Proven practice

Mazars' Transport & Logistics practice brings together multidisciplinary teams from all over the world united by their expertise and experience in this complex and fast-changing industry. Our teams have decades of experience working with the diverse actors that make up this sector, from logistics providers and freight forwarders to airport authorities and railway operators.

Logistics & Freight forwarding

Statutory auditor of TNT express

TNT Express N.V. is an international courier delivery services company operating in more than 60 countries and delivering documents, parcels and pieces of freight to over 200 countries. Mazars is the local auditor in more than 40 countries. A knowledge sharing platform has been developed to improve transparency and facilitate exchange between local management, local auditors, central management and Mazars teams (document sharing, monitoring work in progress, managing communications).

Statutory auditor of a large family-owned logistics Group

Den Hartogh is a large, family-owned logistics service provider for the chemical industry based out of the Netherlands. The company is currently going through a crucial period of transition, growing from a European service provider to a truly global one. Because of its extensive experience with family-owned businesses and the Transport & Logistics Industry, Mazars has been appointed statutory auditor in several countries, assisting its client to achieve its global aspirations.

Survey on urban logistics and "last mile" subcontracting

The transportation management team of the Ile-de-France region in France commissioned Mazars to document the existing practices relating to transportation and subcontracting within the region, specifically by benchmarking 120 professionals in the sector. This study was the first step in the development of a new logistics scheme involving all stakeholders: transportation and logistics actors, local authorities, inhabitants, etc. Mazars’ expertise with local authorities and Transport & Logistics allowed for the emergence of a favourable dynamic that facilitated the convergence of interests around the proposed solutions, guaranteeing their sustainability and viability. 

Presumed fraud: identification, quantification, documentation, solutions

Following the detection of duplicate supplier invoices with distinct bank account information, Mazars was commissioned to conduct a specific IT audit through its proprietary system, Scan-D®. The analysis of the client's transactions carried out with the Scan-D® system enabled Mazars to detect another fraud scheme orchestrated by the same party against our client, then to quantify the overall fraud and obtain necessary documentation of the fraud. 

Assessing foreign exchange risk exposure and improving hedging strategy

Active in 80 countries, one of our clients was significantly exposed to foreign exchange risk. Mazars was called in to identify these risks and quantify their impact. Our team also carried out a diagnostic and provided advice concerning the Group's exchange risk hedging strategy. Procedures, forms and currency risk communications were also reviewed by our experts.


Assisting RATP Dev to develop its footprint in the U.S. market

RATP Dev is as a multimodal operator, operating and offering maintenance expertise across all means of land transportation: buses, light rail, metros, regional railways and specific transport services. Mazars assisted RATP Dev by conducting buy-side due diligences & Tax due diligences in the context of its acquisition of Fullington Auto Bus Company, a road and school transport operator in Pennsylvania (U.S.A.). This strategic operation enabled the group to gain a point of entry in the U.S. market and respond more efficiently to local tenders.

Assisting a major European transport company with its international growth strategy

Since 2005, a major European transport, logistics and freight forwarding company, has relied on Mazars' teams in Spain to carry out due diligences as part of its international growth strategy. Further to acquisitions, Mazars was also mandated to advise the Group on internal reorganisation processes. 


Seasoned professionals who have solid industry experience in the rail transport, infrastructure and regulatory environment

We work with rail industry leaders in Europe and provide our full-range of services, including due diligence, financial modelling, corporate finance and transaction advisory.

Identifying risks inherent to business processes

Mazars assisted TP Ferro, a concessionaire of the high-speed railway line between Spain and France, to identify the different risks within its business processes, as well as the controls to be implemented to better manage them, before the entry into service and operation of trains. This engagement was a first step in helping the general management to define an action plan for improving the internal controls system.

Providing assistance during the carve-out of Eurostar

In anticipation of the opening up of the European railway market to competition and the creation of the Eurostar company in England, Mazars assisted SNCF with the partial divestment of its Eurostar activity. As auditor, the scope of our engagement included the carve-out of key financial aggregates, adjustment of the working capital analysis and a review of the financial covenants in the SPA.


Assisting Aéroports de Paris prior to its introduction on the stock exchange

In the context of the French State's partial disengagement from the civil aviation industry, Mazars assisted the accounting division of Aéroports de Paris (ADP), the Parisian airport authority, in the run up to its introduction on the stock exchange in 2006.

Reviewing the budget allocation scheme of a large airport authority

Mazars was commissioned by the French Civil Aviation Authority (DGAC) to review the economic models of Aéroports de Paris (ADP), the Parisian airport authority, in the context of the renewal of a 5-year regulation tariff and investment contract between ADP and the French State. Simulations of different scenarios were run - inclusion/exclusion of shops and car park business from the regulated perimeter... - and the effects on ROCE and indebtedness calculated.