Uber Freight Accelerates Across Europe, with 100% growth YOY of Managed Transportation Services and 200 Million EUR Freight Under Management (FUM)

LEUSDEN, Netherlands, March 12, 2024 (GLOBE NEWSWIRE) -- Uber Freight, the leading end-to-end enterprise suite powering intelligent logistics, today announced strong growth in its European Managed Transportation business, exceeding 200 million euro in freight under management (FUM) and setting a bold course for €2 billion by 2028. This fuels Uber Freight's global momentum, as the company now has surpassed $18 billion in freight under management worldwide, showcasing the extensive reach of its software and services. Uber Freight's investment and momentum across the continent positions the technology company as a breakout leader in 4PL services across Europe and lays the foundation for continued growth and expansion.

The European logistics market, which is expected to reach 1.17 trillion EUR by 2029, is growing in both size and complexity. Increasingly, shippers in the region are turning to strategic partners like Uber Freight who offer advanced technologies, deep domain expertise and a global footprint to help unlock operational efficiency, improve customer service and ship sustainably to reduce carbon emissions.

"With logistics becoming more globalised, it's essential for shippers to find partners that can provide a comprehensive and flexible suite of services that meet them exactly where they are and can grow with them," said Lior Ron, Founder and CEO of Uber Freight. "Our European business is accelerating because we're dedicated to offering precisely that. We bring the optionality and expertise needed to keep pace in a rapidly evolving landscape and, as we continue to invest in the region, we plan on cementing our role as the premier logistics partner in Europe."

Among Uber Freight's global customers are leading European brands including McBride PLC and Kronos Worldwide, Inc. These diverse companies, spanning household goods production and global chemical manufacturing, share a common goal: achieving seamless logistics and data-driven efficiencies across their supply chains.

McBride: Enhancing Supply Chain Efficiency with Real-Time Insights

McBride PLC (McBride), Europe's leading manufacturer of retailer own brand household goods, operates four divisions: unit dosing, liquids, aerosols, and powders. Serving a single customer in one market often requires combining products from multiple factories, potentially all transported in a single truck. This intricate process necessitates real-time visibility into inventory, location, and delivery times. Uber Freight's platform empowers McBride with:

Granular data insights: Unlocking end-to-end transparency across its complex supply chain, allowing it to plan efficiently, optimise transport routes, and deliver superior service.Joining the data dots: Consolidating deliveries from multiple locations onto a single truck reduces costs and carbon footprint. Real-time tracking ensures complete control over every step of the journey, from factory gates to store shelves.Data-driven partnership: Going beyond technology, McBride and Uber Freight collaborate to optimise processes, troubleshoot challenges, and continuously improve logistics performance.

"Before partnering with Uber Freight, managing our complex multi-location deliveries felt like juggling blindfolded. Their platform has been a game-changer, providing us with the end-to-end visibility and data insights we need to optimise routes, consolidate shipments, and ensure on-time deliveries. This not only reduces our costs but also allows us to deliver superior service to our customers. We're incredibly grateful for Uber Freight's collaborative approach and their commitment to helping us navigate the ever-evolving logistics landscape," said Nick Lloyd, Group Customer Service & Logistics Director at McBride PLC.

Kronos: Advancing Sustainability Through Strategic Partnership with Uber Freight

Kronos Worldwide, Inc. (Kronos) is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. Kronos selected Uber Freight as their strategic global supply chain partner for their European business, with a strong focus on advancing sustainability goals. Building on their successful partnership in North America, Uber Freight's expertise and solutions have empowered Kronos to drive meaningful progress in sustainability initiatives. Through collaborative efforts with Uber Freight, Kronos has embarked on several sustainability projects aimed at reducing carbon emissions and enhancing environmental stewardship:

Agreed CO2 Baselines: Kronos and Uber Freight have established CO2 baselines for Europe and North America, setting the stage for tracking emissions savings in 2024.Sustainability Projects: Four key sustainability projects have been identified, including load factor improvement, mode conversion, cross-customer collaboration, and the introduction of advanced fuels such as electric vehicles and HVO. Each project is equipped with defined CO2 reduction targets.Execution and Tracking: Uber Freight will partner closely with Kronos teams to execute these projects throughout 2024, diligently tracking CO2 savings along the way.Targeted Reduction: Together, Kronos and Uber Freight aim to achieve a reduction in CO2 emissions, with clear set targets, contributing significantly to their sustainability objectives.Monitoring and Reporting: Emissions savings will be closely monitored using the carbon intensity measure within the GLEC dashboard within TMS, providing transparent insights into progress and impact.

"Uber Freight has become an integral partner in our supply chain digitization strategy with a particular emphasis on advancing our sustainability goals in addition to improving on cost and service," said Memsud Musabasic, Head of Global Forwarding and Distribution at Kronos Worldwide, Inc. "Their innovative approach and tools, such as the GLEC-based emissions dashboard, have revolutionized our ability to manage and mitigate our environmental footprint. By leveraging real-time data insights, we are setting new benchmarks for sustainable practices within our supply chain."

Looking Ahead:
With a clear vision for the future, Uber Freight is actively expanding its European operations, investing in talent, and developing innovative solutions that address the specific needs of the region. The company is confident in its ability to achieve its 2 billion Euro FUM target in 2028 and is committed to shaping the future of European logistics through technology, collaboration, and unwavering customer focus.

ABOUT UBER FREIGHT
Uber Freight is a market-leading enterprise technology company powering intelligent logistics. With a suite of end-to-end logistics applications, managed services and an expansive carrier network, Uber Freight advances supply chains and moves the world's goods. Today, the company manages over $18 billion of freight and one of the largest networks of carriers. It is backed by best-in-class investors including Greenbriar Equity Group and partnered with 1 in 3 Fortune 500 companies, including Del Monte Foods, Nestle, Anheuser-Busch InBev and more. For more, visit www.uberfreight.com

For media inquiries, please contact: Sam Hallock, Corporate Communications at Uber Freight at press@uberfreight.com.

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