Logistics Segment
in € million |
1–6 | 2016 |
1–6 | 2015 |
Change |
|||
Revenue |
27.4 |
33.1 |
- 17.4 % |
|||
EBITDA |
- 14.7 |
- 0.4 |
neg. |
|||
EBITDA margin in % |
- 53.6 |
- 1.3 |
- 52.3 pp |
|||
EBIT |
- 16.7 |
- 1.1 |
neg. |
|||
EBIT margin in % |
- 60.9 |
- 3.2 |
- 57.7 pp |
|||
At-equity earnings |
2.2 |
2.2 |
- 1.3 % |
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 at-equity earnings.
The fully consolidated companies of the Logistics segment suffered a decline in revenue during the first half of 2016. At € 27.4 million, segment revenue was down 17.4 % on the prior-year figure (€ 33.1 million) due among other things to the successive scaling back of project and contract logistics activities, this was also due to lower revenue from consulting activities for project-related reasons. The operating result (EBIT) in the second quarter was heavily impacted by one-off expenses of € 14.9 million in connection with the planned restructuring of project and contract logistics, which were thus in line with the amount announced in the 2015 Annual Report. As a result, the Logistics segment reported an operating loss of € 16.7 million in the first half of the year (previous year: operating loss of € 1.1 million). Adjusted for the one-off expenses, EBIT for the Logistics segment was still down on the previous year at € - 1.8 million. This was also attributable to delays in the awarding of consulting contracts.
The performance of those companies included in at-equity earnings varied in the first half of 2016. At € 2.2 million, on a par with the previous year.