Hoyer boosts revenue by 11.6% in 2004

Aug. 1, 2005
Although general market conditions remained difficult, the Hoyer Group, based in Hamburg, Germany, once again made progress and increased its total revenue

Although general market conditions remained difficult, the Hoyer Group, based in Hamburg, Germany, once again made progress and increased its total revenue in 2004 by 11.6% to 729.7 million euros (previous year: 653.4 million).

Earnings before income tax rose from 8.3 to 8.7 million euros. In the current year, Hoyer expects a further revenue increase.

The profit-revenue ratio of 1.2% were below expectations, and board spokesman Thomas Hoyer cited three reasons for this. First, the international chemical and food business continued to trade under enormous competitive pressure, resulting in reduced profit margins, while the volume and revenue remained stable. In addition, rising fuel prices drove up costs, and finally, the weak United States dollar led to a distinct decline in overseas profits. Thomas Hoyer announced that the company intends to cut 20 million euros from its cost base by the year 2007 in order to achieve a pre-tax profit of 2.5%.

Now operating almost 8,500 tank container in overseas business and another 5,600 units in Europe, Hoyer has advanced to become the second largest tank container operator in the world. The number of tank container transports has already reached a new record, with a gain of 20%. To cope with the expected growth within this new business unit, another 1,100 units were ordered from the South African manufacturer, having already placed an order for 2,000 units in 2003.

In Germany, storage facilities for hazardous products in Dormagen have been extended considerably. By offering storage for 300 loaded tank containers and 8,900 tons of hazardous products, the Rhine/Ruhr Logistics Centre almost doubled its original capacity.

On the grounds of the ValuePark at the Dow Olefinverbund GmbH facilities in Schkopau, Hoyer will construct and operate a new intermodal terminal, bolstered by a 10 million euro investment. The first phase of construction will include the terminal grounds, including an area for hazardous products, an office building, and two parallel rail tracks, each with a container bridge for handling containers and swap bodies.

The operational start-up is planned for December 2005; two further stages of expansion are planned to go into operation by 2010. Maximum handling capacity will then be 48,000 units. Investments in 2004 totaled almost 40 million euros.