Wolfram Senger-Weiss, CEO of Gebrüder Weiss. Source: Gebrüder WeissOhligschläger
Lauterach, Austria-headquartered full-service logistics provider Gebrüder Weiss made earned net revenue of €2.47bn in its 2023 financial year.
This was down on 2022’s figure of €3bn but, despite this decline, the company remained above the more moderate upward growth trend it experienced between 2015 and 2020.
The Covid-related effects of the two previous years did not last into 2023. At €774m, net revenue in the company’s Air & Sea business area returned to levels seen in previous years.
Revenue was also stable in its Land Transport and Logistics business areas at €1.45bn, down slightly compared to €1.48bn in 2022 due in part to declining energy and fuel prices.
Wolfram Senger-Weiss, Gebrüder Weiss chief executive, announced: “Despite the challenges posed by general economic conditions, we have been able to help our customers enjoy success in their global sales markets with our first-rate service and increase the presence of Gebrüder Weiss with new locations in the USA and Germany.
“This is due first and foremost to the wholehearted dedication shown by our employees.
“Geopolitical conflicts and weaker global economic output had a negative impact on revenue and transport volumes,” Senger-Weiss noted.
But: “Our stable financial situation meant that, in 2023, we were still able to implement a comprehensive investment program[me] to expand both locations and services.”
Many projects that had to be postponed as a result of Covid could also now be carried out in 2023.
Investment in expansion
With a record investment of €187m, Gebrüder Weiss expanded its network in the German and US markets, as well as in South-eastern Europe, while also investing in customer projects and sustainable energy generation.
At the same time as it looked to expand its network, Gebrüder Weiss also invested in the digitalisation of supply chain management. Warehouse analysis functions have been added to its web-based customer portal, myGW, for instance.
The portal offers transparency along the entire supply chain and serves as a central information and communication platform for customers and their global shipments, covering everything from real-time tracking to estimated times of arrival.
The future
Following the downturn in global trade and signs of a recession, Gebrüder Weiss expects a slight economic upturn in the second half of 2024, which it forecasts will translate into more positive revenue development for the company.
Senger-Weiss stated: “We are now benefiting from the fact that we have a global position and can swiftly respond to economic upturns in individual regions with the necessary local logistics services.
“At the same time, we see confirmation of our ‘best of both worlds’ strategy. The last few years in particular have shown how important it is to invest in both the development of the operational network and the company’s digital expertise.”
