The information below is a summary of more detailed and comprehensive information about C.H. Robinson that can be found in our SEC filings. Our SEC filings are available on our web site, in the SEC filings section.
Since we became a publicly-traded company in 1997, our long-term compounded annual growth target has been 15 percent for net revenues, income from operations, and earnings per share. Because our industry is so dynamic and volatile, we don’t predict or make forecasts about short-term expectations. Our view is that we continue to be well-positioned with a strong business model, and an industry full of opportunity. Our challenge is to continue our track record of hard work and efficient execution. We expect to reach our long-term growth primarily through internal growth, including opening new branches, but acquisitions that fit our growth criteria and culture may also augment our growth.
Key trends continue to drive long-term growth in third party transportation, such as increased outsourcing, adoption of core carrier programs, increased reliance on technology, and globalization of supply chains. To capitalize on those trends and meet our growth goals over the long term we will continue to:
Despite our position as one of the largest providers of North American truckload transportation, we believe our truckload business represents only about two to three percent of the North American truck market, leaving us plenty of opportunity to continue to grow. We continue to develop creative transportation and logistics solutions and to offer more integrated services to customers. We will also continue to work hard to win new customers and expand our market share.
- Grow market share with new and existing customers
- Add services that are consistent with our business model
- Expand our global network
We continue to develop networks of offices and relationships on other continents, particularly in Europe. Our surface-based European transportation business is now approximately three percent of our transportation gross profits. We have 13 offices in Europe that provide intra-European transportation services, and 15 that provide international ocean and air forwarding services. Our business processes and technology are in place, and we see enormous potential in that region as trade and transportation practices evolve.
Our global forwarding business is air and ocean transportation and customs brokerage services. It is about eight percent of our transportation net revenues today. Growth in world trade is driving growth in international freight volumes. Shippers increasingly seek transportation providers that can manage the entire move, rather than just the international or domestic portions. Our business model, service-oriented culture, and existing surface-based transportation network are competitive advantages in international forwarding. We currently have 50 Robinson offices around the world that provide global forwarding, and we work with agents in locations where we don’t have owned offices.