Over the course of 2019, the economic development of the global market entered a cooling phase. The chemical industry in particular recorded declines in production volumes. Despite the difficult conditions, the Hoyer Group increased sales by 0.9% year-on-year to EUR 1.177 billion. This was due to volume increases with contracts for filling station supply in the UK, new business and transport growth in the gas sector, higher sales from tank container rental and currency effects in the overseas business with a strong US dollar.

The Hoyer Group achieved a very good operating result before taxes of EUR 38.1 million in 2019. In 2018, earnings before taxes amounted to EUR 40.2 million, or EUR 35.2 million when adjusted for non-operating special effects. Both earnings before taxes and the return on sales achieved in 2019 improved and were higher than planned. Operating cash flow amounted to EUR 82.8 million in 2019 (previous year: EUR 78.5 million). Hoyer has an excellent credit rating, which was once again confirmed by another successful promissory note issue.

Due to the economic slowdown in 2019, the Hoyer Group reduced its planned investments for the year from EUR 173 million to EUR 106 million. The investment sum was nevertheless higher than the investment totals of the two previous years (2018: EUR 83.9 million, 2017: EUR 90 million). The funds were used to rejuvenate and modernize the tank container fleet, to equip it with the latest generation of telematics systems and to replace and expand transport equipment such as tank trailers and IBCs. The investment budget originally planned for 2020 amounted to EUR 146 million. Due to current developments, the planning was revised and expenditure was concentrated on key strategic projects. "Hoyer will remain one step ahead even in times of crisis. The management is operating prudently and sustainably.

This makes targeted investments possible even in difficult economic times," explains Thomas Hoyer, Chairman of the Advisory Board of the Hoyer Group. These include investments in a dangerous goods terminal, buildings and technical equipment as well as the further expansion of smart logistics concepts, state-of-the-art information technology and international business acquisitions and joint ventures. In 2019, the joint venture Hoyer Bulk LLC was initiated with the US-based logistics company Dupré in order to strengthen the overseas business on a continental scale. "Thanks to our global presence and our strong network, we can optimally cover both regional and international logistics requirements along the supply chain for our customers," says Ortwin Nast, Chief Executive Officer of the Hoyer Group.

Total sales were generated by a total of five business units. The Chemilog business unit contributed 34.1% of total sales in the past financial year. The business unit generated 0.6% more sales compared to the previous year and was able to positively influence earnings by increasing capacity utilization and efficiency. The Deep Sea business unit, responsible for the overseas business, achieved sales growth of 3.6% due to exchange rate effects, accounting for 24.5% of the Hoyer Group's total sales. The Petrolog business unit, which combines the activities of petroleum supply for filling stations, airports, aviation fuelling and bitumen transportation, contributed 22.8% of total sales. Despite declining sales, earnings before taxes in this division improved significantly. The Gaslog business unit recorded an increase in turnover of almost 6%, accounting for 10.7% of total turnover. The transport logistics business with industrial, chemical and specialty gases developed particularly well in Germany. The Netlog business unit, which is responsible for global container management and technical services such as cleaning, maintenance and depot services, contributed 7.9% of total sales. The business unit once again increased its sales by 6%.