Rohlig Annual Report 2008.pdf - Röhlig

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MANAGEMENT REPORT | GROSS PROFIT By DIvISON AND REGION 16 Pacifi c (Australia/New Zealand) There was an exceptionally positive development in business in the Pacifi c region in 2008. At a pretax profi t margin of 21.2 per cent of gross profi t, Australia achieved a record result with over AUD 4.4 million pre-tax earnings. With the Australian Dollar exchange rate markedly down, the yearon-year comparison on a Euro basis does not refl ect the real development. In 2008, our fi rst offi ce on New Zealand’s South Island was opened, at christchurch and Röhlig’s previous freight forwarding partner brought its business into the New Zealand company. Overall, the Pacifi c region proved able to increase its result over the previous year by 15.9 per cent. Australia/New Zealand in Euro ’000 2008 2007 Gross profi t 15,521 15,006 Thereof: Air freight 6,112 6,502 Asia Sea freight 9,409 8,472 Other 0 32 Adjusted net income 1,972 1,701 Employees 210 188 In 2008, the Asian branches were again the offi - ces with the highest earning power in the entire Röhlig Group. Despite the markedly lower air and sea freight volumes in the last quarter of 2008, the Hong kong and Singapore companies once more proved able to increase annual gross profi t growth, this time by 9.2 per cent. The investments made to expand our network in Southern china have already paid off , with the result improving by an above average 13.2 per cent. Asia* in Euro ’000 2008 2007 Gross profi t 7,866 7,205 Thereof: Air freight 3,807 3,958 Sea freight 3,962 3,242 Other 97 5 Adjusted net income 2,864 2,529 Employees 120 108 * Hong kong and Singapore America In total, the three country offi ces in America managed to increase gross profi t by 11.9 per cent over the previous year. To create a basis for future growth, considerable investment in personnel was made in the USA within a new organisational and sales structure. Since the US-offi ce had hardly been present on the Pacifi c route previously, our “Transpac” programme was launched in 2007 in cooperation with the Singapore, Hong kong and china offi ces. In 2008, the target of annually doubling sea freight volumes in the largest container shipping area in the world by 2012
America* in Euro ’000 2008 2007 Gross profi t 9,608 8,588 Thereof: Air freight 4,035 3,744 Sea freight 5,573 4,844 Other 0 0 Adjusted net income 32 913 Employees 132 91 * canada, chile, USA was met very eff ectively. The moves that led to the temporary reduction in earnings were introduced with the knowledge that this might be the price for the long-term development of our business in the USA. Röhlig Group The Röhlig Group includes both the consolidated companies, and also the associated companies in South Africa, china, South korea, Taiwan and the United Arab Emirates, in each of which we hold up to 50 per cent of the share capital. These companies are of considerable signifi cance to the Röhlig network and are included “at equity” in the consolidated accounts. South Africa Röhlig-Grindrod was able to further improve on its record 2007 result and is one of the most profi table Group companies. The slight decrease in gross profi t can be attributed to the weakness of the South African Rand, which lost 30.2 per cent of its value against the Euro in the reporting year. Sales and gross profi t in South Africa roughly account for a quarter of the consolidated companies’ sales. On the other hand, at Euro 284.4 million, the excise and import turnover taxes exceed that of the entire consolidated companies Euro 198.4 million – by more than a third. These fi gures give a clear picture of the enormous importance of customs business in South Africa. In addition to the network business with the other Röhlig companies, cross-border land and air transport with other states in southern Africa is growing in importance. South Africa 2008 2007 (50% share in capital) in Euro ’000 Gross profi t 20,785 21,883 Net income after taxes 3,428 3,028 Net income from equity consolidation 1,714 1,514 Employees 454 463 China Business in china is undertaken through two joint venture companies, one invoicing in Renminbi and the other in US dollars. Röhlig has a 50 per cent participation in both companies. In the fi rst three quarters of 2008, growth in the associated companies in china was 10.1 per cent expressed in local currency. In the fi nal quarter, weaker exports volumes from china led to a drop in gross profi t of 4.7 per cent compared to the previous year. Despite the chinese economy slowing, Weiss-Röhlig china was able to further expand its network of branch offi ces and invested in increasing trans-Pacifi c business with North America. The decrease in the result was primarily due to the additional personnel costs involved in expanding the operations. China 2008 2007 (50% share in capital) in Euro ’000 Gross profi t 5,957 5,844 Net income after taxes 1,162 1,816 Net income from equity consolidation 581 908 Employees 199 173 MANAGEMENT REPORT | RÖHLIG GROUP Röhlig Group 17
Page 1 and 2: ANNUAL REPORT 2008 SOLID - VIVID -
Page 3 and 4: Ladies and Gentlemen, Dear Röhlig
Page 5 and 6: Solid Chameleon [Greek, originally
Page 7 and 8: Vivid Red-winged blackbird: [Agelai
Page 9 and 10: Committed Cattle egret [Ardeola ibi
Page 12 and 13: MANAGEMENT REPORT | MARkET DEvELOPM
Page 14 and 15: MANAGEMENT REPORT | GROSS PROFIT By
Page 18 and 19: MANAGEMENT REPORT | RÖHLIG GROUP 1
Page 20 and 21: MANAGEMENT REPORT | STRUcTURAL cHAN
Page 22 and 23: ANNUAL BALANcE SHEET | ASSETS Conso
Page 24 and 25: ANNUAL BALANcE SHEET | cONSOLIDATED
Page 26 and 27: AUDITOR’S cERTIFIcATE 26 The audi
Page 28: 28 Röhlig & Co. Holding GmbH & Co.

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