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Peugeot Citroen : Transportation 2005 Gefco revenue totaled €3,000 million, up 3.7% over 2004. Revenue from services performed for other Group companies was virtually unchanged, rising 0.7% to €1,843 million, while revenue from third parties increased 8.7% to €1,157 million. Gefco’s operating margin amounted to €145 million, or 4.8% of revenue, versus €158 million or 5.5% in 2004, as the increase in transportation costs due to higher fuel prices exceeded the positive impact of continued productivity gains in operating expenses, supply chain processes and purchasing. 2003 Gefco's 2003 revenues totaled €2,742 million, up 3.6% on 2002. Excluding the currency effect, revenues climbed 4.4% over 2002. Network (part and full-load transportation) revenues expanded 2.4% to €1,407 million, reflecting the development of international services, especially in Eastern Europe and the Mercosur region, which offset the effects of lackluster economic conditions in France and Germany. Automotive (vehicle preparation and distribution) revenues totaled €1,021 million, an increase of 3.5%. Supply (logistics and sea and air freight) revenues grew 8.1% to €295 million, powered by steadily rising throughput at the Havre international automobile parts logistics platform and the Peugeot Motocycles platform. 2001 Gefco serves PSA Peugeot Citroën and outside customers in three major businesses: car preparation and distribution, package and less-thantruckload delivery and logistics. It provides transportation by road, rail, sea and air. Number two in France, Gefco is one of Europe's ten biggest transportation and logistics providers. Its sales rose by 13.5% to €2.6 billion in 2001. FINANCIAL RESULTS 2001 Sales excluding VAT rose 13.5% to €2,643 million, or 14.9% at comparable scope of consolidation. Operating margin totaled €119 million, an increase of 19% from the previous year. Sales growth, the ongoing program to enhance competitiveness and significant rate increases helped lift the operating margin to 4.5% of sales from 4.3% in 2000. 2000 Sales by the Transportation business rose 33.2% to 2,329 million of euros, including revenues from newly acquired KN Elan, the German transportation and logistics subsidiary of Kühne & Nagel. Comparable sales were up 20.4%.
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