Transport and logistics group, Move Logistics, expects its normalised earnings before interest, tax, depreciation, and amortisation (EBITDA) for the second half of the 2024 financial year to be ahead of the first half.
The company said while the weak economic conditions have impacted customer demand and slowed down the speed of turnaround initiatives, early improvements are now being delivered as Move transitions towards a sales-led and customer-focused organisation.
To meet the demand and align with its asset-light business model, Move will enter into a time charter model for a larger vessel and sell the Atlas Wind.
The company also noted that warehousing faces increased pricing pressure and is taking steps to capture a wider range of customers.
Move Logistics said further work is underway and it expects the full-year result to include non-cash impairments related to the Atlas Wind vessel and the write-down of goodwill in the warehousing business.
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