time:matters reports €114.8 million revenue in FY2019
time:matters aims to focus on dealing with the global Covid-19 pandemic, expansion and digitalization in 2020.
time:matters, logistics specialist for high speed shipments, ended the financial year 2019 with €114.8 million in revenue. This was its second-best business result to date within a challenging market environment associated with the slowdown in the global economy.
In 2019, time:matters focused on building its international activities and continuously invested in the expansion of the network, the digitalization of core business and solutions for sustainable air transport. The company’s global Sameday Air network grew to include a total of 11 stations in a number of countries, including China, Japan, Singapore and Thailand.
The company’s arm time:matters International Freight Forwarding based in Shanghai was founded specifically for the Chinese market. 16 stations in Africa were also added to the Global Express Airfreight network. time:matters has been flying to these destinations via its new hub in Brussels since August. The services portfolio was also expanded in 2019 to include the global express transport of dangerous goods.
The main growth sectors for time:matters in 2019 were in particular the medtech, life science, aviation and aerospace, and high-tech and semicon segments as well as the airmates On Board Courier platform, with which time:matters has been setting industry standards since 2017. It was able to double the number of accompanied shipments in 2019. Cell and Gene Therapy Logistics is another growth area in which time:matters is investing.
The company’s continued focus on sustainable business processes was another milestone in 2019, particularly in respect of airmates, which became the world’s first carbon-neutral onboard courier service within the context of a long-term offsetting initiative with myclimate, a renowned non-profit organisation.
“We took the right decision in 2019 to continue investing in expanding the global network, in spite of difficult global business conditions, and our customers have rewarded us for this,” explained Alexander Kohnen, CEO of time:matters. “2020 brings further challenges with the COVID-19 outbreak. As an emergency logistics provider, we are well positioned despite the currently very dynamic changes, as we have already set up comprehensive measures at an early stage on that we are constantly reviewing and adapting according to the situation. The last few weeks in particular have shown that we can still offer our customers the right transport solutions, tailored to their needs, in spite of the dynamics of the current situation and the limited air freight capacities – something they extremely appreciate. This is made possible by our expertise as well as our very broad partner structure of more than 500 global partners and airlines. Depending on how the pandemic progresses, we plan to further expand our business this year in Europe, Asia and the USA.”
The duration and dynamics of the current pandemic will determine the extent to which the company presses ahead with this year’s implementation of the company-wide digitalisation strategy, which includes both customer-centric development of the products and services on offer as well as automated booking capabilities for the service portfolio.