13.06.2025 | Press Release

HGK Group with strong improvement in earnings

Cologne. Häfen und Güterverkehr Köln AG (HGK) has continued the successful development of recent years and once again achieved a record result in the 2024 financial year. The Cologne-based logistics group recorded a leap in earnings to EUR 19.6 million after tax (previous year: EUR 13.3 million).

The HGK Executive Board: Susanne Pietsch (CFO), Uwe Wedig (CEO), Dr Jens-Albert Oppel (COO)

Despite declining performance and sales in some cases, all HGK subsidiaries were able to improve their results. Group turnover of the companies consolidated in HGK AG totalled EUR 629.5 million (previous year: EUR 695.8 million), while EBIT increased to EUR 26 million (previous year: EUR 18.9 million). The Group's total handling and transport performance amounted to 76.9 million tonnes, which corresponds to a decline of around 10% compared to the previous year. "We have taken active countermeasures and implemented measures to improve earnings in what remains a very difficult market environment. This enabled us to sustainably improve our cost structure, make processes more efficient and increase our resilience to external influences through our offerings on the market," says CEO Uwe Wedig, summarising the key factors behind the successful business result.

Fleet renewal and further development of the port locations

The fleet renewal strategy of the subsidiary HGK Shipping in the gas, liquid and dry sectors was also reflected in rising transport volumes in the 2024 financial year, particularly in the gas and liquid sectors, despite the generally subdued economy. At the same time, the company regularly reviews divestments. For example, the majority stake in DGA Shipping B.V. was sold to the co-shareholder in the 2024 financial year. The proceeds from the sale were used to strengthen reserves.

Business development in the HGK Logistics and Intermodal division (formerly neska) was characterised by very significant declines in transport and handling volumes in some cases due to the economic situation. The continuation of programmes to optimise processes and reduce costs contributed to a significant increase in earnings. One measure to consolidate the business was the sale of the shares in MASSLOG GmbH to the co-shareholder.

"In addition to the progress made by our logistics units, we are also making good progress with the further development of our space management. Last spring, together with an investor, we were able to present the construction of a state-of-the-art multi-level logistics property on the FUSION COLOGNE site developed by us with a connection to the Niehl harbour. We have just signed a project agreement with the Thesauros Group to realise two further multi-level projects there, Gateway and Crossroads. We are not building the next container terminal on the Rhine, but are developing sustainable multi-level properties here. In this way, we are creating attractive space for industry, trade and logistics at one of the most conveniently located logistics and port locations in Germany," says Uwe Wedig, explaining an important component of the HGK Group's investment strategy. The end result is the development of a logistics and industrial site of up to 55 hectares by FUSION COLOGNE in the north of Cologne.

The "Crossroads" project by FUSION COLOGNE

"We are creating attractive spaces for industry, trade and logistics at one of the most conveniently located logistics and port locations in Germany."

Uwe Wedig, Chairman of the Management Board of HGK AG

Investment volume of around 150 million euros planned for 2025

HGK CEO Uwe Wedig emphasises the great importance of the investment plans: "We have now generated improved results for our shareholders for six years in a row. This was made possible by investing in new business areas, which we have successfully integrated, and in strengthening existing business models. We will continue along this path in 2025 with a further significant increase in investment volume of around 150 million euros. We are thus expanding our expertise as an integrated logistics provider that can offer transport, handling and storage in hinterland transport from a single source. The modernisation and optimisation of our ports into logistics hubs with sustainable transport connections is of crucial importance and directly benefits the Rhineland economic region." To mark the 100th anniversary of the port of Niehl in 2025, HGK AG will present a port development plan outlining the future direction of Cologne's ports.

As a logistics company within the Stadtwerke Köln Group, HGK AG also makes important contributions to the provision of public services in the city of Cologne and the region. The company operates an extensive rail network with around 250 kilometres of track, which provides numerous connections between major industrial sites and important logistics hubs. Thousands of people use the four light rail lines that run on the HGK routes every day. The company also maintains modern workshops for railway vehicles.

At the end of the 2024 financial year, the HGK Group employed around 2,500 people and the number is rising.