April 2018
MANILA, PHILIPPINES: LBC Express Holdings, Inc. recently disclosed to the SEC & PSE its audited financial statements for 2017, with notable results. Revenues of LBCEH increased 15% to PhP 10,020,116 billion in 2017 from PhP 8,695,403 billion in 2016. Gross profit (service revenues less cost of services) also increased to PhP 3,414,084,213 billion from PhP 3,104,889,533 billion in 2016. LBC’s operating company, LBC Express, Inc., likewise registered growth in Net Income after tax, increasing 7% in 2017 to PhP 984,921,653 million from PhP 920,249,493 in 2016.
Logistics revenues continue to contribute the lion share to the company’s coffers, with 86% contribution at PhP 8,981,212 billion, a 19% growth from the previous year. LBC Logistics revenue can be further segmented into its Retail and Corporate businesses, both having double-digit growth in 2017. Retail Logistics grew 16% to PhP 5,751,655,749 billion from PhP 4,964,000,749 in 2016; while Corporate Logistics increased 26% to PhP 3,229,513,847 from PhP 2,557,865,998 in 2016.
Air Cargo revenues grows 24%
The Philippine Civil Aeronautics Board (CAB) released its H1 2017 report citing LBC Express, Inc. holding 34% market share of domestic airfreight cargo forwarding, with a total of 10,075 tonnes forwarded for the first half of the year alone. The company registered total 2017 revenues from Air Cargo alone, however, earned PhP 5,296,098 billion for the company, a 24% increase from the previous year’s PhP 4,269,670 billion.
Sea Cargo revenues have likewise increased, bringing in PhP 1,124,277 billion to the company’s revenues—a 12% increase from the previous year’s PhP 1,008,134 billion. For international inbound cargo, this translates to 5,432 TEUs (twenty-foot equivalent) of incoming sea cargo from the Middle East, Asia-Pacific, Europe, and North America in 2017—predominantly Balikbayan Boxes sent by Overseas Filipinos to their families in the Philippines. Total Sea Cargo TEUs for the company (International and Domestic) reached 8,449 in 2017, up 4% from 8,138 in 2016. Revenues from LBC’s Courier business also increased by 11% in 2017, to PhP 2,006,247 billion from PhP 1,803, 626 billion.
In the Philippines, 57 (net) new branches were opened across Metro Manila, Luzon, Visayas and Mindanao– bringing the total number of wholly-owned branches to 1,321 by end 2017. This branch expansion continues to provide volume growth while also extending the brand’s reach and footprint. Revenue from Philippines retail branches increased 12% in 2017, contributing a total of PhP 645 million to total revenues of the company.
In the Philippines, 57 (net) new branches were opened across Metro Manila, Luzon, Visayas and Mindanao– bringing the total number of wholly-owned branches to 1,321 by end 2017. This branch expansion continues to provide volume growth while also extending the brand’s reach and footprint. Revenue from Philippines retail branches increased 12% in 2017, contributing a total of PhP 645 million to total revenues of the company.
About LBC
LBC is the Philippines’ market leader in retail and corporate courier & cargo, money remittance, and logistics services. With a growing network of over 6,400 branches, hubs & warehouses, partners, and agents in over 30 countries, LBC is committed to moving lives, businesses, and communities and delivering smiles around the world. Listed in the Philippine Stock Exchange through LBC Express Holdings, Inc., LBC aims to deliver value to all of its stakeholders, as it has for over 60 years. Founded in 1945 as a brokerage and air cargo agent, LBC pioneered time-sensitive cargo delivery and 24-hour door-to-door delivery in the Philippines. Today, it is the most trusted logistics brand of the Global Filipino. LBC can move it for you: visit www.LBCexpress.com, or call telephone +632 8585 999 (Metro Manila), 1 800 10 8585 999 (Provincial), +632 9086 522 (Solutions) and follow LBCExpress (Facebook and Twitter). For corporate information, visit www.LBCExpressHoldings.com
