Gebrüder Weiss Returns to Pre-Corona Level in 2023

The international transport and logistics company Gebrüder Weiss concluded the fiscal year 2023 with a net revenue of 2.47 billion euros (2022: 3 billion euros). Despite this decline, the company remains above its growth trend from 2015 to 2020. The special effects related to Corona from the previous two years did not continue in 2023.

(Lauterach) Throughout 2023, the net revenue of the Air & Sea division stabilized at 774 million euros, returning to previous levels. Due to high freight rates from shipping companies and airlines, Gebrüder Weiss generated 1.27 billion euros in this sector the previous year. Revenue in the land transport and logistics divisions remained stable at 1.45 billion euros (2022: 1.48 billion euros), despite declining energy and fuel prices. The equity ratio increased to 63 percent (2022: 60 percent), making the company crisis-resistant and a secure employer.

“We have succeeded in contributing to the success of our customers in their global sales markets with first-class service, despite a weaker economy, and in increasing the presence of Gebrüder Weiss with new locations in the USA and Germany. This is primarily thanks to the passionate commitment of our employees. Geopolitical conflicts and a globally subdued economic performance negatively impacted revenue and transported volumes. However, due to our stable financial situation, we were still able to implement a comprehensive investment program for location and service expansion in 2023,” explains Wolfram Senger-Weiss, Chairman of the Management Board of Gebrüder Weiss. Many projects were postponed due to Corona, which could now be realized in 2023.

Investments in Network Expansion

With a record investment volume of 187 million euros, Gebrüder Weiss expanded its network in the German and US markets as well as in Southeast Europe, while also investing in customer projects and sustainable energy production. Specifically in Bavaria, the logistics company solidified its position through acquisitions and real estate purchases in Bayreuth, Konradsreuth, Nuremberg, and the construction of a new freight terminal in Straubing. The US network was expanded with new locations in Miami and Laredo, Texas. Other investment projects included a second location in Bucharest, expansions of the logistics terminal in Hungary, and the construction of a logistics warehouse in Graz and Reutte, Tyrol. Through these acquisitions, the number of employees at the 180 locations worldwide increased to 8,600 (2022: 8,400).

In parallel with the network expansion, Gebrüder Weiss invested in the digitalization of supply chain management. The web-based customer portal myGW was enhanced with analytical functions for inventory (Warehouse Analytics). myGW provides transparency along the entire supply chain and serves customers as a central information and communication platform for everything related to their global shipments, such as real-time tracking and estimated time of arrival (ETA).

Expansion of Renewable Energies

The company made progress in decarbonizing its own business activities. Already three-quarters of its electricity needs in the D-A-CH region are covered by self-generated solar power. In 2023, the logistics company commissioned nine additional photovoltaic (PV) systems in the D-A-CH region and Eastern Europe. The total of 27 PV systems generated 5,850 megawatt-hours of electricity, resulting in a doubling of the amount of CO₂ emissions saved to 2,750 tons. At the same time, since 2011, Gebrüder Weiss has been contributing to an environmentally friendly energy mix with its wind farm in Northern Germany.

As part of its goal of achieving climate neutrality in the operation of its own facilities and trucks by 2030, the company is increasingly focusing on its own fleet. With e-transporters, the logistics company is already delivering online-ordered goods to end customers in Austria, Hungary, Croatia, and Romania. Later this year, two battery-electric trucks will start operating in Germany, and additional e-trucks and electric delivery vehicles will be acquired in Austria. For the transition period to e-mobility, the company is converting a large part of its own truck fleet in Austria to hydrotreated vegetable oil (HVO).

Light Economic Recovery Expected in H2/24

After declines in global trade and recession tendencies, Gebrüder Weiss expects a slight economic recovery starting in the second half of 2024, leading to a more positive revenue development – fueled by the individual successful national companies. Wolfram Senger-Weiss: “Now it benefits us that we are globally positioned and can quickly respond to economic upturns in individual regions with the necessary logistics services on-site. At the same time, we see our strategy ‘Best of both worlds’ confirmed. The last few years have shown how important it is to invest in both the development of the operational network and the digital competence of the company.”

Photo: © Gebrüder Weiss