Auto sector boosts BLG’s 2017 results

BLG Logistics

BLG Logistics recorded revenues of €1,087m in 2017, up 4.0% from the year previously. Its EBITDA totalled €84.6m, up 11.0%. The group’s annual profit was €32.0m, up 3.3%.

Its Automobile segment overtook its Contract segment to provide its largest slice of revenues in the year. Revenues were 16.1% higher at €550.2m. Its EBITDA totalled €34.2m, up from €29.8m. The company attributed this growth to the stronger German cars market, as well as an increase in vehicles handled at its terminals.

Contract revenues fell from €574.6m to €547.8m. However, its EBITDA contribution was higher than in the Automobile segment, up 28.2% higher at €37.3m.

Container revenues were down slightly at €303.9m. This was in part due to lower volumes handled at the container terminal in Hamburg. Volumes were said to have contracted significantly following the alliances’ re-structuring and the insolvency of its longstanding customer Hanjin. Like its Contract section though, profitability was higher. EBITDA totalled €75.4m, up from €73.0m in 2016.

Franke Deeke, CEO commented “As a globally operating company, we depend on the production and therefore goods flow in the global economy. This has proved to be unaffected by political uncertainties. In the long term, the megatrends of energy, environment, technology, transport, health, and digitalization will provide strong growth impulses. For the BLG Group, we expect sales in business year 2018 to at least match the previous year’s figure.”

Source: BLG Logistics