BLG Logistics reports losses in its Automobile division because of continued problems in the automotive industry but earnings are positive and BLG is investing in sustainability and IT
In total, BLG Automobile moved 4.8m vehicles over the financial year, which it said was comparable to 2020.
At the German port of Bremerhaven, BLG Logistics’ largest location, volumes were also similar to 2020, with 1.7m vehicles processed through the year. Bremerhaven remains the second busiest vehicle handling port in Europe, behind Zeebrugge in Belgium (2.3m).
However, AutoTerminal Bremerhaven lost €11m through FY 2021. The company said that productivity dropped dramatically, partly because of coronavirus measures and a high level of staff sickness leave.
Nevertheless, BLG Logistics’ overall performance was positive, according to the company. After a pre-tax loss of €116m in 2020, the company generated earnings before tax of €52.2m in 2021. Revenue was down -1.4% at just below €1.1 billion, around the same level as 2020.
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