Logistics Segment

The key financial figures for the Logistics segment include the vehicle logistics, project and contract logistics, consultancy activities and cruise logistics business divisions. The results from dry bulk and fruit logistics are included in earnings from associates.

Revenue generated by the fully consolidated companies of the Logistics segment declined over the course of 2016. At € 55.0 million, segment revenue was down 15.6 % on the prior-year figure of € 65.1 million. As well as the project-related decrease in revenue from consulting activities, this was primarily due to the discontinuation of business activities in the areas of contract and project logistics, as well as cruise logistics. The operating result (EBIT) for 2016 included one-off effects from the termination of the lease for the Übersee-Zentrum. These were almost offset in the reporting period by expenses for provisions recognised for the discontinuation of project and contract logistics activities. The termination of the cruise logistics activities did not have any significant effect on segment earnings. Despite a positive development in the fourth quarter, the segment’s operating loss for the 2016 financial year rose to € - 1.7 million (previous year: € - 0.8 million). This was partly a result of the year-on-year decline in operating income from consulting activities and vehicle logistics.

The performance of those companies included in at-equity earnings varied. Total earnings from associates of € 3.7 million in the reporting period were up 23.6 % on the previous year (€ 3.0 million).