Logistics Segment
in € million |
1–9 I 2016 |
1–9 I 2015 |
Change |
|||
Revenue |
40.5 |
48.9 |
- 17.1 % |
|||
EBITDA |
0.4 |
2.5 |
- 83.2 % |
|||
EBITDA margin in % |
1.0 |
5.1 |
- 4.1 pp |
|||
EBIT |
- 2.6 |
- 0.6 |
neg. |
|||
EBIT margin in % |
- 6.4 |
- 1.3 |
- 5.1 pp |
|||
At-equity earnings |
3.0 |
2.7 |
8.1 % |
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.
Revenue generated by the consolidated companies of the Logistics segment declined in the first nine months of 2016. At € 40.5 million, segment revenue was down 17.1 % on the prior-year figure (€ 48.9 million). In addition 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 third quarter of 2016 included one-off effects from the termination of the lease for the Übersee-Zentrum. These were offset in the reporting period as a whole by expenses for provisions recognised in the second quarter for the discontinuation of project and contract logistics activities, which is now largely complete. Compared with the previous year, the segment’s operating loss grew to € - 2.6 million in the first nine months (previous year: € - 0.6 million). This was partly a result of the year-on-year decline in operating income from consulting activities and vehicle logistics.
The companies included in at-equity earnings turned in a mixed performance. At-equity earnings totalled € 3.0 million in the reporting period, up 8.1 % on the previous year (€ 2.7 million).