Foreword by the Board of Management

Dear readers,

Dynamic – by definition, this is a force for transformation and development. A force that drives, moves and changes. Therefore, “Dynamic” is the perfect headline for our 2024 financial year.

Over the past year and beyond, we have witnessed the demands placed on the global supply chain network changing at an accelerated pace. Geopolitical changes, multiple crises, investment pressure, digitalization, automation, artificial intelligence (AI) as well as climate disasters and the process of adapting to the rising environmental awareness in the population are drivers of constant transformation. In response, companies need to integrate sustainable practices into their supply chains.

Our employees are the backbone of our success. Their tireless dedication and passion are the driving force of BLG. Together, we were not only able to close the 2024 financial year with great results, but to set new standards in doing so. In a world that is constantly changing, we have been flexible in our response to the challenges faced, while consistently pursuing our strategic objectives. The success of this approach is reflected in our results for the period, the expansion of our services and the strengthening of our position as one of the leading seaports and logistics service providers.

BLG LOGISTICS closed the 2024 financial year significantly better than expected. While Group revenue was up slightly from the previous year, increasing by EUR 10,629 thousand to EUR 1,220,664 thousand, total comprehensive income (EBT) exceeded expectations at EUR 91,791 thousand.

The primary drivers behind this success are the AUTOMOBILE and CONTAINER Divisions, with the results achieved by the AUTOMOBILE Division once again improving on the previous year. Factors that have contributed to this include good utilization of capacity and productivity at the seaport and inland terminals, our performance in technical services, unscheduled spot transactions and less reliance on subcontractors.

Despite the tough economic situation and geopolitical crises, the CONTAINER Division was able to close the 2024 financial year with earnings significantly above expectations. The EUROGATE Group benefited from additional earnings from storage fees and reefer revenues. However, there have also been significant increases in volumes at several locations.

The CONTRACT business unit is below expectations in the 2024 financial year. In the reporting year, higher volumes, increased productivity and additional business were unable to fully compensate for the often sharp declines in volumes due to reduced demand, particularly when it came to car part logistics and industrial logistics at individual locations, as well as various one-off effects.

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The 2024 financial year was a year full of global challenges, economic and social responsibilities and historic moments. And at the same time a year with many opportunities for us as BLG.

Matthias Magnor,
Chairman of the Board of Management

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We achieved a very good result in 2024, but we still need to prepare well for future challenges. The development of handling volumes at locations of the EUROGATE Group is influenced by the changes in the shipping consortia that occurred in the reporting year.

Michael Blach,
Member of the Management Board for the business segment CONTAINER

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A key task in the coming years is to maintain the momentum of successes and positive developments despite global uncertainties and to use it for the sustainable development of BLG and the logistics sector.

Christine Hein,
Member of the Management Board & Chief Financial Officer (CFO)

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I have been at home in contract logistics for many years, so I am all the more pleased that I am now also responsible for the exciting field of automotive logistics. My task is to bring the two business areas even closer together.

Axel Krichel,
Member of the Management Board & Chief Operating Officer (COO)

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From the HR department's perspective, 2024 was a year full of challenges. Alongside strong financial results, the year was also shaped by fundamental changes.

Ulrike Riedel,
Chief Human Resources Officer & Labor Relations Director

Highlights of the Year

For many years, our BLG AutoTerminal Bremerhaven has been open to car manufacturers from all over the world. In February, we had the privilege of welcoming the BYD Explorer No. 1 to our port on its maiden voyage. BYD’s decision to opt for the port underlines the importance of our location as an international hub for automotive logistics.

Our ability to act effectively and flexibly has not only navigated us safely through the challenges faced over the past year, it has also helped to strengthen our market position. German ports play a crucial role when it comes to the energy transition. In Bremerhaven, BLG LOGISTICS and EUROGATE have been working together under the Eco Power Port brand since 2024.

In the reporting year, we expanded our international activities, entered into new partnerships and put our feelers out towards Turkey. Turkey’s strategic location, linking continental Europe with the Middle East and Asia, makes it an ideal transport center and international logistics hub.

2024 was also marked by changes in the Board of Management. After twelve years at the helm of BLG LOGISTICS, Chairman of the Board, Frank Dreeke, left the company at the end of the year. Matthias Magnor, an experienced helmsman, took over on January 1, 2025. He has successfully managed the transformation of BLG’s operational divisions over the past three years, as Chief Operating Officer. Axel Krichel took over the role of COO on January 1, 2025.

Over the past year, we also worked hard to further streamline the strategic alignment of our sustainability management and we further anchored the sustainability targets set in the previous year within the company. Reviewing the priorities set according to the principle of double materiality played a key role in these efforts. The results will help us to be even more focused and consequently more effective in the future when it comes to reconciling economic performance, social commitment and environmental responsibility. As part of our Climate Mission, we have begun preparing for the more stringent climate objective in line with the 1.5°C target adopted in the Paris Agreement. As one of the key levers in this regard, the company will rely entirely on green electricity from 2025 onward. To this end, BLG is combining its own and purchased green electricity with individual power purchase agreements (PPAs) concluded with green energy projects. We will continue to leverage all potential between now and 2030, and to work on targeted decarbonization initiatives.

One of the key tasks in the coming years will be to maintain the momentum that we have gained through numerous success stories and positive developments, despite inconsistencies in global politics and economic challenges, and to utilize this to achieve sustainable development – not only at BLG, but in the logistics industry as a whole.

We are all up against a number of major challenges, but therein also lie numerous opportunities. Our plans as the BLG Group are ambitious. While we appreciate that economic and social uncertainties will continue or increase, with our new management team, we have set the course for sustainable growth and continued success. Nevertheless, we remain on course and will continue to be an anchor for stability and a partner for reliable and secure business – for our customers, partners and employees alike. Our result from 2024 provides us with a solid basis on which to successfully continue BLG’s long-established history in these dynamic times. International. Digital. Agile.