A.C.L.N. Limited Announces Shipments of 36,439 Cars in First
Quarter
LOS ANGELES, April 23 /PRNewswire Interactive News Release/ -- A.C.L.N.
Limited , a global leader in the distribution and logistics of
new and pre-owned automobiles, today announced that the extraordinary demand
for automobiles in Africa led to it shipping approximately 36,439 automobiles
during the first quarter ended March 31, 2001. This year's first quarter
shipments represent an increase of more than 122 percent over the first
quarter of 2000 and establish a new quarterly record for the Company, said
ACLN Chairman Joseph Bisschops.
Total shipments for the first quarter of 2001 also represent a sequential
increase over the fourth quarter of 2000 of approximately 6 percent.
Bisschops characterized first quarter 2001 shipments as notable since
traditionally it's ACLN's slowest quarter.
Not included in this year's first quarter totals are approximately 5,700
cars shipped during the quarter that had not arrived in one of the Company's
14 ports of destination in Africa before the end of March. ACLN also reported
that it has a backlog of approximately 8,000 cars at its ports in Europe
awaiting delivery through the Company's logistics services.
About 6,500 cars, or approximately 18 percent of the total for the first
quarter of this year, were new car shipments through the Company's expanding
wholesale distribution service, which is focused on the sale of new cars to
individuals and small independent dealers in Africa.
First Quarter Car Volume Comparisons
2000 2001 Percent Change
New Cars Sold & Delivered 3,400 6,500 91%
Logistics Cars Delivered 13,030 29,939 129%
Total Cars Delivered 16,430 36,439 122%
"The increase in demand for automobiles in Africa continues at a very
brisk pace and our door-to-door shipping and logistics services uniquely
positions us to profitably take full advantage of this rapidly expanding
market," Bisschops said. "We are focused on achieving even greater economies
of scale as we continue to ramp up our car shipment volumes."
Aldo Labiad, ACLN Chief Executive Officer, characterized the car volumes
as "exceptional, especially in light of the fact that the first quarter is
typically a seasonally slow time. I continue to be very encouraged by the
ongoing expansion of demand in our African markets and the resulting increases
in our business."
ACLN Chief Financial Officer Christian Payne, added that "from a financial
standpoint, our revenue mix shifted this quarter, with more volume going to
destinations in West Africa, which have slightly lower per-car revenue
characteristics. However, our significantly higher shipment volumes have
compensated for this lower per-car revenue."