Report on forecasts and other statements regarding expected development
Due to the war situations in Ukraine and the Middle East as well as renewed supply chain disruptions, we again anticipate a difficult economic environment for BLG LOGISTICS in the 2024 financial year. It is still too early to reliably estimate the impact this will have on the world economy, global trade flows and BLG LOGISTICS’ customers, so that it is again not possible to make an accurate forecast for the current year.
Based on what we know to date, BLG AG forecasts that the general economic conditions described above will again pose challenges for BLG KG’s business development and earnings in the 2024 financial year. High interest rates could also lead to additional burdens for BLG KG.
In light of the high cash management receivables, BLG AG assumes that higher interest rates at the beginning of the 2024 financial year compared to 2023 will again lead to slightly improved net interest income in 2024. Based on current estimates, BLG AG expects the remuneration for the assumed management of BLG KG, which is dependent on the latter’s accounting profit, to be in the range of the 2023 reporting period or slightly lower.
Overall, BLG AG therefore expects earnings (EBT) for the 2024 financial year to be at or slightly below the level for 2023. With respect to the dividend, we plan in the future to allow our shareholders to participate appropriately in earnings in line with our business performance.
Apart from historical financial information, this annual report contains forward-looking statements on the future development of the business and the business performance of BLG AG, which are based on estimates, forecasts and expectations, and can be identified by wording such as “assume,” “expect” and similar terms. These statements may, of course, vary from actual future events or developments. We are not under any obligation to update these forward-looking statements with new information.
Final statement of the Board of Management in accordance with Section 312 (3) of the German Stock Corporation Act
BLG AG received appropriate consideration for each legal transaction indicated in the report on relationships with affiliated companies. No other measures were taken or omitted. This assessment is based on the circumstances of which we were aware at the time the reportable transactions were conducted.
Bremen, March 28, 2024
BREMER LAGERHAUS-GESELLSCHAFT -Aktiengesellschaft von 1877-
THE BOARD OF MANAGEMENT