Logistics segment

The key financial figures for the Logistics segment include the vehicle logistics, consultancy and airborne logistics services divisions. Since the third quarter of 2019, the new division of additive manufacturing technologies and related logistics services has also been included. The results from dry bulk and fruit logistics are included in at-equity earnings.

The fully consolidated companies reported revenue of € 59.0 million, down 1.4 % on the prior-year figure (previous year: € 59.8 million). The decrease is largely due to a significant decline in vehicle logistics, which benefited from temporary additional business in the fourth quarter of 2018. By contrast, revenue from consultancy showed strong growth due to a positive order situation.

At € 2.5 million, the operating result (EBIT) fell 55.1 % short of the previous year’s figure (previous year: € 5.6 million). In addition to decreased earnings from vehicle logistics as compared with an unusually strong previous year, earnings were affected by future investments in new growth areas. The application of IFRS 16 had no significant effect on the development of the operating result.

Revenues of those companies included in at-equity earnings decreased significantly in the reporting period. Total at-equity earnings for 2019 as a whole were 12.1 % below the very good prior-year figure at € 3.9 million (previous year: € 4.4 million). In addition to a decrease in fruit logistics, there was also a significant burden on earnings from bulk materials handling resulting from the initial application of IFRS 16.