BLG Logistics Group Reports 933.6% Sales Surge in Automobile Division
BLG Logistics Group has reported a significant increase in sales for its Automobile division, driven by transport and storage revenues. The group also saw a rise in high and heavy cargo throughput at Bremerhaven, while its contract logistics sales also grew. Meanwhile, the Container division reported a decrease in sales.
The Automobile division's sales surged by 933.6% to €641.9m ($687.2m), marking a substantial growth. This was supported by an increase in high and heavy cargo throughput at Bremerhaven, which rose by 0.2 million metric tons to 1.3 million. Bremerhaven remains an open port, welcoming all shipping companies and automotive manufacturers.
BLG's contract logistics sales also grew, increasing by €20.9m to €569.1m. However, the Container division saw a decrease in sales, dropping by €43.2m. Despite this, the group's overall sales increased by 8.1% to €1.21 billion in the financial year 2023.
In a strategic move, BLG AutoTerminal Bremerhaven and Haitong Ro-Ro Terminal in Shanghai formed an agreement to support Chinese auto manufacturers' exports to Europe. This collaboration is expected to strengthen BLG's position in the automotive logistics sector.
BLG Logistics Group's financial year 2023 saw significant growth in its Automobile division and contract logistics, despite a decrease in the Container division's sales. The group's overall sales increased, and its Bremerhaven terminal's positive result, along with the strategic partnership with Shanghai's Haitong Ro-Ro Terminal, signals a strong outlook for the company.
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