With a stable equity ratio of over 55%, Gebrüder Weiss is on course with its strategy of sustainable development. „The overall economic recovery following the crisis has doubtless fostered this welcome trend. Starting in March 2010 our order levels rebounded significantly”, said CEO Wolfgang Niessner. Consolidated turnover in the land transport area grew by 11.8% to EUR 643.8 million. All investments planned for 2010, in total EUR 20 million, were implemented and two major building projects were completed.
Consistently pursuing corporate strategies
The logistics terminal in Senec (Slovakia) commenced operation in April, and the new terminal in Sibiu (Romania) was put into service in November. Other milestones in the expansion of the network in Central and Eastern Europe are planned, including the construction of a large terminal in Prague. „However, the good bottom line is also a result of consistently pursuing our corporate strategies. This includes the consolidation or strengthening of the CEEC land transport organisation and global expansion in the Air & Sea area”, according to Niessner.
Long-term investment policy
Finance Director Wolfram Senger-Weiss added: „We wish to act and grow in a sustainable manner, which is why we are adhering to our long-term investment policy. This includes building new, modern logistics facilities as well as investing in mergers and acquisitions. In 2010 we again increased our majority interest in the former Eurocargo in Serbia, a freight forwarder that now operates under the name Gebrüder Weiss.” More good news is that cash flow has returned to the pre-crisis (2008) level of well over EUR 50 million, and the equity ratio is over 55%. Furthermore, the group‘s net product rose by 11.5% to EUR 310 million, putting it close to the 2008 level. The staff level has remained stable at 4,414 and almost reached 4,500 again by the end of the year. And in 2010, Gebrüder Weiss employed 168 apprentices and received a State Distinction Award for its extraordinary achievements in apprentice training.