Disclosures and sections in this Group management report that are presented in parentheses are so-called non-management report disclosures and have not been audited by the auditor.
As the personally liable general partner of BLG LOGISTICS GROUP AG & Co. KG (BLG KG), the listed company BREMER LAGERHAUS-GESELLSCHAFT ‑Aktiengesellschaft von 1877‑ (BLG AG) has assumed the management of the BLG Group. These two companies, which are closely linked in legal, commercial and organizational respects, have prepared the Combined financial statements as joint parents.
BLG AG does not hold any share capital in BLG KG and is also not entitled to participate in the company’s profits. BLG AG receives remuneration for the liability it has assumed and for its management activities. All limited partnership shares of BLG KG are held by the Free Hanseatic City of Bremen (municipality). The business of BLG KG is managed by the Board of Management of BLG AG as a governing body of the general partner. The Board of Management is fully accountable for managing the business in accordance with Section 76 (1) of the German Stock Corporation Act (AktG) and is not subject to instructions issued by shareholders.
As of December 31, 2025, the Free Hanseatic City of Bremen (municipality) was the main shareholder with 50.4 percent of the shares in BLG AG. Other significant institutional investors are Finanzholding der Sparkasse in Bremen and Panta Re AG, each with a 12.6 percent share, and the Waldemar Koch Foundation, Bremen, which owns 5.9 percent of the shares. 18.5 percent of shares are in free float.
Legal structure of the Group as of December 31, 2025
