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Bigger players: Not only in volumes, but also in profit

This year’s Top Romanian Logistics Operators brings to our attention several parameters which we focus to for the global figures of the main logistics companies in Romania and which, in 2019, achieved a total turnover of about 2,5 billion, up 2% (+61 million) compared to 2018. As usual, the Top 100 companies hold the biggest piece of that number, 2,1 billion in 2019, which represents 82% of the total turnover. If we take a closer look, Top 20 players achieved almost 1,3 billion in 2019, which represents 50.4% of the Top 500 turnover. The figure is similar to that in 2018, with a 3% difference in favour of 2019, which means an increase of about 40 million euros.

The ten largest logistics companies have a cumulative turnover of €938 million, which holds about 37% of the total of the 500 companies analysed. It should be noted that the first ten players are the same as in 2018 and the difference is given by a 10% rise for Havi Logistics, which holds second place, but also by the two position drop of Quehenberger Logistics, from eight to tenth place. Kuehne + Nagel rise sharply compared to 2018 and occupies the eight place and Yusen Logistics climbed one position to ninth place.

Two distributors surpass the multinational logistics companies

The first position is held again by Aquila Part Prod Com, a distribution company whose figures, just as in the case of Havi Logistics, are influenced by the marketing of distributed products, and which in 2019 decreased by 5% compared to 2018. But among logistics and shipping companies if we not take into account Aquila, the first place belongs to the market leader for over 10 years – Schenker Logistics Romania. In 2019 the German freight forward business was in a slight decrease, below 1%, which can be explained by the fact that an important share is occupied by the automotive segment, which is on a decreasing trend since the second half of 2019. The figures will most likely be lower by the end of 2020, especially since the entire automotive sector was put down in the first six months, mainly because of the Covid-19 pandemic. Although it did not increase its assets, DB Schenker continued its plan to expand and modernize its branches in South-Eastern Europe and in 2019 invested in Romania approximately €6.5 million in a new terminal located in the immediate proximity of the A1 Bucharest-Pitesti motorway, in CTPark Bucharest West. The step ended with the relocation of the transport and logistics operations from Phoenix Logistics Center to the new Class A terminal, on a total area of 21,000 sq.m. Overall, the assets are declining slightly, but it is possibly due to equipment from the former Romtrans (acquired by Schenker in 2008), where things are optimizing year after year. This action may have contributed, although in a small percentage, to profit increase, which is 35% higher. Also, the optimization was achieved in the distribution chain through two standardized services at European level, which thus increased productivity and delivery efficiency. We are talking about the „Fixed Day 10 and 13“ and „Premium 10 and 13“ options, which have become available for groupage transport services. The difference between receivables and debts was €17,8 million, 19% higher than in 2018.

Next after Schenker Logistics Romania is Transmec, which holds the same fourth place, with an 8% increase compared to 2018, reaching €92 million. The company reduced its fleet in the same time with implementing a strategy for a greater efficiency in transport operations. The first six months showed an increase in the number of orders, both FTL and LTL cargo transports. Transmec operates in Romania through two warehouses located in Oradea, one of its own, of 10,000 sq.m, and a second one rented, with an area of 6,000 sq.m, which is dedicated to „just in time“ deliveries. Also, in Oradea is the private terminal of Transmec, owned in partnership with P&O Ferrymasters, from where regular trains are organized to various destinations – Italy, Belgium, Germany and Poland. A third weekly departure will be introduced for the Oradea-Lodz route (Poland). As future projects we can list an Oradea-Constanța service, the Black Sea route, which will guarantee connections with Bulgaria, Serbia, Greece and Turkey. At the same time, in 2019 the company obtained the AEOS (Security Authorized Economic Operator) certification, which helped in requesting the customs clearance of the goods locally, far from the big ports. The increased costs, especially the salaries, but also the investments, are seen in the decrease of the profit, which in 2019 reached about €1.3 million, but especially in assets, which reached €35.2 million, an increase of about €3 million. However, if we look at the difference between receivables and debts, we notice that Transmec registers a loss of €6.6 million, an increase in debts compared to 2018.

In 2018 Gefco Romania recorded a turnover of about €84 million, up 23% compared to the same period in 2017, along with a profit, also increased, which had reached €2 million. But 2019 was not a very favourable year, especially if we think about the automotive sector, which has a significant share in business and which, since the second half of the year, has been in decline. Thus, Gefco’s business in Romania decreased by 5% to €79.5 million, while, for the first time in the last four years, the company recorded financial losses. Keeping the trend, total assets decreased by 19%, to almost €20 million. The only evolution we find is in the figures that show the difference between receivables and debts, where Gefco needs to recover approximately €3.5 million.

The player who maintained its position, the sixth place (the fifth if we exclude Aquila) is Gebrüder Weiss. The company also registered the fourth consecutive year of turnover increase, for a total of €67.4 million euros, an evolution of 8% compared to the previous year. 2019 represented a year of consolidation, which was achieved also through investments in personnel, increasing by 6%, but also in transport infrastructure, the total number of shipments being 22% higher. Also in 2019, the Austrian company opened a new line, Bucharest-Istanbul, with departures twice a week from Turkey to Romania and a transit time of up to six working days. Finally, the increase came from a new service line, more precisely from the opening of the Home Delivery service (online orders for cargo goods weighing between 25 and 45 kg) at group level, which in Romania alone registered 58,000 orders honoured, while 1.1 million deliveries were made in Eastern Europe and Austria. In this segment, the most deliveries were recorded in the furniture segment, where the company won an important customer.

Despite the profit decrease at the market level, where the top 500 companies made €81.7 million, 4% smaller compared to 2018, Gebrüder Weiss also grew strongly in terms of profit. Thus, the €1.67 million (+ 60% compared to 2018) places the company in eighth place (after Schenker, Kuehne + Nagel, Karl Heinz Dietrich, DSV Solutions, CEVA Logistics, DHL Logistics and Yusen Logistics). Alongside distribution operations, the increase comes also from logistics services, the hub in Sibiu being expanded (+4,500 sq.m) by the end of 2018, but operationally began in 2019. This is also the reason why both the profit and the assets (the hub was not registered in 2018) were lower in 2018. Thus, in 2019 the total assets owned by the logistics operator reached €33.6 million, increasing by 15% compared to 2018, when the value was €29.4 million. It is the second increase in terms of value (after Karl Heinz Dietrich).

This year’s Top Romanian Logistics Operators brings to our attention several parameters which we focus to for the global figures of the main logistics companies in Romania and which, in 2019, achieved a total turnover of about €2,5 billion, up 2% (+€61 million) compared to 2018. As usual, the Top 100 companies hold the biggest […]

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