Fiege Group in the black again
Contract logistics specialist Fiege aims for moderate and profit-oriented growth Specialising in contract logistics services for the core branches fashion, food, beverages, health care, tyres/spare parts for motor vehicles, technology and media, Fiege Group pursues a modified strategy. “We don’t want to be the biggest, but the best“, Managing Director Hugo Fiege announces in an interview with the newspaper “Frankfurter Allgemeine Zeitung“. Their new aim was just to reach a moderate, profit-oriented growth ranging between 3 to 5 per cent per year. In the fiscal period of 2009, which was marked by difficult market conditions, Greven (Germany) based Fiege Group achieved profit after two years of losses again. With a turnover of EUR 1.45 billion (2008: EUR 1.8 billion) they posted a result before interests, taxes and depreciations of EUR 60 million. In total the enterprise was also in the black. According to Hugo Fiege their equity ratio should rise from currently 15 per cent to permanent 20 per cent. In 2007 Fiege has financially expended themselves with the purchase of the Hamburg forwarding company TTS. With radical measures like giving up freight forwarding activities for third party customers, disposing of large parts of the TTS fleet and cutting around 1,000 jobs, the group was on track again. At the moment the family enterprise, employing 20,000 persons around the globe, is constructing a new logistics centre in Mönchengladbach for their fashion client Esprit. The investment totals about EUR 60 million. Quelle: LogEastics |