Through good management practice and a robust business portfolio, the family-owned bulk logistics provider also saw an operating cash flow of Є92m, compared with the previous year’s Є82.8m.
Starting 2020 with reduced demand in transport logistics for European service station and airport supplies, the company managed to adapt by focusing on their international potential. This allowed the company a degree of business stability, choosing to focus on high-demand areas such as overseas logistics, workshops, disinfectants, oxygen, and dry ice.
Gerd Peters, Chief Financial Officer of the HOYER Group, said, “The global economic and health crisis in 2020 confronted the economy and industry with hitherto unknown new challenges.”
“Increased efficiency, agile operational management, optimised utilisation of our fleet’s capacity, and conscious cost management enabled altogether very good, stable liquidity and credit rating.”
In addition to its solid financial performance, HOYER also managed to utilise its crisis management skillset to carry out strategic investments, including an acquisition in Asia to strengthen the network for technical services.
Taking advantage of further investment opportunities, HOYER upgraded its container fleet to the sum of Є76m, installing special coatings and fitting tank containers with sensor systems.
With a plan to digitally equip the entire tank container fleet by 2021, they also invested in the site equipment of the Supply Chain Solutions growth segment.
Speaking about the efforts of HOYER, Björn Schniederkötter, CEO of the HOYER Group, said, “HOYER proved absolute reliability and flexibility in all the areas of logistics. We did not allow any trade-offs in the quality of service for our customers – which was always fully maintained even in relation to orders at short notice, thanks to the tireless efforts of our workforce.”
Ensuring the safety of their staff during the pandemic, the HOYER Group defined extensive measures and action plans for the workforce. These measures ensured a low infection rate within the company.
As economic impacts persevere in 2021, Schniederkötter added, “We have shown that we can respond to situations very well, and that we have established, reliable processes at our disposal and are thus well equipped. We are in a position to act quickly and flexibly.”
With an equity ratio rising to 44.5% and earnings before taxes amounting to Є34m, HOYER Group continue to mitigate its losses and maintain solid results.