The Panalpina Group improved profitability in the second quarter of 2013. The Group's consolidated profit increased by 44% year-on-year to CHF 24 million. Gross profit went up by 10% to CHF 399 million. Panalpina's Air Freight showed the first volume increase after nine quarters of declines and moreover grew ahead of market. Ocean Freight continued to gain market share, and Logistics Value-Added Services continued their positive development. In Air Freight, Panalpina moderately outperformed the market. The volumes increased by 3% while the market did not grow in the second quarter (0%). The transported volumes of Panalpina's customers in the high-tech and chemicals sector remained at relatively low levels. Consumer and retail, as well as healthcare and oil and gas customers however grew substantially. Gross profit per ton of air freight year-on-year was stable but further improved compared to the first quarter 2013. Growing volumes led to a 3% year-on-year gross profit increase to CHF 166 million. Panalpina's Logistics grew by a solid 19% and reached a gross profit of CHF 109 million. The investments in people and IT solutions to broaden the Value-Added Services portfolio continued to drive and support growth.