Company Report 2013 - hoyer-group.com€¦ · The Techlog business unit combines cleaning, repair...

Since its founding in 1946 HOYER has grown from a single company to an independent group of busi-nesses with more than one billion Euros in revenue. During the year under review, our strategy for growth has yet again proven to be correct as we took in the largest annual amount of revenue in our history: 1,087 million Euros. For this we have to thank the re-sponsible actions of our family members, our profes-sional Executive Board and our experienced Advisory Board members and, of course, first and foremost our dedicated employees. The HOYER Group is already among the world’s leading bulk logistics companies in the transportation of liquid goods and gases by road, rail and sea. This is the position we want to strengthen together with our customers from the chemical, food, gas and oil industries. The topic of this annual report is closely tied to our daily business

and involves the six rules of logistics. Our task is to always provide the right product to our customers at the right time, at the right place, in the right amount, in the right quality and at the right cost. Every single one of these rules is not just adhered to by our more than 5,000 employees but, rather, all of us live and breathe them every day. And this shows the very basis of our company’s success: The cohesion of a traditional family business.

With warmest regards from Hamburg,

Thomas Hoyer

Company Report 2013

HOY_GB2013_Umschlag_ENG_07.indd 6-8 30.05.14 10:56

Employees

Equipment (2013)

Turnover by business unit in % (2013)

Deep SeaThe Deep Sea business unit manages worldwide transports in tank containers and fl exitanks on the road, rail and sea. One of the business unit’s strongest growth regions is Asia.

ChemilogThe Chemilog business unit carries out all European chemical transports in tank containers and road tankers while focusing on achieving a high percentage of intermodal transports.

2013 2012 2011 2010 2009

Turnover and earnings

Turnover (TEUR) 1,087,048 1,033,939 1,034,589 989,812 852,186

Earnings before tax (EBT) (TEUR) 35,555 32,616 37,301 26,438 20,647

Net income (TEUR) 25,518 23,032 27,596 18,152 18,355

EBIT (TEUR) 41,500 37,943 43,905 34,114 29,136

EBITDA (TEUR) 90,986 78,463 82,090 69,559 66,778

Investments and fi nancing

Investments (TEUR) 102,562 65,034 40,180 22,735 33,065

Cash fl ow from operating activities (TEUR) 71,712 61,587 61,451 43,474 44,378

Capital

Equity (TEUR) 229,216 212,549 193,900 167,638 147,145

Equity ratio (%) 40 40 39 36 33

Total assets (TEUR) 571,284 531,748 496,662 470,493 439,941

Returns

Return on sales (pre-tax) (%) 3.3 3.2 3.6 2.7 2.4

Return on capital employed (ROCE) (%) 11.1 11.2 12.9 10.2 9.0

Gaslog The Gaslog business unit offers Europe-wide gas logistics in tank containers, road tankers and gas cylinders. It values having well-trained employees and is contin-ually modernizing its equipment.

PetrologThe Petrolog business unit is mainly responsible for the Europe-wide distribution of petroleum products to retail service stations and commer-cial customers, focusing on a heightened level of safety.

FoodlogThe Foodlog business unit develops transportation solu-tions for the food industry and implements them using tank containers and road tankers in Europe. It also operates interme-diate bulk containers (IBCs) when specialized services are required.

TechlogThe Techlog business unit combines cleaning, repair and depot services under the cotac brand with the logistics services of the Supply Chain Solutions business area. Overall, Techlog is geared toward growing its service portfolio in Europe.

Key Figures Business Units

Ove

rvie

w

32,025Tank containers

2,907Road tankers

22,706IBCs

2,216Truck units

HOYER GmbH

Internationale Fachspedition

Head Office

Wendenstraße 414-424

20537 Hamburg

Germany

Phone +49 40 21044 - 0

Fax +49 40 21044 - 246

Internet www.hoyer-group.com

Email [email protected]

Publishing information

HOYER GmbH


Corporate Center Marketing

Ewelina Jankowski

Janna Saul

Design: Implizit GmbH

Photography: Markus Heimbach

Turnover in million EUR

2012 20132011201020095,0672013

4,9552012

1,034

1,087

1,035990

852

Deep Sea

Chemilog

Foodlog

Petrolog

Gaslog

Techlog

5

21

10

6

36

22

HOY_GB2013_Umschlag_ENG_RZ.indd 10-11 30.05.14 16:45

Employees

Equipment (2013)




2013 2012 2011 2010 2009


Turnover (TEUR) 1,087,048 1,033,939 1,034,589 989,812 852,186


Net income (TEUR) 25,518 23,032 27,596 18,152 18,355

EBIT (TEUR) 41,500 37,943 43,905 34,114 29,136

EBITDA (TEUR) 90,986 78,463 82,090 69,559 66,778




Capital

Equity (TEUR) 229,216 212,549 193,900 167,638 147,145

Equity ratio (%) 40 40 39 36 33


Returns







Key Figures Business UnitsO

verv

iew


2,907Road tankers

22,706IBCs

2,216Truck units

HOYER GmbH


Head Office


20537 Hamburg

Germany

Phone +49 40 21044 - 0

Fax +49 40 21044 - 246




HOYER GmbH



Ewelina Jankowski

Janna Saul




2012 20132011201020095,0672013

4,9552012

1,034

1,087

1,035990

852

Deep Sea

Chemilog

Foodlog

Petrolog

Gaslog

Techlog

5

21

10

6

36

22


PeopleFamily 02

Executive Board 04

Advisory Board 06

NumbersFinance Performance 08

Six Rules Product 14

Time 16

Place 18

Amount 20

Quality 22

Cost 24

Business UnitsChemilog 28

Gaslog 29

Deep Sea 30

Petrolog 31

Foodlog 32

Techlog 33

InternalHuman Resources 36

Information Technology 37

SHEQ 38

Foundation 39

Locations 40

Since its founding in 1946 HOYER has grown from

a single company to an independent group of busi-

nesses with more than one billion Euros in revenue.

During the year under review, our strategy for growth

has yet again proven to be correct as we took in the

largest annual amount of revenue in our history:

1,087 million Euros. For this we have to thank the re-

sponsible actions of our family members, our profes-

sional Executive Board and our experienced Advisory

Board members and, of course, first and foremost our

dedicated employees. The HOYER Group is already

among the world’s leading bulk logistics companies

in the transportation of liquid goods and gases by

road, rail and sea. This is the position we want to

strengthen together with our customers from the

chemical, food, gas and oil industries. The topic of

this annual report is closely tied to our daily business

and involves the six rules of logistics. Our task is to

always provide the right product to our customers at

the right time, at the right place, in the right amount,

in the right quality and at the right cost. Every single

one of these rules is not just adhered to by our more

than 5,000 employees but, rather, all of us live and

breathe them every day. And this shows the very

basis of our company’s success: The cohesion of a

traditional family business.

With warmest regards from Hamburg,

Thomas Hoyer

Company Report 2013


03

In 2013, as in years past, all actions of the HOYER

Group’s shareholders were based on what formed

the foundation of Walter Hoyer’s success – his

personal sense of responsibility toward the com-

pany and its employees. The life’s work of the

company’s founder has since then passed on to

his four children and twelve grandchildren, all of

whom became additional shareholders in the year

covered by this report. Together, they are com-

mitted to the mission of ensuring the continuation

of the HOYER Group as a successful family-owned

company. The codes of conduct enshrined in the

family’s constitution determine the present and

future actions of all shareholders to whom the

internal and external cohesion of a traditional

family business is of special importance. However,

in addition to adhering to traditional values, the

family also gives careful attention to innovative

ideas. Family members manage to connect both

of these important elements through their pas-

sion for the company and for logistics – the twin

driving forces which they share with the Executive

Board, the Advisory Board and the employees.

Fam

ily

02

A Passion for Logistics

Left to right: Martina Hoyer-Hertel, Thomas Hoyer, Elisabeth Wetzer neé Hoyer, Annette Hoyer-Glasmacher

04 05

Exec

utiv

e Bo

ard

In the year under review, the company was

able to increase turnover and earnings despite

challenging market conditions. Both non-family

executives, Chief Executive Officer Ortwin Nast

and Chief Financial Officer Gerd Peters, manage

the company using the shareholders’ value

system and the long-term and consistently

pursued corporate strategy as a guide. Their

goal is to maximize value for the customer and

to further expand the HOYER Group’s strong

market position. When it comes to working

with customers and with employees, one of

the Executive Board’s hallmarks is reliability.

To them, social responsibility for the company’s

staff members is of special importance because

success is no coincidence and can only be realized

with the help of motivated employees. At the

end of the day, what counts most are not short-

term financial successes, but the value which is

added over the long term along with preserving

the company’s culture.

Success is no Coincidence

Left to right: Ortwin Nast, Gerd Peters

0706

Adv

isor

y Bo

ard

Experience as a Constant

The Advisory Board in 2013 consisted of six

members including the two shareholders

Thomas Hoyer and Annette Hoyer-Glasmacher

along with four external advisors: Heinz Fiege,

Dr. Uwe Franke, Dr. Jochen Klein and

Dr. Rolf Stomberg. With his many years of

experience serving as a constant, Thomas Hoyer

again took on the role of the Advisory Board’s

Chairman. As is laid out in its charter, the

Advisory Board is an independent body and

acts as a constructive dialog partner during

regular meetings with the shareholders and the

Executive Board. Subjects of discussion include

both questions concerning the day-to-day

running of the business as well as long-term

planning aspects. For example, in addition to

the company’s strategy, deliberations center on

financial planning, investments and personnel

matters. Decisions which go beyond the HOYER

Group’s general operational and strategic matters

always need the consent of the Advisory Board.

Left to right: Thomas Hoyer, Dr. Jochen Klein, Annette Hoyer-Glasmacher, Dr. Uwe Franke, Dr. Rolf Stomberg, Heinz Fiege

08 09

The overall economic situation was slightly

better in 2013 than in the previous year.

Europe ended its recession, the U.S. continued

its moderate growth and in China, too, an

economic upturn occurred which slightly

exceeded expectations. Slight growth rates in

Europe – HOYER’s most important economic

region – began to be seen in the middle of the

year, but they were overall too low to lead to

a noticeable growth in the transport volume of

the logistics industry. The European chemical

industry is responsible for the largest part

of HOYER’s overall turnover. The industry’s

production volumes also declined slightly in

the first half of 2013 and only recovered during

the third and fourth quarters.

Turnover

Because of the acquisition of the bulk liquid

unit of the Dutch De Rijke Group the HOYER

Group was able to increase its turnover in the

2013 business year by 5 percent to EUR 1,087m

(previous year: EUR 1,034m). The takeover was

aimed at Europe-wide intermodal transports of

chemical products and the acquisition meant

a revenue increase of EUR 61m for HOYER. The

intermodal chemical business in Europe devel-

oped quite well over the previous year even with-

out the growth precipitated by the acquisition

(+6 percent). The gas station supply business

also registered a plus (+3 percent) mainly due to a

positive development of new business. Contrary

to those developments there were some revenue

losses in the food area because of lost customer

contracts. In the year covered by this report,

HOYER ended activities which resulted in losses

in the gas business. The consequent decline in

turnover was able to be offset by increased turn-

over from other businesses.

Return on Sales

The market’s tendency toward having excess

capacities of transport equipment due to high

industry investments while at the same time

showing stagnating demand for transport serv-

ices is keeping pressure on the operative margins

of transport orders. Competitors increasingly

keep trying to further internationalize their

business. For HOYER this means intensified

competition including in the global tank container

business. These developments led in the 2013

business year to high pressure on prices and

margins especially for European and worldwide

chemical transports as well as in the food

industry. The additional expenditures caused

by the acquisition of De Rijke’s liquid transport

business impacted earnings. Nevertheless,

the return on sales before taxes (EBT/revenue)

could be further increased to 3.3 percent

(previous year: 3.2 percent). This was made

possible through the reduction of loss-

generating businesses, the continued high use

of the transport equipment in a well-functioning

logistic network and structural shifts toward

business activities with higher margin yields.

Earnings before taxes amounting to EUR 35.6m

were 9 percent above the previous year

(EUR 32.6m). Despite difficult market conditions,

the HOYER Group was able to keep its return on

sales above 3 percent, which is also above the

industry average, and the company was thus

able to clearly exceed the target figures for 2013.

Fina

nce

Perf

orm

ance

Stunning Growth

Turnover: +5 %

EBT: +9 %

revenue decrease did not, however, have a major

impact on the HOYER Group’s overall revenues

because the Foodlog business unit generates only

6 percent of the group’s overall revenue and this

decrease was compensated by other areas. The

action plan for improving the financial situation

of the Foodlog business unit was effective. The

earnings generated by the bulk transport business

improved markedly over the previous year but the

overall earnings expectations were not yet met.

Revenues from the rental and logistic business

with intermediate bulk containers (IBCs), which

belongs to the Foodlog business unit, rose by

3 percent over last year. Results from this business

decreased slightly but remain at a very satisfac-

tory level. The price pressure, noticeable in all

business units, also had a deleterious effect on the

IBC business. Added to that were higher organiza-

tional costs for new hires necessary to implement

the growth plans for this business area.

Revenue of the Gaslog business unit, which is

responsible for the HOYER Group’s transport

logistics business with industrial gases, was at the

same level as in the previous year. The decline in

revenue related to the abandonment of non-prof-

itable business activities in two countries was

able to be fully compensated. A new business in

Sweden, begun in the previous year with initial

losses, moved out of the red and activities in

Hungary also developed in a positive way. This led

to an improvement of the earnings which are now

at a satisfactory level.

The supply of gas stations and bitumen transports

are the main activities of the Petrolog business unit.

Revenues in this business unit rose by 3 percent

over the previous year – especially with existing

and new business in England and Germany. The

volume of revenues with bitumen transports in

Germany declined, however. Petrolog’s earnings

are somewhat below the previous year’s which

had been influenced by a number of positive

effects. When adjusted for special influences

from the previous year, the operative earnings in

the year under review actually increased. Among

the main reason for this were improved earnings

from new businesses and the high process quality

and efficiency with major existing contracts.

The Techlog business unit comprises technical

activities (cleaning stations, workshops, depots)

and since 2013 also includes the Supply Chain

Solutions area (on site logistics, silo logistics,

drumming, terminals) which had previously been

part of the Chemilog business unit. Revenue

calculated on a comparative basis was below the

previous year primarily due to a decrease in order

volume for technical services in the Netherlands

and Belgium as well as for the silo business in

Germany. However, earnings increased slightly

over the previous year due to measures for im-

provement.

Outlook

In the future, the HOYER Group will strengthen its

position as one of the largest global tank container

operators. The company will further expand its

tank container fleet and make needed infrastruc-

ture investments in cleaning stations and depots.

Business activities in promising developing coun-

tries will be expanded. International cooperative

partnerships, such as a signed agreement for

a joint venture in Saudi Arabia in the year under

review, are a key component of this.

Finance Performance

11

Investments, Cash Flow and Financing

At over EUR 100m, investments made by the

HOYER Group during the year covered by this

report were at a record level. Areas of focus were

investments to replace and expand transport

equipment (tank containers, road tankers, inter-

mediate bulk containers) as well as the acquisition

of the De Rijke’s bulk liquid unit. Additional invest-

ments were made in further developing IT and

strategic projects for future business in growth

regions. In order to further expand the intermodal

business, the company took a stake in a terminal

for intermodal transportation in Antwerp. The

financing requirements exceeding operative cash

flow of EUR 71.7m (previous year: EUR 61.6m)

were covered by the use of available liquidity from

the promissory note issued during the previous

year as well as a slightly expanded use of existing

lines of credit. The HOYER Group’s net debt rose

in the year covered by this report to EUR 134m

(previous year: EUR 111m). With an EBITDA of

EUR 91m the debt ratio (net debt/EBITDA) rose

slightly over the previous year to 1.5 (previous

year: 1.4). Interest cost recovery (EBITDA/interest

expenditure) improved from 14.7 during the

previous year to currently 15.3. The equity ratio

was maintained at the high level of 40 percent.

Business Units

In 2013 revenue from overseas activities, which

are pooled in the Deep Sea business unit, fell

by 3 percent over the previous year. This slight

decline in EUR is due solely to exchange rate ef-

fects because the overseas business is conducted

in US Dollars. In the year under review, the

US Dollar was on average somewhat weaker

against the Euro. In particular, the rental business

with gas tank containers, which in the previous

year had been moved from the Gaslog to the

Deep Sea business unit, saw a revenue increase of

9 percent. However, because of its low business

volume it did not have a noticeable effect on

Deep Sea’s overall revenue. Despite stagnating

transportation volumes and the continued high

pressure on market prices due to new compet-

itors, the overall earnings before taxes and the

revenue margin of the Deep Sea business unit in

2013 was above those of the previous year. The

reason was a structural adjustment in the activity

portfolio benefitting a higher share of businesses

providing a more advantageous margin. The de-

gree of capacity utilization of the tank container

fleet remained at a high level. In the year under

review the Deep Sea business unit contributed

the largest share to the HOYER Group’s earnings.

Viewed over the long term, there is significant

growth potential in this business area due to in-

creasing globalization and the rise of production

volumes in the chemical industry particularly in

Asia, the Middle East and the USA.

Revenues of the Chemilog business unit, which

combines the European chemical logistics

business, increased in the year under review by

10 percent. This revenue increase stems mainly

from the acquisition of the bulk liquid business of

the De Rijke Group which contributed additional

revenues of EUR 61m to the Chemilog business

unit. An opposing trend was caused by the move of

the Supply Chain Solutions business area from the

Chemilog to the Techlog business unit. Without

De Rijke’s earnings and without the integration of

Supply Chain Solutions into the Techlog business

unit, the Chemilog business unit’s revenue was

2 percent above the previous year’s level. The

overall number of transports did not rise over

the previous year. However, decreasing revenues

from road transports were overcompensated by

a 6-percent increase in intermodal revenues. The

earnings of the Chemilog business unit before

taxes decreased noticeably. In the 2013 business

year, pressure on prices and margins continued

while activities stayed the same compared to the

previous year and while, at the same time, over-

capacities existed on the supply side in the market

for liquid bulk logistics. The intermodal business

acquired from De Rijke was not able to close with

positive earnings in the year under review because

project and integration costs adversely impacted

earnings. Synergies will only have a positive

effect after integration has been completed in

2014. A deficit also exists in the Russian business

started in 2011 even though improvements are

noticeable here. The Chemilog business unit

will continue to focus on the profitable growth

of the intermodal business and the necessary

further development of the European network.

Business for the Foodlog business unit continued

to be difficult in the year 2013. Revenues from

bulk transports decreased noticeably over the

previous year due to lost customer contracts and

the termination of loss-generating activities. This

Fina

nce

Perf

orm

ance

10

Chemilog Turnover: +10 %

Petrolog Turnover: +3 %

12

Six

Rule

sSix Rules for Producing Impressive Results

15

The six rules of logistics are clearly defined:

the right product is supposed to reach its recipi-

ent at the right time, at the right place, in the right

amount, in the right quality and at the right cost.

The chemical industry, too, is working according

to strict processes: only the exact combination

of raw materials under closely defined conditions

leads to a desired outcome. The Chemilog business

unit knows each product of the chemical industry

inside and out and supports its customers in

successfully carrying out their production process

by always providing the right product. Whether

polyols, polymers, isocyanates, solvents or res-

ins – chemicals are especially fragile and must be

transported, handled and stored very carefully.

The Europe-wide transport of glyceride, paraffin

and industrial alcohol for the cosmetics industry

is part of the daily tasks of the business unit as

well. Chemilog is closely tied into the production

processes so that the customer always has the

right product delivered. About 40 percent of the

products transported by Chemilog are hazardous

goods. “We are aware of the huge responsibility

which we carry”, says Günter-Friedrich Maas,

Director Chemilog business unit. “That is why

we continuously invest in the training of our em-

ployees.” In addition to providing regular training

courses in the handling of hazardous goods, the

company provides customized training courses

to the drivers in handling special chemicals like

hydrofluoric acid or acrylic acid. Depending on the

product requirements, Chemilog has the equip-

ment to handle each one – from the standardized

transport container to individualized builds. The

business unit carries out the largest share of its

transports intermodally in order to sustainably

minimize the environmental impact. In addition,

common standards which often surpass gov-

ernment-mandated ones guarantee the highest

degree of safety. In chemical logistics, the careful

handling of goods is essential. Each of HOYER’s six

business units is committed to reliably delivering

the right product to its destination.

14

The Right Product Si

x Ru

les

16 17

In science, there are a number of laws which

govern gaseous substances. Generations of

scientists searched for and eventually found an

equation linking pressure, volume, temperature

and quantity. But gas logistics also works with

another important dimension: the right time,

which plays an important role during the loading,

transportation and unloading processes. That

is why the Gaslog business unit works with its

customers to achieve perfect timing. Gaslog

is an experienced partner in the transport of

compressed as well as pressurized liquefied and

cryogenic gases. Stable processes, high safety

standards and direct contact with customers are

all hallmarks of the business. There are also tight

timeframes for the delivery of gases, which, for

safety reasons, are often outside of core business

hours or on weekends in order to accommodate

production processes. The business unit fulfills

all special requirements of the gas industry and

reacts flexibly to accommodate demanding cus-

tomer needs. “Our know-how in handling high-

grade gases is extensive”, says Wilhelm Wimmer,

Director Gaslog business unit. “Timeliness is our

highest priority.” In the gas business, the right

time not only refers to punctuality, but also to the

holding time which is the time from loading to the

first activation of the safety valves and is limited

to cryogenic gases. Heat and the resulting rise in

pressure lead to a shortening of the holding time, a

development which Gaslog limits through the use

of highly developed vacuum-isolated cryogenic

tank containers and road tankers. In addition, the

cooling down of the equipment before loading

significantly contributes to the freight reaching

its destinations throughout Europe. The safe

transport of liquefied gases is only possible if their

specific properties are known and used. The right

time is of fundamental importance in this process

as it is for each of HOYER’s six business units.

The Right Time

Six

Rule

s

1918

The right place is more than a specific point on

the globe whose location can easily be determined

through the use of coordinates. For logistics

providers in particular it is above all a place which

always needs to be reached quickly while using

the most efficient means possible. The Deep Sea

business unit is an expert in getting to the right

place by using its presence in 116 countries to

find the ideal combination of different modes

of transportation whether they involve sea, rail

or road. The business unit has the necessary

know-how and experience needed to deliver

goods to all corners of the earth. In fact, Deep Sea

knows no boundaries. The business unit works

for its clients in commercial centers as well as in

remote regions. Deep Sea is present in Singapore,

São Paulo, Dubai, Houston, Shanghai and

Rotterdam and coordinates global transportation

processes to distant locales from these locations.

For example, the business unit supports the imple-

mentation of two customers’ ambitious projects

in Papua New Guinea. One important task carried

out by Deep Sea is to transport lubricants using

the Pacific island nation’s winding, mountainous

roads. “Our employees are at home throughout

the world and know the local environments very

well”, says Michael Loscalzo, Director Deep Sea

business unit. “We all work together to make the

impossible possible every single day.” Deep Sea

uses a high-performance IT system and versatile

equipment in order to keep its promise to be a re-

liable partner to all clients everywhere. Individu-

ally equipped tank containers and custom-made

flexitanks ensure that liquid goods safely reach

their destination. Since each industry has its own

specific requirements, Deep Sea offers the right

mode of transportation for chemical products as

well as for foodstuffs, gas and oil. The demands

made on logistics increase as markets change and

centers of economic activity shift. HOYER’s six

business units accompany this change by using

their combined global presence and flexible sup-

ply chains to reach the right place.

The Right Place

Six

Rule

s

2120

Oil is the lifeblood of our economy. While

gasoline, diesel, kerosene, lubricants and bitu-

men form the very basis of our mobility and

growth, the Petrolog business unit ensures that

the right amount of these oil-based products is

regularly delivered to its customers: retail service

stations, airports and commercial customers

across seven European countries. While Petrolog’s

main focus is the reliable supply of global oil compa-

ny gas station networks, the business unit’s serv-

ices in fact extend beyond the mere delivery of

fuels. Petrolog also runs the entire logistics proc-

ess to ensure that service stations always have the

right amount of fuel available for their customers.

In order to determine the right amount, the

business unit uses its own proprietary IT stock

management and transport planning system

which constantly monitors fuel sales and reliably

forecasts future needs using data sets which were

developed based on the company’s long-term

business experience. As a result, Petrolog makes

sure that each gas station, even if it has limited

storage capacity, always has the right amount of

all fuels available. What makes this process even

more remarkable is that the business unit’s sub-

stantial fleet is on the road for several different

customers at the same time in order to take ad-

vantage of synergies and increase cost-efficiency

while simultaneously reducing its impact on the

environment. “We have a sophisticated system

to monitor service stations’ fuel stock levels and

re-supply the right amount when it is needed”,

says Mark Binns, Director Petrolog business unit.

“This enables our customers to focus entirely on

their core business.” Petrolog relies on the exper-

tise of its highly skilled employees to ensure the

smooth functioning of service station logistics.

Specialized transport equipment including fuel

delivery road tankers with a low tare weight and

up to eight compartments are deployed to enable

the maximum possible volume of several fuel

grades, to be simultaneously delivered to a single

forecourt. In addition to the oil industry, there are

a lot of other industries which depend on being

supplied with the right amount. As a result, pre-

cision is the only correct measurement for each of

HOYER’s six business units.

The Right AmountSi

x Ru

les

23

Color, appearance, consistency, smell and taste

are all central to quality controls in the food

business. Since these are also the characteristics

consumers use to decide whether goods

meet their standards, the right quality is of

the utmost importance to the food industry.

The Foodlog business unit has for decades

adhered to the highest quality standard which

is important because most foods have been

transported over some distance before reaching

the consumer. In order for liquid foodstuffs to

reach their destination with the same hygienic

quality with which they were loaded at origin,

Foodlog implements Europe-wide individual

logistical concepts for the food industry. To do

the job right, the business unit uses the latest

equipment consisting of tank containers, road

tankers and intermediate bulk containers.

Foodlog has developed a proprietary process,

which includes the use of GPS, among other

things, to guarantee the complete monitoring

and documentation of its transports. With goods

which are sensitive to changes in temperature,

such as warm chocolate or cool fruit concen-

trate, additional temperature controls support

maintaining a consistent, high quality. Heat or

cooling settings are even adjustable remotely via

computer or smartphone. Beyond that, a TQM

system adhering to DIN EN ISO 9001:2008 and

GMP+ along with regular internal and external

audits, ensure quality and safety. “The strict

implementation of hygiene regulations and

safety standards is a matter of course for us”, says

Wilhelm Wimmer, Director Foodlog business

unit. “And we can also conduct every transport

kosher or halal.” In addition to maintaining a

high quality standard, Foodlog is also committed

to minimizing environmental impacts which is

why a large part of food transports is carried out

using intermodal means. The right quality is not

only the highest maxim of the food industry, but

also one of six basic principles of logistics. HOYER

takes on this responsibility and makes sure that

each one of its six business units meets the

highest quality requirements.

22

The Right QualitySi

x Ru

les

25

Naturally, every customer is looking for first-class

services, minimal cost and more value added.

For the Techlog business unit, this wish list is not

contradictory because it offers a concept which

realizes long-term efficiency at the right cost.

It makes better use of all capacities, controls

processes more precisely and reduces interfaces.

Techlog carries out cleaning, repair and depot

services under the cotac brand and also runs the

Supply Chain Solutions business area. Whether

they are working on their own or together, both

divisions enable logistics processes to be carried

out smoothly and at low prices. A dense network

of stations ensures that services can be relied on

where they are needed. The cleaning stations,

workshops and empty container depots are all

co-located with the large centers of the European

chemical industry in order to generate cost savings

for customers by keeping distances to a minimum.

The business unit cleans and repairs all common

tank containers, road tankers and intermediate

bulk containers for all product specifications. It

offers a complete service package at market rates

which ensures that the transportation equipment

is again available for use in the shortest period of

time. Safety is priority number one, despite the

high pressure work, which is why all cotac stations

have been DIN EN ISO 9001:2008 and SQAS

certified. The Supply Chain Solutions business

area also realizes complete logistics processes

for its customers including plant logistics, filling

and blending liquid goods. “In order to optimize

transportation processes and to lower the cost of

logistics, we have to adjust many pieces all of the

time”, says Ingo Wiese, Director Techlog business

unit. “We thus have all the necessary tools.” To

offer excellent services at the right cost is a great

challenge which all of HOYER’s six business units

meet every day. All employees have internalized

the six rules of logistics and always deliver to their

customers the right product, at the right time, at

the right place, in the right amount, in the right

quality and at the right cost.

24

The Right Cost

Six

Rule

s

26

Busi

ness

Uni

ts

Heading toward the Future Together

29

Ipsum Lorem id em eres illuptatae28

The Chemilog business unit carries out all

European chemical transports in tank containers

and road tankers while focusing on achieving a

high percentage of intermodal transports.

In 2013 the business unit acquired the bulk liquid

unit of Dutch logistics provider De Rijke. The

addition allowed Chemilog to further expand its

strong market position in chemical logistics and

to increase its intermodal business by 40 percent.

De Rijke’s portfolio with its relations to and from

Great Britain, Scandinavia and Italy is an ideal fit

for the business unit’s growth strategy.

The further expansion of its Russian business

is among the business unit’s other successes.

Chemilog doubled the number of its tank contain-

ers in this region from 100 to 200 units. Rail trans-

ports of chemical products between the Ukraine

and the Russian east coast hold great promise for

the future.

After having previously acquired a majority stake

in Turkish forwarding company aktifsped, the

year under review was a period of consolidation

which saw aktifsped’s and Chemilog’s employees

in Turkey move to a common office in Gebze. This

allowed for the intensification of activities in the

Turkish market, the exploitation of synergies and

an attendant increase in the company’s competi-

tiveness.

Acquisition of De Rijke’s bulk liquid unit

Further development of

the business in Russia

Consolidation with aktifsped in Turkey

The Gaslog business unit offers Europe-wide gas

logistics in tank containers, road tankers and gas

cylinders. It values having well-trained employees

and is continually modernizing its equipment.

In order to manage its fleet for sustainability,

Gaslog in 2013 relied on the current Euro 6 trucks.

Benefitting the environment is Gaslog’s consist-

ent switch to the most modern engine technolo-

gies along with the use of electronic driving and

monitoring assistant systems as well as regular

employee training courses in economical driving

techniques.

During the year covered by this report, Gaslog

was able to increase the share of its intermodal

transports by 15 percent, improving not only the

efficiency of the business unit’s transports but

also influencing the CO2 balance. Intermodality

is above all a transport solution which is easy on

the environment. Tank containers transported

on railways or on water cause considerably fewer

emissions when compared to road transportation.

By using what are referred to as Multiple Element

Gas Containers (MEGC) the business unit intensi-

fied its transportation activities in compressed

noble and special gases such as neon, hydrogen

chloride and nitrogen trifluoride. Bit by bit, trans-

ports were switched over from the road to rails.

Investments in Euro 6 trucks

Increase of intermodal transports

Intensification of noble and

special gas transports

Efficient Gas Logistics

Leading in Chemical Logistics

Busi

ness

Uni

ts

30

31

Ipsum Lorem id em eres illuptatae

The Deep Sea business unit manages worldwide

transports in tank containers and flexitanks on

the road, rail and sea. One of the business unit’s

strongest growth regions is Asia.

In the year covered by this report, the business

unit’s global network was expanded through

a joint venture with the Sharaf Group and the

Globe Marine Group. The headquarters of the

new joint business is located in the Saudi-Arabian

port of Dammam. Through the new joint venture,

Deep Sea is able to fulfill the local requirements

as well as those of additional members of the

Gulf Cooperation Council.

In addition, the business unit has significantly

expanded its gas tank container fleet. The new

40 and 45-foot tank containers are ideal for trans-

porting LNG and are safer and more economical.

With this investment, Deep Sea sensibly expand-

ed its services and positioned itself for future

extraction and delivery structures of liquefied

natural gas.

The business unit was able to considerably

increase the international use of flexitanks in

2013 and moved the tanks’ entire production to

Southeast Asia. Here, the high-grade flexitanks

with a volume between 16 and 24 cubic meters

are produced based on individual product re-

quirements.

Establishment of a joint

venture in Saudi Arabia

Investments in 40 and 45-foot

gas tank containers

Increase of the flexitank business

Logistics without Borders

The Petrolog business unit is mainly responsible

for the Europe-wide distribution of petroleum

products to retail service stations and commer-

cial customers, focusing on a heightened level of

safety.

In 2013 the business unit began fitting forward

facing cameras in all delivery vehicles following

successful trials in the United Kingdom. The

windscreen mounted cameras capture and record

a 149-degree field of vision, allowing for the com-

prehensive documentation of its own employees’

driving behavior along with the surrounding

traffic. The goal is to find the causes of dangerous

situations more quickly and contribute to im-

proving safety.

In the year under review, Petrolog has secured

new business for retail fuels specialists, providing

a full service logistics solution which involves the

management of customer inventory, order and

transport planning in addition to the usual phys-

ical delivery service.

Petrolog also invested in modern low-emission

Euro 6 trucks after extending existing contracts

and acquiring new business with well-known

oil companies. This enabled the business unit to

deliver fuels to gas stations in a more efficient and

environmentally friendly manner.

Introduction of forward facing cameras

Acquisition of new business

Use of modern Euro 6 trucks

Innovative Oil Logistics

Busi

ness

Uni

ts

32

33

The Foodlog business unit develops trans-

portation solutions for the food industry and

implements them using tank containers and road

tankers in Europe. It also operates intermediate

bulk containers (IBCs) when specialized services

are required.

During the financial year 2013 Foodlog developed

innovative high-grade steel transport boxes for

IBC agitators which ensure their safe and hygienic

storage. Cleaning the agitators in the transport

containers according to the HACCP norm is simple

and effective. The IBCs are outfitted with agita-

tors to ensure even temperatures and to prevent

the products’ sedimentation.

The business unit also used the year under re-

view to further establish a new generation of

cooling/heating tank containers in the market

which have the advantage of being able to both

cool and heat the transported products. A fully

automated electronic system maintains the

ideal temperature at all times even while outside

conditions change.

An additional innovation is the introduction of

small pressure containers. The mini pressure

tanks can hold 1,100 liters and are made for the

transportation and storage of smaller quantities

of products under pressurized conditions. The

pressure tanks can be outfitted according to

individual requirements including RFID and GPS.

Development of transport

boxes for IBC agitators

Establishment of cooling/heating

tank containers

Introduction of mini pressure tanks

All-around Service for Logistics

Indispensable in Food Logistics

The Techlog business unit combines cleaning,

repair and depot services under the cotac brand

with the logistics services of the Supply Chain

Solutions (SCS) business area. Overall, Techlog

is geared toward growing its service portfolio in

Europe.

In the year covered by this report, SCS moved from

the Chemilog business unit and was integrated

in the Techlog business unit in order to add to

cotac’s services. SCS offers its customers complex

services and logistics operations for the entire

supply chain including plant logistics, the filling,

storage and handling of liquid goods as well as silo

logistics.

Since 2013 the business unit has also been work-

ing with a tank container rental company in a joint

venture for maintenance and repair services. This

enables Techlog to offer its customers special

workshop and depot services for gas equipment.

In order to expand intermodal transports within

the company and to strengthen its position in the

Benelux region, the business unit took a stake in

the Combined Terminal Antwerp (Combinant). The

terminal for intermodal transportation can handle

150,000 units per year. In addition to logistics serv-

ices, Techlog also intends to expand its technical

services focused on tank containers there.

Integration of the Supply Chain

Solutions business area

Cooperation in a joint venture

Taking a stake in the Combinant

terminal in Belgium

Busi

ness

Uni

ts

Inte

rnal

34

It Takes Many to Create Unique Results

36

The Human Resources corporate center (HR) is

not just charged with finding qualified employees

but also shares responsibility with management

to continuously foster staff’s growth. After all,

competent and motivated employees are a core

requirement for business success.

The year under review was the first time that an

employee survey was conducted in order to deter-

mine perceptions of the company as an attractive

place to work. The results delivered a lot of

information which will help in further developing

a company-specific employer brand.

Another novelty was the introduction of an

e-learning portal. This modern training tool means

that staff members do not have to be physically

present in a training facility but can complete the

training at their workplaces at a time most con-

venient to them. All commercial and industrial

employees profit from these web-based training

courses and can use them to constantly keep their

special knowledge up to date.

The implementation of new leadership princi-

ples was effective in strengthening employees‘

awareness regarding leadership as a quality which

is encouraged throughout the company. The

firm’s managers had attended several workshops

and drafted different approaches and personal

behaviours designed to best support staff in their

daily work. Leadership principles help create

a transparent leadership culture which allows

employees to know what they can expect within a

clearly defined framework.

Conduction of an employee survey

Introduction of an e-learning portal

Implementation of leadership principles

37

InternalThe Information Technology corporate center (IT)

supports all business areas when it comes to user

systems and the overall IT infrastructure. The

latter has to be constantly updated in order to

be able to flexibly adjust to demanding logistics

requirements.

The proprietary transportation management

system’s technology was modernized in 2013.

The first business unit to profit from this powerful

platform was Chemilog which used the system

to optimally manage transports on roads and

intermodally.

In addition, the introduction of a new customer

management system laid the foundation for

enhancing the company’s service quality. It is

seamlessly integrated into the overall IT system

and allows sales staff to quickly create proposals

and conduct efficient customer follow-ups.

The electronic exchange of data with customers

and operators of intermodal traffic was further

intensified in the year under review, enabling an

efficient and timely implementation of individual

logistics solutions. Tracking and tracing allows

for the monitoring of the entire supply chain and

automates the flow of data by geofencing.

Modernization of the transportation

management system

Introduction of a new customer

management system

Intensification of electronic

data exchange

The Latest in Technology

Focusing on Employees

Inte

rnal

38

The SHEQ corporate center oversees occupa-

tional safety, health promotion, environmental

protection and quality assurance. Compliance

with SHEQ principles, good SHEQ performance

and running the business with a strong safety

ethos are the top priorities throughout the entire

company.

In 2013, detailed figures on sustainability and

efficiency were published for the first time. By

releasing its Sustainability Report, the company

is confirming its commitment to long-term goals,

including the reduction of emissions. The increas-

ing focus on intermodal transport will continue to

positively influence the CO2 balance in the future.

Furthermore, a single worldwide multi-language

Emergency Number has been launched which can

be accessed from any country at any time. This

means that product, equipment and other tech-

nical information and advice can be immediately

provided and a physical response, together with

the local authorities can be initiated if necessary.

In the reporting year, a new Driver Manual was also

published in all relevant languages. The manual

serves as a uniform guide for drivers on safe road

transportation. It includes images that illustrate

operating procedures as well as important infor-

mation at a glance, including road traffic rules.

Publication of a Sustainability Report

Introduction of a single

Emergency Number

New edition of the Driver Manual

Improving Safety

39

Ipsum Lorem id em eres illuptatae

InternalThe Friedel and Walter Hoyer Foundation’s goal

is to give back a part of the company’s success to

the community, which is why it focuses on the

education of children and teenagers, among

other things.

In the year covered by this report, the foundation

supported the Leuphana Summer Academy

Luneburg-Harburg in Germany. This educational

project consisted of a three-week summer camp

in the Harz region including aftercare provided by

experienced teachers. 40 teenagers, who were at

risk of leaving school without graduating, partic-

ipated.

In addition, the Friedel and Walter Hoyer Foundation

again supported the CONCORDIA social projects

which look after children and young people in

Romania, Moldova and Bulgaria. CONCORDIA not

only cares for children and teenagers who used to

live on the street, but also for old and needy peo-

ple. The foundation’s board stays in close contact

with the organization in order to be able to best

support its social projects.

In 2013 the foundation also participated in

Kulturforum 21 in the German city of Hamburg

which initiates musical and artistic projects

among 21 schools from disadvantaged parts of

the city and those which have traditionally been

middle class. The projects’ goal is to foster inte-

gration and communication between students

from different personal backgrounds.

Support of the Leuphana

Summer Academy

Support of CONCORDIA social projects

Participation in Kulturforum 21

Success Means Responsibility

Inte

rnal

Inte

rnal

40

Worldwide Presence

HOYER Belgie N.V./Antwerp HOYER Slovenská rep. s.r.o./Bratislava HOYER Bulgaria EOOD/Burgas HOYER Italia S.r.l./Busto Arsizio HOYER Global Transport FZE/Dubai HOYER Ireland Ltd./Dublin HOYER Danmark A/S/Fredericia HOYER Türkiye Ltd./Gebze HOYER Norge AS/Gothenburg HOYER Svenska AB/Gothenburg HOYER GmbH

Internationale Fachspedition/Hamburg HOYER Finland OY/Helsinki HOYER Global (USA) Inc./Houston HOYER UK Ltd./Huddersfield

HOYER Polska Sp. z o.o./Katowice HOYER Luxembourg SARL/Kehlen HOYER Baltic Expedition UAB/Klaipeda HOYER (Svizzera) SA/Mendrisio HOYER Ukraine TOV/Odessa HOYER Nederland B.V./Rotterdam HOYER France S.A.S./Rouen HOYER Slovenija d.o.o./Ruse HOYER Global (Brasil) Ltda./São Paulo HOYER Sinobulk Transport Co. Ltd./Shanghai HOYER Global Singapore Pte Ltd./Singapore OOO HOYER RUS/St. Petersburg HOYER Hungária KFT/Szombathely HOYER España S.A./Tarragona HOYER Austria GmbH/Vienna

Employees

Equipment (2013)




2013 2012 2011 2010 2009


Turnover (TEUR) 1,087,048 1,033,939 1,034,589 989,812 852,186


Net income (TEUR) 25,518 23,032 27,596 18,152 18,355

EBIT (TEUR) 41,500 37,943 43,905 34,114 29,136

EBITDA (TEUR) 90,986 78,463 82,090 69,559 66,778




Capital

Equity (TEUR) 229,216 212,549 193,900 167,638 147,145

Equity ratio (%) 40 40 39 36 33


Returns







Key Figures Business Units

Ove

rvie

w


2,907Road tankers

22,706IBCs

2,216Truck units

HOYER GmbH


Head Office


20537 Hamburg

Germany

Phone +49 40 21044 - 0

Fax +49 40 21044 - 246




HOYER GmbH



Ewelina Jankowski

Janna Saul




2012 20132011201020095,0672013

4,9552012

1,034

1,087

1,035990

852

Deep Sea

Chemilog

Foodlog

Petrolog

Gaslog

Techlog

5

21

10

6

36

22


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