Sea and air freight

Decline in turnover at Quehenberger Logistics

The turnover of the Salzburg-based transport and logistics company Quehenberger Logistics, based in Straßwalchen, fell by around six percent to EUR 580 million in the 2023 financial year. While areas such as contract logistics and overland transport remained almost at the same level as 2022, there were losses in the air and sea freight business, Managing Director Christian Fürstaller announced on Tuesday.

The first half of 2023 was still very good in operational terms, but this was followed by a dip in the second half of the year. "The decline in air and sea freight rates affected the entire industry, and we were unable to escape it." At the same time, the company had set the course for further growth in the previous year - for example by significantly expanding the warehouse space under management by 26% to 769,000 square meters. "Due to the problems with the supply chains, more warehouse space is needed on site in Austria again. This space is a prerequisite for future growth in complex contract logistics," says Fürstaller.

With a stagnating economy, subdued consumption and geopolitical uncertainties, he wants to reach the previous year's figures again in 2024, or at best slightly exceed them. "The volumes are currently lacking, but we have still concluded new business in 2023." Quehenberger Logistics has been majority-owned by the German Geis Group for a year now.

Despite the decline in turnover, the 2023 result improved slightly, explained Jochen Geis, one of the two managing partners of the new majority owner. In the course of the takeover by the Geis Group, Quehenberger's turnover in 2022 was adjusted for special items - it fell from EUR 648 million to EUR 619 million.

Quehenberger Logistics is primarily active in Central and Eastern Europe and, according to its own information, employed an average of around 4,400 people (including temporary workers) at 69 locations in eleven countries in 2023. According to the company register ("WirtschaftsCompass"), the company is wholly owned by the Augustin Quehenberger Group. The Geis Group from Germany has held a majority stake of 66 percent since May 2023. The remaining 34 percent is held by Quehenberger CEO Christian Fürstaller. The Geis Group generated a turnover of around EUR 1.89 billion in 2023.