Group revenues increased 6.2% year on year to EUR2,402m due to a double-digit increase in international integrated logistics business.

EBITDA for the first six months of 2018 was EUR165.4m under IFRS 16. Excluding IFRS 16 impact, EBITDA for the period amounted to EUR121.9m, an increase of 11.6% year on year.

Recurring EBIT reached EUR94.9m over the period under IFRS 16 (excluding IFRS 16, recurring EBIT reached EUR93.5m).

"We are pleased to have achieved strong financial performance in the first half of 2018," said Pavel Ilichev, head of finance & strategy.

Chairman Luc Nadal said: "Our positive results highlight Gefco's capacity to consistently meet the needs of our long standing customers in the automotive sector, such as Groupe PSA, while continuing to grow and create value in other sectors."

Gefco is following a strategy of investing in partnerships to support market growth. In July it signed an agreement with Spanish car importer Berge to merge the two companies' Spanish finished vehicle businesses into a new market leader in Spain.