company report 2014 - hoyer-group.com · company report 2014 hoy_gb2014_umschlag_eng_rz.indd 6-8...
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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
Internationale Fachspedition
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)
HOY_GB2014_Umschlag_ENG_RZ.indd 10-11 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
Internationale Fachspedition
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)
HOY_GB2014_Umschlag_ENG_RZ.indd 10-11 21.04.15 16:19
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
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
Internationale Fachspedition
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)
HOY_GB2014_Umschlag_ENG_RZ.indd 10-11 21.04.15 16:19