Den Hartogh Logistics presents its annual review
Den Hartogh Logistics has presented its annual review with highlights and key statistics for 2020. It said it was an “extremely volatile year”, thanks to COVID-19 and, to a lesser extent, the ups and downs of Brexit.
World trade in its entirety was affected and it took a toll on Den Hartogh. Fortunately, the first signs of recovery in volumes were noted by all Den Hartogh business units after the summer.
It added that 2020 was nevertheless a year to be extremely proud of. It celebrated its 100th anniversary and received the Royal designation.
In 2020, turnover reached the level of €487 million, a decline of 1.9 percent compared to 2019. This decline originated in the first half year – especially in Europe, where it experienced a substantial decline of volumes due to the pandemic in the second quarter. Since June, “volumes have recovered step-by-step” to return to 2019 levels.
There was also substantial pressure on margins, which it was largely able to offset by increased focus on procurement and reduction of overhead cost.
Lockdown of European countries in Q2 impacted overall business heavily, with an extreme negative impact on all volumes that go into the automotive industry.
But Den Hartogh said its strength lies in “how we think about solutions and find creative ways to conquer challenges with employees, customers, and network partners worldwide”.
For more information visit www.denhartogh.com
7th June 2021
