Gebrüder Weiss nears US$3 billion in annual revenue

Gebrüder Weiss, an international transport and logistics company, closed its 2024 fiscal year with net revenues of approximately US$3 billion, reflecting a 10% increase compared to the previous year.

The company experienced significant revenue growth across its key sectors. The Air & Sea segment recorded the highest increase, surpassing US$1 billion, a 21% rise from 2023.

“We’re firmly on track: Despite geopolitical and economic tensions, we gained market share and grew, countering the overriding trend. By investing in our network, automation and digital innovation, we succeeded in expanding our range of services and developing the transport solutions our customers need – with the explicit aim of guaranteeing supply chain stability,” commented Wolfram Senger-Weiss, CEO of Gebrüder Weiss.

This growth was fuelled by network expansions in the United States and Germany, increased transpacific trade volumes, and rising sea freight rates from China to Europe. Additionally, disruptions in the Red Sea forced container ships to take longer routes, contributing to market shifts.

Meanwhile, the Land Transport and Logistics sector saw a 5% increase, generating more than US$1.6 billion, including revenue from home delivery services in Austria and several Eastern European countries.

Despite economic challenges, Gebrüder Weiss maintained a 60% equity ratio, reinforcing its financial stability. It continued investing in its expansion strategy, allocating approximately US$135 million toward modernization, infrastructure, and green energy initiatives.

One of its major projects included the construction of a modern logistics and IT center near its corporate headquarters and the Wolfurt freight terminal in Austria. The company also expanded its facilities in Germany, Austria, Slovakia, Georgia, and Hungary, including an automated warehouse in Budapest.

In the United States, Gebrüder Weiss strengthened its presence by acquiring the air and sea freight forwarder Cargo Link in Salt Lake City, Utah, and opening a new branch in Phoenix, Arizona, increasing its North American network to 17 locations.

On the digital front, the myGW customer portal has continued to grow, with 25,000 registered users since its launch in 2020. This platform provides real-time tracking and greater transparency for customers, with ongoing refinements made throughout 2024 to enhance its functionality.

The company also made notable progress in sustainability. It expanded its use of solar power, installing additional photovoltaic (PV) systems in Hungary and Slovakia. Across its 34 operational PV systems, 13,000 megawatt-hours of electricity were generated, covering approximately 50% of the company’s total energy needs and reducing CO2 emissions by 2,738 metric tons.

To further cut carbon emissions, Gebrüder Weiss introduced electric delivery vehicles in Austria, Hungary, Croatia, and Romania and deployed its first two electric trucks in Germany, with 13 more planned for Austria.

Additionally, a large portion of its Austrian truck fleet has been converted to hydrogenated vegetable oil (HVO), which can reduce CO2 emissions by up to 90% compared to diesel fuel.

The post Gebrüder Weiss nears US$3 billion in annual revenue appeared first on Container News.