Company Report 2014 - hoyer-group.com · Company Report 2014 HOY_GB2014_Umschlag_ENG_RZ.indd 6-8 21.04.15 16:19. Gaslog The Gaslog business unit is a de pendable logistics partner

Turnover and profits continued to grow in the

year under review. 1.1 billion euros in turnover

and 27.7 million net income show that despite

difficult market conditions we are keeping a

steady hand in the fast-paced logistics business.

HOYER is still fully family-owned and will

remain so in future. We will continue to lead

the company in the spirit of my father,

Walter Hoyer, and stick to our values. When the

company was founded in 1946 no one could

have imagined that a regional milk logistics

provider would grow to such a size. Primarily

that is because we do not distinguish ourselves

today by being successful in only one sector of

the market, but offer a unique range of services.

Our portfolio extends from worldwide chemicals

transports, food transports and gas logistics

solutions to supplying fuel to retail service

stations, airports and industrial plants. Supply

Chain Solutions is another area of business

that saw particularly positive development in

2014. On-site logistics activities, supplemented

by cleaning facilities, workshops and depots,

complement our crisis-proof diversity. The theme

of this company report draws on our diversity

and spells out how HOYER significantly shapes

people’s daily lives. Most liquid products have

been in our transport containers once before

finally reaching the end consumer.

With warmest regards from Hamburg,

Thomas Hoyer

Company Report 2014

HOY_GB2014_Umschlag_ENG_RZ.indd 6-8 21.04.15 16:19

Gaslog

The Gaslog business unit is a

de pendable logistics partner

for the European gas industry.

Its services cover the trans-

port of compressed as well as

pressur ised liquefi ed and cryo-

genic gases.

Chemilog

The Chemilog business unit

provides transport solutions

for all liquid chemical prod-

ucts, for both dangerous and

non-dangerous goods. Its

portfolio ranges from road

transport and custom logistics

concepts to rental services.

Foodlog

The Foodlog business unit con-

sists of bulk transport solutions

for liquid foods as well as the

Multilog business line, respon-

sible for all of the logistics re lated

to intermediate bulk containers

(IBCs).

Petrolog

The Petrolog business unit is

one of the largest providers of

bulk transport and logistics ser-

vices for the petroleum industry

in Europe. It delivers fuel to retail

service stations and other com-

mercial, industrial and wholesale

customers.

Deep Sea

The Deep Sea business unit is re-

sponsible for overseas activities

and transports liquid chemical

products, food, gas and petrol -

eum in tank containers and

fl exitanks.

Techlog

The Techlog business unit com-

prises the Supply Chain Solu-

tions (SCS) business line as a

supplier of value-added services

in chemical logistics and cotac

as a technical service provider.

Key Figures Business Units

HOYER GmbH

Internationale Fachspedition

Head Office

Wendenstraße 414–424

20537 Hamburg

Germany

Phone +49 40 21044 - 0

Fax +49 40 21044 - 246

Internet www.hoyer-group.com

Email [email protected]

Publishing information

HOYER GmbH


Corporate Center Marketing

Ewelina Jankowski

Janna Saul

Design: Implizit GmbH

Photography: Markus Heimbach

2014 2013 2012 2011 2010

Turnover and earnings

Turnover (TEUR) 1,106,771 1,087,048 1,033,939 1,034,589 989,812

Earnings before tax (EBT) (TEUR) 38,575 35,555 32,616 37,301 26,438

Net income (TEUR) 27,699 25,518 23,032 27,596 18,152

EBIT (TEUR) 43,908 41,500 37,943 43,905 34,114

EBITDA (TEUR) 99,276 90,986 78,463 82,090 69,559

Investments and fi nancing

Investments in fi xed assets (TEUR) 75,772 102,562 65,034 40,180 22,735

Cash fl ow from operating activities (TEUR) 76,747 71,712 61,587 61,451 43,474

Capital

Equity (TEUR) 258,083 229,216 212,549 193,900 167,638

Equity ratio (%) 42 40 40 39 36

Total assets (TEUR) 620,386 571,284 531,748 496,662 470,493

Returns

Return on sales (pre-tax) (%) 3.5 3.3 3.2 3.6 2.7

Return on capital employed (ROCE) (%) 10.7 11.1 11.2 12.9 10.2

Turnover in million euros Turnover by business unit in % (2014)

Employees

Equipment (2014)

Tank containers

Road tankers

IBCs

Truck units5,0982014

5,0672013

Deep Sea

Chemilog

Foodlog

Petrolog

Gaslog

Techlog

33,872

2,847

23,659

2,503

4

21

10

6

36

23

2012 2013 201420112010

1,0341,035990

1,0871,107

Equipment (2014)


Gaslog







genic gases.

Chemilog









Foodlog







(IBCs).

Petrolog








customers.

Deep Sea






fl exitanks.

Techlog








HOYER GmbH


Head Office


20537 Hamburg

Germany

Phone +49 40 21044 - 0

Fax +49 40 21044 - 246




HOYER GmbH



Ewelina Jankowski

Janna Saul



2014 2013 2012 2011 2010


Turnover (TEUR) 1,106,771 1,087,048 1,033,939 1,034,589 989,812


Net income (TEUR) 27,699 25,518 23,032 27,596 18,152

EBIT (TEUR) 43,908 41,500 37,943 43,905 34,114

EBITDA (TEUR) 99,276 90,986 78,463 82,090 69,559




Capital

Equity (TEUR) 258,083 229,216 212,549 193,900 167,638

Equity ratio (%) 42 40 40 39 36


Returns




Employees

Equipment (2014)

Tank containers

Road tankers

IBCs


5,0672013

Deep Sea

Chemilog

Foodlog

Petrolog

Gaslog

Techlog

33,872

2,847

23,659

2,503

4

21

10

6

36

23

2012 2013 201420112010

1,0341,035990

1,0871,107

Equipment (2014)


People

Family 2

Executive Board 4

Advisory Board 6

Numbers

Finance 8

Products

Paint 12

Beer 16

Helium 20

Kerosene 24

Business Units

Chemilog 30

Foodlog 31

Gaslog 32

Petrolog 33

Deep Sea 34

Techlog 35

Internal

SHEQ, HR, IT 38

Locations 40

01

02

03

04

05

Turnover and profits continued to grow in the

year under review. 1.1 billion euros in turnover

and 27.7 million net income show that despite

difficult market conditions we are keeping a

steady hand in the fast-paced logistics business.

HOYER is still fully family-owned and will

remain so in future. We will continue to lead

the company in the spirit of my father,

Walter Hoyer, and stick to our values. When the

company was founded in 1946 no one could

have imagined that a regional milk logistics

provider would grow to such a size. Primarily

that is because we do not distinguish ourselves

today by being successful in only one sector of

the market, but offer a unique range of services.

Our portfolio extends from worldwide chemicals

transports, food transports and gas logistics

solutions to supplying fuel to retail service

stations, airports and industrial plants. Supply

Chain Solutions is another area of business

that saw particularly positive development in

2014. On-site logistics activities, supplemented

by cleaning facilities, workshops and depots,

complement our crisis-proof diversity. The theme

of this company report draws on our diversity

and spells out how HOYER significantly shapes

people’s daily lives. Most liquid products have

been in our transport containers once before

finally reaching the end consumer.

With warmest regards from Hamburg,

Thomas Hoyer

The sustainability of economic activity is a central concern

of the family and thus also of HOYER’s corporate govern-

ance. The shareholders have always held the view that

entrepreneurship thrives on the dynamics of the market,

the courage to change and passion for the business. The

global market is almost limitless for an individual company

today. In the broad field of logistics, the focus must be pre-

cisely defined, highlighting specialisation and uniqueness.

In this respect, HOYER enjoys the advantages a family-

owned company has over a publicly traded corporation:

strategies do not have to be targeted toward maximising

shareholder value but can instead be defined for the long

term. The particular interest here lies in maintaining the

HOYER Group as an independent, family-owned com-

pany. The shareholders will also continue to be guided

by the codes of conduct set out in the family charter.

3

Left to right: Elisabeth Wetzer neé Hoyer, Thomas Hoyer, Martina Hoyer-Hertel, Annette Hoyer-Glasmacher

Establishing consistent values

01FAMILY

2

Despite a volatile market environment, there was success at

continuing to improve turnover and profits in the year under

review. HOYER distinguished itself once again, particularly

due to a strong customer focus and a basic understanding

of requirements. With continuous increases in productivity

and a powerful international network, HOYER in 2014 again

transported large quantities of a wide variety of goods,

reliably, quickly and flexibly. The further expansion of the

worldwide tank container fleet and investments in terminal

operations underscore the company’s focus on intermodal

transport. Above all success depends on qualified managers,

highly motivated staff and the proven SHEQ system. In

addition, modern information technology and professional

data management are making processes more efficient

and speeding things up. This enables both Executive Board

members to optimally control business processes and

consistently implement the long-term company strategy.

5

Left to right: Ortwin Nast (CEO), Gerd Peters (CFO)

4

Achieving constant excellence

01EXECUTIVE

BOARD

7

In the year under review, the Advisory Board consisted of two

shareholders and three external consultants. In accordance

with the family charter, the majority of the five-member

Advisory Board must always be made up of non-family mem-

bers. The members of the Advisory Board attentively watch

worldwide developments in order to identify tendencies at an

early stage. They monitor the competitive environment and

examine whether innovations or increases in productivity can

be derived from economic changes. At meetings held regu-

larly with shareholders and the Executive Board, the Advisory

Board makes recommendations and is available as an expert

discussion partner. Work is done collectively toward ensuring

that the appropriate company objectives are being pursued

and that the strategies for achieving them are formulated and

implemented. As an independent body, the Advisory Board

also oversees financial planning, capital expenditure and

personnel policy. Decisions extending beyond normal HOYER

Group operations generally require Advisory Board approval.

Left to right: Heinz Fiege, Annette Hoyer-Glasmacher, Dr. Uwe Franke, Dr. Rolf Stomberg, Thomas Hoyer

ADVISORY BOARD

6

Using collective knowledge

01

98

Persuing long-term goalsFINANCE

02 the markets in terms of possible development scenarios for

the euro zone and the unforeseeable consequences of high

national debt. Geopolitical conflicts increased uncertain-

ty. For this reason, the demand for transport services, the

core business of the HOYER Group, reacted accordingly.

Turnover

In a rather difficult macro-economic environment, the

HOYER Group recorded a 2 per cent rise in turnover

to EUR 1,107m (previous year: EUR 1,087m). Overseas

transports saw particularly strong turnover growth

(+4 per cent). The business area invested in the ex-

pansion of its tank container fleet and was able to use

its additional transport capacity to meet a significant

increase in the demand for deep sea shipments.

Gas transports also had strong turnover growth

(+5 per cent). In contrast, revenues from European chem-

ical transports were down slightly. Against the backdrop

of just a slight increase in production volumes in the

chemicals industry, it was not possible to increase chemical

transports in Europe beyond the level of the previous

The world economy continued on its path to recovery in

2014. Growth was not dynamic overall however, resulting

in expectations not being met. Compared to the world

economy, economic growth in China was still very high,

yet conspicuously below the growth rates of earlier years.

In contrast to the countries of the euro zone, Great Britain

and the USA experienced significant economic growth.

Despite economically stimulating factors, primary among

them the weakness of the euro triggered by the ECB’s ex-

pansionary monetary policy, historically low interest rates

and the fall in oil prices, no self-sustaining recovery has yet

emerged in Europe. There remained a lot of uncertainty in

Turnover: +2 %

1110

intense competitive pressure. The contribution to earnings

from the European intermodal business of a competitor

acquired in the previous year remained below expectations

in the 2014 financial year. Nevertheless, integration of the

business took a big step forward with implementation of a

new IT system. Earnings from business in Russia saw posi-

tive growth despite the political conflicts and associated

economic problems in the country. However, the volume of

business of the national subsidiary founded in 2011 is still at

a very low level. The Chemilog business unit is continuing

to concentrate on fashioning profitable growth in European

intermodal transports and the necessary further develop-

ment of the European network. The ambition is to provide

customers with the best intermodal network in the industry.

The Foodlog business unit developed very well in the

2014 financial year. Turnover from bulk transports as well

as the IBC rental and logistics business rose slightly over

the previous year (+1 per cent). The action plan to improve

earnings in the bulk business was implemented successfully

and the business area was able to get out of the red. How-

ever, earnings have not reached a satisfactory level yet.

By contrast, the previous year’s very gratifying earnings

before tax and return on sales from the IBC business saw

further improvement in the year under review. This business

line should continue to grow and expand internationally in

future. In 2014 the first activities were carried out in China.

The HOYER Group’s international presence, in particular

with regard to the Deep Sea business unit, was very helpful.

In the year under review, turnover of the

Gaslog business unit, responsible in the HOYER Group

for the transport logistics business with industrial

gases, rose 5 per cent over the previous year. The

reason for this significant increase was some special

transports, not expected to feature to the same extent

in the coming financial year, and some new business.

By expanding activities it was also possible to boost

earnings before tax above the levels of the previous year.

Supplying retail service stations for customers in

the oil industry and bitumen transports are the

Petrolog business unit’s primary activities. Due to a

currency effect, revenues in this business unit were only

marginally higher than the previous year (+1 per cent). The

British pound strengthened against the euro. Thus, when

converted to euros, turnover from logistics contracts

in the UK increased accordingly. Petrolog’s earnings

before tax rose significantly over the previous year.

In the provision of logistics services, safely controlled

and efficiently running processes are the fundamental

basis for this success. The earnings results also include

a few positive special effects that are unsustainable,

however. The mild winter had a favourable impact on earn-

ings, primarily with respect to the bitumen business.

The Techlog business unit consists of technical activities

(cleaning facilities, workshops, depots) and Supply Chain

Solutions (on-site logistics, silo logistics, filling and blend-

ing, terminals). While Techlog’s turnover remained at the

previous year’s level, earnings before tax rose in virtually

all areas of the business unit. Some loss-making activities

in technical services also saw an improvement in earnings.

It was additionally possible to compensate for slight start-

up losses incurred by a new contract business. For the

Techlog business unit there are considerable opportunities

for profitable growth in Europe and across the world.

Outlook

In 2015, despite the expected increase in economic

growth in both Europe and globally, no significant easing

of the downward pressure on prices and margins can be

assumed. The intensity of competition will remain high

and further investments in transport equipment are ex-

pected to keep transport capacities above levels required

by the market. HOYER will also be expanding its inter-

national activities and cooperation in regions of growth

in future to further strengthen its standing in the market.

EBT: +8 %

year. At the same time, downward pressure on prices

continued due to very heavy competition. Slight increases

were recorded by gas station supply and in food logistics.

Return on sales

Downward pressure on prices and margins continued in

the year under review. Many transport companies made

considerable investments in expanding their tank container

capacities, leading to overcapacity in the market. This

could not then be reduced in the 2014 financial year due to

cyclically weak increase in the demand for transport services.

Notwithstanding the tight market situation, HOYER’s

return on sales (EBT/revenue) rose to 3.5 per cent (pre-

vious year: 3.3 per cent). Thus, the goal of maintaining

a return on sales above the industry average and above

3 per cent was attained. Earnings before tax of EUR 38.6m

were both higher than forecast and above those of the

previous year (EUR 35.6m). This was the highest earnings

before tax result in the company’s history. The increase

in earnings was achieved by a further reduction of loss-

generating activities in the Petrolog, Gaslog, Foodlog and

Techlog business units. Continued falling financing costs,

margin increases from rising revenues, cost savings as well

as special factors including currency effects made a posi-

tive contribution as well. In contrast, margin erosion due to

competition meant that profits of the Chemilog and Deep

Sea business units were below those of the previous year.

Investments, cash flow and financing

Compared to the previous year, in the 2014 financial year

the HOYER Group reduced investments in property, plant

and equipment to EUR 75.8m (previous year: EUR 102.6m).

This still denotes a very high level of investment which is

significantly higher than depreciation and amortisation

(EUR 54.9m). Resources were employed to invest in the

replacement and expansion of transport equipment such as

tank containers, gas containers, road tankers and intermedi-

ate bulk containers (IBCs). In addition, as part of the growth

strategy for HOYER’s intermodal business, investments were

made in the purchase of holdings at two terminals in Europe

as well as in further development of the IT landscape. Oper-

ating cash flow of EUR 76.7m (previous year: EUR 71.7m) was

sufficient to finance investments. The company’s debt ratio

(net debt/EBITDA) was, as in the previous year, 1.5. The inter-

est cost recovery (EBITDA/interest expenditure) improved

from 15.3 in the previous year to 17.2 at present. The equity

ratio increased to 41.6 per cent (previous year: 40.1 per cent).

The business units

In 2014 turnover in overseas activities combined in the

Deep Sea business unit rose by 4 per cent over the pre-

vious year. The business unit succeeded in ensuring good

utilisation of expanded capacity resulting from major

investment in the enlargement of the tank container fleet.

The transport volume for customers from the chemicals,

gas and food sectors also rose significantly due to the ac-

quisition of new business. The flexitanks transport business

also developed favourably. There was a significant increase

in revenues from the gas container rental business as well.

A slightly stronger US dollar on average than in the previ-

ous year also had a marginally positive effect on turnover

reported in euros. This was not enough to result in earnings

growth, however. HOYER had assumed that the tough

market environment would continue in the 2014 financial

year. As anticipated, the slightly improved prospects for

economic development were insufficient to reduce exist-

ing overcapacities and lessen the downward pressure on

prices. The industry also continued investing in tank con-

tainers in the year under review. In particular, the overall

expansion of transport capacity due to new competitors

put additional pressure on prices. Consequently earnings

before tax and the return on sales of this business unit

were somewhat down but remained at a satisfactory level.

The Deep Sea business unit once again made the largest

contribution toward the HOYER Group’s earnings re-

sults. Viewed over the long term, there are considerable

opportunities for growth in this business segment due

to the increase in production volumes in the chemicals

industry, principally in Asia, the Middle East and the

USA, and the resulting increase in global transport flows.

Investments in expanding the tank container fleet as well

as the technical infrastructure required by this business,

such as cleaning facilities and depots, should further

solidify this business unit’s strong market position.

Revenues of the Chemilog business unit, in which the

European chemical logistics business is combined, re mained

marginally lower than the previous year. Due to very

moderate production growth in the European chemicals

industry, the overall number of transports could not be in-

creased. European road transports were the most affected

by the slight drop in revenues. The Chemilog business unit’s

earnings before tax and return on sales remained below

levels of the previous year. This is attributed to the lack of

growth in the demand for transport services along with

Deep Sea Turnover: +4 %

Gaslog Turnover: +5 %

We get paint on the move

03

PAINT

15

receives several coats because it is not only at the mercy of

the weather but also requires protection from corrosion

and the effects of chemicals – it usually gets treated with a

primer, followed by colour coats and pro tective varnish. The

wide variety of paints and their components required for all

sorts of purposes, especially in vehicle manufacturing, poses

a considerable logistical challenge. For this reason HOYER is

tightly integrated into the production processes of both the

automotive and paint manufacturing industries. First the

components needed for producing the paint are delivered to

the manufacturer. Then, once they are ready to use, the paint

is supplied in special containers to the automotive industry.

Absolute cleanliness is of para mount importance here be-

cause even minute specks of dust would be enough to spoil a

whole batch of paint. The exclusive use of pristine containers

is just as much a matter of course as the strict observation of

high standards of loading, unloading and cleaning or respon-

sible handling of what is a hazardous substance. For HOYER,

implementing and con stantly improving transnationally

applied safety standards is part of the process. Thus, HOYER

helps the auto motive industry deliver vehicles that sparkle

in every im aginable special and standard colour range –

day in, day out.

14

How paint gives cars their sparkle

03PAINT

Sensitive surfaces need protection from the wear that re-

sults from use and the effects of weather. The commonest

way of providing it is to use paint. Available in liquid, paste

or powder form, paints and varnishes can be applied as

coatings to many different types of materials, such as metal,

wood or plastic. Paint gets its colour from pigments. It also

contains solvents and binding agents as well as additives and

fillers that enable it to be used for the intended purpose. One

of their most important functions is to ensure that painted

and varnished surfaces keep their shine long term. This is es-

pecially important in the automotive industry, where it plays

a central role in helping vehicles retain their value. Bodywork

We transport cultural heritage too

03

BEER

19

ingredients of the popular brew adhering to the bubbles

of gas as they rise, forming a foamy white head. It not only

makes the beer look appetising, it is also a clear indication

of quality, as it is only when the brewer gets everything

right that the beer looks good in the glass. The fine balance

of a high-quality brew is also what makes it very sensitive,

posing a challenge to transport. Approximately 177 billion

litres of beer are consumed worldwide every year, and in

order for it to taste the same as when it left the brewery,

wherever in the world it is drunk, real specialists are called

for. For this, HOYER relies on its specially developed tank

containers, combining transport routes optimised for costs

and time. Electronically controlled, they always keep the

perfect temperature, no matter whether the route to the

destination passes through the freezing cold or sweltering

heat. Each transport by road, rail or sea is carefully moni-

tored en route by the company’s logistics experts, using

GPS and of course in compliance with the highest safety

and strictest hygiene standards. Immediately the beer is

brewed, HOYER unfailingly shoulders the not inconsid-

erable responsibility of ensuring that everyone can enjoy a

decent head on their beer, even when demand is at its peak.

18

How beer gets its head

03BEER

It fizzes, refreshes and quenches thirst like no other bev erage

and that is probably why it is just about the world’s most

popular drink. Beer has so many varieties, so many different

flavours, from bitter to tangy, full-bodied to malty and as

sweet as honey. And yet there is something they all share:

pour beer into a glass and the white foam slowly forms into

an attractive head, making you want to overflow with joy,

or rather with anticipation of the first refreshing gulp. But

why does beer have a head? The secret lies in the brewing

process. During fermentation, water, malted barley, hops

and yeast produce carbon dioxide in addition to alcohol. This

is what comes to the surface when the beer is poured, with

We are buoyant about our deliveries

03

HELIUM

23

To get the helium safely to where it is urgently needed, HOYER

undertakes one of the most challenging tasks in transport

logistics – as one of only a few operators on the international

market with the know-how required for dealing with one

of the world’s most expensive, and non-renewable, natural

resources. It is thus vital to ensure that not even the

smallest quantity of this precious cargo is lost en route. As

helium is extremely volatile, it is liquefied immediately after

extraction. Super vacuum-isolated tank containers with a

capacity of up to 42,000 litres safely enclose it and ensure

constant temperatures far below its boiling point. For if

the temperature were to rise, liquid helium would revert

to a gas, the pressure in the tank container would increase

and the safety valves would be activated. State-of-the-art

tracking and tracing systems help HOYER’s logistics experts

carry out intermodal transports to all destination points,

especially to the USA, Asia and Europe, reliably, safely and

on time. Thus, when it comes to providing the noble gas

for important applications, HOYER gives a lift to major

gas suppliers in the extraction of helium in far-off regions.

22

What gives helium balloons their lift

03HELIUM

As one of the seven noble gases in the periodic table of

elements, helium has some very special properties. The

second-most abundant element in the universe after hydro-

gen is also the coldest substance on earth. Its boiling point

is minus 269 °C. It is colourless, odourless, tasteless and

non-toxic, but more importantly, it is lighter than air. This is

why balloons filled with helium rise. However, the gas, which

is extracted from just a few helium-rich natural gas sources,

primarily in Russia, Algeria, Qatar, Poland, Australia and

the USA, finds a use in more than just colourful balloons. In

many fields of medicine, industry and research throughout

the world it is indispensable in both gaseous and liquid form.

We stay grounded so others can soar

03

KEROSENE

27

altitudes and related outside temperatures require kerosene

whose grades vary by the additives used. More than one

billion litres are consumed each day by the aviation industry

throughout the world. So a virtually guaranteed availability

of aviation fuels is critical to keeping very expensive aircraft

fully fuelled and able to fly at all times. Using special aviation

fuels tankers, HOYER ensures that the required quantities

and grades of jet fuels are delivered to many international

airports across Europe in time, and in the perfect condition

always required. Both single and multi-compartment road

tankers are used, depending on whether a large quantity of

kerosene or smaller amounts of different grades are being

transported. Sophisticated IT solutions support the manage-

ment of the logistics process, monitoring stock levels and

product usage, automatically indicating what quantities and

at which times deliveries are needed. HOYER also provides

a twenty-four-seven air-side aircraft re-fuelling service at

sev eral airports across Europe. Each delivery tanker is fitted

with pumping and volume measuring equipment and with

essential specialist devices to regularly test the product

which cannot be allowed to become contaminated or fail in

operation. This is how HOYER sustains heavily used air traffic

and ensures that planes roll onto the runway on schedule.

26

How kerosene sustains air traffic

03KEROSENE

As one of the world’s major sources of energy, crude oil is

refined into a variety of petroleum products used as fuel

for virtually every means of travel and transport. Fractional

distillation separates and refines crude oil into different

types of hydrocarbons, each with its own boiling point. This

is how petrol, paraffin and diesel fuel are produced. For

the most part, the kerosene required by aviation engines

differs from paraffin by the addition of anti-static agents,

emulsifiers and corrosion protectors. Kerosene used in the

airline industry has evolved as the key fuel for aircraft jet

engines because of its good combustion characteristics, high

energy value and high freezing point. The different flying

Meeting diverse challenges

04

BUSINESS UNITS

The Foodlog business unit consists of bulk transport solu-

tions for liquid foods as well as the Multilog business line,

responsible for all of the logistics related to intermediate bulk

containers (IBCs).

The bulk sector develops custom-fit logistics concepts for

the food industry that comply with the strictest hygiene

re quirements. Its tank containers and road tankers are

em ployed exclusively for foodstuffs. Excellent technical

equipment, such as short outlets, high-performance pumps,

heaters and agitators, ensure that all quality specifications

are fulfilled.

In the year under review, the bulk business put 70 new cool-

ing/heating tank containers into operation. With a volume

of 24,000 litres, the units possess top-quality insulation,

complete ground control and modern heating systems. The

new equipment enables the significantly increased demand

for temperature-controlled transport to be met.

With the IBC, Multilog provides an ideal alternative to the

barrel and road tanker. Services on offer include rentals,

fleet management, cleaning, maintenance and repair as well

as transport. Multilog is able to provide all of these options

either individually or in combination as customised service

packages, drawing on a European network, comprehensive

communication systems and an efficient infrastructure.

In 2014 Multilog expanded its IBC capacity to a total of more

than 23,600 containers. The fleet is made up primarily of

standardised IBC types; however, special small tanks are

developed to meet individual customer preferences.

In the year under review, Multilog also expanded its IBC

activities in China. As part of this, a new IBC type was

introduced for the business line. The stainless steel metre

cube containers have a volume of 1,000 litres and feature a

lightweight and especially low design.

31

Cleanly conceived

04FOODLOG

The Chemilog business unit provides transport solutions for

all liquid chemical products, for both dangerous and non-

dangerous goods. Its portfolio ranges from road transport

and custom logistics concepts to rental services. The focus

is on intermodality as an environmentally-friendly and re-

source-saving method of transport. The business unit’s own

fleet of trucks, chassis, tank containers and road tankers

enables a smooth transport process. Chemilog controls

all operations centrally and has one of the industry’s best

networks in Europe. In the year under review, a new director

of the Chemilog business unit was appointed. The new

manager’s task is to continue the expansion of this successful

area of operations.

In 2014 the business unit put into operation a training

contain er developed in house. The three-compartment swap

body tank is 7.15 metres long and will be used at training

courses, presentations and trade fairs and is also being made

available to public bodies such as the police, fire brigade and

inspection agencies. The tank container is comprehensively

equipped to enable the realistic simulation of routine activ-

ities such as loading, un loading and cleaning.

In the year under review, Chemilog also introduced an

e-learning programme on the subject of dangerous goods.

This enables both commercial and industrial staff worldwide

to expand their knowledge of hazardous materials trans-

portation online. The e-learning programme consists of six

units and teaches the most important provisions of the law

governing dangerous goods.

In 2014 Chemilog invested in trucks conforming to the Euro 6

standard, facilitating the sustainable management of its

fleet. The environment in particular will benefit from the

consistent conversion of vehicles to state-of-the-art engine

technology combined with the use of electronic driving

and monitoring assistants as well as regular staff training in

extremely fuel-efficient driving.

30

Flexibly resolved

04CHEMILOG

The Petrolog business unit is one of the largest providers of

bulk transport and logistics services for the petroleum in-

dustry in Europe. It delivers fuel to retail service stations and

other commercial, industrial and wholesale customers, jet

fuel to airports and into aircraft, and lubricants to industrial

plants. It also transports bitumen for the road building and

construction industries. Petrolog focusses on providing the

flexibility and adaptability to handle a wide variety of fuels

distribution needs whilst delivering the highest standards of

customer service performance.

In the 2014 financial year some existing major oil company

customers extended their contracts with Petrolog to deliver

fuel. The business unit used the contract extensions as the

occasion to update its fleet and invest in new low-emission

Euro 6 trucks.

In addition, a number of customers agreed to outsource their

entire fuels logistics process to Petrolog in the year under

review. The business unit offers the full range of services to

customers, beginning with resource-only contracts all the

way through to full-service logistics solutions. This includes

the holistic management of stocks, order taking, vehicle

plan ning and dispatching, with delivery confirmation and

stock reconciliation completing the process, allowing

customers to concentrate on their core business. Petrolog

also strongly developed a non-dedicated shared-user fuels

fleet which provides flexibility and synergies in a combined

planning process, for multiple clients.

The business unit also took the decision, after 15 years

of full ownership of specialist bitumen logistics provider

Scharrer & Andresen, to adopt the corporate brand identities

in 2014. As a result Scharrer & Andresen GmbH has now been

renamed HOYER Bitumen-Logistik GmbH. The rebranding has

no effect on the strategy for the bitumen logistics market-

place, the people or the business models and methods of

operation. Gradual rebranding of the entire fleet has already

begun.

33

Dependably supplied

04PETROLOG

32

Completely moved

04GASLOG

The Gaslog business unit is a dependable logistics partner for

the European gas industry. Its services cover the transport of

compressed as well as pressurised liquefied and cryogenic

gases. Gaslog is in close contact with customers as well

as manufacturers in order to share their experiences and

exchange new information on a regular basis. This ensures

that state-of-the-art equipment for gas transport – such as

trucks, tank containers, road tankers and equipment for the

transport of gas cylinders – is always available.

In the year under review, the business unit was able to extend

a number of contracts with clients as well as win several bids,

including for the export of gas cylinders. As part of this, the

business unit invested in more than 20 new trucks complying

with the environmentally-friendly Euro 6 standard. Some of

them are equipped with special load-securing systems.

In 2014, in close collaboration with customers, Gaslog

significantly expanded the area of intermodal transports,

in particular of liquid natural gas and air gases. As a result,

customers can profit from the business unit’s many years of

experience and strategic economies of scale for their own cli-

ents. Additionally, Gaslog invested in new LNG road tankers

to better meet the rising demand for liquefied natural gas

on the European market. The benefits of LNG lie in its high

energy density combined with clean-burning properties.

In the year under review, the business unit was given a very

special job. For tests in the automotive industry, hydrogen

had to be transported to Sweden and Norway. Thus, Gaslog’s

highly-qualified professional drivers were on the road above

the Arctic Circle to fill special hydrogen-powered vehicles.

This was not just an unusual event for the drivers and plan-

ners; it was a special occasion for the customers too.

The Techlog business unit comprises the Supply Chain Solu-

tions (SCS) business line as a supplier of value-added services

in chemical logistics and cotac as a technical service provider.

Both divisions work closely together, but are independent

from one another on the market.

SCS’s wide-ranging portfolio of services takes in on-site

logistics, filling and blending liquid chemical products, the

operation of intermodal terminals and dangerous goods stor-

age facilities, and dry bulk logistics. All services are offered in

full and combined to create synergies for all customers. SCS

also provides the logistics infrastructure for this in line with

demand.

SCS won significant tenders in on-site logistics in 2014. In

addition to internal plant transports, the business line will

also assume management of shipments, securing loads and

dispatch, incoming goods inspections and discharges as well

as filling products into a variety of transport containers such as

IBCs, tank containers and rail tank cars.

In the year under review SCS also invested in further holdings

at intermodal terminals in order to systematically expand the

HOYER Group’s pan-European network in combined inter-

modal transport.

cotac is strategically positioned as a neutral provider of tech-

nical services in the bulk logistics market for liquid goods.

Its tank cleaning facilities, workshops and empty container

depots are based in the centres of the European chemicals

industry. The locations are thus situated in close proximity

to customer traffic flows. cotac cleans and repairs all con-

ventional tank containers, road tankers and intermediate

bulk containers (IBCs) for the chemicals and food product

sectors. Aside from container storage, depot services also

include heated spaces and the provision of auxiliary and

supplementary equipment.

In 2014 cotac streamlined its portfolio, optimised internal

logis tics processes and invested in heavy transhipment ma-

chin ery such as container carrier trucks to increase capacity.

35

Seamlessly integrated

04TECHLOG

The Deep Sea business unit is responsible for overseas activ-

ities and transports liquid chemical products, food, gas and

petroleum in tank containers and flexitanks. Through its glo-

bal network of branch offices and agents, Deep Sea is able to

quickly and flexibly respond to a variety of customer requests.

The business unit satisfies the steadily growing demand for

tank containers with a high number of new builds. This ensures

both continuous availability and competitive prices.

In the year under review, Deep Sea expanded its fleet of tank

containers to over 18,000 units. The business unit also placed

additional new orders for the coming years from leading

manufacturers. The expansion of transport equipment has

created the foundation for future growth in the area of inter-

modal transport. Tank containers with a volume of 26 cubic

metres in particular are experiencing increasing demand on

the transport market.

Deep Sea also used 2014 to make two strategically important

acquisitions. Firstly, in order to create competitive advan-

tages, the business unit decided to acquire all shares of the

joint venture in charge of overall flexitank production. Flexi-

tanks have a capacity of 16 to 24 cubic metres and are par-

ticularly well-suited for transporting liquid non-haz ardous

chemicals and foods. The production facility is located in

Southeast Asia and full ownership allows the business unit

better quality control and gives pricing flexibility to ensure

continued growth in both manufacturing and transport

services.

Secondly, in 2014 Deep Sea acquired the workshop located

at the HOYER-owned depot yard in the USA. All repair and

maintenance work on tank containers had already been taking

place there for many years. This acquisition gives the business

unit even more flexibility in coordinating workshop services.

34

Globally connected

04DEEP SEA

3736

Creating a safefuture

05

INTERNAL

3938

Successfully committed

05SHEQ, HR, IT

than fulfil customer requirements in all areas of activity.

Results show that the culture of safety has been firmly

established at the company. In the year under review, there

was success in significantly reducing the rate of incidents.

Personal injuries were succesfully reduced by 24 per cent in

the transport sector and by 22 per cent in the non-transport

sector.

The number of main incidents fell by 21 per cent in com-

parison to the previous year. In 2009 the HOYER Group set

itself the goal of reducing main incidents by 50 per cent by

2020. This intention will be supported by extensive reporting

campaigns about narrowly avoided accidents. Near-miss

reports can be used by staff to point out potential sources of

danger and thus prevent accidents from occurring. In 2014

the Group SHEQ department also initiated a worldwide

safety campaign. As part of this programme, staff are made

aware of how quickly trips, slips and falls can occur at the

workplace and how they can be avoided.

Human Resources

In a global organisation such as the HOYER Group, people

must be recruited for the wide variety of tasks and qualified

for work in an international context. For this reason, a key

role is played by precise recruitment and the development

and retention of motivated employees. For the commercial

positions at HOYER there are group-wide competence

profiles which clearly define the qualification requirements

of each employee. In 2014 additional measures derived

from the results of an employee survey were initiated to

improve the appeal of the company as an employer. In

this context, the career portal on the company website

was also revised. The aim was to develop a new structure

more strongly highlighting the special features of HOYER

as an employer. A further contribution toward increasing

em ployee motivation and team spirit in the organisation

was the introduction of a group-wide health management

system. Particular focus was placed on getting more exer-

cise on a daily basis. In addition, in the year under review

HOYER for the first time offered interesting ways of making

working life more flexible in the form of paid leave. The use

of life accounts allows employees to take early retirement,

for instance, or to opt for a sabbatical.

Information Technology

In 2014 a module for processing intermodal transports and

a graphical planning program were added to the transport

management system developed in house for the Chemilog

business unit. This lays the foundation for further steps

toward automated planning and an optimisation of empty

freight runs. All business units have transport management

systems that are customised for their business activity.

Combined with a uniform IT landscape in the HOYER Group

for finance and accounting, the document management

system and electronic data exchange with suppliers and

customers form the basis of an integrated IT strategy.

The consolidation of the IT infrastructure at all locations

has also progressed. The focus is on adopting uniform

IT security in addition to standardising servers and end

devices. There is a general focus on IT security at HOYER.

In an annual audit it was again confirmed that the handling

of IT operations is secure and state-of-the-art. In the year

under review, cotac put a new enterprise resource planning

system into pilot operation. It integrates seamlessly with

the existing tech nical environment and optimises the

cleaning, workshop and depot processes. In the area of

cloud computing, HOYER continued to rely on a hybrid

technological approach in 2014. The majority of services

are provided by a global data centre. However, new com-

munications software and selected transport management

systems were designed as purely cloud-based services. The

topic of Industry 4.0 was covered by the further integration

of vehicle on-board computers into the IT landscape. Pilot

projects in the field of permanent monitoring of tank con-

tainers using GPS modules for determining location as well

as measuring temperature and pressure were carried out

and will be expanded in the future.

The HOYER Group has set itself the task of creating a height-

ened awareness of safety throughout the company. The

group-wide SHEQ system is concerned with safety, health,

environment and quality.

Its aim is to reduce the number of incidents, injuries,

failures and complaints to a minimum by professional and

qualified action. Performance and efficiency are to be

maximised at the same time. Economic success depends on

top-notch employees. They form the basis for expansion of

the international logistics business. The Human Resources

corporate centre (HR) actively promotes qualified people

based on performance to further bolster the competitive

position of the company. HOYER also gains a competitive

advantage from high-tech IT systems. The Information

Technology corporate centre (IT) provides individual

support for application systems and IT infrastructure to all

business divisions. Regularly upgrading the IT landscape

ensures that even the most demanding logistics require-

ments are flexibly met.

Group SHEQ

Within the HOYER Group, major importance is at-

tached to compliance with the highest safety, health,

environmental and quality (SHEQ) standards. With its

commitment to ensuring the continuous improvement

of SHEQ principles, the company is also creating a

foundation for the sustainability of its business. The

success of SHEQ activities is measured by employing a

variety of distinct key performance indicators (KPIs).

The focus includes promoting the well-being and profes-

sional skills of employees and providing a healthy working

environment.

Furthermore, the aim is to minimise the impact of

operation al procedures on the environment and to more

The number of main incidents has fallen.Number of incidents

6887

2012

86

2013 2014

Health

Quality

Environment

Safety

Personal injuries in the transport sector have been reduced.Personal injuries per million kilometres

0.22

2012

0.25

2013

0.19

2014

Personal injuries in the non-trans-port sector have diminished.Personal injuries per 10,000 working hours

0.79

2012

0.69

2013

0.54

2014

HOYER Belgie N.V./Antwerp HOYER Slovenská rep. s.r.o./Bratislava HOYER Bulgaria EOOD/Burgas HOYER Italia S.r.l./Busto Arsizio HOYER Global Transport FZE/Dubai HOYER Ireland Ltd./Dublin HOYER Danmark A/S/Fredericia HOYER Türkiye Ltd./Gebze HOYER Norge AS/Gothenburg HOYER Svenska AB/Gothenburg HOYER GmbH

Internationale Fachspedition/Hamburg HOYER Finland OY/Helsinki HOYER Global (USA) Inc./Houston HOYER UK Ltd./Huddersfield

HOYER Polska Sp. z o.o./Katowice HOYER Luxembourg SARL/Kehlen HOYER Baltic Expedition UAB/Klaipeda HOYER (Svizzera) SA/Mendrisio HOYER Ukraine TOV/Odessa HOYER Nederland B.V./Rotterdam HOYER France S.A.S./Rouen HOYER Slovenija d.o.o./Ruse HOYER Global (Brasil) Ltda./São Paulo HOYER Sinobulk Transport Co. Ltd./Shanghai HOYER Global Singapore Pte Ltd./Singapore OOO HOYER RUS/St. Petersburg HOYER Hungária KFT/Szombathely HOYER España S.A./Tarragona HOYER Austria GmbH/Vienna

40

Globally present

05LOCATIONS

Gaslog







genic gases.

Chemilog









Foodlog







(IBCs).

Petrolog








customers.

Deep Sea






fl exitanks.

Techlog








HOYER GmbH


Head Office


20537 Hamburg

Germany

Phone +49 40 21044 - 0

Fax +49 40 21044 - 246




HOYER GmbH



Ewelina Jankowski

Janna Saul



2014 2013 2012 2011 2010


Turnover (TEUR) 1,106,771 1,087,048 1,033,939 1,034,589 989,812


Net income (TEUR) 27,699 25,518 23,032 27,596 18,152

EBIT (TEUR) 43,908 41,500 37,943 43,905 34,114

EBITDA (TEUR) 99,276 90,986 78,463 82,090 69,559




Capital

Equity (TEUR) 258,083 229,216 212,549 193,900 167,638

Equity ratio (%) 42 40 40 39 36


Returns




Employees

Equipment (2014)

Tank containers

Road tankers

IBCs


5,0672013

Deep Sea

Chemilog

Foodlog

Petrolog

Gaslog

Techlog

33,872

2,847

23,659

2,503

4

21

10

6

36

23

2012 2013 201420112010

1,0341,035990

1,0871,107

Equipment (2014)


Documents

Company Report 2014 - hoyer-group.com · Company Report 2014 HOY_GB2014_Umschlag_ENG_RZ.indd 6-8 21.04.15 16:19. Gaslog The Gaslog business unit is a de pendable logistics partner