Hellmann Expands Market, Strengthens Finances

Finances

Despite challenging market conditions, Hellmann Worldwide Logistics had a successful year. Order volumes remained stable at around 20m shipments, contrary to the market trend, allowing Hellmann to expand its market position in 2023, particularly in Airfreight and Seafreight. The company also grew internationally in its Contract Logistics division, gaining new customers and establishing new warehouses in the US, Germany, India, and Singapore. With total sales of €3.5bn (2022: €5.0bn), Hellmann achieved solid results in 2023, surpassing pre-pandemic levels. The expected decline in total sales is due to a normalisation of previously high freight rates during the pandemic. Additionally, equity increased by 4.4% to €405m (2022: €388m) and the equity ratio rose from 28% to 35%.

Hellmann executed strategic measures for sustainable international growth in 2023: Alongside extensive investments in IT infrastructure and digitalisation, the company made significant progress in its global growth strategy by establishing a new country organisation in Ireland and making strategic acquisitions in Italy, Slovakia, and the Baltic States.

“Last year saw a significant decline in rates across the industry and overcapacity in many product areas. Despite these challenges, we maintained shipment numbers and gained market share, demonstrating our strength and adaptability in a dynamic market. I am confident in Hellmann’s strategic positioning as I hand over the reins to Jens Drewes at the end of the month,” said Reiner Heiken, Chief Executive Officer, Hellmann Worldwide Logistics.

After joining the company in April, Jens Drewes will assume the role of CEO on June 1st, succeeding Reiner Heiken, who is retiring. “Reiner Heiken has positioned Hellmann very strongly over the past five years and set the course for the future. I look forward to building on this solid foundation with our international management and the entire Hellmann team to further develop the family business and expand our market position,” said Jens Drewes.

“Last year, Hellmann not only gained market share but also strengthened its financial position. This enables us to continue investing in strategic and technological developments, focusing on digitalisation, promoting innovation, especially in environmental sustainability, and investing in our more than 12,000 employees worldwide,” said Martin Eberle, Chief Financial Officer, Hellmann Worldwide Logistics.

Source: Hellmann