Logistics firm Europa reports record turnover and triples profits

The group, which has sites in Sheffield and Wakefield, said the figure for the 12 months to the end of December 2021, jumped from £3.6m at the end of 2020 after it simplified its operating model.

Meanwhile, it achieved a record £276m turnover for the 2021 financial year.

For the 12 months to August 2022, the company recorded a turnover of £316m.

Europa’s Sheffield site, at Broadfield Close, is home to a 10-strong team.

In Wakefield, a 10-strong team also works out of Navigation Court in Calder Park.

Both operate under the firm’s European Road freight division and the group said the divisions were ‘pivotal’ in delivering the strong results.

Europa said it navigated the tough economic climate impacted by Brexit and the global pandemic by developing a new product – Europa Flow. The group said its new customs product helped customers to continue their operational activity on the continent by removing lengthy fee and paperwork barriers that would otherwise hold goods up in transit.

It is managed via Europa Road, which developed plans to expand its network of UK domestic depots to reach more customers.

As global supply chain vulnerabilities were exposed during the pandemic, Europa said it simplified its own operating model whilst supporting customers and teams to do the same.

It uses specialist third party logistics warehouses, located in Dartford, Corby and Birmingham.

During 2021, Europa Air and Sea also contributed to the robust financial performance. As economies opened up, and global air and sea freight forwarding grew by 14.9 per cent and 6.6 per cent respectively, the division also grew.

In early 2022, new air and sea offices opened in Shanghai and Dubai to capitalise on opportunities presented by the world’s largest container port and fastest growing e-commerce market in the Middle East and North Africa.

Rob Jones, finance director at Europa Worldwide Group, said: “We’re delighted with our latest results, and would like to thank everyone at Europa for their immense contribution in delivering these.

"The group has demonstrated flexibility in helping its teams and customers adapt to an evolving marketplace and sustain high levels of overall performance.

“2021 was a year of consolidation for Europa, as we built on our strengths and developed bold new plans to drive forward growth across all three divisions.

"It is an incredibly exciting time for the business, which maintains huge momentum, allowing us to accelerate our strategy to drive out complexity and deliver an even better service for our customers.”

Andrew Baxter, chief executive, added: “Our open and transparent approach has been key in adapting and optimising supply chains to unlock growth potential along the way.”