ExpolankaHoldingsPLCAR2021-22.pdf - Flipbook - Page 43
EXPOLANKA HOLDINGS PLC
INTEGRATED ANNUAL REPORT 2021/22
EFL Global's operations have invariably remained
predominantly North America-centric. The growth
in this trade lane during the year was phenomenal.
North America contributed 84% of EFL revenue during
the year under review, an increase of 223% from the
previous year. Noticeable progress was made on both
the European & Intra Asia trade lanes, combining 12%
of EFL revenue.
The sustained growth in the North American trade
lane results from the unified approach to business
adopted by the company. We will look to consolidate
and grow this trade lane which we feel would remain
the largest in our portfolio.
Despite the slow recovery post-pandemic, the
European trade lane made satisfactory progress,
particularly with our traditional businesses. Initial
investments into Denmark and Belgium performed
creditably during this period. We have long-term
aspirations in growing this market, which we feel will
be a critical component of success in the future.
The Intra Asia trade lane also saw satisfactory growth
during the year, and we are optimistic about the
prospects of trade within this region.
Capacity availability played a crucial role in the
volume growth the organization delivered during the
year. Lack of capacity, elevated & fluctuating prices,
pandemic-induced restrictions, and port congestions
were among a slew of Factors EFL procurement
team had to contend with during the year. The Group
remained steadfast and adopted innovative and
proactive procurement strategies to overcome these
EFL was able to leverage its collaborative and longterm relationships built over the last several years with
carrier partners. Supported by a data-driven approach
enabled us to efficiently secure capacity and optimize
our procurement costs in challenging conditions.
Meanwhile, focused efforts to broad base the carrier
networks paved the way for EFL to augment its
customer offerings through more flexible, bespoke
solutions to meet customer demands. Servicing
over 1,000 charter operations during the year under
review, reflected EFL agility to adjust to market
conditions. This reflects that EFL undertook over 1000
charter programs during the year under review. EFL's
ability to shift from a scheduled flight operation to a
charter operation speaks volumes of the company's
ability to be agile in challenging conditions.
The Ocean Freight market, too, remained very dynamic
and was impacted by container shortages and port
congestions, resulting in relatively higher rates. Despite
lower capacity and higher rates, EFL was able to could
tap into its long-term carrier partnerships, supported by
proactive procurement strategies, to maintain healthy
profitability during the year.
DIGITIZATION & TECHNOLOGY
Understanding the strategic importance of our
technology & digital capabilities, we progressed
expeditiously in generating value from our digital
platforms. The primary focus was on operational
efficiency, workflow standardization, and data
integrity. We focused on developing our data strategy
with more new and agile technology solutions.
Furthermore, we recognized the importance of cyber
security, and EFL Global was able to implement a
globally synergized program to integrate this aspect
into our business operations further.
Being a global organization, we adopted best
practices by implementing ISO 27001 certification
and GDPR compliance. On the development front,
I am happy to note that we have made progress on
our freight forwarding suite, which aims to increase
our customers' visibility; we hope this will be rolled out
within FY 22/23.
Our people are our greatest asset. It is through
their tireless efforts, dedication, determination, and
hard work that we have achieved this success as a
service organization. This past year has brought out
the very best in our people. I am exceptionally proud
of how our employees worldwide worked tirelessly
to ensure that our operations continue to function,
even amidst pandemic-related limitations. The spirit
and determination shown by each employee is a true
manifestation of what Expo Group stands for; our
values, the dedication to excellence, the willingness
to innovate, and our commitment to upholding
stakeholder interest. This show of strength and
resilience has made it clear that we are indeed "one
team pursuing one dream."
ENVIRONMENT SOCIAL & GOVERNANCE
(E S G)
E S G remains a critical strategic element in our
overall growth plan as we prioritize expanding EFL's
global operations. We consider E S G an extension
of our business and strive to holistically embed this
into our operational framework. We have adopted
an integrated E S G model to bind the organization
towards delivering sustainable returns. The E S G
framework encompasses stakeholders, regulators,
shareholders, business partners (customers &
suppliers), employees, environment, and community.