BLG Logistics has reported its financial results for 2019, showing total revenues increase by €17.3m or 1.5%, €1.16bn. EBT for 2019 remained at the previous year’s level €37.5m. The company states to have handled, transported, or technically processed a total of 6.3m vehicles in 2019. In its automobile division revenue went up to €603.7m, which is an increase of 9.1% Y-o-Y; while EBT increased by more than 24%, reaching €19.3m.
Its Contract division posted stable results, with revenues amounting to €563.9m, compared to €599.2m in 2018. Its EBT increased by 2.5% to €7.4m.
Its Container division, which is represented by half of the shares in EUROGATE, generated an annual net profit of €45.5m in 2019, generating less than in 2018, which showed €67.3m in annual net profits. The slightly lower overall handling volume in Germany resulted in a sales revenue of €564.6m, which was also below the previous year’s value, €604.0m. Generally, the business year was marked by the effects of the consolidation wave in shipping line alliances during previous years and the resulting changes in networks.
Looking at the current business year of 2020, the CEO, Frank Dreeke, stated, “At the moment, nobody can say with certainty how drastic the impacts of the coronavirus crisis will be. Economic research institutes predict a fall in GDP of 9.8% in the second quarter. That would be a crash double the scale of that in the 2009 global financial crisis. The effects of the coronavirus crisis on volume, sales, and profit will be massive and severe in all areas. However, the figures for 2019 show that we have a robust and solid basis which will allow us to ride out the storm.“
And continued, “In business year 2019, BLG LOGISTICS generated a solid profit. Altogether, we exceeded our goal of maintaining sales revenue at a constant level.” Backed up by this robust and solid financial starting point, the company would also weather the extremely difficult year of 2020, he said.
Source: BLG Logistics
