Investor Relations · Market white paper · September 2026
The global logistics market, the countries WLC serves and the commercial path from cross-border demand to recurring revenue. A research-led view of transport, warehousing, customs coordination and door-to-door delivery.
WLC operates at the intersection of international trade and everyday business logistics: moving products from suppliers and sellers in Türkiye and the Middle East to customers in Europe. Its proposition is one coordinated relationship across transport, storage, customs support and final delivery, with the service designed around each customer.
The investment thesis starts with published estimates of the wider logistics market, then narrows to a separately defined commercial-services dataset for the countries and services WLC targets. Market scale provides context; growth comes from converting specific routes and customer needs into repeat shipments with sustainable margins.
Market scale & geographic reach
Published logistics market estimates differ. Research firms use different coverage and estimation methods, so each figure below is identified by publisher, year and scope. The wider market includes first-party logistics, where a business manages its own logistics; the commercial-services series measures services purchased from providers.
2025 market estimates · US dollars · sources checked 22 September 2026
Logistics market covering 1PL, 2PL, 3PL and other models, including first-party logistics. This is the publisher’s market-value estimate, not an audited sum of logistics companies’ revenue.
Source · updated 9 September 2026 ↗This separate research series covers externally purchased transport, forwarding, warehousing, courier/parcel and related services. Companies’ own in-house logistics costs are excluded. We use this series only for the country comparison below.
Source · updated September 11, 2026 ↗| Publisher | 2025 estimate | Published scope |
|---|---|---|
| Expert Market Research ↗ | $11.97tn | Logistics market covering 1PL, 2PL, 3PL and other models, including first-party logistics. |
| Precedence Research ↗ | $11.23tn | Logistics market covering first-party, second-party, third-party and contract logistics. |
| Mordor Intelligence ↗ | $6.38tn | Externally purchased freight and logistics services; excludes own-account logistics costs. |
These are separate publishers’ estimates, not a statistical confidence range or a reconciled global total. Public scope descriptions do not fully explain the size of the differences. The figures are not added together, and one publisher’s country values are not divided by another publisher’s global estimate.
$947.57bn quantified across 11 of 52 service countries. These national market estimates come from Mordor Intelligence’s 2025 series. Their sum represents 14.85% of Mordor’s $6.38tn global services estimate. It is not a percentage of the wider $11.97tn estimate and is not WLC’s actual market share.
WLC’s 52-country service network connects Europe, Asia, the Middle East and North Africa. This market comparison quantifies only the 11 countries with verified figures in the research series above; the other service countries are not assigned estimated revenue. Capturing demand depends on individual customers, routes and available capacity.
Denominator: Mordor’s $6.38tn estimate. The remainder includes WLC service countries that are not quantified here.
Mordor Intelligence · 2025 · US$ billions · common zero baseline
Coverage of the calculation: Austria, Slovenia, Switzerland, Croatia, Belgium, Bulgaria, Belarus, Russia, Ukraine, Armenia, Azerbaijan, Georgia, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Turkmenistan, China, India, Pakistan, Bangladesh, Sri Lanka, Jordan, Iraq, Egypt, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, Morocco, Algeria, Tunisia, Lebanon, Denmark, Sweden, Norway, Finland, Estonia, Latvia, Lithuania remain part of WLC’s service footprint but are not included in the subtotal because a comparable 2025 figure was not verified. Missing data is not treated as zero. The percentage therefore describes the quantified subset, not the full 52-country footprint.
The geographic benchmark compares Mordor’s commercial-services estimates for the quantified countries. WLC’s serviceable opportunity is the portion matching its routes, cargo profiles and service capabilities; that narrower revenue pool has not yet been quantified.
The three-year scenarios below model potential WLC activity from merchant numbers, shipment frequency and pricing. They do not assume that WLC wins a fixed percentage of national logistics revenue.
Mordor Intelligence: Freight and Logistics Market ↗. The global source reports a 2025 market value of $6,380.00bn. The national figures below are from the same publisher’s freight and logistics reports, checked 22 September 2026.
These are the publisher’s market-revenue estimates, not an official census or audited WLC results. This paper uses 2025 throughout; later forecasts are not added to historical values. Country figures are converted to US$ billions where necessary. No foreign-exchange conversion or allocation from regional totals is applied.
Global report updated September 11, 2026; country reports were updated between January and August 2026. Austria, Belgium, Croatia and Slovenia did not have a comparable country figure verified in this review. Switzerland’s available 2025 forecast edition contains inconsistent headline values and is excluded pending clarification.
Calculation: quantified geographic market = sum of the listed national estimates; geographic share = that sum ÷ $6,380.00bn × 100. Calculations use the published rounded values. The percentage is an indicative comparison of national research estimates, not WLC’s market share, current revenue, contracted demand or independently verified service capacity.
| Country | Market estimate | Primary source |
|---|---|---|
| Italy | $117.61bn | 2025 country report ↗ |
| Austria | Not quantified | No comparable figure verified |
| Slovenia | Not quantified | No comparable figure verified |
| Germany | $221.37bn | 2025 country report ↗ |
| France | $164.78bn | 2025 country report ↗ |
| Switzerland | Not quantified | No comparable figure verified |
| Croatia | Not quantified | No comparable figure verified |
| Hungary | $10.74bn | 2025 country report ↗ |
| Romania | $21.11bn | 2025 country report ↗ |
| Poland | $52.05bn | 2025 country report ↗ |
| Netherlands | $54.14bn | 2025 country report ↗ |
| Belgium | Not quantified | No comparable figure verified |
| Spain | $74.38bn | 2025 country report ↗ |
| Türkiye | $67.43bn | 2025 country report ↗ |
| United Kingdom | $142.33bn | 2025 country report ↗ |
| United Arab Emirates | $21.63bn | 2025 country report ↗ |
| Bulgaria | Not quantified | No comparable figure verified |
| Belarus | Not quantified | No comparable figure verified |
| Russia | Not quantified | No comparable figure verified |
| Ukraine | Not quantified | No comparable figure verified |
| Armenia | Not quantified | No comparable figure verified |
| Azerbaijan | Not quantified | No comparable figure verified |
| Georgia | Not quantified | No comparable figure verified |
| Kazakhstan | Not quantified | No comparable figure verified |
| Uzbekistan | Not quantified | No comparable figure verified |
| Kyrgyzstan | Not quantified | No comparable figure verified |
| Tajikistan | Not quantified | No comparable figure verified |
| Turkmenistan | Not quantified | No comparable figure verified |
| China | Not quantified | No comparable figure verified |
| India | Not quantified | No comparable figure verified |
| Pakistan | Not quantified | No comparable figure verified |
| Bangladesh | Not quantified | No comparable figure verified |
| Sri Lanka | Not quantified | No comparable figure verified |
| Jordan | Not quantified | No comparable figure verified |
| Iraq | Not quantified | No comparable figure verified |
| Egypt | Not quantified | No comparable figure verified |
| Saudi Arabia | Not quantified | No comparable figure verified |
| Qatar | Not quantified | No comparable figure verified |
| Kuwait | Not quantified | No comparable figure verified |
| Oman | Not quantified | No comparable figure verified |
| Bahrain | Not quantified | No comparable figure verified |
| Morocco | Not quantified | No comparable figure verified |
| Algeria | Not quantified | No comparable figure verified |
| Tunisia | Not quantified | No comparable figure verified |
| Lebanon | Not quantified | No comparable figure verified |
| Denmark | Not quantified | No comparable figure verified |
| Sweden | Not quantified | No comparable figure verified |
| Norway | Not quantified | No comparable figure verified |
| Finland | Not quantified | No comparable figure verified |
| Estonia | Not quantified | No comparable figure verified |
| Latvia | Not quantified | No comparable figure verified |
| Lithuania | Not quantified | No comparable figure verified |
| Quantified subtotal | $947.57bn | 11 of 52 service countries |
The WLC proposition
A seller entering Europe may need stock collected in Türkiye, cross-border paperwork coordinated, inventory held near customers and orders delivered to multiple destinations. Buying those steps separately creates handovers and operational work. WLC’s opportunity is to organise the agreed services around one practical plan.
| Service | Customer need | Commercial opportunity |
|---|---|---|
| Transport & delivery | Cross-border boxes, pallets, vehicle loads and project cargo. | Repeat route activity and tailored door-to-door delivery. |
| Warehousing | Stock storage, consolidation and preparation for onward delivery. | Recurring handling and storage requirements where agreed in the customer scope. |
| Customs coordination | Import/export documents and clearance support across borders. | A coordinated service accompanying the shipment and its documentation. |
| E-commerce solutions | Different products, marketplaces, order volumes and delivery requirements. | A tailored mix of transport, storage and distribution that can grow with the merchant. |
WLC targets demand within these activities; a country’s entire logistics economy is larger than the segment WLC can serve. Converting geographic reach into a serviceable revenue estimate requires route-level demand, available capacity, customer volumes and agreed pricing.
Explore the merchant propositionTwo investment paths · three years
Capital can support merchant acquisition, operations and the cash needed between paying carriers and collecting customer invoices. These two illustrative cases show the commercial targets that would need to be achieved over three years.
Planning scenarios, not WLC forecasts. Merchant counts, shipment frequency, pricing and costs below are assumptions to validate. They are not current customers, contracted volumes or promised results. The larger investment case requires four times the merchant base; funding alone does not establish that demand.
Across the three years, with €10.8m billed in Year 3. These figures assume an average €300 customer charge per shipment throughout the model.
At Year 3’s assumed activity, WLC would coordinate 3,000 shipments per month from an average of 300 active merchants.
The model retains €40 per shipment after €255 of carrier costs and €5 of other direct costs. Year 3 operating expenses are €650,000.
Three-year operating surplus: €810,000, before launch cash, tax, financing and depreciation. This is not an investor return or distributable profit.
EUR · three full operating years · zero-based scale
| Measure | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Average active merchants | 50 | 150 | 300 |
| Merchants at year end | 100 | 200 | 400 |
| Shipments / merchant / month | 6 | 8 | 10 |
| Annual shipments | 3,600 | 14,400 | 36,000 |
| Gross freight billings | €1,080,000 | €4,320,000 | €10,800,000 |
| Carrier purchases | €918,000 | €3,672,000 | €9,180,000 |
| Other direct shipment costs | €18,000 | €72,000 | €180,000 |
| Contribution after direct costs | €144,000 | €576,000 | €1,440,000 |
| Operating expenses | €250,000 | €450,000 | €650,000 |
| Operating surplus / (deficit)* | -€106,000 | €126,000 | €790,000 |
*Before launch cash, tax, financing and depreciation. The model excludes VAT, bad debts and warehouse income. Actual carrier rates, staffing, customer-acquisition costs and claims must replace these assumptions before an investment forecast is agreed.
The full €1,000,000 investment is received at the start. One-off launch cash is €60,000. Active merchants grow linearly from zero to the stated year-end totals; annual averages are the midpoint of each year’s starting and ending merchant base. These are net active-customer targets, so acquisition must also replace any churn.
Customer invoices are collected one month after shipment. Carrier charges, other direct costs and one-twelfth of annual operating expenses are paid in the shipment month. A monthly calculation, using the midpoint of each month’s merchant ramp, gives a peak cash draw of €658,333 in month 28, including launch cash. Modelled cash never falls below €341,667 within those assumptions.
Uncollected invoices are receivables, not cash. Payment delays, seasonal peaks, supplier prepayments or lower margins would change funding needs. This simplified cash model does not establish a real financing requirement or a probability of success.
Annual shipments = average active merchants × shipments per merchant per month × 12. Gross billings = shipments × €300. Shipment contribution = shipments × (€300 − €255 − €5). Operating surplus = shipment contribution − annual operating expenses.
Gross freight billings represent the shipment value invoiced. WLC’s reported revenue depends on its contractual role: gross service revenue when acting as principal, or the fee/commission when acting as agent, subject to the applicable accounting treatment. No investment return, valuation or success probability is implied. Market statistics above are USD; these scenarios are EUR and are not used to calculate market share.
Investment thesis & execution milestones
The opportunity is to become a long-term logistics partner for businesses trading across WLC’s service countries. Capital can support customer acquisition, operational capacity and the working capital needed between supplier payments and customer collections.
Prioritise routes and merchant groups with recurring shipments. Measure paid orders, repeat purchase, shipment frequency and retention.
Track customer billings, carrier and handling costs, claims and cash collection. Add warehousing and customs coordination where the customer scope supports positive contribution.
Increase sales and operations capacity as recurring volumes develop. Monitor on-time delivery, capacity availability, customer concentration and cash requirements before entering additional lanes.
A large logistics market creates room for a focused operator. The investable case depends on WLC’s ability to win customer relationships, deliver consistently and retain contribution after operating costs. Carrier capacity, border delays, customer retention and payment timing are the key assumptions to test alongside the growth plan.
