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Jun 25, 2020 at 7:05 AMWith a profit of 10.3 million euros, Häfen und Güterverkehr Köln AG (HGK) achieved a double-digit million profit for the first time in its history. All subsidiaries and affiliated companies have performed well.
(Cologne) With 10.3 million euros, Häfen und Güterverkehr Köln AG achieved a record result in the fiscal year 2019. Compared to the previous year, the logistics holding company within the Stadtwerke Köln group increased its profit by 2.5 million euros.
“We are very pleased to report a double-digit million profit for the first time in the history of Häfen und Güterverkehr Köln AG. With this contribution to the overall result of the Stadtwerke Köln group, HGK ultimately also supports the budget of the city of Cologne,” said Uwe Wedig, Chairman of the Board of HGK AG.
The revenue of HGK AG amounted to 75.4 million euros in 2019 (previous year: 69.8 million euros). A special event was reflected in the balance sheet: Following the political decision of the Cologne City Council to definitively stop the planned expansion of the Cologne-Godorf port, HGK had to write off significant costs already incurred for planning and expenses. After thorough legal review, the city of Cologne reimbursed HGK for these expenses.
Subsidiaries and affiliated companies performed well
The total revenue of the entire HGK group, including subsidiaries and participations such as the Neska Group, HTAG, or RheinCargo, amounted to 232 million euros in 2019 (previous year: 243.1 million euros). “The HGK subsidiaries and affiliated companies were also able to perform well in a still challenging market environment and thus contributed to our excellent results,” Wedig is pleased to report.
The 100% HGK subsidiary NESKA Schiffahrts- und Speditionskontor GmbH handled around 7.2 million tons in conventional handling and transport of goods (previous year: 7.8 million tons). At Häfen und Transport AG (HTAG), also a 100% HGK subsidiary, 10.1 million tons were transported and handled (previous year: 11.0 million tons).
The logistics service provider RheinCargo, a joint venture of HGK and Neuss Düsseldorf ports, achieved a handling of 24.3 million tons in the seven Rhine ports operated by the company (previous year: 25.4 million tons). On the rail, 22.0 million tons were transported (previous year: 18.8 million tons), resulting in a total of 46.3 million tons handled and transported by RheinCargo, significantly more than the previous year (44.2 million tons).
HGK is purposefully pursuing its path to develop into an integrated logistics holding company.
Acquisition of Imperial Inland Shipping
A key component of this process is the planned acquisition of the European inland shipping business of “Imperial Logistics International” by June 30, 2020. “With the planned acquisition of the Shipping Group, our activities will be particularly complemented by the growth segments of chemical and gas shipping, significantly expanding our portfolio. We see great opportunities to offer our customers significant advantages and more supply security in the future through combined offers of inland shipping and freight rail,” explains Uwe Wedig the reasons behind the expansion strategy.
The investment fits perfectly with the strategic tasks fulfilled by HGK as a logistics unit within the Stadtwerke Köln group. The company ensures the supply of raw materials and goods traffic for the economy in the Rhineland under economic and ecological conditions. An increased commitment to inland shipping ensures that more goods can be shifted from trucks to ships.
Photo: © HGK
