Hellmann Worldwide Logistics, which is part of the German logistics giant Hellmann Worldwide Logistics SE & Co, has its headquarters in Lichfield and depots in Daventry and Burton-upon-Trent.
The company, which employs around 270 staff – down from 290 staff in 2023 – provides freight forwarding and logistics services, including European road freight, contract logistics, warehousing, supply chain management services, and air freight and sea freight services.
Reporting its results for the year to 31 December 2024, the company revealed that overall turnover fell to £110.2m (2023: £110.5m), whilst gross margin dropped from 25.6% in 2023 to 24.1%.
Within this, road freight turnover fell to £17.6m, down from £20m in 2023.
Dividends from Rudolph & Hellmann Automotive, in which the company has a 50% joint venture share, also fell in 2024 to £550,000 (2023: £2.3m).
On a brighter note, the company reported turnover from the contract logistics division rising to £25.7m (£2023: £25.4m) in the period.
Despite this, the company’s profit before tax dropped to £4.7m during the year, down from £5.9m in 2023.
However the strategic report noted that the profit fall this year was in part driven by last year’s taxation credit of £4.7m, which boosted the company’s profit in 2023, and to the fall in dividends from its joint venture with Rudolph & Hellmann Automotive.
Commenting on the company’s performance, the strategic report to the results said: “2024 was yet another challenging year for both the UK and global economies, however, the company was well placed to deal with those challenges and was positioned well so as to take advantage of opportunities that arose.
“Road freight volumes continued to decline post-Brexit. The sea freight market saw volumes and margins tighten with excess capacity and tough global market conditions.
“Airfreight capacity and pricing improved, outside FEWB, during the year despite competitive pressure.
“Contract logistics had another extremely successful year particularly in the renewables subsector.”
Turning to its future prospects, the report said: “In 2025 the directors expect the company to continue to progress, with the objective of further growth in business profitably and volume with sustainable long-term customer relationships.
“The cost base is at a sensible level but is being continually reviewed particularly in light of the global and local economic challenges.
“The business is fit for growth in 2025 and beyond with a strengthened sales team in place.”
A request for comment from Hellmann Worldwide Logistics has yet to recieve a response.