- Group sales stable at EUR 1.2bn
- Solid income development in the CONTAINER and AUTOMOBILE Divisions, difficult economic climate for the CONTRACT Division
- Group EBT of EUR 91.8m
- One-off effects compensate for volume decreases
Bremen, April 29, 2025 – At today's Annual Report Press Conference the Board of Management of BLG LOGISTICS GROUP AG & Co. KG presented the results for financial year 2024. Despite economic turbulence, geopolitical crises, and structural disruptions, the BLG Group was able to close the year with an improved result compared to the previous year. Group sales remained stable at EUR 1.2bn.
Opening the Annual Report Press Conference in Bremen, BLG Group Chief Executive Officer (CEO) Matthias Magnor stated: “In particular thanks to the positive developments in the CONTAINER and AUTOMOBILE Divisions, we were able to achieve total earnings before tax of EUR 91.8m. That is a solid result.”
The three operational divisions of the BLG Group – AUTOMOBILE, CONTRACT, and CONTAINER – developed very differently in financial year 2024. Despite declining vehicle volumes, the automobile logistics segment again increased its profits. Alongside good performance in technical services, unexpected special projects and out-of-period income affected earnings. The CONTAINER Division profited from special effects and increased handling volumes. However, contract logistics fell significantly short of expectations, suffering noticeable consequences from the crisis in the German automotive industry as well as the challenging overall economic situation.
AUTOMOBILE DIVISION: Improved result and investment in new inland terminal
The AUTOMOBILE Division achieved a better result in 2024 than in the previous year. Sales increased by 7.1 percent to EUR 687.5m (previous year: EUR 641.8m). However, the volumes in vehicle handling and transport remained below expectations and below the previous year. This was due to the economic situation and the challenges faced by automotive manufacturers. The BLG Group handled, transported, or technically processed a total 4.4 million vehicles in its AUTOMOBILE network in the reporting year.
The BLG AutoTerminal Bremerhaven handled 1.3 million vehicles, which was just under 15 percent fewer units than in the previous year. Higher earnings in transport as well as an increased demand for technical services, plus various special effects compensated for the reduced volumes. The BLG inland terminals exceeded their target result thanks to a consistently high area capacity utilization and a high depth of value achieved by technical services.
Against this background, the decision to build another inland terminal in Ahlhorn in 2024 represented a strategic milestone. On an area of some 355,000 m², a site is currently being developed with capacity for around 15,000 vehicles – including handling and technical services. “Automotive manufacturers are increasingly outsourcing more activities to us as a service provider. That already had a positive impact in the reporting year. We see an opportunity to further expand this business at our terminals,” explained Axel Krichel, Member of the Executive Board & Chief Operating Officer (COO).
CONTRACT DIVISION: Difficult business environment and gloomy prospects
In the reporting year, the difficult overall economic situation and a downturn in vehicle component and industrial logistics business impacted sales revenue and earnings in the CONTRACT division. Earnings decreased by EUR 33.5m to EUR 535.6m (previous year: EUR 569.1m). Currently there is no sign of a market recovery in the short term.
Yet, even in these challenging times, BLG succeeded in attracting new customers and expanding business with existing customers. The company also concluded a contract with a major German cosmetics producer.
CONTAINER DIVISION: Strong income from investments and positive outlook
In 2024, the CONTAINER division contributed decisively to the successful overall result of the BLG Group. The result from at-equity accounted investment in EUROGATE contributed to the group result with a sum of EUR 61.2m. That is equivalent to a 12-percent increase on the previous year.
The strong result is based on a 10.2-percent increase in sales across the terminals in the EUROGATE network. Earnings were boosted not only by one-off balance sheet effects, but also by the crisis in the Red Sea which disrupted shipping schedules and increased storage fees and reefer income.
“We achieved a very good result in 2024 – thanks to our strong network, high handling figures, and determined implementation of our strategic measures. At the same time we know that the market remains volatile and we must continue to work systematically on our future viability,” said Michael Blach, Member of the Executive Board and Head of the Division CONTAINER.
In 2025, a growth in volume is forecast for Bremerhaven and a stable volume for Hamburg. In Wilhelmshaven – with Hapag-Lloyd as a new co-partner – the EUROGATE Group expects significant growth and a positive development.
Sustainability: Climate goal ramped up
The BLG Group further optimized its sustainability management in the reporting year. The goals formulated in the previous year were anchored more strongly in the company. A new double materiality analysis confirmed the defined focus issues.
In its “Mission Climate” strategy, the company exceeded its target for 2024 – a 15-percent reduction in carbon emissions compared to 2018 –with a value of 17.4 percent. BLG LOGISTICS has set itself an even more ambitious goal for the future: a 50.4-percent reduction in emissions by 2030. That requires an annual reduction by 4.2 percentage points. “Our success in cutting our carbon footprint even faster proves we're on the right path. Now we want to keep up the pace and continue to push for our ambitious climate goals,” explained Christine Hein, Member of the Executive Board & Chief Financial Officer (CFO).
BLG LOGISTICS as an employer
On average in the reporting year, the fully consolidated companies of BLG LOGISTICS provided 9,564 jobs (11,119 jobs with EUROGATE). The majority of the workforce (92.2 percent) have unlimited employment contracts. The training quota increased to 2.3 percent, which was already above the sustainability goal for 2025 (at least two percent). The company trained a total of 207 trainees in commercial and technical professions.
Prospects for 2025: Cautious optimism
Although the framework conditions remain challenging, the Board of Management of the BLG Group is cautiously optimistic about the current year. A large number of new opportunities are arising due to the transformation of the energy and automobile industries, new shipping line consortia, and international partnerships.
“In a dynamic environment, we offer our customers the proverbial safe haven. For almost 150 years, we have lived and worked under many different political and economic influences. And we will also overcome the current challenges with vigilance, flexibility, and agility. Above all we will continue to listen closely and respond to our customers’ interests and wishes. It is important that we remain alert so that we can identify and utilize opportunities. We have the foresight to anticipate the pressure of change and to respond by adjusting to new circumstances. This is a major strength of BLG,” said CEO Matthias Magnor, wrapping up the Annual Report Press Conference.
Further information on the annual press conference and images can be found in our digital press kit.
The entire BLG Annual Report 2024 with the motto ‚Dynamic“ is available under this link: BLG Annual Report 2024.
