Hoyer profited from robust business model in 2009
Bulk logistics specialist Hoyer (Hamburg) generated a positive operating result in 2009
“The 2009 financial year turned out better than we expected at the start of the year. Our business model has shown itself to be robust," commented Thomas Hoyer, Chairman of the Advisory Board, and Ortwin Nast, Chief Executive Officer at the recent presentation of the Hoyer group’s 2009 annual report. Being a specialist for bulk logistics in the chemical, food, gas and mineral oil segment the Hamburg-based enterprise had to face the global economic crisis and generally shrinking load volumes last year. Despite the 14 per cent decreased turnover of EUR 852 million, earnings before taxes amounting to EUR 20.6 million remained relatively stable. At the closing day of the balance sheet their global workforce amounted to 5,162 persons. In the reporting period Hoyer managed to slightly increase its share of the European market of logistics solutions for the chemical logistics sector. Mineral oil logistics had to accept a slight fall in turnover, some of which was due to currency effects. 2009 was a good year for bitumen transportation, which belongs also to the petroleum logistics market. This was due in part to the economic stimulus packages launched by the German government. The weakness of the global economy triggered a significant decline in turnover from gas transports in 2009. For the first time in eight years the group experienced a drop in loading volumes in its overseas business activities. The food logistics division expanded its business volumes with beer and as glucose, and acquired new business in the juices, oils and fats as well as chocolate segments. Quelle: LogEastics |