3 gtgt q_act_jan)13User Value 24537 Tsd 00 01 01

Personnel expenses (574) (591) (1166) (528) (1694) (519) (2213) (479) (461) (940) (469) (1409) m7 m7 r7
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_3 gtgt q_act)13User Value -4692 Tsd r7
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_3 gtgt q_act_jan)13User Value -14091 Tsd -00 (01) (01)

Other operating expenses (360) (363) (723) (378) (1102) (367) (1469) (298) (298) (596) (298) (894) m8 m8 r8
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_3 gtgt q_act)13User Value -2977 Tsd r8
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_3 gtgt q_act_jan)13User Value -8940 Tsd 00 00 (01)

EBITDA adjusted 48 52 100 38 138 37 175 48 54 103 48 151 m9 m9 r9
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_3 gtgt q_act)13User Value 479 Tsd r9
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_3 gtgt q_act_jan)13User Value 1506 Tsd 00 00 00

Depreciation and amortization (29) (29) (58) (29) (88) (32) (119) (25) (24) (48) (21) (69) m10 m10 r10
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_3 gtgt q_act)13User Value -208 Tsd r10
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_3 gtgt q_act_jan)13User Value -692 Tsd 00 00 00

EBIT adjusted 18 23 41 09 50 05 56 24 31 54 27 81 m11 m11 r11
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_3 gtgt q_act)13User Value 271 Tsd r11
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_3 gtgt q_act_jan)13User Value 815 Tsd -00 00 01

Non-recurring items

Restructuring expenses 00 (38) (38) 00 (38) 00 (38) 00 00 00 00 00 m13 m13 m13 m13 00 00 00

EBIT reported 18 (15) 03 09 12 05 18 24 31 54 27 81 m15 m15 r15
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_3 gtgt q_act_jan)13User Value 815 Tsd

PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act)13User Value 13945 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act_jan)13User Value 40573 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_3 gtgt q_act)13User Value -5796 Tsd GP Change YoY -19 -18 -14 -16 s16 s16

2017 2016

Ocean Freight Q1 2016 Q2 2016 HY 2016 Q3 2016 Q3YTD 2016 Q4 2016 FY 2016 Q1 2017 Q2 2017 HY 2017 Q3 2017 Q3YTD 2017

PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_2 gtgt q_act_jan)13User Value 156375 Tsd 00 00 00


Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6

PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_2 gtgt q_act_jan)13User Value -23522 Tsd -00 00 00

PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_2 gtgt q_act_jan)13User Value -8265 Tsd -00 (01) (02)

EBITDA adjusted 84 108 192 92 284 (09) 275 05 41 46 09 55 m9 m9 r9
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_2 gtgt q_act_jan)13User Value 550 Tsd -00 00 00

PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_2 gtgt q_act_jan)13User Value -1102 Tsd -00 00 00

EBIT adjusted 43 66 109 51 160 (51) 109 (32) 06 (26) (29) (55) m11 m11 r11
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_2 gtgt q_act)13User Value -295 Tsd r11
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_2 gtgt q_act_jan)13User Value -552 Tsd 00 00 00

in of gross profit 37 58 47 45 46 -51 25 -30 05 -12 -27 -17 m12 m12 s12 s12

Non-recurring items 00 00 00

Restructuring expenses 00 (97) (97) 0 (97) (19) (115) 00 00 00 00 00 m14 m14 m14 m14 00 00 01

EBIT reported 43 (30) 13 51 63 (69) (06) (32) 06 (26) (29) (55) m16 m16 r16
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_2 gtgt q_act_jan)13User Value -552 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_2 gtgt q_act)13User Value -44629 Tsd 00 00 (01)

in of gross profit 37 -26 05 45 18 -70 -01 -30 05 -12 -27 -17 m17 m17 s17 s17

Ocean Freight volumes (000 tons) 3482 3726 7208 3787 10995 3890 14885 3742 3828 7570 3856 11426 m19 m19 m19 m19 00 00 00

change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016

Air Freight Q1 2016 Q2 2016 HY 2016 Q3 2016 Q3YTD 2016 Q4 2016 FY 2016 Q1 2017 Q2 2017 HY 2017 Q3 2017 Q3 YTD 2017


PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_1 gtgt q_act_jan)13User Value -164000 Tsd 00 00 00

Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_1 gtgt q_act_jan)13User Value 45602 Tsd -00 00 00





PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_1 gtgt q_act_jan)13User Value 6943 Tsd 00 00 01

in of gross profit 120 179 150 181 160 147 157 118 146 133 188 152 m12 m12 s12 s12



EBIT reported 178 153 331 269 600 208 808 171 220 391 303 694 m16 m16 r16
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_1 gtgt q_act)13User Value -57751 Tsd 00 00 00


Air Freight volumes (000 tons) 2161 2251 4412 2278 6690 2524 9214 2332 2399 4731 2489 7220 m19 m19 m19 m19 00 00 00

change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22

GP change YoY -4 -3 8 1 s23 s23

2017 2016

Group Q1 2016 Q2 2016 HY 2016 Q3 2016 Q3YTD 2016 Q4 2016 FY 2016 Q1 2017 Q2 2017 HY 2017 Q3 2017 Q3YTD 2017

Net forwarding revenue 13072 12894 25965 12670 38635 13325 51960 12772 13549 26321 14334 40655 r4
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Net forwarding revenue gtgt (ltlt 2017 gtgt q_act)13User Value 1433411124 Tsd r4
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Net forwarding revenue gtgt (ltlt 2017 gtgt q_act_jan)13User Value 4065500417 Tsd -00 -01 -01

Forwarding expenses (9423) (9180) (18602) (9116) (27718) (9996) (37714) (9445) (10145) (19590) (10818) (30407) r5
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Forwarding services from third parties gtgt (ltlt 2017 gtgt q_act)13User Value -1081765298 Tsd r5
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Forwarding services from third parties gtgt (ltlt 2017 gtgt q_act_jan)13User Value -3040736424 Tsd 00 01 01

Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act)13User Value 351645826 Tsd r6
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 1024763993 Tsd 00 00 00

Personnel expenses (2250) (2213) (4463) (2129) (6592) (2113) (8705) (2164) (2162) (4326) (2186) (6511) r7
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Personnel expenses gtgt (ltlt 2017 gtgt q_act)13User Value -218561825 Tsd r7
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Personnel expenses gtgt (ltlt 2017 gtgt q_act_jan)13User Value -651090060 Tsd 00 00 00

Other operating expenses (1037) (1011) (2047) (971) (3018) (927) (3945) (893) (880) (1773) (925) (2698) r8
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Other operating expenses gtgt (ltlt 2017 gtgt q_act)13User Value -92494218 Tsd r8
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Other operating expenses gtgt (ltlt 2017 gtgt q_act_jan)13User Value -269813050 Tsd 00 01 01

EBITDA adjusted 362 491 853 454 1307 289 1596 271 362 633 406 1039 r9
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt EBITDA gtgt (ltlt 2017 gtgt q_act)13User Value 40589783 Tsd r9
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt EBITDA gtgt (ltlt 2017 gtgt q_act_jan)13User Value 103860882 Tsd -00 00 00

Depreciation of property plant and equip (62) (62) (125) (62) (187) (71) (258) (53) (54) (107) (50) (156) r10
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Depreciation of property plant and equipment gtgt (ltlt 2017 gtgt q_act)13User Value -4981553 Tsd r10
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Depreciation of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)13User Value -15648388 Tsd 00 -01 -01

Amortization of intangible assets (60) (60) (120) (63) (183) (56) (239) (54) (52) (106) (55) (162) r11
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Amortization of intangible assets gtgt (ltlt 2017 gtgt q_act)13User Value -5514918 Tsd r11
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Amortization of intangible assets gtgt (ltlt 2017 gtgt q_act_jan)13User Value -16157763 Tsd -00 00 00

EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act)13User Value 30093312 Tsd r12
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act_jan)13User Value 72054731 Tsd -00 00 -01

in of gross profit 66 99 83 92 86 49 77 49 75 62 86 70 s13 s13


Restructuring expenses 00 (261) (261) 00 (261) (19) (280) 00 00 00 00 00 r15
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_act)13User Value 0000000 Tsd r15
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_act_jan)13User Value 0000000 Tsd 00 00 00

EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00

in of gross profit 66 29 47 92 62 43 58 49 75 62 86 70 s18 s18 -01 -00 -02

Financial result (09) 07 (02) (04) (06) 02 (04) 02 01 03 (04) (02) r19
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13130939883 Tsd - ltlt Finance income gtgt (ltlt 2017 gtgt q_act)13-1343957 Tsd - ltlt Finance costs gtgt (ltlt 2017 gtgt q_act)13---------------------13-0404074 Tsd (Total) r19
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13133163726 Tsd - ltlt Finance income gtgt (ltlt 2017 gtgt q_act_jan)13-3315684 Tsd - ltlt Finance costs gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-0151958 Tsd (Total) -00 00 00

Earnings before taxes (EBT) 231 114 345 325 670 146 816 165 257 422 297 719 r20
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit before income tax (EBT) gtgt (ltlt 2017 gtgt q_act)13User Value 29689237 Tsd r20
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit before income tax (EBT) gtgt (ltlt 2017 gtgt q_act_jan)13User Value 71902773 Tsd 00 00 00

Income tax expenses (58) (69) (126) (79) (205) (88) (293) (42) (81) (123) (112) (235) r21
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Income tax expenses gtgt (ltlt 2017 gtgt q_act)13User Value -8638414 Tsd r21
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Income tax expenses gtgt (ltlt 2017 gtgt q_act_jan)13User Value -20922552 Tsd 00 01 01

of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act)13User Value 21050824 Tsd r23
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 50980221 Tsd -00 00 01

Earnings per share 075 021 096 106 201 027 229 054 075 129 079 208 s24
PAC Serova Elena (External) Referenced Value (value_1_PQACTJAN02)1313Document Q2_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Basic gtgt (ltlt 2017 gtgt q_act_jan)13User Value 0000540 Tsd s24
PAC Serova Elena (External) Referenced Value (value_1_PQACTJAN02)1313Document Q2_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Basic gtgt (ltlt 2017 gtgt q_act_jan)13User Value 0000540 Tsd 00 00 00

0 0 46460419259 0 0 0 0 m25 m25 00 00

Earnings per share 1000 0000788 0002078 rf28
PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Basic gtgt (ltlt 2017 gtgt q_act)13User Value 0000898 Tsd rf28
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Basic gtgt (ltlt 2017 gtgt q_act_jan)13User Value 0002188 Tsd

Total Operating Expenses (3111) (9209) s25 s25

OOE YoY

042

Q3

GP Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Gross profit

94 92 83 81 81 r3
PAC Stuker Benjamin Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 38 - IRAC Income statement per quarter - Logistics13Row Gross profit (value_1 q_act)13User Value 814848 Mio Q3 2016 94

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7
PAC Stuker Benjamin Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 38 - IRAC Income statement per quarter - Logistics13Row EBIT reported (value_1 q_act)13User Value 27118 Mio Q3 2017 81

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017

YoY Growth Q3 Q4 Q1 Q2 Q3 Gross Profit EBIT YTD YTD

Gross Profit -6 -11 -16 -19 -14 r5
PAC Stuker Benjamin Referenced Value (value_1_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 38 - IRAC Income statement per quarter - Logistics13Row GP Change YoY (value_1 q_act)13User Value -01372 Mio Gross Profit 2933 24537 -16 r5
PAC Stuker Benjamin Referenced Value (value_2_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_3 gtgt q_act_jan)13User Value 24537 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 38 - IRAC Income statement per quarter - Logistics13Row Gross profit (value_1 q_prior_jan)13User Value 2933025 Mio

EBIT (adjusted PY) 50 81 63 rf7
PAC Stuker Benjamin Referenced Value (value_2_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_3 gtgt q_act_jan)13User Value 815 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (Segment EBIT) adjusted gtgt (ltlt value_3 gtgt q_prior_jan)13User Value 501 Tsd

NFR in of EBIT 10 20 m9

NFR 43888478 4057267 rf8
PAC Stuker Benjamin Referenced Value (value_2_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act_jan)13User Value 40573 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_prior_jan)13User Value 43888 Tsd

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row Ocean Freight volumes (000 tons) (value_1 q_act)13User Value 3856050 Mio Q3 2016 379 296

296 254 282 285 282 m4 r4
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row GPTEU (CHF) (value_1 q_act)13User Value 2820750 Mio Q4 2016 389 254

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row EBIT reported (value_1 q_act)13User Value -29490 Mio Q3 2017 386 282

45 -51 -3 06 -003 m8 r8
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row in of gross profit (value_1 q_act)13User Value -00271 Mio

PAC Hamon Pierrick Invalid Reference (value_3_PQACT02) 1313Reference could not be handled13Underlying Formula EBIT EBIT EBIT GP

0 -00271 r11
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row Ocean Freight volumes (000 tons) (value_1 q_act)13User Value 3856050 Mio
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row GPTEU (CHF) (value_1 q_act)13User Value 2820750 Mio
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row EBIT reported (value_1 q_act)13User Value -29490 Mio
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row in of gross profit (value_1 q_act)13User Value -00271 Mio Q3 2016 51 45

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017


Volume (market estimated) 0 3 4 3 3 m5 Gross Profit 3450 3234 -6 r5
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row Gross profit (value_1 q_act_jan)13User Value 3233667 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row Gross profit (value_1 q_prior_jan)13User Value 3450353 Mio

Volume (Panalpina) -9 1 7 3 2 r6
PAC Monaco Salvatore Referenced Value (value_1_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row change YoY (value_1 q_act)13User Value 00182 Mio EBIT (adjusted PY) 160 -55 -135 r6
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row EBIT adjusted (value_1 q_act_jan)13User Value -55208 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row EBIT adjusted (value_1 q_prior_jan)13User Value 159801 Mio

GPTEU -2 -18 -17 -7 -5 r7
PAC Monaco Salvatore Referenced Value (value_1_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row change YoY (value_1 q_act)13User Value -00471 Mio EBITGP () 46 -17 r7
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row in of gross profit (value_1 q_act_jan)13User Value -00171 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row in of gross profit (value_1 q_prior_jan)13User Value 00463 Mio

Gross Profit -10 -16 -11 -5 -3 r8
PAC Monaco Salvatore Referenced Value (value_1_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row GP change YoY (value_1 q_act)13User Value -00298 Mio
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row in of gross profit (value_1 q_act_jan)13User Value -00171 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row in of gross profit (value_1 q_prior_jan)13User Value 00463 Mio Volumes (TEUs 000) 10995 11426 4 r8
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row Ocean Freight volumes (000 tons) (value_1 q_act_jan)13User Value 11426050 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 37 - IRAC Income statement per quarter - Ocean Freight13Row Ocean Freight volumes (000 tons) (value_1 q_prior_jan)13User Value 10994918 Mio

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row Air Freight volumes (000 tons) (value_1 q_act)13User Value 2489350 Mio Q3 2016 228 653

653 562 620 625 648 m5 r4
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row GPton (CHF) (value_1 q_act)13User Value 6483290 Mio Q4 2016 252 562

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row EBIT adjusted (value_1 q_act)13User Value 303313 Mio Q3 2017 249 648

181 147 118 147 019 m7 r8
PAC Monaco Salvatore Referenced Value (value_3_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row in of gross profit (value_1 q_act)13User Value 01879 Mio

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017


Volume (market estimated) 2 8 6 10 10 m5 Gross Profit 4534 4560 1 r5
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row Gross profit (value_1 q_act_jan)13User Value 4560242 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row Gross profit (value_1 q_prior_jan)13User Value 4533576 Mio

Volume (Panalpina) 10 14 8 7 8 r6
PAC Monaco Salvatore Referenced Value (value_1_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row change YoY (value_1 q_act_jan)13User Value 00793 Mio EBIT (adjusted PY) 726 694 -4 r6
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row EBIT reported (value_1 q_act_jan)13User Value 694303 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row EBIT adjusted (value_1 q_prior_jan)13User Value 726409 Mio

GPton -7 -14 -10 -10 -1 r7
PAC Monaco Salvatore Referenced Value (value_1_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row change YoY (value_1 q_act)13User Value -00079 Mio EBITGP () 160 152 r7
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row in of gross profit (value_1 q_act_jan)13User Value 01523 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row in of gross profit (value_1 q_prior_jan)13User Value 01602 Mio

Gross Profit 2 -2 -3 -4 8 r8
PAC Monaco Salvatore Referenced Value (value_1_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row GP change YoY (value_1 q_act)13User Value 00842 Mio
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row in of gross profit (value_1 q_act_jan)13User Value 01523 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row in of gross profit (value_1 q_prior_jan)13User Value 01602 Mio Volumes (tons 000) 6690 7220 8 r8
PAC Monaco Salvatore Referenced Value (value_2_PQACT02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row Air Freight volumes (000 tons) (value_1 q_act_jan)13User Value 7220350 Mio1313----------------------------------------------------------------------------------------1313Referenced Value (value_2_PQPRIOR02)1313Document Q3_2017_Investor amp AC presentations13Chapter 36 - IRAC Income statement per quarter - Air Freight13Row Air Freight volumes (000 tons) (value_1 q_prior_jan)13User Value 6690029 Mio

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


2016 2017


Volume (market) -4 -2 2 8 6


GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017

Gross Profit EBIT Q1 Q1

Gross Profit 1486 1447

EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts

Gross profit Gross profit

Q3 102476 10917 r4
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 1024763993 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_prior_jan)13User Value 1091695000 Tsd 2016 HYQ3 7363 3554

Q3 alone 352 355 r5
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act)13User Value 351645826 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_prior)13User Value 355406000 Tsd 2017 HYQ3 6731 3517 -61

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act_jan)13User Value 72054731 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (Segment EBIT) adjusted gtgt (ltlt value_4 gtgt q_prior_jan)13User Value 9363 Tsd 2016 HYQ3 608 329

Q3 alone 3009 3286 r10
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act)13User Value 30093312 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement131332856500 Tsd - ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_prior)130000000 Tsd - ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_prior)13---------------------1332856500 Tsd (Total) 2017 HYQ3 420 301 -230

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 48390567 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13134646 Tsd - ltlt Profit gtgt (ltlt value_4 gtgt q_prior_jan)132610 Tsd - ltlt Restructuring expenses gtgt (ltlt value_4 gtgt q_prior_jan)13---------------------137256 Tsd (Total) 2016 HYQ3 479 246

Q3 alone 1846 2462 r15
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act)13User Value 18461169 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement131324623919 Tsd - ltlt Profit gtgt (ltlt 2017 gtgt q_prior)130000000 Tsd - ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_prior)13---------------------1324623919 Tsd (Total)
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 1024763993 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_prior_jan)13User Value 1091695000 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act)13User Value 351645826 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_prior)13User Value 355406000 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act_jan)13User Value 72054731 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (Segment EBIT) adjusted gtgt (ltlt value_4 gtgt q_prior_jan)13User Value 9363 Tsd
PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act)13User Value 30093312 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement131332856500 Tsd - ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_prior)130000000 Tsd - ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_prior)13---------------------1332856500 Tsd (Total) 2017 HYQ3 299 185

HY alone 2993 4794 s16 -333

2016 2017




GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017



EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts


Q3 102476 10917 r4

Q3 alone 352 355 r5

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8

Q3 alone 3009 3286 r10

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12

Q3 alone 1846 2462 r15

HY alone 2993 4794 s16 -333

2016 2017




GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017



EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts


Q3 102476 10917 r4

Q3 alone 352 355 r5

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8

Q3 alone 3009 3286 r10

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12

Q3 alone 1846 2462 r15

HY alone 2993 4794 s16 -333


Achievements and key figures



Appendix




479

299

246

185

2016 HYQ3

2017 HYQ3


608

420

329

301

2016 HYQ3

2017 HYQ3


7363

6731

3554

3517

2016 HYQ3

2017 HYQ3

GROSS PROFIT






stable margins


end of June 2017




-61

-230

-333

1rsquo0248

1rsquo0917

721

936

484

726




Chart1


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846


Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE

Chart2


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE

Chart3

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE






level




GPton -7 -14 -10 -10 -1


2017



EBITGP () 160 152

Volumes (tons 000) 6690 7220 8

228252

233 240 249

653

562620 625 648

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TONNAGE GPTON


269

208171

220

303

181

147118

147

188

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017




Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003

Chart1

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003

Chart2


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003








GPTEU -2 -18 -17 -7 -5

Gross Profit -10 -16 -11 -5 -3

2017



EBITGP () 46 -17

Volumes (TEUs 000) 10995 11426 4

379 389 374 383 386

296

254

282 285 282

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TEU GPTEU


51

-51 -32

06

-29

45

-51 -30

06

-27

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017




Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart1

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart2


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271






2016 2017






Gross Profit -6 -11 -16 -19 -14

2017

94 9283 81 81

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

GROSS PROFIT

0905

24

3127

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

EBIT (ADJUSTED PY)


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart1

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart2

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271





OUTLOOK Market



Panalpina



PRIORITIES






YEAR-END RESULTS

MARCH 7 2018

NEXT EVENTS


DISCLAIMER






APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


2016 2017




GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017



EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts


Q3 102476 10917 r4

Q3 alone 352 355 r5

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8

Q3 alone 3009 3286 r10

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12

Q3 alone 1846 2462 r15

HY alone 2993 4794 s16 -333

2016 2017




GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017



EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts


Q3 102476 10917 r4

Q3 alone 352 355 r5

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8

Q3 alone 3009 3286 r10

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12

Q3 alone 1846 2462 r15

HY alone 2993 4794 s16 -333

2016 2017




GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017



EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts


Q3 102476 10917 r4

Q3 alone 352 355 r5

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8

Q3 alone 3009 3286 r10

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12

Q3 alone 1846 2462 r15

HY alone 2993 4794 s16 -333




479

299

246

185

2016 HYQ3

2017 HYQ3


608

420

329

301

2016 HYQ3

2017 HYQ3


7363

6731

3554

3517

2016 HYQ3

2017 HYQ3

GROSS PROFIT






stable margins


end of June 2017




-61

-230

-333

1rsquo0248

1rsquo0917

721

936

484

726




Chart1


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846


Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE

Chart2


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE

Chart3

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


Charts

GROSS PROFIT

2016 HYQ32017 HYQ37362967311

2016 HYQ32017 HYQ33554135165


2016 HYQ32017 HYQ36076999999999999641959999999999994

2016 HYQ32017 HYQ332863009


2016 HYQ32017 HYQ347942993

2016 HYQ32017 HYQ324621846

NOT IN USE






level




GPton -7 -14 -10 -10 -1


2017



EBITGP () 160 152

Volumes (tons 000) 6690 7220 8

228252

233 240 249

653

562620 625 648

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TONNAGE GPTON


269

208171

220

303

181

147118

147

188

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017




Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003

Chart1

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003

Chart2


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003








GPTEU -2 -18 -17 -7 -5

Gross Profit -10 -16 -11 -5 -3

2017



EBITGP () 46 -17

Volumes (TEUs 000) 10995 11426 4

379 389 374 383 386

296

254

282 285 282

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TEU GPTEU


51

-51 -32

06

-29

45

-51 -30

06

-27

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017




Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart1

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart2


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271






2016 2017






Gross Profit -6 -11 -16 -19 -14

2017

94 9283 81 81

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

GROSS PROFIT

0905

24

3127

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

EBIT (ADJUSTED PY)


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart1

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart2

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271





OUTLOOK Market



Panalpina



PRIORITIES






YEAR-END RESULTS

MARCH 7 2018

NEXT EVENTS


DISCLAIMER






APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


2016 2017




GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017



EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts


Q3 102476 10917 r4

Q3 alone 352 355 r5

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8

Q3 alone 3009 3286 r10

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12

Q3 alone 1846 2462 r15

HY alone 2993 4794 s16 -333

2016 2017




GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017



EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts


Q3 102476 10917 r4

Q3 alone 352 355 r5

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8

Q3 alone 3009 3286 r10

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12

Q3 alone 1846 2462 r15

HY alone 2993 4794 s16 -333

2016 2017




GPton -5 -4 -7 -14 -10

GPton 0 7 2 -2 -3

2016 2017



EBIT 178 171

EBITGP () 120 118

Q3 2017 2016

Data for Charts


Q3 102476 10917 r4

Q3 alone 352 355 r5

HY alone 673 736 s6

EBIT EBIT

Q3 7205 9363 r8

Q3 alone 3009 3286 r10

HY alone 4196 6077 s11

Profit Profit

Q3 4839 7256 r12

Q3 alone 1846 2462 r15

HY alone 2993 4794 s16 -333






level




GPton -7 -14 -10 -10 -1


2017



EBITGP () 160 152

Volumes (tons 000) 6690 7220 8

228252

233 240 249

653

562620 625 648

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TONNAGE GPTON


269

208171

220

303

181

147118

147

188

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017




Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003

Chart1

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003

Chart2


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003


Table

Charts

TONNAGE GPTON

Tons (000)


6535626206251430000000000364832899999999995


EBIT (adjusted PY)


181000000000000011471181464999999999999918790000000000003








GPTEU -2 -18 -17 -7 -5

Gross Profit -10 -16 -11 -5 -3

2017



EBITGP () 46 -17

Volumes (TEUs 000) 10995 11426 4

379 389 374 383 386

296

254

282 285 282

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TEU GPTEU


51

-51 -32

06

-29

45

-51 -30

06

-27

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017




Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart1

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart2


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271






2016 2017






Gross Profit -6 -11 -16 -19 -14

2017

94 9283 81 81

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

GROSS PROFIT

0905

24

3127

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

EBIT (ADJUSTED PY)


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart1

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart2

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271





OUTLOOK Market



Panalpina



PRIORITIES






YEAR-END RESULTS

MARCH 7 2018

NEXT EVENTS


DISCLAIMER






APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7


Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

228 252 233 240 249 m4 r3

653 562 620 625 648 m5 r4

Q1 2017 233 620

Q2 2017 240 625

EBIT 269 208 171 220 303 m6 r7

181 147 118 147 019 m7 r8

EBIT

Q3 2016 269 181

Q4 2016 208 147

Q1 2017 171 118

Q2 2017 220 147

Q3 2017 303 188

2017 2016

2017 2016 2017




GPton -7 -14 -10 -10 -1 r7









GPTEU -2 -18 -17 -7 -5

Gross Profit -10 -16 -11 -5 -3

2017



EBITGP () 46 -17

Volumes (TEUs 000) 10995 11426 4

379 389 374 383 386

296

254

282 285 282

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

TEU GPTEU


51

-51 -32

06

-29

45

-51 -30

06

-27

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017




Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart1

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271

Chart2


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271


Sheet1

charts

TEU GPTEU

TEU (in 000)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 20172962542822849460000000000328207499999999999


EBIT (adjusted PY)


Q3 2016Q4 2016Q1 2017Q2 2017Q3 201745-50999999999999996-305806-271






2016 2017






Gross Profit -6 -11 -16 -19 -14

2017

94 9283 81 81

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

GROSS PROFIT

0905

24

3127

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

EBIT (ADJUSTED PY)


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart1

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart2

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271





OUTLOOK Market



Panalpina



PRIORITIES






YEAR-END RESULTS

MARCH 7 2018

NEXT EVENTS


DISCLAIMER






APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8

Q3

TEU Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 TEU

379 389 374 3828 386 m3 r3

296 254 282 285 282 m4 r4

Q1 2017 374 282

Q2 2017 383 285

EBIT 51 -51 -32 06 -29 m7 r10

45 -51 -3 06 -003 m8 r8


0 -00271 r11

Q4 2016 -51 -51

Q1 2017 -32 -30

Q2 2017 06 06

Q3 2017 -29 -27

2017 2016

2017 2016 2017




GPTEU -2 -18 -17 -7 -5 r7

Gross Profit -10 -16 -11 -5 -3 r8






2016 2017






Gross Profit -6 -11 -16 -19 -14

2017

94 9283 81 81

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

GROSS PROFIT

0905

24

3127

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

EBIT (ADJUSTED PY)


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart1

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271

Chart2

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271


Table

charts

GROSS PROFIT

Q3 2016Q4 2016Q1 2017Q2 2017Q3 201794928381348148

EBIT (ADJUSTED PY)

Q3 2016Q4 2016Q1 2017Q2 2017Q3 2017090524306271





OUTLOOK Market



Panalpina



PRIORITIES






YEAR-END RESULTS

MARCH 7 2018

NEXT EVENTS


DISCLAIMER






APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8

Q3


94 92 83 81 81 r3

Q4 2016 92

Q1 2017 83

Q2 2017 81

EBIT 09 05 24 31 27 r7

EBIT

Q3 2016 09

Q4 2016 05

Q1 2017 24

Q2 2017 31

Q3 2017 27

2017 2016

2017 2016 2017


Gross Profit -6 -11 -16 -19 -14 r5



NFR 43888478 4057267 rf8





OUTLOOK Market



Panalpina



PRIORITIES






YEAR-END RESULTS

MARCH 7 2018

NEXT EVENTS


DISCLAIMER






APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042


YEAR-END RESULTS

MARCH 7 2018

NEXT EVENTS


DISCLAIMER






APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042


DISCLAIMER






APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042


APPENDIX







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042







PAN_ISpQ_Group

image1png








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22


2017 2016




Gross profit 3649 3714 7363 3554 10917 3329 14246 3327 3404 6731 3516 10248 r6






EBIT adjusted 240 368 608 329 936 163 1099 164 256 420 301 721 r12




EBIT reported 240 107 347 329 675 144 820 164 256 420 301 721 s17 s17 -00 00 00





of EBT 250 602 367 242 306 601 359 252 316 291 378 327 s22 s22

Profit 173 45 218 246 465 58 523 124 176 299 185 484 r23


0 0 46460419259 0 0 0 0 m25 m25 00 00



OOE YoY

042








PAN_ISpQ_AirFreight

image1png









image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23

2017 2016




Gross profit 1486 1559 3045 1489 4534 1418 5952 1447 1500 2946 1614 4560 m6 m6 r6












change YoY 54 111 82 99 88 141 102 79 66 72 93 79 m20 m20 s20 s20

GPton (CHF) 688 693 690 653 678 562 646 620 625 623 648 632 m21 m21 s21 s21

change YoY -47 -36 -41 -73 -52 -140 -75 -98 -97 -98 -08 -68 m22 m22 s22 s22










image1png





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items




2017 2016




Gross profit 1181 1148 2329 1121 3450 987 4438 1055 1091 2146 1088 3234 m6 m6 r6












change YoY -100 -82 -91 -88 -90 08 -66 75 27 50 18 39 m20 m20 s20 s20

GPTEU (CHF) 339 308 323 296 314 254 298 282 285 283 282 283 m21 m21 s21 s21

change YoY 102 59 80 -16 47 -176 -11 -169 -75 -122 -47 -98 m22 m22 s22 s22

GP change YoY -5 -8 -3 -6 s23 s23





EBIT reported 18 (15) 09 12 05 18 24 31 27 81


PAN_ISpQ_Logistics

image1png


BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18







2017 2016




Gross profit 982 1006 1989 944 2933 924 3857 825 813 1639 815 2454 m6 m6 r6






Non-recurring items





BALANCE SHEET





PAN_BalanceSheet

image1png


CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946


CHF







Total assets 16606 16859 253 2 r9

0










Total equity 6170 5963 (207) -3 r18








CASH FLOW










Tabele PAN_Cashflow


Slide Number 2









Next EVENTs

Disclaimer

Appendix





Balance sheet

Cash flow








Free cash flow 752 (141) -119 r11







Profit YTD 092017 4839 r19








484

591

(479)

(331)

(406)

(894)

93

2946

	30-Sep-16		30-Sep-17		Change in

Cash flow before changes in working capital		1029		1075				r2 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Subtotal cash flow from operations gtgt (ltlt 2017 gtgt q_act_jan)13User Value 10749 Tsd			PY IS MANUAL

Changes in working capital		357		(477)				r3 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-7973 Tsd - ltlt (Increase) decrease receivables other current assets and unbilled forwarding services gtgt (ltlt 2017 gtgt q_act_jan)134406 Tsd - ltlt Increase (decrease) payables and accruals incl accrued cost of service gtgt (ltlt 2017 gtgt q_act_jan)13-472 Tsd - ltlt Increase (decrease) non-current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13-749 Tsd - ltlt Increase (decrease) current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-4787 Tsd (Total)

Cash from operations		1386		599				r4 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash generated from operations gtgt (ltlt 2017 gtgt q_act_jan)13User Value 5963 Tsd


Interest and income taxes paid		(292)		(331)				r6 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-136 Tsd - ltlt Interest paid gtgt (ltlt 2017 gtgt q_act_jan)13-3175 Tsd - ltlt Income taxes paid gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-3311 Tsd (Total)

Net cash from operating activities		1094		267		-76			r7 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash from operating activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value 2652 Tsd


Net cash from investing activities		(342)		(409)		20			r9 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in investing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -4063 Tsd


Free cash flow		752		(141)		-119			r11 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Free cash flow gtgt (ltlt 2017 gtgt q_act_jan)13User Value -1411 Tsd


Net cash used in financing activities		(858)		(894)		4			r13 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in financing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -8937 Tsd


Net increase (decrease) in cash and cash equivalents		(106)		(1035)				r15 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net increase (decrease) in cash and cash equivalents gtgt (ltlt 2017 gtgt q_act_jan)13User Value -10348 Tsd

Cash and cash equivalents at beginning of period		3923		3888				r16 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the beginning of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 38878 Tsd

Effect of exchange rate changes		(17)		93				r17 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Effect of exchange rate changes on cash and cash equivalents gtgt (ltlt 2017 gtgt q_act_jan)13User Value 933 Tsd

Cash and cash equivalents at end of period		3799		2946				r18 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the end of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 29463 Tsd


Reported cash and cash equivalents at 31122016			3888				r21 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the beginning of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 38878 Tsd			Reported cash and cash equivalents at 31122016			3888

Profit YTD 092017			4839				r19 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 4839 Tsd			Profit YTD 092017		3888		484

Other non-cash items (eg DampA)			591				r23 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13131565 Tsd - ltlt Depreciation of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)131616 Tsd - ltlt Amortization of intangible assets gtgt (ltlt 2017 gtgt q_act_jan)13-165 Tsd - ltlt Interest income and dividend on available-for-sale financial assets gtgt (ltlt 2017 gtgt q_act_jan)13-167 Tsd - ltlt Exchange differences gtgt (ltlt 2017 gtgt q_act_jan)13-025 Tsd - ltlt Loss (gain) on sales of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)13000 Tsd - ltlt Loss (gain) on sales of financial assets gtgt (ltlt 2017 gtgt q_act_jan)13497 Tsd - ltlt Expenses for share-based compensation plans gtgt (ltlt 2017 gtgt q_act_jan)13238 Tsd - ltlt Other non-cash (income) and expenses gtgt (ltlt 2017 gtgt q_act_jan)132351 Tsd - ltlt Income tax expenses gtgt (ltlt 2017 gtgt q_act_jan)13---------------------135910 Tsd (Total)			Other non-cash items (eg DampA)		4372		591

Changes in working capital			-4766				r24 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-7973 Tsd - ltlt (Increase) decrease receivables other current assets and unbilled forwarding services gtgt (ltlt 2017 gtgt q_act_jan)134406 Tsd - ltlt Increase (decrease) payables and accruals incl accrued cost of service gtgt (ltlt 2017 gtgt q_act_jan)13-472 Tsd - ltlt Increase (decrease) non-current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13-749 Tsd - ltlt Increase (decrease) current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-4787 Tsd (Total)			Changes in working capital		4486		477	neg

Interest and income taxes paid			-3311				r25 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-136 Tsd - ltlt Interest paid gtgt (ltlt 2017 gtgt q_act_jan)13-3175 Tsd - ltlt Income taxes paid gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-3311 Tsd (Total)			Interest and income taxes paid		4155		331	neg

Net cash from investing activities			-4085				r26 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in investing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -4063 Tsd			Net cash from investing activities		3747		409	neg

Financing activitiesdividend			-8937				r27 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in financing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -8937 Tsd			Financing activitiesdividend		2853		894	neg

Effect of exchange rate changes			933				r28 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Effect of exchange rate changes on cash and cash equivalents gtgt (ltlt 2017 gtgt q_act_jan)13User Value 933 Tsd			Effect of exchange rate changes		2853		93

Reported cash and cash equivalents at 30092017			29463				r29 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the end of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 29463 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Subtotal cash flow from operations gtgt (ltlt 2017 gtgt q_act_jan)13User Value 10749 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-7973 Tsd - ltlt (Increase) decrease receivables other current assets and unbilled forwarding services gtgt (ltlt 2017 gtgt q_act_jan)134406 Tsd - ltlt Increase (decrease) payables and accruals incl accrued cost of service gtgt (ltlt 2017 gtgt q_act_jan)13-472 Tsd - ltlt Increase (decrease) non-current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13-749 Tsd - ltlt Increase (decrease) current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-4787 Tsd (Total)	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash generated from operations gtgt (ltlt 2017 gtgt q_act_jan)13User Value 5963 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-136 Tsd - ltlt Interest paid gtgt (ltlt 2017 gtgt q_act_jan)13-3175 Tsd - ltlt Income taxes paid gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-3311 Tsd (Total)	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash from operating activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value 2652 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in investing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -4063 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Free cash flow gtgt (ltlt 2017 gtgt q_act_jan)13User Value -1411 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net cash used in financing activities gtgt (ltlt 2017 gtgt q_act_jan)13User Value -8937 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Net increase (decrease) in cash and cash equivalents gtgt (ltlt 2017 gtgt q_act_jan)13User Value -10348 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the beginning of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 38878 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Effect of exchange rate changes on cash and cash equivalents gtgt (ltlt 2017 gtgt q_act_jan)13User Value 933 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the end of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 29463 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Cash and cash equivalents at the beginning of the period gtgt (ltlt 2017 gtgt q_act_jan)13User Value 38878 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 4839 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows13131565 Tsd - ltlt Depreciation of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)131616 Tsd - ltlt Amortization of intangible assets gtgt (ltlt 2017 gtgt q_act_jan)13-165 Tsd - ltlt Interest income and dividend on available-for-sale financial assets gtgt (ltlt 2017 gtgt q_act_jan)13-167 Tsd - ltlt Exchange differences gtgt (ltlt 2017 gtgt q_act_jan)13-025 Tsd - ltlt Loss (gain) on sales of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)13000 Tsd - ltlt Loss (gain) on sales of financial assets gtgt (ltlt 2017 gtgt q_act_jan)13497 Tsd - ltlt Expenses for share-based compensation plans gtgt (ltlt 2017 gtgt q_act_jan)13238 Tsd - ltlt Other non-cash (income) and expenses gtgt (ltlt 2017 gtgt q_act_jan)132351 Tsd - ltlt Income tax expenses gtgt (ltlt 2017 gtgt q_act_jan)13---------------------135910 Tsd (Total)	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-7973 Tsd - ltlt (Increase) decrease receivables other current assets and unbilled forwarding services gtgt (ltlt 2017 gtgt q_act_jan)134406 Tsd - ltlt Increase (decrease) payables and accruals incl accrued cost of service gtgt (ltlt 2017 gtgt q_act_jan)13-472 Tsd - ltlt Increase (decrease) non-current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13-749 Tsd - ltlt Increase (decrease) current provisions and other liabilities gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-4787 Tsd (Total)	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Cash Flows1313-136 Tsd - ltlt Interest paid gtgt (ltlt 2017 gtgt q_act_jan)13-3175 Tsd - ltlt Income taxes paid gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-3311 Tsd (Total)	Reported cash and cash equivalents at 30092017	2946	3888

													484

													591

													(479)

													(331)

													(406)

													(894)

													93

													2946

	31-Dec-16		30-Sept-17		Change in

				CHF

Cash and cash equivalents		3888		2946		(942)		-24			r3 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Cash and cash equivalents gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 29463 Tsd		3888	3999		111		3

Trade receivables unbilled forwarding services		9087		9893		806		9			r4 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Trade receivables unbilled forwarding services gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 98929 Tsd		9087	8693		-394		-4

Other current assets		1025		1167		142		14			r5 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other current assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 11671 Tsd		1025	1335		31		30

Property plant and equipment		635		803		168		26			r6 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Property plant and equipment gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 8028 Tsd		635	651		16		3

Intangible assets		979		917		(62)		-6			r7 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Intangible assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 9168 Tsd		979	926		-53		-5

Other non-current assets		990		1133		143		14			r8 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other non-current assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 11586 Tsd		99	1073		83		8

Total assets		16606		16859		253		2			r9 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 168844 Tsd		166060	166780		72		0

											0

Short-term borrowings		23		21		(02)		-10			r11 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Short-term borrowings gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 208 Tsd		23	05		-18		-78

Trade payables accured cost of services		6524		7075		551		8			r12 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Trade payables accured cost of services gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 70745 Tsd		6524	620		-324		-5

Other current liabilities		2439		2254		(185)		-8			r13 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other current liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 22538 Tsd		2439	2592		153		6

Long-Term borrowings		00		20		20		na			r20 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Long-term borrowings gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 197 Tsd		0	12		12		na

Other long-term liabilities		1449		1527		78		5			r21 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other long-term liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 15270 Tsd		1449	1479		3		2

Total liabilities		10436		10896		460		4			r14 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 108956 Tsd		104360	102880		-148		-1

Share capital		24		24		(00)		-1			r15 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Share capital gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 238 Tsd		24	24		0		0

Reserves treasury shares		6057		5884		(173)		-3			r16 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Reserves treasury shares gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 59100 Tsd		6057	6285		228		4

Non-controlling interests		89		55		(34)		-38			r17 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Non-controlling interests gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 550 Tsd		89	81		-08		-9

Total equity		6170		5963		(207)		-3			r18 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 59887 Tsd		617	639		22		4

Total equity and liabilities		16606		16859		253		2			r19 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity and liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 168844 Tsd		166060	166780		72		0

KPIs		31-Dec-16		30-Jun-17


Equity Ratio		372		354					s20 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q2_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity and liabilities gtgt (ltlt June 30 2017 gtgt q_act_jan)13User Value 153472 Tsd

							PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Cash and cash equivalents gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 29463 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Trade receivables unbilled forwarding services gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 98929 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other current assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 11671 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Property plant and equipment gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 8028 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Intangible assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 9168 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other non-current assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 11586 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total assets gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 168844 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Short-term borrowings gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 208 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Trade payables accured cost of services gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 70745 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other current liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 22538 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Long-term borrowings gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 197 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Other long-term liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 15270 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 108956 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Share capital gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 238 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Reserves treasury shares gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 59100 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Non-controlling interests gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 550 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 59887 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Statement of Financial Position13Row ltlt Total equity and liabilities gtgt (ltlt September 30 2017 gtgt q_act_jan)13User Value 168844 Tsd	NWC-Intensity	18	13	mf24

DSO 3-m-rolling YTD		455		467					m22

DPO 3-m-rolling YTD		407		397					m23

2017	2016


Logistics	Q1 2016	Q2 2016	HY 2016	Q3 2016	Q3YTD 2016	Q4 2016	FY 2016	Q1 2017	Q2 2017		HY 2017		Q3 2017		Q3YTD 2017

Net forwarding revenue	1402	1613	3015	1374	4389	1321	5709	1286	1377		2663		1394		4057	m4	m4	r4 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act)13User Value 13945 Tsd	r4 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act_jan)13User Value 40573 Tsd	-00	00	(01)

Forwarding expenses	(420)	(607)	(1027)	(429)	(1456)	(397)	(1853)	(460)	(564)		(1024)		(580)		(1604)	m5	m5	r5 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_3 gtgt q_act)13User Value -5796 Tsd	r5 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_3 gtgt q_act_jan)13User Value -16035 Tsd	-00	00	00

Gross profit	982	1006	1989	944	2933	924	3857	825	813		1639		815		2454	m6	m6	r6 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_3 gtgt q_act)13User Value 8148 Tsd	r6 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_3 gtgt q_act_jan)13User Value 24537 Tsd	00	01	01

Personnel expenses	(574)	(591)	(1166)	(528)	(1694)	(519)	(2213)	(479)	(461)		(940)		(469)		(1409)	m7	m7	r7 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_3 gtgt q_act)13User Value -4692 Tsd	r7 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_3 gtgt q_act_jan)13User Value -14091 Tsd	-00	(01)	(01)

Other operating expenses	(360)	(363)	(723)	(378)	(1102)	(367)	(1469)	(298)	(298)		(596)		(298)		(894)	m8	m8	r8 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_3 gtgt q_act)13User Value -2977 Tsd	r8 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_3 gtgt q_act_jan)13User Value -8940 Tsd	00	00	(01)

EBITDA adjusted	48	52	100	38	138	37	175	48	54		103		48		151	m9	m9	r9 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_3 gtgt q_act)13User Value 479 Tsd	r9 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_3 gtgt q_act_jan)13User Value 1506 Tsd	00	00	00

Depreciation and amortization	(29)	(29)	(58)	(29)	(88)	(32)	(119)	(25)	(24)		(48)		(21)		(69)	m10	m10	r10 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_3 gtgt q_act)13User Value -208 Tsd	r10 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_3 gtgt q_act_jan)13User Value -692 Tsd	00	00	00

EBIT adjusted	18	23	41	09	50	05	56	24	31		54		27		81	m11	m11	r11 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_3 gtgt q_act)13User Value 271 Tsd	r11 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_3 gtgt q_act_jan)13User Value 815 Tsd	-00	00	01

Non-recurring items

Restructuring expenses	00	(38)	(38)	00	(38)	00	(38)	00	00		00		00		00	m13	m13	m13	m13	00	00	00


EBIT reported	18	(15)	03	09	12	05	18	24	31		54		27		81	m15	m15	r15 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_3 gtgt q_act)13User Value 271 Tsd	r15 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_3 gtgt q_act_jan)13User Value 815 Tsd


										PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act)13User Value 13945 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_3 gtgt q_act_jan)13User Value 40573 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_3 gtgt q_act)13User Value -5796 Tsd		GP Change YoY								-19	-18	-14	-16	s16	s16

2017	2016


Ocean Freight	Q1 2016	Q2 2016	HY 2016	Q3 2016	Q3YTD 2016	Q4 2016		FY 2016		Q1 2017		Q2 2017		HY 2017		Q3 2017			Q3YTD 2017

Net forwarding revenue	5338	4921	10259	4955	15214	4770		19984		4915		5172		10087		5551			15637	m4	m4	r4 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_2 gtgt q_act)13User Value 55506 Tsd	r4 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_2 gtgt q_act_jan)13User Value 156375 Tsd		00		00		00

Forwarding expenses	(4157)	(3773)	(7930)	(3834)	(11764)	(3783)		(15547)		(3860)		(4081)		(7941)		(4463)			(12404)	m5	m5	r5 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_2 gtgt q_act)13User Value -44629 Tsd	r5 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_2 gtgt q_act_jan)13User Value -124038 Tsd		-00		00		00

Gross profit	1181	1148	2329	1121	3450	987		4438		1055		1091		2146		1088			3234	m6	m6	r6 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_2 gtgt q_act)13User Value 10877 Tsd	r6 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_2 gtgt q_act_jan)13User Value 32337 Tsd		00		00		01

Personnel expenses	(791)	(752)	(1543)	(755)	(2298)	(721)		(3019)		(779)		(784)		(1564)		(788)			(2352)	m7	m7	r7 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_2 gtgt q_act)13User Value -7884 Tsd	r7 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_2 gtgt q_act_jan)13User Value -23522 Tsd		-00		00		00

Other operating expenses	(305)	(288)	(594)	(274)	(868)	(275)		(1144)		(271)		(265)		(536)		(290)			(827)	m8	m8	r8 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_2 gtgt q_act)13User Value -2905 Tsd	r8 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_2 gtgt q_act_jan)13User Value -8265 Tsd		-00		(01)		(02)

EBITDA adjusted	84	108	192	92	284	(09)		275		05		41		46		09			55	m9	m9	r9 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_2 gtgt q_act)13User Value 089 Tsd	r9 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_2 gtgt q_act_jan)13User Value 550 Tsd		-00		00		00

Depreciation and amortization	(41)	(42)	(83)	(41)	(124)	(42)		(166)		(36)		(36)		(72)		(38)			(110)	m10	m10	r10 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_2 gtgt q_act)13User Value -384 Tsd	r10 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_2 gtgt q_act_jan)13User Value -1102 Tsd		-00		00		00

EBIT adjusted	43	66	109	51	160	(51)		109		(32)		06		(26)		(29)			(55)	m11	m11	r11 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_2 gtgt q_act)13User Value -295 Tsd	r11 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_2 gtgt q_act_jan)13User Value -552 Tsd		00		00		00

in of gross profit	37	58	47	45	46	-51		25		-30		05		-12		-27			-17	m12	m12	s12	s12

Non-recurring items															00		00		00

Restructuring expenses	00	(97)	(97)	0	(97)	(19)		(115)		00		00		00		00			00	m14	m14	m14	m14		00		00		01


EBIT reported	43	(30)	13	51	63	(69)		(06)		(32)		06		(26)		(29)			(55)	m16	m16	r16 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_2 gtgt q_act)13User Value -295 Tsd	r16 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_2 gtgt q_act_jan)13User Value -552 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_2 gtgt q_act)13User Value 55506 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_2 gtgt q_act_jan)13User Value 156375 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_2 gtgt q_act)13User Value -44629 Tsd		00	00	(01)

in of gross profit	37	-26	05	45	18	-70		-01		-30		05		-12		-27			-17	m17	m17	s17	s17


Ocean Freight volumes (000 tons)	3482	3726	7208	3787	10995	3890		14885		3742		3828		7570		3856			11426	m19	m19	m19	m19		00		00		00

change YoY	-100	-82	-91	-88	-90	08		-66		75		27		50		18			39	m20	m20	s20	s20

GPTEU (CHF)	339	308	323	296	314	254		298		282		285		283		282			283	m21	m21	s21	s21

change YoY	102	59	80	-16	47	-176		-11		-169		-75		-122		-47			-98	m22	m22	s22	s22

GP change YoY							-5		-8		-3		-6			s23		s23

2017	2016


Air Freight	Q1 2016	Q2 2016	HY 2016	Q3 2016	Q3YTD 2016	Q4 2016		FY 2016		Q1 2017		Q2 2017		HY 2017		Q3 2017			Q3 YTD 2017

Net forwarding revenue	6332	6359	12691	6341	19032	7234		26267		6571		7000		13571		7389			20960	m4	m4	r4 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_1 gtgt q_act)13User Value 73890 Tsd	r4 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_1 gtgt q_act_jan)13User Value 209603 Tsd		00		00		006009999999958

Forwarding expenses	(4846)	(4800)	(9646)	(4853)	(14499)	(5816)		(20315)		(5125)		(5500)		(10625)		(5775)			(16400)	m5	m5	r5 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_1 gtgt q_act)13User Value -57751 Tsd	r5 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_1 gtgt q_act_jan)13User Value -164000 Tsd		00		00		00

Gross profit	1486	1559	3045	1489	4534	1418		5952		1447		1500		2946		1614			4560	m6	m6	r6 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_1 gtgt q_act)13User Value 16139 Tsd	r6 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Gross profit gtgt (ltlt value_1 gtgt q_act_jan)13User Value 45602 Tsd		-00		00		00

Personnel expenses	(885)	(869)	(1754)	(847)	(2600)	(873)		(3473)		(905)		(916)		(1822)		(928)			(2750)	m7	m7	r7 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_1 gtgt q_act)13User Value -9280 Tsd	r7 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Personnel expenses gtgt (ltlt value_1 gtgt q_act_jan)13User Value -27496 Tsd		-00		00		01

Other operating expenses	(371)	(359)	(730)	(318)	(1048)	(284)		(1333)		(324)		(317)		(641)		(337)			(978)	m8	m8	r8 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_1 gtgt q_act)13User Value -3367 Tsd	r8 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Other operating expenses gtgt (ltlt value_1 gtgt q_act_jan)13User Value -9776 Tsd		00		00		(01)

EBITDA adjusted	230	331	561	324	885	261		1146		218		266		484		349			833	m9	m9	r9 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_1 gtgt q_act)13User Value 3492 Tsd	r9 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt EBITDA gtgt (ltlt value_1 gtgt q_act_jan)13User Value 8330 Tsd		-00		00		00

Depreciation and amortization	(52)	(52)	(103)	(55)	(158)	(53)		(211)		(46)		(47)		(93)		(46)			(139)	m10	m10	r10 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_1 gtgt q_act)13User Value -458 Tsd	r10 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Depreciation and amortization gtgt (ltlt value_1 gtgt q_act_jan)13User Value -1387 Tsd		-00		01		01

EBIT adjusted	178	279	457	269	726	208		935		171		220		391		303			694	m11	m11	r11 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_1 gtgt q_act)13User Value 3033 Tsd	r11 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_1 gtgt q_act_jan)13User Value 6943 Tsd		00		00		01

in of gross profit	120	179	150	181	160	147		157		118		146		133		188			152	m12	m12	s12	s12

Non-recurring items															00		00		00

Restructuring expenses	00	(127)	(127)	00	(127)	00		(127)		00		00		00		00			00	m14	m14	m14	m14		00		00		00


EBIT reported	178	153	331	269	600	208		808		171		220		391		303			694	m16	m16	r16 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_1 gtgt q_act)13User Value 3033 Tsd	r16 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (EBIT) gtgt (ltlt value_1 gtgt q_act_jan)13User Value 6943 Tsd	PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_1 gtgt q_act)13User Value 73890 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Net forwarding revenue gtgt (ltlt value_1 gtgt q_act_jan)13User Value 209603 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Forwarding services from third parties gtgt (ltlt value_1 gtgt q_act)13User Value -57751 Tsd		00	00	00

in of gross profit	120	98	109	181	132	147		136		118		146		133		188			152	m17	m17	s17	s17


Air Freight volumes (000 tons)	2161	2251	4412	2278	6690	2524		9214		2332		2399		4731		2489			7220	m19	m19	m19	m19		00		00		00

change YoY	54	111	82	99	88	141		102		79		66		72		93			79	m20	m20	s20	s20

GPton (CHF)	688	693	690	653	678	562		646		620		625		623		648			632	m21	m21	s21	s21

change YoY	-47	-36	-41	-73	-52	-140		-75		-98		-97		-98		-08			-68	m22	m22	s22	s22

GP change YoY							-4		-3		8		1			s23		s23

2017		2016


Group		Q1 2016		Q2 2016		HY 2016	Q3 2016	Q3YTD 2016	Q4 2016	FY 2016		Q1 2017		Q2 2017		HY 2017			Q3 2017			Q3YTD 2017

Net forwarding revenue		13072		12894		25965	12670	38635	13325	51960		12772		13549		26321			14334			40655		r4 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Net forwarding revenue gtgt (ltlt 2017 gtgt q_act)13User Value 1433411124 Tsd		r4 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Net forwarding revenue gtgt (ltlt 2017 gtgt q_act_jan)13User Value 4065500417 Tsd	-00	-01	-01

Forwarding expenses		(9423)		(9180)		(18602)	(9116)	(27718)	(9996)	(37714)		(9445)		(10145)		(19590)			(10818)			(30407)		r5 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Forwarding services from third parties gtgt (ltlt 2017 gtgt q_act)13User Value -1081765298 Tsd		r5 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Forwarding services from third parties gtgt (ltlt 2017 gtgt q_act_jan)13User Value -3040736424 Tsd	00	01	01

Gross profit		3649		3714		7363	3554	10917	3329	14246		3327		3404		6731			3516			10248		r6 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act)13User Value 351645826 Tsd		r6 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 1024763993 Tsd	00	00	00

Personnel expenses		(2250)		(2213)		(4463)	(2129)	(6592)	(2113)	(8705)		(2164)		(2162)		(4326)			(2186)			(6511)		r7 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Personnel expenses gtgt (ltlt 2017 gtgt q_act)13User Value -218561825 Tsd		r7 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Personnel expenses gtgt (ltlt 2017 gtgt q_act_jan)13User Value -651090060 Tsd	00	00	00

Other operating expenses		(1037)		(1011)		(2047)	(971)	(3018)	(927)	(3945)		(893)		(880)		(1773)			(925)			(2698)		r8 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Other operating expenses gtgt (ltlt 2017 gtgt q_act)13User Value -92494218 Tsd		r8 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Other operating expenses gtgt (ltlt 2017 gtgt q_act_jan)13User Value -269813050 Tsd	00	01	01

EBITDA adjusted		362		491		853	454	1307	289	1596		271		362		633			406			1039		r9 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt EBITDA gtgt (ltlt 2017 gtgt q_act)13User Value 40589783 Tsd		r9 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt EBITDA gtgt (ltlt 2017 gtgt q_act_jan)13User Value 103860882 Tsd	-00	00	00

Depreciation of property plant and equip		(62)		(62)		(125)	(62)	(187)	(71)	(258)		(53)		(54)		(107)			(50)			(156)		r10 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Depreciation of property plant and equipment gtgt (ltlt 2017 gtgt q_act)13User Value -4981553 Tsd		r10 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Depreciation of property plant and equipment gtgt (ltlt 2017 gtgt q_act_jan)13User Value -15648388 Tsd	00	-01	-01

Amortization of intangible assets		(60)		(60)		(120)	(63)	(183)	(56)	(239)		(54)		(52)		(106)			(55)			(162)		r11 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Amortization of intangible assets gtgt (ltlt 2017 gtgt q_act)13User Value -5514918 Tsd		r11 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Amortization of intangible assets gtgt (ltlt 2017 gtgt q_act_jan)13User Value -16157763 Tsd	-00	00	00

EBIT adjusted		240		368		608	329	936	163	1099		164		256		420			301			721		r12 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act)13User Value 30093312 Tsd		r12 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act_jan)13User Value 72054731 Tsd	-00	00	-01

in of gross profit		66		99		83	92	86	49	77		49		75		62			86			70		s13		s13

Non-recurring items																00		00		00

Restructuring expenses		00		(261)		(261)	00	(261)	(19)	(280)		00		00		00			00			00		r15 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_act)13User Value 0000000 Tsd		r15 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_act_jan)13User Value 0000000 Tsd	00	00	00


EBIT reported		240		107		347	329	675	144	820		164		256		420			301			721		s17		s17	-00	00	00

in of gross profit		66		29		47	92	62	43	58		49		75		62			86			70		s18		s18	-01	-00	-02

Financial result		(09)		07		(02)	(04)	(06)	02	(04)		02		01		03			(04)			(02)		r19 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13130939883 Tsd - ltlt Finance income gtgt (ltlt 2017 gtgt q_act)13-1343957 Tsd - ltlt Finance costs gtgt (ltlt 2017 gtgt q_act)13---------------------13-0404074 Tsd (Total)		r19 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13133163726 Tsd - ltlt Finance income gtgt (ltlt 2017 gtgt q_act_jan)13-3315684 Tsd - ltlt Finance costs gtgt (ltlt 2017 gtgt q_act_jan)13---------------------13-0151958 Tsd (Total)	-00	00	00

Earnings before taxes (EBT)		231		114		345	325	670	146	816		165		257		422			297			719		r20 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit before income tax (EBT) gtgt (ltlt 2017 gtgt q_act)13User Value 29689237 Tsd		r20 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit before income tax (EBT) gtgt (ltlt 2017 gtgt q_act_jan)13User Value 71902773 Tsd	00	00	00

Income tax expenses		(58)		(69)		(126)	(79)	(205)	(88)	(293)		(42)		(81)		(123)			(112)			(235)		r21 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Income tax expenses gtgt (ltlt 2017 gtgt q_act)13User Value -8638414 Tsd		r21 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Income tax expenses gtgt (ltlt 2017 gtgt q_act_jan)13User Value -20922552 Tsd	00	01	01

of EBT		250		602		367	242	306	601	359		252		316		291			378			327		s22		s22

Profit		173		45		218	246	465	58	523		124		176		299			185			484		r23 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act)13User Value 21050824 Tsd		r23 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 50980221 Tsd	-00	00	01

Earnings per share		075		021		096	106	201	027	229		054		075		129			079			208		s24 PAC Serova Elena (External) Referenced Value (value_1_PQACTJAN02)1313Document Q2_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Basic gtgt (ltlt 2017 gtgt q_act_jan)13User Value 0000540 Tsd		s24 PAC Serova Elena (External) Referenced Value (value_1_PQACTJAN02)1313Document Q2_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Basic gtgt (ltlt 2017 gtgt q_act_jan)13User Value 0000540 Tsd	00	00	00

			0		0		46460419259			0		0		0		0			m25		m25		00		00

Earnings per share 1000											0000788		0002078		rf28 PAC Hamon Pierrick Referenced Value (value_1_PQACT02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Basic gtgt (ltlt 2017 gtgt q_act)13User Value 0000898 Tsd		rf28 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Basic gtgt (ltlt 2017 gtgt q_act_jan)13User Value 0002188 Tsd

Total Operating Expenses											(3111)		(9209)		s25		s25

OOE YoY

	042

	2016					2017

YoY Growth		Q1		Q2	Q3		Q4	Q1

Volume (market)		-4		-2	2		8	6

Volume (Panalpina)		5		11	10		14	8

GPton		-5		-4	-7		-14	-10

GPton		0		7	2		-2	-3

	2016		2017

Gross Profit EBIT		Q1		Q1

Gross Profit		1486		1447

EBIT		178		171

EBITGP ()		120		118

Q3	2017	2016

			Data for Charts

Gross profit				Gross profit

Q3	102476	10917		r4 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 1024763993 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_prior_jan)13User Value 1091695000 Tsd		2016 HYQ3		7363		3554

Q3 alone	352	355		r5 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act)13User Value 351645826 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_prior)13User Value 355406000 Tsd		2017 HYQ3		6731		3517		-61

HY alone	673	736		s6


EBIT				EBIT

Q3	7205	9363		r8 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act_jan)13User Value 72054731 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (Segment EBIT) adjusted gtgt (ltlt value_4 gtgt q_prior_jan)13User Value 9363 Tsd		2016 HYQ3		608		329

Q3 alone	3009	3286		r10 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act)13User Value 30093312 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement131332856500 Tsd - ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_prior)130000000 Tsd - ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_prior)13---------------------1332856500 Tsd (Total)		2017 HYQ3		420		301		-230

HY alone	4196	6077		s11



Profit				Profit

Q3	4839	7256		r12 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 48390567 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13134646 Tsd - ltlt Profit gtgt (ltlt value_4 gtgt q_prior_jan)132610 Tsd - ltlt Restructuring expenses gtgt (ltlt value_4 gtgt q_prior_jan)13---------------------137256 Tsd (Total)		2016 HYQ3		479		246

Q3 alone	1846	2462		r15 PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Profit gtgt (ltlt 2017 gtgt q_act)13User Value 18461169 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement131324623919 Tsd - ltlt Profit gtgt (ltlt 2017 gtgt q_prior)130000000 Tsd - ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_prior)13---------------------1324623919 Tsd (Total)	PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act_jan)13User Value 1024763993 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_prior_jan)13User Value 1091695000 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_act)13User Value 351645826 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Gross profit gtgt (ltlt 2017 gtgt q_prior)13User Value 355406000 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act_jan)13User Value 72054731 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Products quater and year to date13Row ltlt Operating result (Segment EBIT) adjusted gtgt (ltlt value_4 gtgt q_prior_jan)13User Value 9363 Tsd		PAC Hamon Pierrick Referenced Value (value_1_PQACTJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement13Row ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_act)13User Value 30093312 Tsd1313----------------------------------------------------------------------------------------1313Referenced Value (value_1_PQPRIORJAN02)1313Document Q3_2017_Quarter_Report13Chapter Consolidated Income Statement131332856500 Tsd - ltlt Operating result (EBIT) gtgt (ltlt 2017 gtgt q_prior)130000000 Tsd - ltlt Restructuring expenses gtgt (ltlt 2017 gtgt q_prior)13---------------------1332856500 Tsd (Total)		2017 HYQ3	299	185

HY alone	2993	4794		s16						-333

q3 results 2017 - panalpina · by sap tm system roll-out. modest volume growth in ocean freight...

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SNVeryHiddenParameterSheet

Sheet1

charts

SNVeryHiddenParameterSheet

Sheet1

charts

Chart1

SNVeryHiddenParameterSheet

Sheet1

charts

Chart2

SNVeryHiddenParameterSheet

Sheet1

charts

SNVeryHiddenParameterSheet

Table

charts

SNVeryHiddenParameterSheet

Table

charts

Chart1

SNVeryHiddenParameterSheet

Table

charts

Chart2

SNVeryHiddenParameterSheet

Table

charts

SNVeryHiddenParameterSheet

PAN_ISpQ_Group

image1png

SNVeryHiddenParameterSheet

PAN_ISpQ_AirFreight

image1png

SNVeryHiddenParameterSheet

PAN_ISpQ_OceanFreight

image1png

SNVeryHiddenParameterSheet

PAN_ISpQ_Logistics

image1png

SNVeryHiddenParameterSheet

PAN_BalanceSheet

image1png

SNVeryHiddenParameterSheet

Tabele PAN_Cashflow

Chart1

SNVeryHiddenParameterSheet

Charts

NOT IN USE

Chart2

SNVeryHiddenParameterSheet

Charts