Logistics Segment

Key Figures

Since 2014, the key financial figures for the Logistics segment have only included the vehicle logistics, project and contract logistics, consultancy activities and cruise logistics business divisions. The results from bulk cargo and fruit logistics have been included in earnings from associates, accounted for using the equity method, since 2014 and 2012 respectively.

Segment revenue rose by 0.4 % in the first nine months to € 48.9 million (previous year: € 48.7 million). EBIT improved significantly in the reporting period to € - 0.6 million (previous year: € - 1.3 million). It should be noted that the vehicle logistics division acquired assets from the Holding/Other division in the third quarter with retroactive effect as of 1 January 2015. The segment’s EBIT improved considerably as a result of this intragroup transaction, which changed the cost structure within the vehicle logistics division. The intercompany profit resulting from the transaction was eliminated on consolidation at the level of the Port Logistics subgroup.

In the reporting period, earnings from associates were down year-on-year due to a change in disclosed taxes. On the whole, however, revenue and the operating result of companies included in this subgroup rose in the first nine months compared with the previous year.

The individual business divisions developed as follows:

After a modest first half of the year, higher container throughput saw volumes in the vehicle logistics division recover in the third quarter of 2015. At 1,133 thousand tonnes, handling (including packing) matched the prior-year level in the reporting period (previous year: 1,129 thousand tonnes). This was down 6.2 % year-on-year as of 30 June. By contrast, the number of vehicles handled was 6.5 % down on the previous year at 137 thousand (previous year: 147 thousand). Revenue also fell short of the corresponding prior-year figure. Although EBIT rose year-on-year, comparability is limited by the effect described above.

Consultancy activities recorded an increase in both revenue and EBIT over the previous year in the first nine months.

The market environment for project and contract logistics remained very challenging in the reporting period. Revenue declined in the third quarter but still exceeded the prior-year figure in the reporting period. Earnings were down on the previous year, which included income from other accounting periods.

In the cruise logistics division, the number of ship calls declined by 26.0 % year-on-year to 125 ships in the first nine months (previous year: 169). There was a corresponding fall in passenger numbers which fell by 23.4 % to 420 thousand (previous year: 548 thousand). Revenue and earnings were also down on the previous year.

At 11.2 million tonnes, seaborne handling volumes in bulk cargo logistics were up 7.1 % on the previous year (10.5 million tonnes). This was due to both ore and coal handling. Revenue and the operating result also improved compared to the prior-year period.

Volumes in the fruit logistics division declined in the third quarter. However, the figure for the first nine months of 2015 – a total of 412 thousand tonnes – was on a par with the previous year (414 thousand tonnes). Revenue and earnings exceeded the prior-year figures.