People Business, modern technology and a solid platform are still keywords for ambitious FREJA

The transport & logistics group FREJA Transport & Logistics Holding A/S raises the result for 2019. Once again, the subsidiaries in Norway and Finland are the ones to deliver results above market level. Again in 2019 the Swedish subsidiary disappoints, even though the trend for the last six months was on the rise. 2019 was “year two” after the acquisition of Transcargo. The Danish part of Transcargo is 100 % implemented and merged into the Danish FREJA, and the result in the Danish subsidiary meets the expectations for 2019. In 2020 focus is still on the integration and construction of the Polish subsidiary. The trucking part operates as an independent company and FREJA invests in an expansion and upgrade of the fleet into environmental friendly units. The new ultramodern transport HUB on a 75,000 m2 site in Szczecin will be ready in the beginning of June 2020, and the implementation of FREJA’s it-platform has progressed as planned, so FREJA has good reason to believe in continued growth and is optimistic.

The FREJA Group continues stabile development and is profitable in 2019
FREJA Transport & Logistics Holding A/S has a growth in turnover from 2018 to 2019 of 7.1 %. The total turnover in 2019 amounts to DKK 3.34 billion.

EBIT amounts to DKK 73.1 mill in 2019 compared to DKK 51.4 mill in 2018. The result before tax amounts to DKK 53.7 mill in 2019 compared to 38.1 mill in 2018. The result in 2018 was influenced negatively by the integration of Transcargo, and 2019 has been influenced negatively by costs for restructuring of the Swedish subsidiary.

Group equity has increased from DKK 285.5 mill in 2018 to DKK 294.2 mill in 2019. As a consequence of the transition to IFRS 16, the solvency ratio drops from 29.6 % to 18.4 % the end of 2019.

We have seen a stable and good development in Denmark, China, Norway and Finland.

Sweden did not live up to the expectations for 2019, and many efforts have been made, especially in 2HY by our dedicated Swedish organization with support from Group Management. These efforts have resulted in substantial improvements. Q1 2020 has shown a positive trend and budgets have been met, however the Swedish subsidiary still estimates a minor deficit for 2020 and the parent company has added the necessary strengthening of the capital.

The newly acquired subsidiary in Poland has shown an excellent development. In the beginning of 2020 Tomasz Cegielski started as new country manager and the potential for continued growth is significant.

In spite of massive investments in new technologies, transport is still a People Business
For more than 10 years, FREJA has invested massively in the development of our it-platform, and 2019 is no exception. We invest partly to optimize our own business, partly to become more competitive, but also to give our customers advantages in the value chain. The launch of MyFREJA - and particularly the associated, extra services such as consultancy services - have been a success and we continue to develop our it-platform to benefit our customers. It is still our ambition that the product will provide significant, financial advantages to all parties involved and thereby help increase FREJA’s position in the European transport business.

“Our focus is to continue to develop long-term relations with customers as well as suppliers. In spite of our large focus on efficiency improvements, we are also aware that people are still the most important resource in the cooperation – transport is a People Business. The key-words for us in a cooperation are transparency, trust and credibility. We have always managed our business on the basis of strong values. We work on a daily basis to make a difference for our customers and make sure that together we will become a little bit better every day”, says Jørgen Hansen founder of and Chairman of the Board in the FREJA Group.

Readiness, humility and continued ambitions set the agenda in the always ambitious FREJA Group
“A reasonable annual result for 2019, and we are both ready and have the ambition to show that we can do better in future. In 2019 it has been the consolidation and continuous integration of Transcargo which has had our focus. In 2020 it will be especially our new positioning on the Polish market together with the reconstruction of the Swedish market, which will have our largest focus – however it will not influence our development in China, Norway, Finland and Denmark”, says Group CEO Ulrik Rasmussen.

COVID-19
Naturally, COVID-19 has an influence on our everyday life at the moment, and on some markets we have seen a relatively large cutback of activities. However, these are partly compensated for on other markets and segments, where we have seen increased activities.

However, we are convinced that our business model and qualified organization is ready to continue to develop FREJA in a positive direction – also during this extraordinary situation – so FREJA will stand stronger when we have overcome the crisis.

“The development of Q1 2020 shows that we are on the right track. We have a solid platform and we are ready to reap the benefits of the past years’ massive investments. And should there be further consolidation possibilities, we are also ready to take a look at that,” Jørgen Hansen concludes.

For further information please contact Group CEO Ulrik Rasmussen or Chairman of the Board Jørgen Hansen.

Link annual report 2019

FREJA is pleased to announce that Anna Jasiak has officially been appointed the new Managing Director of FREJA in Poland. Not only does she have extensive experience and knowledge from the industry, but she has also been with FREJA for many years and comes from a position as CFO in Poland.

“We are very excited that Anna accepted our proposal to become the new Managing Director in Poland. We need someone who knows the industry and our company, and Anna does that. She was a natural choice for this position, and we look forward to developing FREJA in Poland under her lead”, says Torben Mortensen, Chairman of the board in FREJA Poland.

[caption id="attachment_50486" align="aligncenter" width="400"] FREJA's new Managing Director in Poland, Anna Jasiak.[/caption]

About being appointed as FREJA Poland’s new Managing Director, Anna Jasiak says: “I am proud to be continuing my work in FREJA with all my talented colleagues, and I look forward to developing our business areas in Poland. I want to thank FREJA’s top management for trusting me in this new position”.

Anna Jasiak took on the new role on February 1st, 2023.

Read in Danish

Dear reader

Welcome to FREJA’s newsletter, in which we want to share with you what is happening in our part of the transport and logistics world.

At the moment, we experience an increasing economic growth in society in general and an increased need for transportation services. Naturally, we find this to be good news, but we are also faced with some challenges. Unfortunately, new requirements and legislation, including special Danish rules for cabotage driving, means that there is a general lack of capacity, which makes it challenging to carry out customers' needs for transportation. We constantly try to launch new initiatives to attract and retain hauliers in order for us to comply with the current and future demands.

FREJA works actively with CSR matters. Being a transport & logistics company, we believe that we have a special responsibility to create a greener everyday life. We have recently presented our 2020 CSR report, and you can read more about this in our newsletter.

The golf event “Made in HimmerLand presented by FREJA” was held under unusual circumstances this year because of COVID-19 restrictions, but in spite of that, we had four fantastic days in Himmerland the last weekend of May.

In connection with the merger between FREJA and SDK, three colleagues from FREJA’s sales department have moved into the same office as SDK at their location in Esbjerg. Meet them in this newsletter.

I hope you will enjoy reading this newsletter, and I wish all customers and partners a splendid summer.

The introduction of new Danish cabotage regulations has caused a shortage of capacity

Cabotage is a term used for domestic transports carried out by a means of transportation belonging to another country. Cabotage has been used for many years, but in 2021, new regulations were introduced in Denmark. The new regulations require that international drivers must be paid according to Danish salary standards. Moreover, the driver must present a valid employment contract and payslips if stopped at a checkpoint. Furthermore, all foreign hauliers must sign up online in a Danish register, and prior to any transport, the foreign haulier must list the following: date of the transport, the truck’s registration number, and personal data of the driver.

Since April 1^st, 2021, the Danish authorities have started to issue fines for drivers and hauliers who do not comply with the regulations 100% or make a mistake in the online registration. Unfortunately, this has imposed increased administrative burdens on the foreign hauliers and given them higher costs which they pass on to the forwarding company. In other cases, the foreign haulier chooses not to do cabotage driving in Denmark, and as a consequence, we need more Danish trucks to handle the transportations.

However, the capacity of Danish hauliers and trucks is not sufficient to meet the demand, and therefore, we experience an increasing capacity shortage.

We find it frustrating that rigid regulations and strict requirements have put us in a situation where we cannot fulfill our customers’ need for transportation. The overall desire to regulate the market for road transportations in the EU have been accounted for in the implementation of the EU mobility package, but unfortunately, the Danish special rules are an obstacle.

We do all we can to keep on attracting and holding on to hauliers while simultaneously using our trade association to point out the issues to the authorities.

We apologize for the development.

FREJA strengthens local relations in Esbjerg with a new office

In connection with the merger between FREJA Transport & Logistics Holding A/S and SDK A/S, three colleagues from FREJA have moved into the same office as SDK at the port of Esbjerg. Here, you can also find known Esbjerg companies within shipping and ship chartering such as Niels Winther Maritime and Juhl & Ehrhorn, which are also owned by SDK. The location at the port is the focal point for the city's business community. In close collaboration with the other SDK companies, the goal is to create new synergies to offer complete solutions within transport and logistics.

Kenneth Christensen, Senior Account Manager, Henrik Miche Pedersen, Senior Business Development Manager East & Central Europe, and Kasper Hansen, Sales Representative, have moved into the new FREJA office in Esbjerg. Together, they have more than 50 years of experience in the transport and logistics industry, and it is a deliberate choice that they will represent FREJA in Esbjerg. They have all settled down in Esbjerg and are active in the local community, especially the local sports community. Henrik is a member of the local cycling club 'Team Motion', whereas Kenneth and Kasper play golf in Esbjerg Golf Club. They are happy to develop FREJA in Esbjerg, and they believe that the location is the right choice.

“With the new office, we form a development department for FREJA, where the purpose is to get closer to our current customers and increase our presence for new customers. We are available as the customers' local partner on national and international transport and logistics solutions at competitive prices. We experience that the people of Esbjerg appreciate the personal contact and are very supportive locally. That is why we are pleased that FREJA has opened a base in Esbjerg so that we can be even more accessible to customers and offer them one-stop shopping within transport and logistics”, says Kenneth Christensen.

While many of the larger transport and logistics companies have moved out of the city, FREJA is instead looking forward to working from the new location, as Esbjerg offers many good business opportunities. The city is in the process of developing strongly commercial-wise, especially in the field of renewable energy.

“There are many exciting companies, where we see a good match with FREJA and the competencies we can offer. We hope that we can create new customer relationships and good partnerships so that together we can contribute to each other's development and in addition make Esbjerg even more attractive as a business city for companies”, says Kasper Hansen.

With more than 35 years of experience in transport and logistics, FREJA can offer professional advice and sparring as well as create solutions based on the customer's needs.

“Over the years, FREJA has invested a lot in IT and technology. That means that we can offer many different digital services including web booking, track & trace, environmental reporting, and our very own Business Intelligence platform, MyFREJA, where our customers have the opportunity to gain valuable insights into their transport activities. In addition to this, we are also experts in IT integrations and offer advanced integration options tailored to our customers. We have more than 25 offices spread across Denmark, Norway, Sweden, Finland, Poland, and China as well as a large network of skilled agents in Europe and the rest of the world. We also have a large fleet of vehicles that can cover every customer's needs - large and small”, Henrik Miche Pedersen says.

FREJA looks forward to establishing close customer relationships in Esbjerg, and we aim to create an even stronger foundation in Southwest Jutland as the customers' preferred full-service provider within road, sea, and air.

If you want to know more about how FREJA can help you, feel free to reach out to Kenneth, Henrik, or Kasper.

FREJA Transport & Logistics A/S
Dagvej 3
DK-6700 Esbjerg

FREJA presents CSR report 2020

Social responsibility and sustainability are close to our heart, and we at FREJA are pleased to present the latest CSR report for the year 2020. This report marks the fourth CSR report for FREJA since 2017. In the report, we unveil the initiatives we have worked on in 2020 and the goals we have set to create a better environment and a more sustainable planet.

As a transport and logistics company, we believe that we have a responsibility when it comes to ensuring a greener environment. Our industry is crucial for society, as we contribute to the transport of necessary goods such as medicines, food, and hygiene products, but the effect of this is that the transport sector is responsible for 24% of direct CO2 emissions from fuel combustion. Our critical role in society has been particularly crucial during the pandemic. We have worked hard to keep the supply chains going around the world, and this could not be done without all our professional and dedicated employees on the roads and in the offices.

Despite the pandemic, we have maintained our focus on CSR and followed the planned strategy, as we do not believe that we can postpone our actions and efforts in this area. Since 2018, we have structured our work with CSR according to the UN’s Sustainable Development Goals (SDGs). Every year, we assess which areas we want to focus on, and in the year 2020, we worked with the following three SDGs:

• 3) Good health and well-being
• 8) Decent work and economic growth
• 12) Responsible consumption and production

Orderliness and responsibility are some of the cornerstones of FREJA, and therefore it is important for us to create a healthy working environment and good working conditions for our employees and drivers. This is also reflected in the SDGs that we have chosen to work with.

In the latest report, you can, amongst other things, read about what we do to create a good working environment, why rail freight is an environmentally friendly alternative to road transport, and how we have contributed to the fight against COVID-19.

You can read FREJA’s CSR report 2020 here or watch the video to get an insight into some of our CSR initiatives.

World-class golf in Himmerland, Denmark

This year, the golf tournament “Made in HimmerLand presented by FREJA” was held under unusual circumstances. Usually, the four-day event attracts close to 80,000 spectator, but last year, the tournament was canceled due to corona, and this year it was in a very limited set-up.

“Made in HimmerLand presented by FREJA” is a part of the PGA European Tour, and as the name indicates, FREJA was one of the main sponsors when the event came to Denmark in May. As the presenting sponsor, we could invite very few guests to see the event in Himmerland, and we took all necessary precautions to secure a safe environment.

In spite of limits and restrictions, we had four exciting and eventful days. The best Dane was Niklas Nørgaard Møller, who finished in a shared 8^th place. The winner was the defending champion Bernd Wiesberger from Austria. Bernd Wiesberger won by a total of 21 under par and secured himself important points at the world rankings, as well as the first price of almost DKK 2m.

FREJA wants to thank the guests who visited our tent. We are sorry that we could not invite more customers to attend this year. Now, we can only look forward to 2022 and hope that this will be a year with lots of festivities and spectators along the course.

Here are some pictures from the tournament (click on the pictures to see them in full size)

FREJA is proud to announce that we in Denmark have extended our GMP permit to include EU release of medicines produced in third countries, i.e. outside of Europe. The EU release is a requirement before medicines can be sold on the European market.

[caption id="attachment_18481" align="alignright" width="225"] Kiki Baagøe Andersen - QA Manager, QP, RP in FREJA[/caption]

The permit means that our customers can send medicines directly from third countries to FREJA, after which FREJA's QP (Qualified Person), Kiki Baagøe Andersen, will perform a Batch certification. Prior to the release of the products, FREJA's QP ensures that the products are analyzed in the EU according to current regulations. After this, FREJA will handle the delivery of the products to wholesalers, hospitals, or named doctors working on clinical trials. For you as a customer, this means that you do not need to hire an external QP consultant to perform the Batch certification, meaning you save time and money.

“We have been working on getting the permit since March, and we are incredibly proud that we can now offer this service. We are constantly looking for new ways in which we can create extra value for our customers, and we are confident that this new service will benefit our customers”, Marina Steensen, Group Healthcare Logistics Director, Denmark, says.

The permit applies to all non-sterile human and veterinary medicinal products, as well as non-sterile medicinal products for clinical trials for both human and veterinary products.

If you want to know more, please feel free to contact Marina Steensen or call your local contact person at FREJA.

See our GMP permit here

On the occasion of FREJA’s birthday on the 1st of April, 2020, FREJA’s founder, Jørgen Hansen, reflects on the past 35 years. Jørgen says:

“On the day of FREJA’s 35th birthday, and in the middle of a worldwide crisis, which has not been seen before, it is obvious to let your thoughts wander back in time.

Everything is relative, but when FREJA was in the making, we were also in the middle of a crisis. At that time, the Danish government had just used an intervention to end a lockout/strike situation which had been going on from the 24th of March to the 1st of April, 1985.

But just as FREJA got started, we were faced with harbor strikes in Sweden. This made it impossible for us to sail directly from Denmark to Sweden, and we were forced to go via Norway. Being a new player in the market, we fully depended on the personal relations we had with the shipping lines. We received a lot of help back then after a very difficult and challenging start and this has not been forgotten now 35 years later. Then, as well as now, we learned that strong relations and orderliness are crucial for success.

We went through a challenging time in the early nineties, as the Swedish currency suddenly devalued by more than 20%. Back then, Sweden was a very big market for FREJA and the fact that the balance in our favor had suddenly decreased by more than 20%, hurt our contribution ratio. Furthermore, we had intense discussions with our Swedish customers about an adjustment of the prices.

In the beginning of the nineties, the Nordic postal war began and especially the Finish Itella and Norske Post (Bring) completed many acquisitions. At that time, FREJA lost many of our partners, and we were compelled to open own offices and make several acquisitions ourselves during the years 2003 – 2008. For example, FREJA built a new location in Taastrup in 2004 and a new in Stilling (Denmark) in 2008.

As for myself, I had resigned as Group CEO in 2006 to become chairman of the board, but suddenly in week 42 in 2008 the financial crisis appeared out of the blue. Because of this, I had to return as CEO.

Back then, like today, I am glad that FREJA at no time has paid dividends to the shareholders. All the money has stayed in the company and has been invested in improvements and spent on the consolidation and optimization of the company.

Now we are once again facing an unpredictable period with a COVID-19 crisis that has appeared out of the blue. The present is very much similar to 2008 because also in 2020 FREJA is in the middle of larger investments. These are investments that we neither can nor will put on hold, as we believe the crisis will make us stronger if we just stick to our values, maintain and strengthen our strong relations, and show orderliness in all that we do.

The actual investments are new transport facilities in Szczecin in Poland at a 75,000 m2 large site and an extension of our fleet of trucks with as much as 75 trucks over the next 9 months.

I am extremely proud of all of our skilled and committed employees and not least all of our sub-suppliers. We have a group of fantastic haulers and drivers, who every day do what we ask them to do in respect of and in large consideration of our customers.”

[caption id="attachment_13103" align="alignnone" width="600"] Heinrich Sørensen Hald sent this picture to us. The picture was taken in Skive. [/caption]

Knowledge and Full Service Provider status create strong customer relations for FREJA Group

The transport and logistics provider FREJA Transport & Logistics Holding A/S presents a satisfying result in 2016 with continuous progress in all key figures. The subsidiaries in Norway and Finland deliver results significantly above marked level. During the year, FREJA has invested massively to reach the status as Full Service Provider. The investment ensures a strong basis for creating long-term partnerships with the customers. The Danish owner foresees significant opportunities to improve the result in the years to come.

A continues positive development in earnings in 2016
FREJA Transport & Logistics Holding A/S reports an increase in earnings from 2015 to 2016 of 1 percent. The total turnover in 2016 amounts to EUR 327 mill. EBIT amounts to EUR 6.3 mill. in 2016 compared to EUR 5.9 mill. in 2015. The result of the year before taxes amounts to EUR 6.2 mill. in 2016 compared to EUR 6.0 mill. in 2015.

The equity of the Group has increased from EUR 24.7 mill. in 2015 to EUR 28.4 mill. in 2016. The solvency ratio has increased from 29.8 % to 33.9 % at the end of 2016 - a positive development in all financial key figures. The development in the Norwegian and Finnish subsidiaries is very positive whereas the Swedish subsidiary has not met the expectations of the year. The Danish company has invested in new business areas by adding competent knowledge resources. Since March 2016, a new subsidiary in China has been running and contributes better than expected in the first year.

FREJA is ready to meet all customer needs as Full Service Provider
FREJA is renowned for the company's massive IT investments to optimize its own business and to offer the customers the opportunity to attain better insight and more safety as regards the transport solution. In 2016, the overall business is strengthened further through investments in new business areas. FREJA has invested to solve complicated project assignments just as a unique Pharma division and a standard Air & Sea division have been established. Furthermore, FREJA offers the customers to utilize the knowledge resources from FREJA to optimize the internal logistics from A to Z.

"We are convinced that building partnerships with our customers will create a win-win situation for all parties involved. If we get a deeper insight in the customer's value chain, we are able to offer a customised solution, which meets and optimizes the customer's logistics demands. Trust and credibility are keywords in the cooperation. To take responsibility is a natural part of our way of working in FREJA. We have always run the company FREJA based on strong values. We work daily to make a difference to our customers and to ensure that we improve together day by day," says Jørgen Hansen, owner and CEO in FREJA Group.

It takes more than a reasonable result to impress a modest temper
"We reached an acceptable result in 2016 but we also think there is room for improvements. We need to challenge ourselves continuously as regards the investment income. Our aim is to improve the result significantly in 2017 and a property sale in Sweden will contribute positively to a result that we can take pride in", Jørgen Hansen concludes.

For further information please contact Group CEO Jørgen Hansen by phone +45 96 70 51 01 or by e-mail jh@freja.com

FREJA is proud to help deliver crucial aids to combat COVID-19. Recently, FREJA handled part of Apodan A/S's supply chain, as we had to pick up and repack 56,000 test kits. The many test kits had to be picked up in France and delivered in Denmark, where all units then had to be repackaged with new package labels and distributed to the recipient within four days. Everything was picked up, repackaged, and distributed on time, and both customer and recipient were happy with the delivery.

Morten Bruun-Kristensen, Logistics & Healthcare Director at FREJA, says: “Our strength is our flexibility and know-how in the handling of GDP/GMP services, as our processes are developed to handle time-critical tasks for the Life Science industry. It was an exciting task, and we appreciate the close collaboration we have with Apodan A/S, as well as the trust they have in us”.

FREJA has collected, repackaged, and distributed 56,000 test kits for Apodan A/S.

This is not the first time that FREJA has contributed to the fight against COVID-19. In Denmark and Norway, FREJA has assisted B. Braun in securing ampoules of sodium chloride to both the Danish and Norwegian center of disease control and prevention, so vaccination could start as soon as the vaccine was approved and delivered. The products were sent by urgent GDP transports and delivered on-time to start vaccination.

If you want to know more about what we can do for you within Pharma & Healthcare Logistics, you are more than welcome to contact us.

FREJA Denmark introduces a new product – FREJA Courier.

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