HGK Shines in 2024 with Record Results

The Häfen und Güterverkehr Köln AG (HGK) has continued its successful development over the past years and achieved a record result in the 2024 financial year. The Cologne logistics group recorded a profit jump to 19.6 million euros after taxes (previous year 13.3 million euros).

(Köln) Despite a partially declining performance and revenue development, all subsidiaries of HGK were able to improve their results. The group revenue of the companies consolidated in HGK AG amounted to 629.5 million euros (previous year 695.8 million euros), and EBIT was increased to 26 million euros (previous year 18.9 million euros). The total handling and transport performance in the group amounted to 76.9 million tons, which corresponds to a decrease of about 10% compared to the previous year.

“We have actively countered the still very difficult market environment and implemented measures to improve results. Thus, we were able to sustainably improve our cost structure, make processes more efficient, and increase resilience to external influences through our market offerings,” summarizes CEO Uwe Wedig the key factors for the successful business result.

Fleet Renewal and Development of Port Locations

The strategy for fleet renewal of the subsidiary HGK Shipping in the areas of gas, liquid, and dry has also manifested itself in increasing transport volumes in the 2024 financial year, despite the overall subdued economic situation, particularly in the gas and liquid sectors. At the same time, the company regularly reviews divestments. In the 2024 financial year, the majority stake in DGA Shipping B.V. was sold to the co-partner. The proceeds from the sale were used to strengthen reserves.

The business development in the area of HGK Logistics and Intermodal (formerly neska) was characterized by significant declines in transport and handling volumes due to economic conditions. The continuation of programs for process optimization and cost reduction has contributed to a significant increase in results. One measure for consolidating the business was the sale of shares in MASSLOG GmbH to the co-partner.

“In addition to the progress of our logistics units, we are also making good progress with the further development of our land management. As early as spring last year, we were able to present the construction of a state-of-the-art multi-level logistics property on the area we developed, FUSION COLOGNE, with access to the Niehler Hafen, together with an investor. We have just signed a project agreement with the Thesauros Group to realize two more multi-level projects there with ‘Gateway’ and ‘Crossroads’. We are not building the next container terminal on the Rhine, but developing sustainable multi-level properties here. This creates attractive spaces for industry, trade, and logistics at one of the most conveniently located logistics and port sites in Germany,” explains Uwe Wedig an important component of HGK Group’s investment strategy. In the end, the development of a logistics and industrial area of up to 55 hectares by FUSION COLOGNE in northern Cologne is at stake.

Investment Volume of Around 150 Million Euros in 2025

HGK CEO Uwe Wedig emphasizes the high importance of the investment plans: “For our shareholders, we have now generated improved results for six consecutive years. This was made possible by investments in new business areas that we have successfully integrated and in strengthening existing business models. We will continue this path in 2025 with a significantly increased investment volume of around 150 million euros. This will enhance our competence as an integrated logistics provider that can offer transport, handling, and storage in hinterland traffic from a single source. The modernization and optimization of our ports into logistics hubs with sustainable transport connections is crucial and directly benefits the economic region of Rhineland.”

Port Development Plan for Niehler Hafen

On the occasion of the 100th anniversary of Niehler Hafen in 2025, HGK AG will present a port development plan that outlines the future direction of the Cologne ports. As a logistics company within the Stadtwerke Köln Group, HGK AG also makes important contributions to the public welfare of the city of Cologne and the region. The company operates an extensive rail network with around 250 kilometers of track, establishing numerous connections between major industrial sites and important logistics hubs. Thousands of people use the four light rail lines that operate on HGK tracks every day. In addition, the company maintains modern workshops for rail vehicles. By the end of the 2024 financial year, the HGK Group employed around 2,500 employees, with a rising trend.

Photo: © HGK