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Full text: Annual report of the Duisport Group Issue 2008

2008 ANNUAL REPORT OF THE DUISPORT GROUP
RESOURCES · NETWORKS · SOLUTIONS

duisport Group Key data
(million Euros)
2008

2007

2006

2008/2007
change %

Sales (incl. non-consolidated sales)

139.2

128.4

64.1

+8

Sales

129.5

121.9

58.9

+6

Total assets

270.8

247.6

224.1

+9

Capital expenditures

45.8

60.3

46.0

-24

Earnings before interest, tax, depreciation
and amortization (EBITDA)

25.4

22.9

18.9

+10

Earnings after tax

4.0

3.3

2.4

+21

Employees

538

517

213

+4

2007

2006

2008/2007

All financial data adjusted for effects outside the ordinary course of business
Percentages rounded

Cargo Handled in all Duisburg Ports
2008

2007

2006

2008/2007
change %

Ship

51.0

52.9

50.3

-4

Train

28.2

27.9

22.7

+1

Truck

39.9

29.2

25.3

+37

Total

119.1

110.0

100.1

+8

Truck transfers estimated

Cargo Handled in the Ports of the duisport Group
(million tons)
2008

change %
Ship

15.4

16.0

15.6

-3

Train

12.9

12.6

10.1

+3

Truck

26.2

26.5

24.0

-1

Total

54.5

55.1

49.7

-1

All tons metric; percentages rounded, rounding tolerance 0.1

THE DUISPORT GROUP AND ITS SEGMENTS
DUISPORT – MORE THAN JUST A PORT
Duisburger Hafen AG owns and manages the Port of Duisburg,
the world’s largest public inland port, located on the confluence of the Rhine and the Ruhr. The duisport Group offers
complete port development, infrastructure and superstructure and investor support services. Companies of the Group
also provide logistic services complementary to the portfolio of port operators such as packing, rail transportation,
transportation chain development and facility management
services.
The duisport Group is both a partner of the logistics industry
and a partner that optimizes transportation chains. It is the
overall objective of the Group’s operations to strengthen Duisburg as a hinterland hub of the sea ports and a cargo gateway
to central Europe. Some 300 corporations with a focus on logistics operate in the Port of Duisburg. The Port provides directly
or indirectly work for some 36,000 people and induces investments which add up to over 250 million Euros each year.

INFRA- UND SUPERSTRUCTURE

TRANSPORTATION AND
LOGISTIC SERVICES

PACKING LOGISTICS

Duisburger Hafen AG
Owner and management company
of the public ports of Duisburg

duisport agency GmbH
Central direct transportation link
transportation chain and logistics
solutions marketing company

VTS GmbH
Packing logistics incl. transportation solutions
for the capital goods industry

Logport Logistic-Center Duisburg GmbH
Investment management and
consulting services

dfl duisport facility logistics GmbH
Port logistics, Warehouse services
Facility management

VTS Chemnitz GmbH
VTS Saxony and Eastern Europe operations

logport ruhr GmbH
Properties for logistics and services
in the Ruhr region

duisport rail GmbH
Public-utility railroad company and
flexible partner for railroad system
hookups

VTS International N.V., Antwerpen1
VTS Benelux operations

duisport consult GmbH
Port and logistics concepts

1

since February 2008, previously PortPack N.V.

VTS GmbH, Shanghai, Representative
Office, VTS China operations

PARTICIPATIONS

DIT Duisburg Intermodal Terminal GmbH
Trimodal logport container terminal
operations

D3T Duisburg Trimodal Terminal GmbH
Trimodal logport container terminal
operations

Masslog GmbH
Bulk cargo (chiefly imported coal) terminal

Umschlag Terminal Marl GmbH & Co. KG
Combined road-rail terminal in the
northern part of the Ruhr region

Antwerp Gateway N.V.
Sea port container terminal

2008 ANNUAL REPORT OF THE DUISPORT GROUP

2

3

Content

NOTE BY THE CHIEF EXECUTIVE OFFICER

4

EXECUTIVE BOARD AND
CORPORATE DEVELOPMENT COUNCIL

5

REPORT OF THE SUPERVISORY BOARD

6

SUPERVISORY BOARD

7

RESOURCES, NETWORKS, SOLUTIONS

8

CONSOLIDATED MANAGEMENT REPORT AND
MANAGEMENT REPORT OF DUISBURGER HAFEN AG

39

Economic Environment and Developments
in the Transportation Sector

40

Business Development

42

Business Segments
Infrastructure and Superstructure

46

Transportation and Logistic Services

48

Packing Logistics

56

Participations

57

Capital Projects

59

Staff

61

Risk Management

62

Subsequent Events

65

Outlook

66

EVENTS 2008/2009

70

ANNUAL FINANCIAL STATEMENTS
OF THE DUISPORT GROUP

77

Auditor‘s Report

106

Stockholders

108

Note by the Chief Executive Officer

5

4

EXECUTIVE BOARD

CORPORATE DEVELOPMENT COUNCIL

Dipl.-Kfm. Erich Staake, Düsseldorf

Heinz Lison

(Chief Executive Officer)

President

I would like to take this opportunity to thank all staff and managers for their great
commitment during the last fiscal year.

Executive Board | Corporate Development Council

Entrepeneur’s Association
Dipl.-Ing. Thomas Schlipköther, Essen

Duisburg

Markus Bangen, Düsseldorf

Bernd M. Michael

We have increased sales, net income and returns for the tenth consecutive year.
The entire duisport team has every reason to be proud of what has been achieved.
The long-term growth trend in the logistic sector not only came to a halt in

Managing Director

quarter 4, though. The financial crisis even caused a major downturn in the trans-

BMM Büro für Markenarchitektur GmbH

portation sector.

Düsseldorf

Since late 2008 we have seen massive slumps in cargo volumes which were
over 50 percent in some industries on an annual basis.
A port in a region still marked by iron, steel and coal like the Port of Duisburg is
of course hit particularly badly.
We are preparing for an extremely difficult economic environment in 2009 and

Reinhard Quint
Former Member of the Executive Board
ThyssenKrupp Services AG
Düsseldorf

beyond and have initiated the appropriate action.
We will nevertheless proceed with important strategic investments because we

Dr. Hans Rolf

are confident that the medium and long term prospects of the logistic industry are

Attorney-at-Law

excellent.

Cologne

Our Supervisory Board and our stockholders share this confidence and support our
forward-moving approach actively.
Our customers and our business associates can count on the dedication of the
duisport team in these hard times.

Prof. Dr. Michael ten Hompel
Managing Director
Fraunhofer Institute for
Material Flow and Logistics
Dortmund
Dr. Ludolf v. Wartenberg

Erich Staake

State Secretary (retired)

Chief Executive Officer

Berlin

Duisburg, June 30, 2009

Report of the Supervisory Board

7

6

Supervisory Board

SUPERVISORY BOARD
Presidium
the Supervisory Board kept itself informed about the position and the development of Duisburger Hafen AG and its subsidiaries and all essential business

Günter Kozlowski

Dr. Jens Baganz

issues through quarterly Executive Board reports and the reports presented by

Undersecretary of State, Ministry of

Undersecretary of State, Ministry of Economics,

the Executive Board members at the Supervisory Board meetings. Through these

Public Works and Transportation,

Small and Medium-Sized Industry and Energy,

reports and detailed debates of all matters submitted, it supervised the proper

State of North-Rhine Westphalia

State of North-Rhine Westphalia

conduct of the business of the Duisburger Hafen Group.

Chairman

Four meetings of the Supervisory Board were held in the 2008 fiscal year.

Heidi Batkowski-Himme

During the course of these meetings, the Supervisory Board reviewed all

Ursula Lindenhofer

essential issues and passed a large number of resolutions. The focus was on the

Accountant, Duisburger Hafen AG

expansion and the internationalization of the duisport Group services. Debates

Vice Chairwoman

and resolutions covered for example the establishment of logport ruhr GmbH
and consulting services for the development of new port and logistics concepts.
The annual financial statements for the 2008 fiscal year, the accounts of
the company and the management report were audited by Ernst & Young AG,

Clerk, VTS GmbH
Margot Best
Assistant Director, Ministry of Finance,

Adolf Sauerland

State of North-Rhine Westphalia

Mayor, City of Duisburg
Vice Chairman

Düsseldorf, elected auditors by the stockholders at general meeting in accordance

Dr. Wolf Richter
Advisor, Federal Ministry of Finance

with the requirements laid down by law. The audit confirmed that the accounts,

Uwe Schröder

the annual financial statements of Duisburger Hafen AG, the consolidated annual

Assistant Executive Director, Federal

Gregor Schaschek

financial statements and the management report comply with all legal require-

Department of Finance

Manager Internal Audit, Duisburger Hafen AG

ments and the memorandum and articles of association of the company. A final

Vice Chairman

examination by the Supervisory Board has not given rise to any objections, either.

Ulrike Schlink

The Supervisory Board has approved the annual financial statements of

Clerk, duisport agency GmbH

Duisburger Hafen AG, the consolidated annual financial statements and the
management report prepared by the Executive Board at its meeting today.

Bernd Törkel

The annual financial statements have hence been recognized as a true record

Assistant Executive Director,

of the operations of the company in accordance with Section 172 of the Stock

Federal Ministry of Transportation, Public Works

Corporation Act.

and Urban Development

The Supervisory Board concurs with the Executive Board’s proposal to
appropriate the profit of Duisburger Hafen AG of 5,128,671.50 Euros to the

Udo Vohl

legal reserve account of the company.

Councilman, City of Duisburg

December 31, 2008

Günter Kozlowski
Chairman of the Supervisory Board
Duisburg, June 30, 2009

Focus on Chemicals

9

8

FORMULA FOR BEST POSSIBLE SOLUTIONS

S

pecialists at Duisburger Hafen developed
a custom-made transport logistics concept for LANXESS, Germany’s biggest listed
specialty chemicals corporation and the
affiliated plant in Krefeld-Uerdingen. The
new concept helps switch 5,000 containers onto rail every year, avoids deadhead
transports to a large extent, and also
proves satisfactory to the client in two
ways. First, it is very cost effective, and
second, it meets entrepreneurial demands
for promoting eco-friendly transportation.

„A made-to-measure solution which
satisfies the diverse needs of the
LANXESS divisions was developped by
the duisport specialists and is now in
place for product transportation
to the sea ports. Together with duisport,
LANXESS gives priority to modes of
transportation which minimize
environmental impacts.“
GERD DEIMEL,
VICE PRESIDENT LOGISTICS & SUPPLY CHAIN,
ALISECA GMBH (LANXESS)

Focus on Chemicals

10

ULTIMATE NETWORKING

I

n the shortest amount of time the logistics
concept for LANXESS was developed and
implemented by duisport agency, the central marketing and distribution company of
Duisburger Hafen. It relies on two pillars:
the empty container yard in Duisburg and
the already existing shuttle network, in
which Duisburg, Rotterdam, and Antwerp
are integrated.
Instead of moving empty containers
all the way from the seaports to Krefeld,
empty container trains are shuttling only
20 kilometers between the yard and the
LANXESS production site Krefeld-Uerdingen. Here the containers are stuffed and
then moved on to Duisburg, where they
are distributed onto shuttle trains according to their respective destinations, five
times a week – punctually, safely, and dependably.
This example shows that individual
customer expectations and environmentally responsible requirements can be
successfully combined. The shuttle strategy of the modern duisport railroad experts has guaranteed this for a long time.
The new Duisburg shuttle network’s night
connection offers a perfect example: the
Glückauf-Express connects duisport with
Dortmund and the German seaports daily.

11

Focus on Mechanical Engineering

12

TRIMMED LOGISTICS FOR HEAVY LOADS

A

s the name states, there are no small
jobs in the heavy industries. It is evident that the types of machines required
for this industry are big, heavy, and bulky
– demanding special attention from suppliers and transport and packaging logistics.
Mechanical engineering and plant
construction industries accomplish these
tasks with partners capable of implementing intelligent logistics concepts and supplying sufficient storage capacities.

This is where duisport comes in with its
network service, resources, and solutions.
duisport offers everything this sector of industry requires: hub function centralization
for destinations in all of Europe, trimodal
capabilities with excellent water, rail, and
road connections, and the specialists of
VTS, a duisport subsidiary. They package
and haul even industrial loads above 100
tons professionally and dependably.

13

Focus on Mechanical Engineering

14

ONE SOURCE COMPREHENSIVE SOLUTIONS

T

his comprehensive package of re sources, logistics services, and available
infrastructure has ThyssenKrupp Technologies convinced of duisport’s capabilities.
Polysius, a subsidiary of ThyssenKrupp Group,
consolidates shipments from all over Europe at Duisburg Nordhafen. At the Beckum plant, parts are machined and manufactured and then shipped via Duisburg
using rail and ship to the seaports, and
from there all over the world.

“It just does not get boring with us.
I would have never thought packaging could be this diverse. During my
training I was introduced to various
fields of operations and operational
proceedings and still, it is fascinating
when we load parts that weigh over
100 tons.”
LUKAS BARCZYK,
VTS TRAINEE

Being a one source provider, duisport
assumes a great deal of its clients’ task
lists, such as storage provisions or choosing the best transport methods. duisport’s
clients can rely on a new found flexibility, trimmed processes, and eco-friendly
transportation.

15

Focus on Mechanical Engineering

16

THINK BIG!

I

t’s a long way from Dresden to Magnitogorsk, Ural Mountains, especially for
a 140 ton electric power train surpassing
each and every standard size. Via Elbe,
East Sea and thousands of miles of taiga
and tundra, this behemoth arrived safely
in a rolling mill of this industrial town.
This seven meters long, four meters
high and 3.5 meters wide giant was constructed in the VEM Sachsenwerk Dresden with its transportation requirements
in mind. The rotor was mounted onto a
crate base frame supplied by VTS Chemnitz, a duisport subsidiary. VTS employees
installed the sea proof packaging around
the rotor inside the Dresdner inland port.
The wooden crate with its valuable
cargo was shipped via the German network of waterways to Hamburg, and then
transferred onto a short-sea ship towards
Kotka, an East Seaport in Finland. There it
was loaded onto a Russian rail car.
The flexibility of this “smart crate”
made a difference. Being too bulky for
rail, crate parts were being quickly disassembled. The motor was never exposed to any weather conditions since
it was covered with a special tarp. The
transport reached its destination after
3,400 kilometers without any problems.
The disassembled base crate was now
reinstalled again. The crane could now
grab its hooks and place the power train
securely on the ground. Since then it has
been used for propulsion at the rolling
mill for sheet metal up to 5,000 millimeter width.

17

Focus on Energy

18

19

ENERGY FOR THE REGION

I

mported coal from South Africa, Australia,
Columbia, Poland, and China has replaced
domestic coal as the most important source
of energy. But no matter where it comes
from, Germany’s thirst for energy is hard
to satisfy without it. The black gold is the
source of at least half of the electricity
produced domestically.
The most important turntable for coal
imports, and therefore energy provider
No. 1 for the region, is Duisburg. Thanks to
numerous highly specialized cargo transfer enterprises, Duisburg became the most
important port for imported coal next to
Hamburg in the entire country. Coal is received, stored, and delivered as the energy
source to power plants and steel industries in a timely manner.

Focus on Energy

20

ENERGY SUPPLY RELIABILITY

P

ush barge trains with up to six push
barges move up the Rhine from Rotterdam and Amsterdam. A maximum of
18,000 tons of imported coal is lifted by
port cranes out of these barge bellies.
The result is energy supply reliability at
its best.
Eight cargo transfer enterprises supply
the power and steel plants of the region
with this resource. An incredible amount
of eight million tons of fossil fuel can be

transshipped annually by only five specialized coal terminals. Breaking and mixing
facilities prepare the coal to customers’
specifications, and it reaches its final recipients via rail.
In addition to coal, mineral oil is also
treated and processed at this location
which has a tank capacity of 600,000 cubic
meters and 19 transfer facilities available
for storage and distribution of liquid fuels.

21

Focus on Trade

22

CONSTANT STREAM OF GOODS FROM
ALL OVER THE WORLD

L

ess traffic on the road while increasing
the supply reliability in an eco-friendly
matter – an innovative block train-shuttle
concept made in Duisburg achieves all that.
The participants in this successful concept of “Combined Trafficking” are the
Rhein-Ruhr-Terminal Gateway West at
the logport II site as supply chain director,
duisport rail, train subsidiary of the duisport Group, and the block train-shuttle
Ost-Westfalen-Xpress (OWX).
Together they feed the warehouses of
international trade corporations in Unna/
Bönen. The central warehouse facilities
need a constant supply of goods from all
over the world arriving mostly in containers from overseas in the Benelux ports.
This is exactly where the logistics success
story begins.

23

Focus on Trade

24

RALLYE IN THE NIGHT

C

ontainers from seaports arrive on inland barges at the Gateway West Terminal, where they are consolidated and
loaded onto the supplied OWX train. The
containers are hauled to the trade corporations in Unna/Bönen, thereby avoiding
any type of traffic congestion. duisport rail
operates the train, thus ensuring punctual
return back in Duisburg at five o’clock in
the morning.

25

Focus on Trade

CASH AND CARRY

F

rom the train terminal to the warehouses of trade giants such as Metro,
Kik, and others, it is now only a stone’s
throw – about 300 meters. The OWX services this section six times a week. Loaded to its maximum, the train relieves the
roads of 81 containers every single time.
Annually, that amounts to 20,000 containers less on the heavily con-gested freeways of the area.

26

27

Focus on Sustainability

28

RESPONSABILITY AND SUSTAINABILITY

C

omprehensive concepts focusing on sustainability combine ecology, economy,
and social agendas that are geared to provide the next generation with quality of
life in a future oriented society.
duisport is supporting this effort. A new
intelligent traffic concept for the chemical
industries eliminates further 5,000 truck
journeys annually and drastically decreases empty container transports.
1,700 vehicles use the new Osttangente to the logport site daily. Noise reduction measures reduce traffic noise
emissions; cross-town traffic is almost
non-existent. The reclamation of highly
contaminated areas results in the creation
of appealing logistics terrain, such as the
logport II site. And of course projects with
renewable energy are being promoted,
such as the solar panels on logport’s roof
tops like the ones from Wincanton GmbH,
Duisburg (right) and Kühne + Nagel GmbH,
Duisburg (below). They are among the
largest in Germany and save 1,500 tons
of greenhouse gases yearly.

29

Focus on Sustainability

30

LONG-TERM SUCCESS

E

ven in times of economic downturns,
duisport’s priority is a long term strategy for development. This is especially
true where employment demographics
and a new generation of logistics personnel are concerned. duisport not only
provides training, but cooperates closely
with local schools.

31

Focus on Interconnections

33

32

RESOURCES, NETWORKS – COMPOSITE SOLUTIONS

T

he Ruhr valley area is working on its
logistics profile: logport Ruhr, a joint
venture of Duisburger Hafen AG and RAG
Montan Immobilien GmbH, develops and
markets logistics terrain of the region and
strengthens the Ruhr valley area as an in-

ternational logistics cluster in the heart of
the European markets. It profits from the
successful brand logport and its logistics
competence on one hand and the extensive property availability of RAG on the
other hand.

Ruhr Region as
European Industrial Core

Regional & Local
Feeder Train Services

Proximity to Consumers

Expertise in
Developing Logistics Properties

Continental
CT Network

Maritime
CT Network

Transportation Chain
Concepts

Focus on Interconnections

35

34

THE RUHR REGION‘S SYSTEM NETWORK

T

he cities of Duisburg, Essen, Gelsenkirchen, Marl, and Dortmund – and their
respective ports – are working together on
traffic and logistics concepts, developing
properties and thus strengthening the
Ruhr Region. The Ruhr valley area is turning into a system network. The Glückauf
Express connects Duisburg with Dortmund
and also the leading European channel
port with the Benelux ports as well as
Duisburg with the German seaports.

Hamburg

Rotterdam

31

Direct, multi-modal linkage with
global commercial transport

anal
ln C
tte
a
l-D
Wese

Rhine

2

52

1

Antwerp
3

Duisburg

2

Rhine

logport ruhr Area
e Canal
Hern

42

59
40

63 million customers can be reached
in 3 h; more than logistics companies
on location

45
43

Ruhr

40

Zeebrugge

1
Helsinki

Oslo

Stockholm
Tallinn
Riga

Copenhagen
Malmö

Dublin

Bremen Hamburg
Amsterdam
Berlin
Rotterdam
Zeebrugge
Duisburg
Antwerp
Le Havre
Brussels 200 km Frankfurt
Prague
Luxembourg
Paris
Munich
400 km
Vienna
600 km
Bern
Ljubljana

Vilnius

Minsk

London

Gateway and multi-modal
logistical hub for Europe

Duesseldorf

Cologne/Bonn

800 km

Madrid

1.000 km Marseille

Marseilles

Genoa

Ki

Bratislava

Chisinau

Budapest
Zagreb

Genoa

Bucharest

Sarajevo

Lisbon

Le Havre

Warsaw

Belgrade

Rome

Sofia

Istanb

Skopie
Tirana

Athens
Malta

Focus on Interconnections

36

37

LOGISTICALLY LINKED – CONNECTED SUCCESSFULLY

E

verything is connected like the links of
a chain. This is the underlying assumption of duisport’s strategy. Resources, networks and solutions are all geared to produce value for the customer, optimize
transportation links, reduce environmental impacts and generate demand.
Close cooperation with the Port of Dortmund has for example recently created
the Glückauf Express train which interconnects the ports of Duisburg, Gelsenkirchen
and Bochum five times each week. The
shuttle service gives Gelsenkirchen and
Dortmund access to the Belgian and Dutch
North Sea ports, while duisport benefits
from another regular link to the German
North Sea ports via Dortmund. The train is
in this way another valuable element in
the development of the Ruhr region into
Europe’s largest logistic center in which
the Port of Duisburg is the leading hub
and gateway to the markets of Central
Europe.

38

39

CONSOLIDATED MANAGEMENT REPORT
AND MANAGEMENT REPORT
OF DUISBURGER HAFEN AG

Consolidated Management Report

41

40

and Management Report of Duisburger Hafen AG

Consolidated Management Report
and Management Report of Duisburger Hafen AG

Economic Environment
and Development of the Transportation Sector

ECONOMIC ENVIRONMENT AND DEVELOPMENT OF THE TRANSPORTATION SECTOR
Global Economy in Crisis

Recession Spread to Germany

Logistic Markets hold their own

German Transportation Market1

2008 marks the end of a long period of economic growth.

Germany has been unable to escape the global economic

The German transportation and logistics sector has in

The all-mode freight transport volume rose by 2.3 percent

The financial crisis spilled over into the real economy in

crisis. Following a good start during the first quarter

recent years benefited from the strong increase in cargo

in 2008, while ton miles increased by 1.3 percent. Where-

the second half of the year.

of 2008, the German economy has since degraded and

flows. According to an estimate given by Fraunhofer-

as trucks and trains strengthened their positions, inland

slipped into a recession.

Gesellschaft, the sector expanded again in 2008 by a

barges lost ground.

The impact of the failure of the capital markets and
the global downturn throw dark shadows on the economic

The downturn was driven primarily by the increasing

notable 5 to 7 percent in spite of the economic downturn

Trucks moved 2.3 percent more freight than in 2007.

future. Apart from the United States, a number of German

weakness of foreign markets which affected capital

and the global financial crisis and generated total 2008

The highest growth rate was reported by the railroad

trading partners in the European Union and Japan are in

spending over the year. Growth was therefore almost

revenues of 215 to 220 billion Euros in Germany.

system which carried 4.9 percent more cargo than in 2007.

a deep recession. Growth in many important emerging

exclusively supported by domestic demand. Private-sector

markets has cooled down in some cases substantially.

consumption remained flat, though, and was insufficient

during the fourth quarter of the year, the industry was

Administrations in many countries have laid out huge

to halt the downward trend. Towards the end of the year,

confronted with a dramatic decline in prices and rates

financial packages to bail out the tumbling financial

industrial output and building activities declined as order

towards the end of the year as SCI Logistikbarometer

by 1.4 percent in 2008. The growth trend in ocean ship-

industry and to fight a potential credit crunch and passed

intake had fallen, while declining raw material and energy

reported. Logistic companies responded by cutting costs,

ping which set in several years ago slowed down in 2008.

stimulus packages to relaunch the economy. Action is

prices and the reduced strength of the Euro took some

postponing capital projects and stepping up marketing

Sea freight advanced by 2.6 percent.

coordinated at an international level to reign in the re-

of the economic pressure away. Against this backdrop,

activities.

cession and to encourage consumption and investment.

Germany still reported an increase in its gross domestic

transportation market in 2008 are discussed on pp. 48 of

product of 1.3 percent.

this Annual Report.

Due to the sharp decrease in economic growth chiefly

Different Market Trends
Sharp Fall in Exports

Developments in the steel, coal, oil product/chemical

The German balance of trade was disappointing in 2008.

and manufacturing industry sectors and other markets

Following double-digit growth rates earlier in the year

important for the Port of Duisburg differed substantially in

German foreign trade slumped in the fourth quarter.

2008. Steel output fell at a rate which became dramatic

Total exports and exports into European Union member

in the last quarter of the year. Hard coal sales decreased

countries fell, while exports into other countries still grew

moderately in line with long-term trends. The chemical

slightly.

industry, on the other hand, was able to maintain its

Germany still remained “Exportweltmeister”, closely

business at the 2007 level.

followed by China. During 2009, German exports will
decline again.

1

Source transport data 2008: Federal Statistical Office, Wiesbaden,
January 2009, all transportation percentages based on absolute
numbers, rounding tolerance 0.1

Containers were again the growth driver, up by 11 percent
on 2007.
In inland shipping, the transportation volume declined

Further details of the development of the German

Consolidated Management Report

43

42

and Management Report of Duisburger Hafen AG

Consolidated Management Report
and Management Report of Duisburger Hafen AG

Business Development

BUSINESS DEVELOPMENT IN 2008
Sales up by 8 Percent

The long-existing Infrastructure and Superstructure

10 Percent EBITDA Growth
4

The ratio between earnings and equity employed

Total revenues of the duisport Group incl. revenues from

Segment was able to boost its sales by 7 percent from

EBITDA are the key performance indicator used for value

reflected, as in preceding years, long-range efficiency

strategic investments climbed in 2008 by 8 percent from

31.2 million Euros to 33.3 million Euros. The Transportation

management in the duisport Group to further strengthen

enhancements. The focus of efficiency programs was on

128.4 million Euros to 139.2 million Euros. All Segments

and Logistic Services Segment grew again by 3 percent

earnings and the Group’s financial stability. These earnings

targeted acquisitions, the value-oriented development of

contributed to growth.

from 30.7 million Euros in 2007 to 31.6 million Euros.

were improved in 2008 and rose by 10 percent from

customer-specific products and responsible cost manage-

Sales by the Packing Logistics Segment moved forward by

22.9 million Euros to 25.2 million Euros. Duisburger Hafen

ment. Cost cuts were achieved through synergies from

6 percent from 55.0 million Euros to 58.3 million Euros.

AG accounted for 10.9 million Euros of the EBITDA.

the integration of the VTS Group acquired in 2007 in the

The increase in the Group EBITDA resulted from a higher

duisport Group during 2008. The merger of administrative

contribution of each Segment.

functions and procurement bundling have reduced cost
notably. The Group material intensity fell, for example, by
3 percentage points from 38 percent to 35 percent.

Revenues2 of the duisport Group by Segment
(million Euros)

Infrastructure and Superstructure

2008

2007

2006

2005

33.3

31.2

29.4

27.9

Transportation and Logistic Services

31.6

30.7

25.3

29.3

Packing Logistics

58.3

55.0

0

0

6.3

5.0

4.2

0.9

129.5

121.9

58.9

58.1

Other
Sub-total, consolidated Group
Unconsolidated investments

3

Grand total

2

incl. capitalized expenses and inventory changes

3

Group share in revenues (based on interest in equity)

9.7

6.5

5.2

2.3

139.2

128.4

64.1

60.4

4

Earnings before interest, tax, depreciation and amortization adjusted for the effects of the disposal of assets attributable to the exercise of tax
options available under Section 6b of the Income Tax Act

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Consolidated Management Report
and Management Report of Duisburger Hafen AG

Business Development

Net Interest at 2007 Level

Fixed Assets to Total Assets Ratio nearly Stable

Stable Cash Flow

Due to the Group’s active interest and cash management

The Group’s total assets rose by 9 percent from 247.6 mil-

In 2008, the duisport Group invested a total of 45.8 million

policy, the turmoil on the financial markets during the

lion Euros in 2007 to 270.8 million Euros. As the Group

Euros (2007: 60.3 million Euros) into property, plant and

second half of 2008 had no significant effect on results.

operates in the infrastructure sector, assets are largely tied

equipment and into financial assets. These investments

Net interest remained approximately at the 2007 level, alt-

up in fixed assets. The value of property, plant and equip-

were financed by subsidies, the cash flow from operating

hough bank debt has risen. The economic downturn which

ment owned by the Group is therefore high. The fixed

activities and the sale of properties. In total the Group

set in during the last few weeks of the year has, however,

assets to total assets ratio fell slightly from 89.2 percent to

invested more into the purchase of land than the funds

affected sales in some Segments.

86.5 percent. Most of the property, plant and equipment is

received from the disposal of port tracts. The total area of

accounted for by land, buildings and the port infrastructure.

land owned by the Group increased in 2008.

The net income of Duisburger Hafen AG rose by
2.0 million Euros from 3.1 million Euros to 5.1 million

Net current assets rose by 37 percent from 26.1 million

Euros, while the revenues of the parent company in-

Euros to 35.7 million Euros mainly due to cash manage-

14.5 million Euros to 25.5 million Euros. The cash flow

creased by 1.3 million Euros from 21.6 million Euros to

ment operations. Further optimization of receivables

from investment activities improved from -51.2 million

22.9 million Euros.

management and factoring reduced the number of days

Euros to -41.3 million Euros, as a substantial part of

for the payment of invoices by three from 35 to 32.

the logport I and logport II work had been completed in

The cash flow from operating activities rose from

2007. The cash flow from financing activities fell from
Equity to Assets Ratio Unchanged
The equity to assets ratio remained unchanged at
37 percent during the 2008 fiscal year. Provisions rose
from 38.3 million Euros to 49.6 million Euros.

Sales and Earnings Development of the duisport Group
(million Euros)
2008

2007

2006

2005

139.2

128.4

64.1

60.4

EBITDA

25.2

22.9

18.9

18.0

Equity

99.2

92.6

82.7

79.3

EBITDA return, %

25.5

24.7

22.9

22.7

Sales5
6

5

incl. capitalized expenses, inventory changes and strategic investments

6

The adjustment described was made for all EBITDA data

33.8 million Euros to 24.3 million Euros.
In total liquid funds increased by 8.5 million Euros
during the 2008 fiscal year.

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Consolidated Management Report
and Management Report of Duisburger Hafen AG

Infrastructure and Superstructure Segment

INFRASTRUCTURE AND SUPERSTRUCTURE SEGMENT
Higher Sales

New Tenants and Facility Extensions

Sales by the Infrastructure and Superstructure Segment

in the logport I Logistic Park

owned by the companies of the duisport Group were

sioned at the logport I port in early 2008. It is the first

grew by 7 percent from 31.2 million Euros in 2007 to

Bertschi, the bulk cargo operator, acquired a 95,000 sq.m.

rented to tenants in 2008. The total high-grade ware-

European inland terminal built by a shipping line and is

33.3 million Euros.

property for the construction of a railroad terminal chiefly

housing capacity for contract logistics (incl. customer

operated by NYK and CMA CGM together with the duisport

for chemical products in 2008. Duisburg Intermodal Ter-

facilities) increased from 600,000 sq.m. to 680,000 sq.m.

Group. D3T features four tracks each long enough for a

Land: 455 Hectares Used for Commercial Operations

minal (DIT) increased its premises for container transfers by

in 2008. The 300 companies in the Port of Duisburg

half train. The gantry crane operated by duisport facility

The revenues of the Infrastructure Division from tract

20,000 sq.m. GUD Gesellschaft für Umweltdienste added

currently use a covered outdoor storage area of a total

logistics GmbH is used for both barge and railroad con-

leases increased by 6 percent from 19.7 million Euros in

16,000 sq.m. to its property located on the logport port.

of 1.5 million sq.m.

tainer transfers.

2007 to 20.8 million Euros. 16.8 million Euros (2007:

A number of logport I tracts were sold. Indunorm, a

16.2 million Euros) were accounted for by the traditional

company of the Würth Group, purchased for example

80,000 sq.m. of Warehousing Facilities

Gateway West Terminal went in operation exactly one year

port on the eastern bank of the Rhine, while the logport I

30,000 sq.m. HaLog, a project developer, bought another

Built by Customers

later in January 2009. The terminal is also equipped with a

site on the western bank of the river contributed 4.0 mil-

14,000 sq.m. to increase its warehousing capacities used

In April 2008, Schenker opened a 7,000 sq.m. ware-

bridge crane for both waterside and train cargo handling.

lion Euros (2007: 3.5 million Euros). 455 hectares through-

by Siemens Healthcare Diagnostics Products (formerly

house for multimodal logistic solutions at its logport site.

The 35,000 sq.m. terminal grounds will be completed in

out the whole port were leased for commercial use in

Dade Behring). UnionStahl enlarged the size of its property

Buhlmann Rohr-Fittings-Stahlhandel extended its

2009.

2008 (2007: 436 hectares).

by 29,000 sq.m. to 70,000 sq.m.

covered warehousing capacities at logport again by adding
a third 14,000 sq.m. building and has operated over

Interbulk Group: New Multimodal Terminal

Eastern Port: Production of Winches and Wind Turbines

tic companies. Six new tenants were won for the exten-

37,000 sq.m. of warehousing facilities since May 2008.

The duisport Group is currently building a terminal for the

The DUSS combined road-rail transportation terminal was

sion of the logport Office Center alone, diversifying duisport

Kühne + Nagel, the international logistic service provider,

InterBulk Group. The company is the global tank container

logistic services further.

started up its new 24,000 sq.m. building at the logport I

market leader and Europe’s largest bulk container operator.

In 2008 the duisport Group let offices to over ten logis-

7

extended by an area of 17,000 sq.m. to a total size of
87,000 sq.m. In 2008. Stahlrohr acquired an additional

Some 220,000 sq.m. of warehousing floor space

The Duisburg Trimodal Terminal (D3T) was commis-

At the logport II location in the south of Duisburg, the

Logistic Park in August 2008 and now operates approx.

InterBulk’s largest terminal to-date is under construction

26,000 qm in the Kaßlerfeld Logistic Park and will use the

Superstructures: 680,000 sq.m. of Warehousing Capacity

50,000 sq.m. of warehousing installations at this location.

on a 20,000 sq.m. tract in the Free Port area in Duisburg

site for outdoor storage. Bulk cargo logistic service provider

Revenues in the Superstructure Division from warehouse

The company has also run facilities in the Kaßlerfeld

Ruhrort. The new terminal will serve as the company’s

Fromberger rented an extra 16,000 sq.m. in the Meiderich

and other building leases for logistic activities rose in

Logistic Park for many years.

Central European hub.

part of the port. Steger & Windhagen, the winch manufac-

2008 by 9 percent from 11.5 million Euros to 12.5 million

turer, built a production facility in the Ruhrort port. Eviag

Euros. Properties east of the Rhine contributed 4.4 million

further 24,000 sq.m. of warehousing structures at the

leased a 22,000 sq.m. tract in the Mercator Island part of

Euros (2007: 4.1 million Euros), while income from logport

logport I Logistic Park. DHL and Ceva Logistics are among

the port where it plans to build a wind turbine factory.

I structures west of the Rhine totaled 8.1 million Euros

the users of theses facilities. On the eastern bank of the

BMW Overdreef finally built a car showroom at “Am Nord-

(2007: 7.4 million Euros).

Rhine, Rhein-Ruhr Collin, a reseller specialized in the

hafen”.
The 100,000 sq.m. “Railroad Port” area in Ruhrort was

The Port of Duisburg has in recent years developed into

Garbe Logistics, the project developer, completed a

building services engineering sector, moved into its new

one of Europe’s leading logistics centers with a focus on

headquarters and 31,000 sq.m. distribution center in the

transferred to a property developer in 2008 and will be

value adding logistics. State-of-the-art facilities designed

Kaßlerfeld Logistic Park in early 2008.

converted to new urban uses. August Storm (ship engine

for customer needs are ideal for truly European trans-

maintenance) therefore moved its business to a 4,500 sq.m.

portation and logistic systems. Logistic service providers,

D3T and Gateway West: Two new Terminals

property leased at “Am Nordhafen”.

manufacturing companies and distributors benefit from

Two container terminals were opened in the Port of

advanced cargo handling installations and high-grade

Duisburg within the span of one year. The land and the

warehousing facilities.

facilities are in both cases owned by the Port. dfl duisport

During the course of the acquisition of a 70,000 sq.m.
stretch of land bordering on the logport II site east of the
Rhine, the duisport Group took over a number of existing

facility logistics GmbH operates both crane bridges.

leases covering a total area of 29,000 sq.m.
7

All tract size data rounded

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Consolidated Management Report
and Management Report of Duisburger Hafen AG

Transportation and Logistic Services Segment

TRANSPORTATION AND LOGISTIC SERVICES SEGMENT
Freight Transportation Weak in Fourth Quarter8

Inland barges were the only mode that lost customers.

Revenues in the Transportation Division Slightly Down

Bulk Cargo Inconsistent

Growth of the German transportation sector continued

In 2008, the transportation volume declined by 1.4 percent

Revenue-generating ship and railroad cargo volumes

Ship and rail bulk cargo throughput fell slightly. It declined

in 2008, but the expansion slowed down significantly

from 249.3 million tons in 2007 to 245.6 million tons. Ton

decreased by 1 percent from 28.6 million tons in 2007 to

by 4 percent from 13.9 million tons in 2007 to 13.3 million

towards the end of the year. Data for the full year were

kilometers decreased by 1.1 percent from 64.8 billion ton

28.3 million tons. Growth during the first nine months of

tons. With a throughput of 6.2 million tons, (imported) coal

published by the Federal Statistical Office. The all-mode

kilometers to 64.0 billion ton kilometers.

the year was fully absorbed by the downturn in the fourth

remained the most important product (2007: 6.8 million

quarter.

tons). The Port of Duisburg is next to Hamburg Germany’s

freight transport volume increased in 2008 by 2.3 percent
9

The sea freight market which has made progress for a

to 4.5 billion tons (2007: 4.4 billion tons). All modes

number of years continued to grow, albeit at a slower rate.

with the exception of inland shipping grew.

The cargo volume of 319.1 million tons was 2.6 percent

4 percent lower than sales in 2007. Income decreased

higher than in 2007 when it was 315.1 million tons.

from 11.6 million Euros to 11.1 million Euros.

Domestic ton kilometers10 excluding air and sea

The revenues generated by these cargo volumes were

most important port for the importation of coal.
Oil and chemical products made progress and advanced by a total of 8 percent from 4.2 million tons to

shipments exceeded the 2007 level by 1.3 percent. Trucks

Growth in this segment of the transportation market

and trains strengthened their positions, while inland

was faster than the rate at which the trucking market

Railroad Transportation up by 3 Percent

dominated by spot transactions, cargo volumes slumped

barges lost ground.

expanded.

Shipping declined by 3 percent from 16.0 million tons in

by 23 percent from 1.3 million tons in 2007 to 1.0 million

2007 to 15.4 million tons. Railroad cargo, on the other

tons. Scrap and other cargo declined from 1.6 million tons
to 1.5 million tons in the wake of the economic downturn.

4.6 million tons. In the building materials market which is

Highest Growth Rate Reported by Railroads

Port of Duisburg: Slight Reduction of Cargo Throughput

hand, increased by 3 percent from 12.6 million tons to

Trucks dominated the cargo transportation market and

In 2008 ship, train and truck cargo throughput in the

12.9 million tons. The development of both modes paral-

had a share of 77 percent in the total freight volume.

Port of Duisburg incl. private company ports totaled about

leled national trends.

According to an estimate published by the Federal

120 million tons (2007: 110 million tons)11.
In the ports of the duisport Group, ship, train and truck

Department of Transportation, Public Works and Urban

Existing services were in most cases highly utilized and
services to new destinations were added. Duisburg has

Development, they carried 3.47 billion tons in 2008, up

throughput fell by 1 percent from 55.1 million tons in 2007

become the most important combined road-rail transpor-

by 2.3 percent on 3.43 billion tons in 2007. Domestic ton

to 54.5 million tons.

tation hub in the sea port hinterland, but is also a leading

kilometers increased by 1.6 percent from 466.0 ton kilo-

European combined road-rail transportation gateway. 350

meters to 474.1 ton kilometers.

scheduled departures per week connect the port on the

The highest growth rate was recorded in the rail freight

Rhine with all important industrial and trade regions on

transportation market. The freight volume of 379.0 million

the continent. In addition, there are numerous conven-

tons was 4.9 percent higher than in 2007 (2007: 361.1 mil-

tional railroad connections.

lion tons). Ton kilometers increased by 1.9 percent from

Truck movements (feeder and distribution traffic)

114.6 billion ton kilometers in 2007 to 116.8 billion ton

decreased by 1 percent from 26.5 million tons to

kilometers in 2008. Containers were the growth driver.

26.2 million tons.

Their volume rose by 11 percent.

8

Source: Transport data 2008: Federal Statistical Office, Wiesbaden,

9

January 2009, all transportation percentages based on absolute

10

Product of freight transport volume and kilometers shipped

numbers, rounding tolerance 0.1

11

Company truck shipments estimated

All tons metric

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Transportation and Logistic Services Segment

Growth of General Cargo

Reduced Demand for Steel

Cargo Volumes in the Ports of the duisport Group

General ship and rail cargo volumes handled in the ports

Iron, steel and non-ferrous metal cargo decreased due to

by Mode and Type of Cargo

of the duisport Group rose by 3 percent from 14.7 million

the economic weakness by 10 percent from 5.8 million

(million tons)

tons to 15.0 million tons. For the fourth consecutive year,

tons in 2007 to 5.2 million tons. The downturn in the auto-

general cargo outperformed bulk cargo and accounted

mobile industry is one of the reasons.

for 53 percent of all freight volumes. These data confirm
the transformation of the Port of Duisburg into a modern
all-cargo port. Containers (incl. roll-on/roll-off freight)
were again the largest cargo group and accounted for
35 percent of all ship and rail transfers. Container throughput increased by 10 percent from 8.9 million tons in 2007
to 9.8 million tons.
1 Million TEU Passed for the First Time

Bulk cargo
General cargo
Ships
Bulk cargo
General cargo

2008

2007

Change, %

9.3

9.3

0

6.1

6.7

-9

15.4

16.0

-3

4.0

4.6

-14

8.9

8.0

+12

Trains

12.9

12.6

+3

Ships and trains

28.3

28.6

-1

Trucks

26.2

26.5

-1

Total

54.5

55.1

-1

2008

2007

Change, %

6.2

6.8

-8

Expressed in twenty-foot equivalent units (TEU), container
volumes rose to 1,006,000 TEU (2007: 901,000 TEU), up by
12 percent, and involved over 2 million container moves.
In spite of the decline in the fourth quarter ship volumes
totaled 359,000 TEU and were just 3 percent below the
2007 level of 370,000 TEU).
Growth in the container market was driven by rail cargo
as in preceding years. Combined road-rail transportation
soared by 22 percent from 531,000 TEU to 647,000 TEU.

Ship and Rail Bulk and General Cargo Volumes
in the Ports of the duisport Group by Cargo Group
(million tons)

Coal
Oil/chemical products

4.6

4.2

+8

Building materials

1.0

1.3

-23

Scrap/other

1.5

1.6

-6

Bulk cargo

13.3

13.9

-4

5.2

5.8

-10

Iron/steel/non-ferrous metals

9.8

8.9

+10

General cargo

Containers/combined transportation/roll-on roll-off

15.0

14.7

+3

Ship and rail cargo

28.3

28.6

-1

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and Management Report of Duisburger Hafen AG

Transportation and Logistic Services Segment

Logistic Services: Synergies for the Port

Merchandise from the Sea Ports to Unna

Transportation and Logistics Solution

The companies of the duisport Group provide a wide

The Antwerp/Zeebrugge Shuttle Train which also runs five

for a Mechanical Engineering Company

duisport agency include the control of port facility income

range of logistic services which are complementary to the

times a week added the APM Terminal to the CHZ and

duisport agency developed again hinterland transportation

and expenditure. The company also provides marketing

operations of companies in the Port and attract more cargo

P & O terminals visited in the Belgian port in September

solutions including feeder and distribution services for a

and networking services to the duisport Group. It presents

to Duisburg. These services managed by the subsidiaries of

2008. This connection won new customers for the OWX

range of customers in the manufacturing industry and in

for example the port at trade fairs and exhibitions and

Duisburger Hafen AG continued to make progress in 2008.

railroad shuttle service via the Duisburg consumer goods

logistics in 2008. These customers included for example

organizes the annual Advisory Council visits intended to

The revenues of the Logistic Services Division increased by

hub. The OWX train takes these containers to the Unna

a mechanical engineering company in the ThyssenKrupp

develop and strengthen business contacts. The Council

8 percent from 19.0 million Euros to 20.5 million Euros.

distribution centers operated by retailers such as Metro.

Group for which duisport agency developed and imple-

traveled to Paris and Le Havre in spring 2008.

Apart from Unna, Bönen in East Westphalia was connected

mented an integrated transportation and logistics strategy

duisport agency:

by the OWX shuttle train to the European road-rail trans-

together with VTS.

A Strong Partner for Transportation Solutions

portation system. Since January 2009, the train has run to

The development of new transportation chains and shuttle

the newly commissioned logport II Gateway West Terminal

Networking the Ruhr Logistic Region

services, the optimization of existing connections and

six times a week, since demand is high.

In spring 2008 duisport concluded a cooperation agreement

the creation of customized cargo handling, logistics and

with the Ruhr region ports of Essen and Gelsenkirchen

transportation solutions all form part of the core business

intended to promote common waterway and railroad

of duisport agency GmbH (dpa). The cross-company mar-

transportation concepts with the objective of strengthening

keting organization of the duisport Group is the main port

the region and reducing pollutant emissions. The ports

customer contact and offers solutions which often inte-

also agreed to cooperate in the development of zoning

grate the services of port companies and other partners.

and marketing strategies and to support each other by

In 2008, duisport agency strengthened all existing rail
shuttle and regional feeder services. It agreed, for example,

resorting to the resources of each of the parties.
As a result of this in March 2009 duisport agency

a new road-rail transportation chain for chemical products

started the Glückauf Express train Service. The train con-

which are moved from the ChemSite Industrial Park in Marl

nects the ports of Duisburg, Gelsenkirchen and Dortmund

to the Port of Rotterdam. duisport agency also set up a new

five times a week and gives the ports of Gelsenkirchen

transportation link for Lanxess/Aliseca which has shipped

and Dortmund access to the Dutch and Belgian sea ports

chemical products by container train five times a week

via Duisburg. The Port of Duisburg, on the other hand,

between Krefeld Uerdingen and Duisburg since summer

benefits from a scheduled service in operation between

2008. This train is operated by duisport rail.

Dortmund and the German North Sea ports. The Glückauf Shuttle Service is therefore a valuable element of a
strategy designed to develop the Ruhr region into Europe’s
largest inland transportation hub with the Port of Duisburg
as a gateway to the markets of Central Europe.

Apart from these activities, the responsibilities of

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Consolidated Management Report
and Management Report of Duisburger Hafen AG

Transportation and Logistic Services Segment

duisport rail: Local and Regional Train Services

duisport facility logistics: Broad Portfolio

Warehouse Services for Several Customers

duisport rail GmbH is a public utility railroad company.

dfl duisport facility logistics GmbH (dfl) provides port

Specific logistic services offered by dfl duisport facility

Apart from numerous port feeder services, the company

infrastructure as well as port and customer property

logistics are bundled in the Warehouse Services business

operated various regional railroad shuttles such as the

management services. Property services from construction

unit. These services in the past provided together with

OWX service. These operations tie the Port and its cus-

consulting to building management services are provided

PCD, a sister company of dfl duisport facility logistics,

tomers into the national railway system. duisport rail also

by the “Facility Management” unit which received ISO 2001

were consolidated in one company on January 1, 2008 to

provides point of loading, single wagon, weighing and

certification from DQS. Activities include building cont-

streamline the operations. The business unit is for example

freight car inspection services In 2008 capacity utilization

rol system maintenance, plant and electrical equipment

responsible for heat exchanger supply chain management

on the regional lines was high and sometimes higher

inspection, repair, maintenance and where necessary

from collection to storage, packing/stuffing and shipment

than in 2007.

upgrade, security and winter service as well as building

(together with duisport agency) for a major mechanical

rehabilitation services.

engineering company of GEA Group. dfl duisport facility

In 2008, dfl duisport facility logistics also supervised

logistics stuffs containers for overseas transportation for

the North Port backfilling operations and the VTS building

numerous customers such as ThyssenKrupp (coils and

and office construction work at this location. Further, the

plates), Hellmann (automotive parts) and Berger Logistik

company prepared the relocation of the port building yard.

(consumer goods). In many cases the contract awarded

dfl duisport facility logistics performed a number of

by the customer covers transportation to a sea port.

projects for external customers. It was for example respon-

Several large manufacturing companies have also retained

sible for the logport II Gateway West Terminal design and

dfl duisport facility logistics for the intermediate storage

construction and the construction of a Haeger & Schmidt

of their products.

International warehouse. Activities also included the

The Port Logistics business unit of dfl duisport facility

invitation of bids for Bertschi’s combined road-rail terminal

logistics is responsible for road and waterway maintenance

in the logport I Logistic Park and the management of the

in the port incl. the logport II area. Crane operation is a

construction of apartments, offices and shopping malls on

new activity of the unit. Since May 2008 it has operated

the Railroad Port property sold by the Port.

the bridge crane at the new logport I D3T Terminal.
The gantry crane at the new logport II container terminal
followed in January 2009.

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Packing Logistics Segment

Participations

PACKING LOGISTICS SEGMENT
Sales up by 6 Percent

Consolidated Management Report

PARTICIPATIONS
Proprietary order picking software is used for some

Duisburger Hafen AG held interests in various container

Regular scheduled ship and rail services connect the

The Packing Logistics Segment consists of the VTS Group

of the operations. VTS has also developed software to

and coal importation terminals in 2008. A property

DIT terminal with the ports on the Western seaboard for

with operations in Essen/Duisburg, Chemnitz and (since

communicate with the site logistics software of a plant

development and marketing company was created in early

which the terminal is a key hinterland hub. In 2008 train

January 1, 2008) Antwerp. 2008 sales totaled 58.3 million

contractor. Apart from containers for unusual shapes and

2009. The activities of these organizations are reviewed

services to Poznán, Warsaw and Slawków in Poland and

Euros, up by 6 percent on 55.0 million Euros in 2007.

sizes, VTS developed in 2008 a box adjustable for use on

below.

Manchester in England were added to the existing Euro-

The VTS Group develops logistic solutions mainly for
export projects of mechanical and plant engineering

pean railroad connections.

ships and trains.
In the 2008 fiscal year VTS provided for the first time

UTM: Cargo for the Glückauf Express

Ship and railroad container volumes totaled some

companies and is the leader of this market. VTS provides

warehousing services for a range of customers. These

Duisburger Hafen AG owns an interest of 33.3 percent in

208,000 TEU in 2008, up by 22 percent on 170,000 TEU in

efficient customized packing and transportation services

services include storage, documentation, order picking and

Umschlag Terminal Marl GmbH & Co. KG (UTM) which oper-

2007. Trains accounted for 73 percent of this cargo.

for small parts, dangerous and heavy cargo, machinery and

shipment. Since 2009 VTS has also performed contract

ates the combined road-rail terminal in the Marl Chemical

equipment and complete industrial plants. A proprietary

logistics work for a manufacturer of grid components and

Park. The same percentage interest is held by Infracor and

D3T: In Operation since Spring 2008

software program, a loose parts tracking and tracing

operated a distribution warehouse including inventory

Rinnen.

The Duisburg Trimodal Terminal (D3T) in the logport Logis-

system, provides transparency and control at any place

management and order picking.

and at any time anywhere on the globe.

The UTM Terminal is connected to the European com-

tic Park in Duisburg Rheinhausen went into operation in

bined road-rail transportation system and the sea ports via

spring 2008. CMA CGM, the French shipping line, and the

Success in East Germany and China

the Port of Duisburg. UTM provides terminaling, storage,

Japanese NYK Line each own 40 percent of the terminal

largely be moved to Duisburg. VTS operates numerous

At its Chemnitz location, VTS handled contracts for the

transportation and associated services to the companies in

operating company, Duisburger Hafen AG the remaining

packing stations at the manufacturing plants of clients in

East German capital goods industry (e.g. mechanical

the Chemical Park and to other customers. The transfer of

20 percent. dfl duisport facility logistics is responsible for

the capital goods sector. As required for the international

engineering, printing machine manufacturing and

bulk and tank containers as well as swap bodies to trains is

terminal crane operation.

projects of these customers, VTS packs and ships their

computing) in 2008. A large number of the jobs awarded

an important contribution to taking traffic off the roads.

products around the globe. In March 2008 the company

to the VTS companies in Duisburg, Essen and Chemnitz

set up its own offices in China.

were performed together with the VTS staff in the Port

initially been very successful. However, the international

of Antwerp.

economic crisis has affected the activities of the chemical

During 2009, the remaining Essen activities of VTS will

Major Projects in Europe and Around the World

The VTS office in Shanghai in China was equally

In the 2008 fiscal year the UTM Terminal had

companies since autumn 2008 and volumes at the

In 2008 VTS completed numerous major projects. The

successful and provided packing services to a range of

terminal have therefore declined sharply. Since March

company was for example responsible for the entire

customers in the mechanical and plant engineering

2009 Marl volumes for the Glückauf railroad shuttle service

packing logistics services required by a plant engineer

sectors. Contracts focused on work in the Shanghai area,

between Duisburg and Dortmund have improved UTM

for the shipment of several fertilizer and propane dehy-

but projects were also completed in Wuxi, Dalian and

Terminal utilization.

dration plants to Egypt. Grid components were forwarded

Tianjin.

to China and to Italy in 2008 and in early 2009. 100 to

DIT: New Railroad Links to Destinations in the West

150 ton crusher rolls have been packed and stored for a

and the East

major mechanical engineering company since 2008. As

The DIT Duisburg Intermodal Terminal in the logport Logistic

intended when the VTS Group was acquired, Duisburg

Park is a trimodal interface for European ship, road and rail

serves in this and other projects as a hub for the

container transportation. Apart from Duisburger Hafen AG

customer’s operations and has achieved a modal shift from

(24 percent), the shareholders of the DIT terminal include

road to rail. Packing and shipping contracts have been

Contargo (66 percent), a company of the Rhenus Group,

performed for a wide range of other customers including

and Hupac, the Swiss freight train operator (10 percent).

for example a power station contractor, a steel processing
plant manufacturer and a company which makes installations for food packing.

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Participations

Capital Projects

CAPITAL PROJECTS
Some 50 Million Euros Invested into the Future

The two global shipping lines use the terminal for

In 2008 the Antwerp Gateway Terminal sea cargo

local and regional as well as for gateway traffic. Several

throughput was 775,000 TEU (2007: 570,000 TEU). Barges

In the 2008 fiscal year the duisport Group spent 45 million

by the duisport Group on a 20,000 sq.m. tract in the vicinity

barge and train shuttle services connect the terminal with

accounted for another 320,000 TEU (2007: 220,000 TEU).

Euros (excluding subsidies) on infrastructure and super-

of the Ruhrort Free Port. The InterBulk Group, the lessee

the sea ports of Rotterdam, Amsterdam, Antwerp und

Trucks and trains added 520,000 TEU, raising total terminal

structure projects and financial investments (2007:

of the facility will start its cargo operations in the third

Zeebrugge. Following initial train loading and unloading by

throughput for the year to over 1.6 million TEU.

60.3 million Euros). Capital projects were funded by

quarter of 2009.

reach stacker after terminal start-up in February 2008, the

In view of the economic outlook of the Antwerp Gate-

A terminal for containerized bulk cargo is being built

investment subsidies, the cash flow and the sale of land.

bridge crane for railroad and waterfront operations went

way Terminal, loans made to the company were written

23.0 million Euros were absorbed by infrastructure

logport I: D3T Terminal Started up

into service in May 2008. The development of terminal

down by 1.3 million Euros.

projects (2007: 36.6 million Euros), 21.2 million Euros by

The new Duisburg Trimodal Terminal (D3T) was built in

superstructure projects (2007: 18.0 million Euros)

2007 and 2008 on a 30,000 sq.m. tract in the logport I

throughput was encouraging during the first part of the
year, but suffered a setback during the fourth quarter in

logport ruhr: Joint Venture set up

and 1.6 million Euros by financial and other investments

port in the immediate vicinity of the DIT terminal. Track

line with the trend at other terminaling facilities.

The consistent development of a logistic network involving

(2007: 5.7 million Euros).

construction, pavement work and work on the office

strategic partners is an essential element of the success

building were completed in 2007. As scheduled the

Masslog: Volume up by 4 Percent

of the duisport Group. Against this backdrop, the duisport

Construction Work in Ruhrort

railroad facilities of the terminal went into operation in

Coal importation is the core business of the Masslog

Group decided to set up a property development and mar-

The North Port backfilling operation in Duisburg Ruhrort

January 2008. The container bridge followed in May 2008.

Terminal located at Rhine Quay North. 70 percent of the

keting joint venture together with RAG Montan Immobilien

which started in 2007 will be completed by the summer

The new Rheinhausen East Bypass which connects

shares are owned by HTAG Häfen und Transport AG.

GmbH in 2008. The joint venture company was registered

of 2009. The multi-purpose building for the packing,

logport to the interstate highway system east of the Rhine

Duisburger Hafen AG has an indirect interest of approx.

at the beginning of 2009. Duisburger Hafen AG and RAG

storage and warehousing activities of VTS, a duisport Group

was opened in September 2008. Logport Logistic-Center

20 percent, the remaining shares of 10 percent are held

Montan Immobilien GmbH hold a share of 50 percent

company, in this part of the port will be available for the

Duisburg GmbH was responsible for the management of

by the Port of Amsterdam.

each. logport ruhr GmbH will in future market attractive

company’s operations in the third quarter of 2009.

the construction of the Rheinhausen Bypass built with the
support of the State of North-Rhine Westphalia.

Clients come mainly from the manufacturing industries

properties in the Ruhr region for logistic operations. The

The construction of another building for the VTS packing

and the power generation sector and use the unloading,

duisport Group will contribute its logport brand and its

services in the North Port featuring direct access to

feeder and distribution as well as stockpiling and storage

expertise in transforming brownland into logistic parks to

the waterway and the railroad system will start in late

functions of the terminal. Ship cargo increased again by

the new company. RAG Montan Immobilien, on the other

summer.

over 4 percent in 2008 and rose from 730,000 tons to

hand, will make available properties from the huge port-

760,000 tons.

folio of the RAG Group.

The construction of the new building yard of the
duisport Group started in January 2009. A building with
1,400 sq.m. of office and workshop floor space was

Antwerp Gateway: Hinterland Transportation

erected on a 2,500 sq.m. tract near the Inner Port. The

Duisburger Hafen AG holds an interest of 7.5 percent in

facility went into service in June 2009. The building yard

the Antwerp Gateway sea terminal. With an interest of

had to be moved to provide space for an expansion of

42.5 percent, DP World is the largest shareholder followed

the DeCeTe container terminal at the former building yard

by Cosco Ports and ZIM Ports (20 percent each) and Ter-

location in Ruhrort.

minal Links SA (CMA CGM Group) which owns 10 percent.
The container terminal services both marine vessels
and inland barges and features a railroad terminal. Regular
shuttle services connect the Antwerp Gateway Terminal
with the Port of Duisburg for fast and efficient hinterland
transportation. Transportation chains move overseas cargo
to and from Duisburg, the Duisburg region and destinations
in South and East Europe.

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Capital Projects

Staff

STAFF
logport II: Gateway West Terminal in Operation

Financial Investments

VTS Integration Completed

The development of the former metal smelting works

In the 2008 fiscal year the Duisburg Group acquired Grund-

In the 2008 fiscal year, the duisport Group employed an

property for logistic activities was completed in late 2008

stücksgesellschaft Südhafen GmbH, which is now a fully

average of 538 persons (2007: 513). Both the expansion

and the new logport II container terminal went into

consolidated Group company. The investment transferred a

of the service portfolio and the internationalization of

operation in January 2009. The gantry crane was delivered

63,000 sq.m. property to the Group. Duisburger Hafen AG

the Group’s business have made substantial progress due

to the terminal operator in December 2008. 300 meters

also acquired VTS International N.V., purchased securities

to the commitment of all employees. The integration of

of Rhine quay were renewed, a total of 4 kilometers

to protect part time retirement entitlements against

the packing logistics operations in the duisport Group has

of railroad tracks were constructed, utility lines were laid

insolvency risks and granted loans to companies in which

been completed. Notable synergy effects were achieved

and the connection to the public highway system was

interests are held. These transactions did not have a major

between Group companies and between the Port and its

improved.

influence on the assets and the earnings of the Group.

customers.

In early 2008, the duisport Group acquired another
7 hectares of real estate adjacent to the logport II property.
The land allowed a substantial improvement of the
logport II railroad connection. The 50 meter wide strip
along the river also facilitates barge-to-train cargo transfers. Another 3 hectares owned by the City of Duisburg
were integrated in the overall logport II site which has
now reached a total size of 33 hectares.
Employees of the duisport Group
Hohenbudberg Property Purchased
The duisport Group bought the 8.5 hectare property of the

Duisburger Hafen AG

former Hohenbudberg marshaling yard of Deutsche Bahn.

Logport Logistic-Center Duisburg GmbH

The yard is located west of the Rhine at a distance of

Infra-/Superstructure, sub-total

approx. 2 railroad kilometers to the logport I Logistic Park
and will in future be used for logistic operations. Site
clearance work was finalized in late February 2008. Railroad track design is scheduled for 2009.

2008

2007

139

130

5

7

144

137

duisport agency GmbH

21

20

duisport rail GmbH

31

29

dfl duisport facility logistics GmbH

39

27

0

11

91

87

250

241

52

48

1

0

Packing Logistics, sub-total

303

289

Grand total, duisport Group

538

513

12

PCD Packing-Center-Duisburg GmbH
Logistic Services, sub-total
VTS GmbH
VTS Chemnitz GmbH
VTS International GmbH13

12

Operations integrated in dfl duisport facility logistics GmbH on
January 1, 2008

13

First consolidated on January 1, 2008

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Risk Management

RISK MANAGEMENT
Identification of Opportunities and Risks

Highly Limited Risk Potential

Responding to the Crisis

Sustained Trust in the duisport Group

Group-wide risk management is a key element in the

The risk portfolio consists of 13 potential risks of a total

The economic crisis prompts more competition which

The global financial crisis has increased market volatility

control of opportunities and risks and employed as a

value of 38.1 million Euros. Risk management action

leads to crumbling prices. In this market environment

sharply and resulted in higher standards for financing

systematic tool of operations management and the

reduces these risks to a total potential risk of 26.0 million

the duisport Group will continue to position the Group by

long-term capital projects and refinancing operations.

management of strategic development. It is an effective

Euros equivalent to some 8.7 million Euros per year.

customized high-grade services and will quickly adapt to

The duisport Group has so far not experienced any credit

new market needs.

restrictions. The sustained trust in the Group is explained

support of Group budgeting and control processes. In
organizational terms risk management is a unit in the

Dramatic Economic Downturn

management accounting department. The unit cooperates

The global economic and financial crisis is a major chal-

and logistic centers and associated marketing risks have

the duisport Group as well as by the solid shareholder

closely with risk managers in the Segments of the Group.

lenge for the logistics sector. While the industry enjoyed

in the past been controlled through the high service

structure. The duisport Group enjoys a high measure of

remarkable growth rates during the last few years, it is

quality provided by the duisport Group. The Group plans to

creditor trust.

requires a balanced opportunity and risk profile which

now faced with the effects of a dramatic economic down-

continue this successful strategy to strengthen its market

accommodates both the operations and the strategic

turn reflected clearly by indicators such as ocean freight

position, to increase company value and to achieve finan-

ment and growing capital market demands the duisport

objectives of the Group. This profile is adjusted by the

rates. According to the Federal Statistical Office (Destatis)

cial objectives.

Group minimizes its financial risks. Risk minimization is

risk management function as necessary.

the 4th quarter 2008 ocean liner freight index was

The value oriented development of the duisport Group

Risks resulting from competition between inland ports

Apart from regional cooperation as for example the

by the high creditworthiness and the financial success of

In view of the increasingly difficult financial environ-

a priority concern for operating financial transactions, the

16.9 percent below that in the 4th quarter of 2007. The SCI

joint venture set up together with RAG Montan Immobilien

funding operations of the Group and the valuation

and the express management of opportunities and risks

Logistikbarometer business climate index also shows this

GmbH duisport plans to strengthen its good relations with

of assets.

throughout the Group create a high degree of transparency

trend. The index was +50 in September 2006 when the

logistic centers and transportation hubs as well as with

In the duisport Group cash flows are monitored con-

and facilitate the optimization of corporate processes.

boom on the logistic market peaked. It dropped to -50 by

customers abroad to stimulate further growth through

tinuously by effective cash flow management. To manage

The Supervisory Board and the Executive Board are

the end of December 2008 and climbed again to -30 at

stable new transportation links and cargo flows. Con-

interest rate risks, interest rates are largely hedged using

regularly informed about major individual risks as well

the end of January 2009.

sidering the sound financial position of the duisport Group

interest derivatives. Swap contracts are entered into in

an expansion of market shares is an important growth

order to switch as much as 100 percent of existing or

In December 2008, 73 percent of all companies projected

opportunity in an economic crisis. The duisport Group will

expected variable-interest indebtedness into fixed interest

requirements of the Corporate Control and Transparency

a deterioration of their business in 2009. At the end of

therefore continue to seize market opportunities where

debt. On December 31, 2008 some 70 percent of the

Act. Essential elements of risk management are provided

2007 the share of these pessimists had been no more

risks are acceptable.

Group’s credit lines had been drawn down. The risk struc-

for in Group Risk Management Rules which must be

than 4 percent.

Uniform opportunity and risk valuation principles

as global risks.
The risk management system installed satisfies the

complied with by all companies of the duisport Group. The

The logistic industry expects 2009 to be a difficult year.

The growth of the duisport Group was faster than the

ture of the credit portfolio is controlled using ratios and
Controlling Operating Risks

checked regularly against market consensus. Derivative

effectiveness and the efficiency of the risk management

market average in some segments. Combined road-rail

Adequate procedures are in place to control disruptions in

Instrument Management Rules have been in effect since

system are reviewed regularly by Duisburger Hafen AG’s

transportation reported for instance double-digit annual

operations and security threats. As regards computing for

2005.

Audit Department.

growth rates over a period of seven years. This develop-

which strict security standards have been introduced an

ment will not be maintained in 2009. Due to the highly

emergency system warrants the maintenance of critical

difficult environment cargo volumes will rather drop

IT functions. Executives and staff are trained regularly to

significantly.

ensure that the departure of key personnel will not disrupt
important business processes.
High project and quality management standards call
for a continuous improvement of processes and procedures
in a learning organization. Auditors monitor compliance
with objectives which are adapted by the Executive Board
as required. Liability, fire, machine breakage and business
interruption risks are insured as far as possible.

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Risk Management

Subsequent Events

SUBSEQUENT EVENTS
Political and Social Responsibility

The development of the economic and financial crisis is

long-term arrangements. The transactions always remain

The activities of the duisport Group are influenced by the

monitored and analyzed continuously to allow an immediate

between agreed limits. It is the objective of these

legal, political and social environment in which the Group

response to changes affecting the duisport Group. No sub-

transactions to avoid interest rate volatility for long-term

operates. For this reason the duisport Group supports

sequent events with a significant impact on the earnings or

capital funding requirements and to keep interest below

directly and indirectly associations to contribute its

the assets of the duisport Group have occurred.

a defined level.

expertise to opinion making on political issues of concern

The duisport Group works with several banks under

The availability of liquid funds is secured by credit lines

to the transportation sector. Apart from the creation of

agreed with several banks. Covenants limit indebtedness

jobs the duisport Group promotes social and cultural

by stipulating that Group equity will not drop below

projects in its immediate neighborhood in which it acts

30 percent of total Group assets. In the event of changes

as a corporate citizen.

in Duisburger Hafen AG’s shareholder structure banks are
entitled to terminate credit arrangements.
Currency risks are currently of minor importance. If

No Critical Risks in spite of Crisis
The risk environment in which the duisport Group operates

they increase as the operations of the duisport Group

has changed in the wake of the financial and economic

become more international, appropriate action will be

crisis. Existing profit and loss pass-through agreements

taken. Commercial credit insurance has been agreed in

with most subsidiaries and centralized cash management

business units concerned to cover default risks.

transfer the economic risks of the Group companies largely
to Duisburger Hafen AG. The Group structure is shown in

Review of Strategic Decisions

the Notes to the Accounts. Price, default and liquidity risks

The duisport Group is a key player in developing the

or cash flow risks relevant for an evaluation of the financial

Duisburg logistic sector, but is also committed to regional

position of the duisport Group do not exist. All companies

development and the promotion of the logistic industry in

of the duisport Group dispose of adequate equity resources

North-Rhine Westphalia. Strategic positioning is crucial in

which reflect corporate objectives and company risks. In

this context. To validate strategic decisions, the manage-

2008 Duisburger Hafen AG identified no risks which could

ment company of the Group reviews the risks of strategic

individually or together threaten the existence of the

programs. The economics of major capital projects are

duisport Group.

reviewed by controllers in accordance with Group Capital
Project Rules before the investment of funds is authorized
by the Executive Board and the Supervisory Board.

Consolidated Management Report

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Outlook

OUTLOOK
Slowdown in Earnings Projected

Foreign Trade Declining

Highly Volatile Markets16

In view of the difficult economic environment the duisport

In the ongoing crisis, exports slumped further in early

The impact of the recession on the product markets

Group does not expect that it will be able to maintain prior

2009. According to data of the Federal Statistical Office

important for the Port of Duisburg differs significantly by

tation mileage due to the economic slump in the fourth

growth rates in 2009. No reasonably reliable forecasts are

German exports remained 20.7 percent below the January

sector. The steel industry continued to suffer substantially

quarter of the year, the Federal Department of Transpor-

feasible for 2010 and 2011 because of the uncertainty of

2008 level during the first month of 2009. The automobile

from the weak global economy. German steel output in

tation predicts a further decrease of all-mode ton mileage

future economic developments. In 2009 adjusted earnings

industry and its suppliers, the chemical industry and the

January 2009 was 36 percent below the production level

by 4 percent in its current forecast for 2009.

after tax are anticipated to decline from 4.0 million Euros

mechanical engineering sector were among the exporters

in January 2008. The crude steel capacity utilization of

in 2008 to 2.3 million Euros. The duisport Group will how-

hit worst. Recent forecasts estimate that German exports

approx. 60 percent is at a multi-year low. It is foreseeable

more strongly than others, as combined road-rail systems

ever maintain its capital program and invest as much as

will decline by as much as 8 percent in 200915. As the

that crude steel production will remain below the 40 mil-

make them more dependent on imports and exports.

140 million Euros over the next few years.

current recession has also struck emerging markets such

lion tons mark in 2008.

However, the modal split of cargo volumes and ton kilo-

14

as China, experts believe that Germany will remain the
Bottom of the German Recession not yet Visible

world’s leading export nation in 2009.

Any estimate of the development of energy consump-

Decline in All-Mode Ton Mileage Expected
Following the downturn in 2008 all-mode transpor-

Trains and barges are affected by the downward trend

meters is likely to remain unchanged.

tion in 2009 is under current circumstances of limited
No Escape from the International Recession

A further downturn of the global economy is expected for

validity only. Uncertainties exist not only with respect to

2009, but predictions of the rates at which GDPs drop are

the price of energy and the effect of hardly predictable

increasingly difficult.

weather conditions but also with regard to the exact depth

and the current recession do not leave the logistic industry

The worldwide recession has a particularly strong

The dramatic slump in the wake of the financial crisis

and length of the national and the global economic crisis

unscathed. The experts of Fraunhofer-Gesellschaft estimate

impact on the export-oriented German economy. Private-

and the response of the worldwide economies to the

that the revenues of the German logistics industry will

sector consumption may slow down the drop in economic

stimulus packages passed by governments around the

decline by some 5 percent to 205 billion Euros in 2009.

activity but will not make up for the effects of the global

world.

economic climate. In spite of the German Administration’s

The chemical industry, on the other hand, predicts

economic stimulus packages the gross domestic product

moderate single-digit decreases in output in 2009.

Some segments of the logistic market such as contract
logistics and consumer product logistics are likely to
remain stable, though, and to partly make up for heavy

will decrease significantly in 2009. No recovery is currently

losses in other segments as for example automobile

on the horizon for 2010.

logistics.

14

Adjusted earnings (after tax) are earnings adjusted for the effect
of gains on the disposal of fixed assets for which the option offered
16

by Section 6b of the Income Tax Act was exercised in the accounts
of Duisburger Hafen AG

15

Forecast of the German wholesale and foreign trade association

Paper presented by Hans Jürgen Kerkhoff, President of the Steel
Association, 13th annual Handelsblatt conference

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Outlook

Great Contract Logistics Potential

Investments to Remain at a High Level

Improved Networking in the Ruhr Region

Contract logistics is a market segment in which logistic

The duisport Group has in recent years invested substantial

Following the negotiation of a cooperation agreement

service providers handle a broad range of logistic pro-

capital to modernize the Port of Duisburg to respond to

between the Port of Duisburg and the ports of Dortmund,

cesses outsourced by their customers. The contractors are

the requirements of modern logistic markets. Capital

Essen and Gelsenkirchen calling for the development of

deeply involved in customer processes, develop system

expenditures totaled some 400 million Euros over the last

an integrated transportation strategy, the Glückauf railroad

competency and become vital links of value chains.

ten years. They focused on combined road-rail transporta-

shuttle service went into operation in early 2009. The new

Fraunhofer-Gesellschaft estimates that the European

tion facilities and on terminals as well as the development

train connects the ports of Dortmund and Duisburg five

contract logistics market volume is 313 billion Euros and

of the logport Logistic Park. This investment strategy will

times a week with a stopover in Gelsenkirchen.

no more than 25 percent of this total market has currently

be continued by the duisport Group. Budgets call for capital

been awarded to contractors.

spending on infrastructure projects totaling as much as

crucial for networking the Ruhr region. Together with

140 million Euros.

the RAG Group attractive properties in the region will in

The logport ruhr joint venture set up in 2008 will be

Networking for Sustainable Logistic Systems

future be developed for logistic operations. The duisport

In view of rising energy prices and political and commu-

Group will contribute the logport brand and its expertise in

nity objectives to cut the emission of greenhouse gases, a

developing brownland. The new logistic parks will benefit

number of companies are increasingly examining in how

from their connections to the regional and international

far they can develop sustainable logistic systems. Experts

transportation links of the Port of Duisburg.

believe that logistic service providers will in future have to
offer clean and green supply chains to be competitive.
The selection and networking of the right transportation
modes will be essential to build such chains. Ports are natural
modal interfaces and are therefore highly competitive players
on logistic markets of the future.

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10 Years of logport

1998 – 2008
Within a space of no more than ten years, logport has developed
from industrial brownland into one of Europe’s leading logistics hubs.
An ideal location in the heart of Europe, cutting-edge infrastructure
and trimodal facilities providing direct access to the interstate, railroad
and waterway systems are among the logport assets that have
attracted investors.
A wide range of other services comprises consulting and project
management, permitting support, state-of-the-art safety and security
services, recruitment support, the definition of site operation and
use strategies, capital budgeting and financing assistance and project
conceptualization. The total care package has brought 40 new
investors that have created over 3,000 jobs in the logistics center.

September 5, 2008:
Some 500 guests came to the Ten Years of
logport celebrations. They included North-Rhine
Westphalia’s Prime Minister Dr. Jürgen Rüttgers
(shown together with Klaus-Michael Kühne
(left), duisport’s Chief Executive Erich Staake and
Dr. Norbert Bensel) who acclaimed the success
of the logport project in his speech: “logport is
a success story. The project has created futureoriented jobs, confidence and optimism about
the future.”

2008 Events

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2008 Events

September 13, 2008
Pontoon party: Imperial Schiffahrt celebrated
the revamp of two Herkules push tugs. Jaegers,
the Homberg-based shipping line, had already
christened two Duisburg-built double-hull
ships named Eiltank 6 and Eiltank 26 in July.
Dr. Gunther Jaegers (left) and Dr. Roland Pütz
felt in good company.

June 12, 2008
The North-Rhine Westphalia Day of Turkish/
German Business Contacts attracted some
400 participants. They had been invited to the
first regional economic summit of its kind in
Duisburg by the Turkish-German Chamber of
Commerce in Cologne and the North-Rhine
Westphalian Ministry of Economics (the photograph shows Minister Christa Thoben). duisport
was also among the hosts.
The Conference was intended to strengthen
bilateral economic relations and to promote
the mutual development of markets.

July 25, 2008
The 15th Ruhrort Port Festival was accompanied by a fireworks display and a Port
Gala. The guests invited by Port Chief
Executive Erich Staake and Haniel CEO
Dr. Eckhard Cordes including Wilhelm
Bonse-Geuking (RAG-Stiftung) and
Dr. Matthias Mitscherlich of MAN Ferrostaal
(left) enjoyed the party.
December 17, 2008
The logport family had a new baby. Duisburger
Hafen AG and RAG Montan Immobilien GmbH
signed a contract to set up the logport ruhr property development and marketing joint venture.
Backed by the State Administration and the
government’s intentions to strengthen logistics in
North-Rhine Westphalia the joint venture plans to
market appropriate properties in the Ruhr region
for logistics. The partners presented the new company at the MIPIM real estate trade fair in Cannes
in France from March 10 to 13, 2009.

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74

March 5 – 6, 2009
The 10th Logistics Forum Duisburg
organized by the German logistics
association and other partners demonstrated again focused solutions for issues
in operational logistics. 600 international
experts attended a wide range of paper
and workshop sessions.

May 13, 2009
During a tour of North-Rhine Westphalia Dutch
Prime Minister Jan Balkenende (2nd from left)
visited the Port of Duisburg together with NorthRhine Westphalia’s Prime Minister Dr. Jürgen
Rüttgers (left). He talked to Port Chief Executive
Erich Staake and Mayor Adolf Sauerland about
current transportation projects and an even closer
cooperation between the ports of Duisburg and
Rotterdam.
May 2009
Duisburg’s women soccer players rushed from
victory to victory. The FCR 2001 team sponsored by duisport logport won the Women’s
European Cup and the German Cup final in
Berlin at the end of a glorious season.

March 26, 2009
The German Embassy in The Hague held a
reception dedicated to “Perspectives of transborder logistics: ports and industry”. The photograph shows Ambassador Dr. Thomas Michael
Läufer (center) together with the President of
the Port of Rotterdam Authority Hans Smits (left)
and Duisburger Hafen AG’s Chief Executive Officer
Erich Staake.

April 21 – 24, 2009
The duisport Group had a booth at the 2009 TransRussia exhibition in Moscow. Company sales staff
made new contacts in this emerging market.

2009 Events

2009 Events

77

76

Annual Financial Statements of the duisport Group

ANNUAL FINANCIAL STATEMENTS

2009 EVENTS
May 19, 2009
duisport consult GmbH, a new company
of the duisport Group, has started its
operations officially. Under the management of Duisburger Hafen AG’s Executive
Board member for engineering Thomas
Schlipköther (l.) the company will
develop port and logistics concepts in
Germany and other countries.

of the duisport Group in Duisburg
for the period
1 January to 31 December 2008
83nd Financial Year

Consolidated Balance Sheet

78

Consolidated Statement of Income

81

Development of Group Equity

84

Balance Sheet of Duisburger Hafen AG

86

Statement of Income of Duisburger Hafen AG

88

Shareholdings

89

Statement of Changes in Fixed Assets
of Duisburger Hafen AG

90

Consolidated Notes and Notes on the
Financial Statements of Duisburger Hafen AG
May 12 – 15, 2009
Record numbers and a positive atmosphere
in spite of the economic crisis defied the
financial challenge at the 12th International
Exhibition for Logistics, Telematics and
Transport in Munich. An increase in the
number of exhibitors by 11 percent and
48,000 visitors were beyond all expectation.
The brightly lit new design duisport booth
was a magnet to visitors.

92

Consolidated Statement of Cash Flow

104

Auditor‘s Report

106

Stockholders

108

Annual Financial Statements

Consolidated Statement of Changes of Fixed Assets 82

Annual Financial Statements of the duisport Group

79

78

Annual Financial Statements of the duisport Group

Consolidated Balance Sheet as at December 31, 2008

CONSOLIDATED BALANCE SHEET
Assets

Dec. 31, 2008

Dec. 31, 2007

3

1,000 3

A. Fixed assets

2. Goodwill
3. Advance payments made

I. Subscribed capital
II. Paid-in surplus
556,964.67

459

1. Land and buildings

3. Other assets, fixtures, furniture and office equipment
4. Advance payments made and work in progress

14,399,045.67

15,257

0.00

164

14,956,010.34

15,880

181,606,328.94

161,606

29,062,648.65

23,929

1,902,650.13

1,504

627,797.88

11,414

213,199,425.60

198,453

1,454,759.17

1,455

2. Loans to companies in which investments are held

3,404,731.73

4,020

3. Securities, stocks and bonds

1,293,358.13

859

45,394.51

49

6,198,243.54

6,383

234,353,679.48

220,716

I. Inventories

1,534

8,657
33,017

46,252,931.17

41,674

127,924.13

207

5,128,671.50

3,074

IV. Surplus from consolidation
V. Group profit
VI. Minority interests

89,685.38

97

99,153,087.82

92,606

61,600.00

95

1. Provisions for pensions

4,944,146.00

4,941

2. Provisions for accrued taxes

4,199,065.95

1,806

3. Provisions for deferred taxes

7,451,530.68

6,828

C. Provisions

4. Other provisions

33,006,467.02

24,689

49,601,209.65

38,264

83,865,862.94

76,743

9,270,784.25

8,249

D. Liabilities
1,664

1. Bank debt

2. Work in progress

1,423,227.11

1,309

2. Accounts payable (trade)

3. Finished products

777,918.48

898

3,474,665.65

3,871

11,695,117.41

11,159

29,383.89

24

II. Accounts receivable and other assets

C. Deferred Charges and Prepaid Expenses

1,533,875.64

34,522,337.08

1,273,520.06

III. Cash and cash at bank

46,020

11,730,594.09

1. Raw materials and supplies

3. Other assets

46,020,000.00

2. Other retained earnings

B. Current assets

2. Accounts due form companies in which investments are held

1,000 3

1. Legal reserves

1. Allowance for investment incentives

1. Investments

1. Accounts receivable (trade)

3

B. Tax reserve

III. Financial assets

4. Other loans

Dec. 31, 2007

III. Retained earnings

II. Property, plant and equipment

2. Technical plant and equipment

Dec. 31, 2008

A. Equity

I. Intangible assets
1. Industrial property rights and similar rights and
assets as well as licenses for such rights and assets

Liabilities

3. Other liabilities

E. Deferred income

7,324,561.10

6,337

19,049,062.40

17,520

13,138,848.13

4,687

35,662,576.18

26,078

768,870.72

762

270,785,126.38

247,556

27,408,345.25

30,399

120,544,992.44

115,391

1,424,236.47

1,200

270,785,126.38

247,556

Annual Financial Statements of the duisport Group

81

80

Annual Financial Statements of the duisport Group
Consolidated Statement of Income
for the period ended December 31, 2008

CONSOLIDATED STATEMENT OF INCOME

1. Sales
2. Increase or decrease in inventories of finished products and work in progress

2008

2007

3

1,000 3

124,822,396.20

117,326

-6,283.63

1,643

3. Other capitalized expenses

4,694,922.67

2,928

4. Other operating income

8,222,326.94

11,440

137,733,362.18

133,337

5. Material

48,918,648.08

49,095

6. Labor

28,344,633.60

27,249

9,760,523.38

9,437

7. Amortization and depreciation of intangible assets and property, plant and equipment
8. Other operating expenses

9. Income from investments
10. Income from financial asset loans
11. Net interest
12. Writedown of financial assets

13. Result of ordinary operations
14. Taxes on income
15. Other taxes

31,834,682.73

25,825

118,858,487.79

111,606

10,500.00

5

331,533.57

319

-5,212,737.28

-5,408

1,350,000.00

0

-6,220,703.71

-5,084

12,654,170.68

16,647

5,428,651.96

6,029

645,487.59

585

6,074,139.55

6,614

6,580,031.13

10,033

9,302.95

40

18. Profit brought forward

3,073,432.17

1,906

19. Appropriation to legal reserve

3,073,432.17

1,906

16. Consolidated net income for the year
17. Minority interests

20. Appropriation to other retained earnings
21. Consolidated profit

1,442,056.68

6,919

5,128,671.50

3,074

Annual Financial Statements of the duisport Group

83

82

Annual Financial Statements of the duisport Group

Consolidated Statement of Changes in Fixed Assets
in the 2008 Fiscal Year

CONSOLIDATED STATEMENT OF CHANGES IN FIXED ASSETS
Cumulative amortization and depreciation

Cost

Book values

Jan. 1, 2008

Changes
in the
consolidated
group

Additions

Retirements

Reclassifications

Dec. 31, 2008

Jan. 1, 2008

Additions

Retirements

Dec. 31, 2008

Dec. 31, 2008

Dec. 31, 2007

3

3

3

3

3

3

3

3

3

3

3

1,000 3

2,555,738.24

0.00

248,048.17

57,699.15

74,979.00

2,821,066.26

2,096,484.58

215,898.92

48,281.91

2,264,101.59

556,964.67

459

17,150,000.00

0.00

250,000.00

0.00

0.00

17,400,000.00

1,893,333.33

1,107,621.00

0.00

3,000,954.33

14,399,045.67

15,257

164,170.36

0.00

0.00

89,191.36

-74,979.00

0.00

0.00

0.00

0.00

0.00

0.00

164

19,869,908.60

0.00

498,048.17

146,890.51

0.00

20,221,066.26

3,989,817.91

1,323,519.92

48,281.91

5,265,055.92

14,956,010.34

15,880

186,972,665.49

4,121,111.28

12,258,806.74

2,793,942.37

8,596,942.79

209,155,583.93

46,171,445.00

5,487,684.25

942,477.53

50,716,651.72

158,438,932.21

140,800

I. Intangible assets
1. Industrial property rights and similar rights
and assets and licenses
for such rights and assets
2. Goodwill
3. Advance payments made

II. Property, plant and equipment
1. Land and buildings
Tracts and operational, office
and residential buildings
Port basin tracts (fixed value)

18,620,028.66

0.00

1,856,328.18

644,460.08

508,344.76

20,340,241.52

1,507,472.11

655,333.14

0.00

2,162,805.25

18,177,436.27

17,113

Road pavements

11,582,867.76

0.00

1,212,169.38

0.00

427,610.02

13,222,647.16

8,083,231.89

338,998.57

0.00

8,422,230.46

4,800,416.70

3,500

2,086,587.44

0.00

0.00

301,423.53

0.00

1,785,163.91

1,893,569.34

16,743.48

314,692.67

1,595,620.15

189,543.76

193

219,262,149.35

4,121,111.28

15,327,304.30

3,739,825.98

9,532,897.57

244,503,636.52

57,655,718.34

6,498,759.44

1,257,170.20

62,897,307.58

181,606,328.94

161,606

Port plant and equipment

22,708,752.95

0.00

2,484,480.07

143,804.92

1,568,455.90

26,617,884.00

12,732,182.36

1,095,893.18

143,507.92

13,684,567.62

12,933,316.38

9,976

Railroad plant and equipment

17,441,655.60

0.00

2,435,404.98

29,217.90

246,867.55

20,094,710.23

3,489,145.29

476,232.67

0.00

3,965,377.96

16,129,332.27

13,953

40,150,408.55

0.00

4,919,885.05

173,022.82

1,815,323.45

46,712,594.23

16,221,327.65

1,572,125.85

143,507.92

17,649,945.58

29,062,648.65

23,929

5,811,697.27

66,659.79

795,427.11

386,014.30

0.00

6,287,769.87

4,307,732.62

366,118.17

288,731.05

4,385,119.74

1,902,650.13

1,504

Railroad bridges, public road bridges and
flood control structures

2. Technical plant and equipment

3. Other assets, fixtures, furniture
and office equipment
4. Advance payments made and work in progress

11,413,790.77

0.00

562,228.13

0.00

-11,348,221.02

627,797.88

0.00

0.00

0.00

0.00

627,797.88

11,414

276,638,045.94

4,187,771.07

21,604,844.59

4,298,863.10

0.00

298,131,798.50

78,184,778.61

8,437,003.46

1,689,409.17

84,932,372.90

213,199,425.60

198,453

III. Financial assets
1. Shares in affiliated companies

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0

2. Investments

1,934,759.17

0.00

0.00

0.00

0.00

1,934,759.17

480,000.00

0.00

0.00

480,000.00

1,454,759.17

1,455

3. Loans to companies in which
Investments are held

4,804,467.20

0.00

765,264.53

30,000.00

0.00

5,539,731.73

785,000.00

1,350,000.00

0.00

2,135,000.00

3,404,731.73

4,020

859,001.75

0.00

546,892.97

112,536.69

0.00

1,293,358.03

0.00

0.00

0.00

0.00

1,293,358.03

859

49,070.47

0.00

0.00

3,675.96

0.00

45,394.51

0.00

0.00

0.00

0.00

45,394.51

49

7,647,298.59

0.00

1,312,157.50

146,212.65

0.00

8,813,243.44

1,265,000.00

1,350,000.00

0.00

2,615,000.00

6,198,243.44

6,383

304,155,253.13

4,187,771.07

23,415,050.26

4,591,966.26

0.00

327,166,108.20

83,439,596.52

11,110,523.38

1,737,691.08

92,812,428.82

234,353,679.38

220,716

4. Securities, stocks and bonds
5. Other loans

Annual Financial Statements of the duisport Group

Annual Financial Statements of the duisport Group

85

84

Development of Group Equity for the Period ended December 31, 2008

DEVELOPMENT OF GROUP EQUITY
Minority interests

Parent company

Consolidated equity

Group companies

Dec. 31, 2006

Equity

Minority
capital

Other
non-income
transactions

Equity

3

3

3

3

3

3

20,204,382.05

82,476,645.87

199,752.98

36,054.43

235,807.41

82,712,453.28

38,817.11

38,817.11

-184,010.56

23,250.21

-160,760.35

-121,943.24

0.00

0.00

-160,760.35

-121,943.24

Subscribed capital
Common
Stock

Paid-in
surplus

Retained
earnings

Other
non-income
transactions

3

3

3

46,020,000.00

1,533,875.64

14,718,388.18

Changes in consolidated Group
Other changes

0.00
0.00

0.00

Consolidated net income/net loss

0.00

38,817.11

9,992,865.50

38,817.11

-184,010.56

9,992,865.50

40,181.24

40,181.24

10,033,046.74

-17,800.00

-17,800.00

-17,800.00

Dividends paid to minority shareholders
Total, Group

Dec. 31, 2007

0.00

0.00

9,992,865.50

0.00

9,992,865.50

22,381.24

0.00

22,381.24

10,015,246.74

46,020,000.00

1,533,875.64

24,711,253.68

20,243,199.16

92,508,328.48

38,123.66

59,304.64

97,428.30

92,605,756.78

67,834.05

67,834.05

0.00

67,834.05

-17,045.87

-17,045.87

-17,045.87

-17,045.87

-17,045.87

50,788.18

9,302.95

6,580,031.13

0.00

-83,488.27

Changes in consolidated Group
Other changes

0.00
0.00

0.00

Consolidated net income/net loss

0.00

Dec. 31, 2008

67,834.05

6,570,728.18

Other
Total, Group

23,250.21

67,834.05

0.00

6,570,728.18

9,302.95

-83,488.27

-83,488.27

0.00

0.00

6,570,728.18

-83,488.27

6,487,239.91

9,302.95

0.00

9,302.95

6.496.542,86

46,020,000.00

1,533,875.64

31,281,981.86

20,227,544.94

99,063,402.44

47,426.61

42,258.77

89,685.38

99,153,087.82

Annual Financial Statements of the duisport Group

87

86

Annual Financial Statements of the duisport Group

Balance Sheet of Duisburger Hafen AG as at December 31, 2008

BALANCE SHEET OF DUISBURGER HAFEN AG
Assets

Dec. 31, 2008

Dec. 31, 2007

3

3

A. Fixed assets

2. Advance payments made

Dec. 31, 2008

Dec. 31, 2007

3

3

46,020,000.00

46,020.000

1,533,875.64

1,533,875.64

11,730,594.09

8,657,161.92

5,128,671.50

3,073,432.17

64,413,141.23

59,284,469.73

34,106,521.57

31,414,908.53

1. Provisions for pensions

4,944,146.00

4,941,464.00

2. Provisions for accrued taxes

3,614,556.00

1,291,818.00

14,588,929.92

10,636,751.77

23,147,631.92

16,870,033.77

38,733,385.29

36,460,882.37

2. Accounts payable (trade)

1,496,280.19

2,194,494.29

3. Liabilities to affiliated companies

4,350,642.09

5,540,864.78

A. Equity

I. Intangible assets
1. Industrial property rights and similar rights and
assets as well as licenses for such rights and assets

Liabilities

I. Capital subscribed
II. Paid-in surplus
358,327.44

328,928.31

0.00

74,979.00

358,327.44

403,907.31

III. Retained earnings
Legal reserve
IV. Profit

II. Property, plant and equipment
1. Land and buildings

62,589,639.94

63,352,280.70

2. Technical plant and equipment

10,301,374.58

10,654,046.69

3. Other assets, fixtures, furniture and office equipment

782,817.05

769,558.82

4. Advance payments made and work-in-progress

188,294.48

80,659.38

73,862,126.05

74,856,545.59

III. Financial assets

Section 6 b of the German Income Tax Act
C. Provisions

3. Other provisions

1. Investments in affiliated companies

41,574,519.67

38,945,157.74

2. Loans to affiliated companies

51,147,717.10

45,811,684.56

3. Other investments

1,421,597.50

1,421,597.50

4. Loans to companies in which
investments are held

3,235,279.09

3,820,014.56

5. Securities, stocks and bonds

1,109,737.12

762,276.24

45,394.51

49,070.47

98,534,244.99

90,809,801.07

172,754,698.48

166,070,253.97

6. Other loans

B. Tax reserve pursuant to

D. Liabilities
1. Bank debt

4. Other liabilities
incl. tax liabilities of 1,054,215.87 EUR (2007: 0.190 million EUR)
incl. social security liabilities of 45,970.18 EUR (2007: 0.041 million EUR)

23,301,307.93

22,630,677.04

67,881,615.50

66,826,918.48

1,119,982.48

1,162,862.62

190,668,892.70

175,559,193.13

B. Current assets
I. Inventories

8,149.44

8,900.22

II. Accounts receivable and other assets
1. Accounts receivable (trade)
2. Accounts receivable from affiliated companies
3. Accounts receivable from companies in which
investments are held
4. Other assets

III. Cash and cash at bank

C. Deferred charges and prepaid expenses

317,691.61

615,230.65

3,273,025.05

1,874,767.48

29,383.89

23,709.29

1,151,662.26

2,122,469.23

4,771,762.81

4,636,176.65

12,863,279.30

4,611,951.54

17,643,191.55

9,257,028.41

271,002.66

231,910.75

190,668,892.69

175,559,193.13

E. Deferred income

Annual Financial Statements of the duisport Group

89

88

Statement of Income of Duisburger Hafen AG

Annual Financial Statements of the duisport Group
Shareholdings on December 31, 2008

for the period ended December 31, 2008

SHAREHOLDINGS

STATEMENT OF INCOME OF DUISBURGER HAFEN AG

1. Sales
2. Capitalized expenses
3. Other operating income

2008

2007

3

3

22,860,705.67

21,597,157.02

53,531.25

141,204.09

12,089,595.70

16,237,332.78

35,003,832.62

1. Consolidated Group

Consolidation

Share in

Equity

Status1

Capital %

1,0003

Hafen Duisburg-Rheinhausen GmbH, Duisburg2

F

100

20,452

duisport agency GmbH, Duisburg2

F

100

260

F

100

172

F

100

100

PCD Packing-Center Duisburg GmbH, Duisburg

F

100

366

Logport Logistic-Center Duisburg GmbH, Duisburg

F

55

126

Hafen Duisburg-Amsterdam Beteiligungsgesellschaft mbH, Duisburg

F

66

-20

F

100

13,338

Name and Registered Office

Duisburger Hafen Aktiengesellschaft, Duisburg

37,975,693.89

dfl duisport facility logistics GmbH, Duisburg
4. Material
5. Labor
6. Amortization and depreciation of
intangible and tangible fixed assets
7. Other operating expenses

520,858.47

403,870.15

9,129,919.67

8,332,368.19

3,083,978.30

3,728,698.55

14,721,568.82

19,987,833.49

27,456,325.26

32,452,770.38

duisport rail GmbH, Duisburg

VTS GmbH, Duisburg

2

2

VTS Chemnitz GmbH, Chemnitz
8. Investment income
9. Net interest
10. Writedown of financial assets

3,510,696.87

1,756,102.96

410,059.02

-491,089.87

1,350,000.00

0.00

2,570,755.89

1,265,013.09

2

2

F

90

4,533

VTS International N.V.

F

100

203

Grundstücksgesellschaft Südhafen mbH, Duisburg (form. Krefeld)

F

100

306

Consolidation

Share in

Equity

3

Status

Capital %

1,0003

DIT Duisburg Intermodal Terminal GmbH, Duisburg

E

24

-1,7144

Umschlag Terminal Marl GmbH & Co. KG, Duisburg

N

33

38

Umschlag Terminal Marl Verwaltungs GmbH, Duisburg

N

33

27

Duisburg Trimodal Company GmbH, Duisburg

N

20

27

Share in

Equity

Capital %

1,0003

7,5

-25,608

2. Associated Companies
Name and Registered Office

11. Result of ordinary operations

10,118,263.25

6,787,936.60

4,640,029.40

3,329,718.30

349,562.35

384,786.13

4,989,591.75

3,714,504.43

5,128,671.50

3,073.432.17

15. Profit brought forward

3,073,432.17

1,906,319.08

16. Appropriation to retained earnings/Legal reserve

3,073,432.17

1,906,319.08

5,128,671.50

3,073,432.17

12. Taxes on income
13. Other taxes

14. Net income for the year

17. Profit

3. Other Shareholdings
Name and Registered Office

Antwerp Gateway N.V., Antwerp/Belgium

1

Companies marked F are fully consolidated.

2

Control and pass-through agreement

3

Companies marked E were consolidated at equity. Companies marked N are shown at cost due to the immaterial nature of their business as
allowed by Section 311 (2) of the Commercial Code.

4

Data tentative

Annual Financial Statements of the duisport Group

91

90

Annual Financial Statements of the duisport Group

Statement of Changes in Fixed Assets of Duisburger Hafen AG
in the 2008 fiscal year

STATEMENT OF CHANGES OF ASSETS OF DUISBURGER HAFEN AG
Cumulative amortization and depreciation

Acquisition or production costs

Book values

Jan. 1, 2008

Additions

Retirements

Reclassifications

Dec. 31, 2008

Jan. 1, 2008

Additions

Retirements

Reclassifications

Dec. 31, 2008

Dec. 31, 2008

Dec. 31, 2007

3

3

3

3

3

3

3

3

3

3

3

1,000 3

1,830,527.56

62,360.31

0.00

74,979.00

1,967,866.87

1,501,599.25

107,940.18

0.00

0.00

1,609,539.43

358,327.44

329

74,979.00

0.00

0.00

-74,979.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

75

1,905,506.56

62,360.31

0.00

0.00

1,967,866.87

1,501,599.25

107,940.18

0.00

0.00

1,609,539.43

358,327.44

404

I. Intangible assets
1. Industrial property rights
and similar rights and assets
and licenses for such rights and assets
2. Advance payments made

II. Property, plant and equipment
1. Land and buildings
Tracts and operational, office
and residential buildings

82,005,390.05

621,037.51

1,002,582.73

2,988.01

81,626,832.84

32,939,710.90

1,479,418.11

959,351.75

0.00

33,459,777.26

48,167,055.58

49,065

Port basin tracts (fixed values)

13,389,223.34

757,352.28

644,460.08

0.00

13,502,115.54

874,699.11

378,676.14

0.00

0.00

1,253,375.25

12,248,740.29

12,514

Road pavements

9,060,696.86

603,624.46

0.00

12,101.62

9,676,422.94

7,355,128.89

201,148.57

0.00

0.00

7,556,277.46

2,120,145.48

1,706

Railroad bridges, public road bridges and
flood control structures

1,955,784.69

396.72

314,692.67

0.00

1,641,488.74

1,889,275.34

13,207.48

314,692.67

0.00

1,587,790.15

53,698.59

67

16,233,829.27

239,440.63

3,430.23

0.00

16,469,839.67

10,072,476.20

619,036.18

3,430.23

0.00

10,688,082.15

5,781,757.52

6,161

7,000,199.27

184,012.01

29,217.90

0.00

7,154,993.38

2,507,505.65

127,870.67

0.00

0.00

2,635,376.32

4,519,617.06

4,493

4,246,780.70

172,076.34

65,552.80

0.00

4,353,304.24

3,477,221.88

156,680.97

63,415.66

0.00

3,570,487.19

782,817.05

770

80,659.38

122,724.73

0.00

-15,089.63

188,294.48

0.00

0.00

0.00

0.00

0.00

188,294.48

81

133,972,563.56

2,700,664.68

2,059,936.41

0.00

134,613,291.83

59,116,017.97

2,976,038.12

1,340,890.31

0.00

60,751,165.78

73,862,126.05

74,857

1. Investments in affiliated companies

38,945,157.74

2,629,361.93

0.00

0.00

41,574,519.67

0.00

0.00

0.00

0.00

0.00

41,574,519.67

38,945

2. Loans to affiliated companies

2. Technical plant and equipment
Port plant and equipment
Railroad plant and equipment
3. Other assets, fixtures, furniture
and office equipment
4. Advance payments made and work in progress

III. Financial assets

45,811,684.56

6,889,241.98

1,553,209.44

0.00

51,147,717.10

0.00

0.00

0.00

0.00

0.00

51,147,717.10

45,812

3. Other investments

1,901,597.50

0.00

0.00

0.00

1,901,597.50

480,000.00

0.00

0.00

0.00

480,000.00

1,421,597.50

1,421

4. Loans to companies in which
investments are held

4,605,014.56

765,264.53

0.00

0.00

5,370,279.09

785,000.00

1,350,000.00

0.00

0.00

2,135,000.00

3,235,279.09

3,820

762,276.24

459,997.57

112,536.69

0.00

1,109,737.12

0.00

0.00

0.00

0.00

0.00

1,109,737.12

762

49,070.47

0.00

3,675.96

0.00

45,394.51

0.00

0.00

0.00

0.00

0.00

45,394.51

49

92,074,801.07

10,743,866.01

1,669,422.09

0.00

101,149,244.99

1,265,000.00

1,350,000.00

0.00

0.00

2,615,000.00

98,534,244.99

90,809

227,952,871.19

13,506,891.00

3,729,358.50

0.00

237,730,403.69

61,882,617.22

4,433,978.30

1,340,890.31

0.00

64,975,705.21

172,754,698.48

166,070

5. Securities, stocks and bonds
6. Other loans

Annual Financial Statements of the duisport Group

93

92

Annual Financial Statements of the duisport Group

Consolidated Notes and Notes on the Financial Statements
of Duisburger Hafen AG for the Year Ended December 31, 2007

CONSOLIDATED NOTES AND NOTES ON THE FINANCIAL STATEMENTS OF DUISBURGER HAFEN AG
Duisburger Hafen AG and its subsidiaries have prepared

Certain items in the income statement and the balance

consolidated financial statements and a consolidated

sheet have been combined in order to enhance general

management report for the year ended December 31,

clarity and meaningfulness. These items are detailed in the

2008 pursuant to Section 290 of the German Commercial

Notes.

Code. The consolidated financial statements are in
accordance with the accounting principles set out in the
Commercial Code.

The statement of income has been drawn up on the
basis of the cost summary method.
Apart from Duisburger Hafen AG, 11 (2007: 9) com-

A summary of the total equity holdings is published in
the electronic German Federal Gazette in accordance with

Intercompany investments shown at cost have been

Section 285, item 11, and Section 313, Clause 2, of the

eliminated against equity on the date of first consolidation.

Commercial Code.

Goodwill of 21 thousand Euros resulting from the losses

Through Hafen Duisburg-Amsterdam Beteiligungsge-

establishment until the time when they were first con-

indirect interest in Masslog GmbH. In addition, Duisburger

solidated was deducted from retained earnings. The good-

Hafen AG holds 7.5 percent of the shares of Antwerp Gate-

will from the first consolidation of Grundstücksgesellschaft

way N.V. and 20 percent of the shares issued by Duisburg

Südhafen mbH attributable to the difference between the

Trimodal Terminal GmbH.

book value and the market value of the land owned by the

panies in which Duisburger Hafen AG has a majority

has exercised its option under Section 298, Clause (3), of

holding are included in the consolidated financial state-

Duisburger Hafen AG acquired all of the shares of

the German Commercial Code to combine the Notes and

ments on a full consolidation basis as of December 31,

Grundstücksgesellschaft Südhafen mbH on June 1, 2008.

the Consolidated Notes.

2008.

The company has been fully consolidated since the date
of acquisition.
VTS International N.V. in Antwerp, a 100 % subsidiary

Company

company was transferred in full to the property, plant and
equipment account.
Any surplus from consolidation is shown as a separate
equity item. A surplus is attributable to the acquisition of
another 40 percent of the PCD shares from minority share-

of VTS GmbH, Duisburg, has been fully consolidated since

holders in 2007. The takeover of VTS International N.V. in

January 1, 2008.

2008 generated another surplus of 68 thousand Euros now

Equity

Equity capital

In accordance with Section 312 of the Commercial

interest %

1,000 3

Code, two German companies are not included in the

N.V. in 2008 generated a surplus of 68 thousand Euros now

consolidated financial statements on account of their minor

included in Group equity.

Hafen Duisburg-Rheinhausen GmbH, Duisburg

100

20,452

duisport agency GmbH, Duisburg

100

260

on their financial and business policy on the strength of

date of first consolidation produced a non income effect of

dfl duisport facility logistics GmbH, Duisburg

100

172

the voting rights of between 20 and 50 percent held by

-146 thousand Euros. The impact of the resulting change in

duisport rail GmbH, Duisburg

100

100

Duisburger Hafen AG.

the deferred tax rate is +46 thousand Euros.

VTS GmbH, Duisburg

100

13,338

VTS Chemnitz GmbH, Chemnitz

90

4,533

minority interest in profits which is in fiscal 2008 transferred

VTS International N.V., Antwerp

100

203

to Duisburger Hafen AG under a profit and loss pass-through

PCD Packing-Center Duisburg GmbH, Duisburg

100

366

agreement.

55

126

Sales, expenses and earnings as well as existing

100

306

accounts receivable and payable between consolidated

66

-20

companies were eliminated in the Group statement.

Fully consolidated companies

Logport Logistic-Center Duisburg GmbH, Duisburg
Grundstücksgesellschaft Südhafen mbH, Krefeld
Hafen Duisburg-Amsterdam Beteiligungsgesellschaft mbH,
Duisburg

DIT Duisburg Intermodal Terminal GmbH, Duisburg

Tentative earnings

significance, although material influence can be exercised

included in Group equity. The takeover of VTS International

The reversal of financial asset writedowns prior to the

Non income changes in equity also show a 2007

Intercompany results on intra-Group deliveries and services

Company consolidated at equity

1

incurred by the VTS companies after their acquisition/

sellschaft mbH, Duisburger Hafen AG owns a 19.8 percent

As the parent company of the Group, Duisburger Hafen AG

I. Consolidated Group

II. Consolidation Policy

of 973 thousand Euros (2007: 0 thousand Euros) were
24

-1,7141

eliminated in 2008.

Annual Financial Statements of the duisport Group

95

94

Annual Financial Statements of the duisport Group

Consolidated Notes and Notes on the Financial Statements
of Duisburger Hafen AG for the Year Ended December 31, 2008

III. Accounting and Valuation Principles

after December 31, 2007 are grouped each year and each

German Income Tax Act and the accelerated depreciation

The financial statements of Duisburger Hafen AG as the

asset group is depreciated over a period of five years by

allowance pursuant to Section 6b of the German Income

parent company and its subsidiaries included in the con-

the straight-line method.

Tax Act have been eliminated from the consolidated

solidated financial statements are prepared in accordance

accounts. Deferred taxes have been computed on amounts

with the same accounting and valuation principles. The

embankment and port railroad assets on the eastern shore

tributions retained from income for future partial retire-

recognized in the consolidated statement of income at the

financial statements of all fully consolidated companies

of the Rhine hardly change. These items are therefore

ment and future employer top-up obligations. The provision

Group tax rate of 32 percent.

registered in Germany have been audited and approved by

shown at fixed values in accordance with tax treatment

has been made for employees who have signed partial

the Group auditors without restrictions.

and are not depreciated.

retirement contracts and an estimated number of employ-

The untaxed reserve pursuant to Section 6 of the

Third party shares in the equity and the net income of
the consolidated subsidiaries Logport, HDA and VTS Chem-

Intangible assets as well as property, plant and equip-

The size, the value and the structure of port basin,

Interest-bearing loans are stated at principal less any

nitz are shown as minority interests. Minority interests

ment are shown at cost less subsidies, writedowns,

value adjustments. Loans to affiliated companies include

are not exempted from valuations or adjustments upon

amortization and depreciation. The goodwill from the

loans with a term of more than five years.

consolidation.

acquisition of a business under asset deal arrangements is

The profit is shown in the consolidated financial
statements in the same amount as in the balance sheet
of the parent company. The results of the subsidiaries and
other differences upon consolidation have been absorbed
by consolidated retained earnings which increased for this
reason by 1,442 thousand Euros in 2008.

Other financial assets are included in the accounts at

amortized by the straight line method over a period of 15

the lower of cost or market if any loss in value is per-

years.

manent.

The other intangible assets are amortized over five
years.
Ordinary depreciation is charged by the straight-line
method at the maximum rates allowed by tax legislation

Fixed asset securities, stocks and bonds secure retirement entitlements against insolvency. The securities have
been pledged to employees benefiting from these rights.
Raw materials and supplies were placed at the lower

with the exception of buildings completed between 1990

of average cost or market. Work in progress relates to

and 1994 which are depreciated by applying the declining

packing and project management work in process.

balance method according to Section 7, Clause (5), of the

Accounts receivable and other assets as well as liquid

German Income Tax Act, applicable during this period.

assets are stated in the balance sheet at their nominal

Appropriations were made to the tax reserve account

values. Writedowns were made to provide for identifiable

with respect to land in accordance with Section 6b of the

risks. Reasonable allowances have been made for bad

Income Tax Act, while other accelerated depreciation items

debts.

were deducted directly from book values. Following the

Deferred charges and prepaid expenses show the cost

publication of the Transparency and Corporate Governance

of goods or services already paid for but not yet fully used

Act which repealed Section 308, Clause (3), of the

or consumed on December 31. The item also includes loan

Commercial Code, the untaxed reserve and the accelerated

discounts which are amortized over the terms of the loans.

depreciation allowance have been eliminated from the
consolidated accounts.
Assets of a net value of less than 150 Euros (through
2007: 410 Euros) are expensed in the year of acquisition.
Minor assets between 150 Euros and 1,000 Euros acquired

Upon the resolution of the stockholders of Duisburger
Hafen AG at the general meeting held on June 26, 2008,
the 2007 profit of 3,073,432.17 Euros was appropriated to
the legal reserve.
Pension provisions have been calculated by applying
an unchanged interest rate of 4.25 percent. In keeping
with International Financial Reporting Standards, salary and

pension trends were assumed for pension estimates.
Provisions for partial retirement were determined
by an actuarial method applying an interest rate of
5.5 percent. The provision covers both employee con-

ees who will sign partial retirement contracts before their
retirement.
The other provisions accommodate all identifiable risks
and were estimated applying sound commercial judgment.
Debts are stated at the amounts to be repaid.
Deferred income is revenue received before December
31, but not yet earned.
Derivate financial instruments are acquired exclusively
to reduce risks. They are used in compliance with corporate
rules defined for these derivatives.

Annual Financial Statements of the duisport Group

97

96

Annual Financial Statements of the duisport Group

Consolidated Notes and Notes on the Financial Statements
of Duisburger Hafen AG for the Year Ended December 31, 2008

IV. Balance Sheet Notes
1. Fixed Assets

3. Deferred charges – Group

Changes in the fixed assets of the Group and the parent

Consolidated deferred charges include, among others,

company are shown on pages 82/83 and 90/91 in the

discounts of 419 thousand Euros on loans raised in 2000

statement of changes in fixed assets.

and 2007 by Hafen Duisburg-Rheinhausen GmbH.

2.a Accounts Receivable and Other Assets – Group

4. Tax Reserve – Group and Duisburger Hafen AG
Dec. 31,

Remaining

Dec. 31,

Remaining

2008

term over

2007

term over

1,000 3

1 year
Accounts receivable (trade)

Group
1,000 3

Dec. 31, 2007
11,897

0

0

19,518

19,518

Allowance for investment incentives

62

95

0

0

Gesamt

62

95

34,107

31,415

Investments

29

0

24

0

Income Tax Act

Other assets

7,325

0

6,337

0

Accelerated depreciation allowance pursuant to Section 6b,

19,049

0

17,520

0

Clause (1), of the Income Tax Act

2.b Accounts Receivable and Other Assets – Duisburger Hafen AG

The allowance for investment incentives is contained in

6. Provisions for Deferred Taxes – Group

the balance sheet of Hafen Duisburg-Rheinhausen GmbH,

Deferred taxes mainly relate to the elimination of the

Dec. 31,

Remaining

Dec. 31,

Remaining

while the remaining extraordinary reserve items relate to

accelerated depreciation of fixed asset items and appro-

2008

term over

2007

term over

Duisburger Hafen AG. In accordance with the Transparency

priations to the tax reserve. 670 thousand Euros were

and Corporate Governance Act, the consolidated financial

charged against income in fiscal 2008. The deferred tax

statements do not show any tax reserves.

provisions were calculated at the tax rate of 32 percent,

1 year

1 year

318

0

615

0

3,273

0

1,875

0

29

0

24

0

Other assets

1,152

0

2,122

0

Total

4,772

0

4,636

0

while a rate of 35 percent was used in 2007. The effect of
5. Provisions for Accrued Taxes –
Group and Duisburger Hafen AG

Net income and trade tax payments totaled

lien, encumbrance, charge or other restriction. Writedowns
of 56 thousand Euros (2007: 170 thousand Euros) have
been made on doubtful receivables. The other receivables
are short-term and non-interest bearing. All receivables
and other assets have a term of less than 1 year.

the change in tax rate was an increase in profit of
376 thousand Euros.

Tax provisions mainly relate to corporation tax
and trade tax for the 2006, 2007 and 2008 fiscal years.

The title to the receivables shown is not subject to any

Hafen AG

14,589

Untaxed reserve pursuant to Section § 6b, Clause (3), of the

Investments

Hafen AG
Dec. 31, 2008

0

Affiliated companies

Dec. 31, 2008 Dec. 31, 2007
0

11,159

Accounts receivable (trade)

Duisburger

0

0

1,000 3

Duisburger

1 year

11,695

Total

Group

-1,599 thousand Euros in 2008.

7. Other Provisions – Group and Duisburger Hafen AG
Other provisions mainly relate to uncertain liabilities to third
parties and deferred maintenance. Provisions for labor costs
chiefly concern partial retirement, accrued bonuses and
accrued annuities, vacation, anniversary bonuses and similar
obligations. The partial retirement provision has been made
exclusively for employees of the parent company working
for Duisburger Hafen AG or currently for subsidiaries. The
other provisions relate to a large number of identifiable
specific risks.

Annual Financial Statements of the duisport Group

99

98

Annual Financial Statements of the duisport Group

Consolidated Notes and Notes on the Financial Statements
of Duisburger Hafen AG for the Year Ended December 31, 2008

8.a Debt – Group

Contingent Liabilities and Other Financial Commitments
Dec. 31,

Remaining

Remaining

Dec. 31,

Remaining

Remaining

2008

term less

term over

2007

term less

term over

than 1 year

5 years

than 1 year

5 years

83,866

19,405

31,564

76,743

20,374

33,065

9,271

7,313

855

8,249

7,638

197

376

0

0

376

0

0

Other liabilities

27,032

3,272

21,889

30,023

6,160

22,348

(of which tax)

(1,777)

(1,777)

0

(437)

(437)

0

(53)

(53)

0

(67)

(67)

0

120,545

29,953

54,308

115,391

35,640

55,610

1,000 3
Bank debt
Accounts payable (trade)
Accounts payable to shareholders

(of which social security and Medicare)
Total

Consolidated bank debt totaled 83.9 million Euros

through agreement with Duisburger Hafen AG. Obligations

on December 31, 2008. 30.0 million Euros were secured

were also undertaken with respect to maximum financial

by liens on land owned by Hafen Duisburg-Rheinhausen

ratios in the consolidated financial statements.
The total amount of interest paid by the Group during

GmbH. Further security provided includes pari passu

2008 was 8.5 million Euros.

clauses and negative pledges by Duisburger Hafen AG as

Duisburger Hafen AG has assumed absolute guaranties

65 thousand Euros in favor of a service provider to cover

of 63.1 million Euros to various permitting agencies in favor of

commitments of its subsidiary duisport rail GmbH under

Hafen Duisburg-Rheinhausen GmbH. The guaranties relate to

purchase agreements.

security for the repayment of grants and subsidies received.

In addition, Duisburger Hafen AG has assumed obligations

Duisburger Hafen AG has also issued a limited-duration

to provide Hafen Duisburg-Rheinhausen GmbH with sufficient

guaranty in the amount of 2.1 million Euros in favor of Antwerp

cash to always perform its repayment obligations.

Gateway N.V.

Commitments under contracts placed for capital and other
projects amounted to 2.4 million Euros including commitments
of 0.7 million Euros agreed by Duisburger Hafen AG.
The following encumbrances existed on December 31, 2008:

Encumbrances - Group

sq.m.

Land affected %

of which Duisburger

915,446

10.05

849,767

1,046,620

11.49

164,704

793,089

8.70

604,256

2,755,155

30.24

1,618,727

Hafen AG sq.m.
Leasehold rights of port operators
Easements and servitudes (e.g. for pipelines and wells)
Rights of way and other rights
Total

well as the assignment of loss pass-through rights of Hafen

Duisburger Hafen AG has granted a guaranty of

Duisburg-Rheinhausen GmbH under its control and passThe following interest rate swap agreements existed on December 31, 2008:
8.b Liabilities – Duisburger Hafen AG

Type of interest swap agreement
Dec 31,

Remaining

Remaining

Dec. 31,

Remaining

Remaining

2008

term less

term over

2007

term less

term over

than 1 year

5 years

than 1 year

5 years

38,733

11,160

8,407

36,461

12,846

12,326

Accounts payable (trade)

1,496

1,496

0

2,194

1,584

197

Liabilities to affiliated companies

4,351

4,350

0

5,541

5,541

0

Other liabilities

23,301

1,413

21,889

22,631

704

21,889

(of which tax)

(1,054)

(1,054)

0

(190)

(190)

0

(46)

(46)

0

(41)

(41)

0

67,881

18,419

30,296

66,827

20,675

34,412

1,000 3
Bank debt

(of which social security and Medicare)
Total

Other liabilities mainly comprise three loans of

were agreed to provide security. Social security and Medi-

21,889 thousand Euros granted by non-banks including

care liabilities mainly consist of amounts due to Medicare

deferred interest of 154 thousand Euros. Pari passu clauses

and other insurers.

and negative pledges as well as minimum financial ratios

1,000 3
Forwards

An interest rate and currency swap agreement of Duis-

Group

Group

Duisburger

Duisburger

Notional Market Value

Hafen AG

Hafen AG

Notional

Market

principal

Value

61,784

87

principal
65,781

-230

largely hedge designated floating-rate credit risks. A pro-

burger Hafen AG for a nominal principal amount of 13,889

vision for contingent losses was necessary for an amount of

thousand Euros included in the above tabulation converts

135 thousand Euros for a transaction where hedging criteria

a variable interest Yen loan into a fixed interest Euro loan.

are not satisfied.

The market value of this swap was 2,174 thousand Euros on
December 31, 2008.
Further, an interest rate swap with a principal of 10,000
thousand Euros was agreed by Duisburger Hafen AG to

The fair market values of interest rate derivatives or
interest rate and currency derivatives are determined by
actuarial methods such as discounting future cash flows.
Other financial commitments of the Group totaled a

hedge exposure to interest risks from funding called for by

nominal 6,560 thousand Euros. In Duisburger Hafen AG

corporate budgets for 2009 and later years.

they amounted to 4,244 thousand Euros. Of these, 1,563

In the annual financial statements as at December 31,
2008, the interest rate and interest rate/currency swaps

thousand Euros were agreed with companies outside the
Group, and 2,681 thousand Euros with Group companies.

Annual Financial Statements of the duisport Group

101

100

Annual Financial Statements of the duisport Group

Consolidated Notes and Notes on the Financial Statements
of Duisburger Hafen AG for the Year Ended December 31, 2008

V. Income Statement Notes

12. Material

9. Sales
Group

Group

Duisburger

Duisburger

2008

2007

Hafen AG

Hafen AG

2008

2007

Tracts

20,796

19,667

16,826

16,120

Structures

12,480

11,492

5,997

5,442

Handling charges

11,071

11,594

0

0

Packing services

58,303

55,037

0

0

Logistic services

20,563

19,070

0

0

Other revenues

1,609

465

38

35

124,822

117,325

22,861

21,597

1,000 3

Total

Capitalized expenses by the duisport Group amounting

and Logport Logistic-Center Duisburg GmbH to Hafen

to 4.7 million Euros relate to project management and

Duisburg-Rheinhausen GmbH.

2007

212

87

309

317

Total

48,918

49,095

521

404

Group

Group

Duisburger

Duisburger

2008

2007

Hafen AG

Hafen AG

2008

2007

13. Labor

23,063

21,959

7,166

6,211

pensions and fringe benefits

5,282

5,290

1,964

2,121

(thereof pensions)

(935)

(681)

(714)

(606)

28,345

27,249

9,130

8,332

Social security, Medicare,

Group

Duisburger

Duisburger

2008

2007

Hafen AG

Hafen AG

2008

2007

employer top-up obligations under partial retirement

The increase in labor expenses is essentially due to

0

8,317

5,715

obligations and the employment of additional staff in

2,692

8,697

2008.

233

192

0

0

97

164

29

72

2,091

1,001

314

500

Hafen AG with the Rheinische Zusatzversorgungskasse

34

34

1

688

Köln supplementary pension fund.

Other items

3,075

1,352

737

565

Total

8,222

11,440

12,090

16,237

of expenses incurred in the 2007 fiscal year.

2008
35,389

8,697

workmen’s compensation insurer, fee refunds and refunds

Hafen AG

13,706

0

Non-current income includes contribution refunds by the

Hafen AG

35,211

2,692

Release of tax reserves

2007

13,707

Group
1,000 3

Release of provisions

2008

Bought-in services

11. Other Operating Income

Non-current income

Duisburger

Raw materials and supplies

Total

Subsidies

Duisburger

1,000 3

Salaries and wages

engineering services provided by Duisburger Hafen AG

Gains on disposal of fixed assets

Group

1,000 3

10. Other Capitalized Expenses

Intercompany services

Group

Certain staff who do not hold pension entitlements
against their employer have been insured by Duisburger

Annual Financial Statements of the duisport Group

102

103

Annual Financial Statements o

Consolidated Notes and Notes on the Financial Statements
of Duisburger Hafen AG for the Year Ended December 31, 2008

17. Income from Financial Asset Loans

14. Amortization and Depreciation of Intangible and Tangible Fixed Assets
Group

Group

Duisburger

Duisburger

Group

Group

2008

2007

Hafen AG

Hafen AG

2008

2007

2008

2007

1,324

1,275

108

50

331

319

0

750

0

0

(0)

(0)

8,437

7,412

2,976

3,080

331

319

0

0

0

599

Group

Group

2008

2007

+555

+97

(0)

(0)

-5,767

-5,505

1,000 3
Intangible assets – ordinary
Intangible assets – extraordinary
Property, plant and equipment – ordinary
Property, plant and equipment – ordinary - pursuant to Section 6b

Income from loans
(thereof from affiliated companies)
Total

18. Interest Income and Expense

of the Income Tax Act
Total

1,000 3

9,761

9,437

3,084

3,729

1,000 3
Other interest and similar income
(thereof from affiliated companies)
Interest and similar expenses

15. Other Operating Expenses

(thereof from affiliated companies)
Total

Group

Group

Duisburger

Duisburger

2008

2007

Hafen AG

Hafen AG

2008

2007

19. Writedown of Financial Assets

1,000 3

(0)

(0)

-5,212

-5,408

12,457

8,887

4,765

4,946

The financial assets were written down by 1,350 thousand

tion in the book value of a stoc

0

0

2,692

8,698

Euros in 2008. The amount consists essentially of a reduc-

Antwerp Gateway N.V. by 1,30

Legal, consulting, insurance and similar

4,051

3,903

1,951

1,923

Corporate communication and marketing

1,398

1,602

794

1,082

Third party maintenance expenses
Appropriation to tax reserve

Non-current expenses

27

130

22

66

Miscellaneous expenses

13,902

11,303

4,497

3,273

Total

31,835

25,825

14,721

19,988

VI. Other Disclosures – Average Number of Employees by Companies
Blue collar

11

122

6

145

105

0

VTS Chemnitz GmbH

42

10

0

duisport rail GmbH

24

7

0

duisport agency GmbH

0

21

0

Logport Logistic-Center Duisburg GmbH

0

5

0

19

20

0

0

0

0

VTS GmbH

Group
2008

Group
2007

1,000 3

Duisburger

Duisburger

Hafen AG

Hafen AG

2008

2007

Income from investments

11

5

+170

+689

(thereof from affiliated companies)

(0)

(0)

(+170)

(+689)

0

0

+5,627

+2,128

Income passed through

Trainees

collar
Duisburger Hafen AG

16. Income/Losses from Investments

White

dfl duisport facility logistics GmbH
PCD Packing-Center-Duisburg GmbH
VTS International N.V.
Total

0

1

0

241

291

6

Annual Financial Statements of the duisport Group

105

104

Consolidated Notes and Notes on the Financial Statements
of Duisburger Hafen AG for the Year Ended December 31, 2008

CONSOLIDATED STATEMENT OF CASH FLOW
2008

2007

6,580

10,033

The Executive Board proposes to transfer the net income

11,111

9,437

for the year in the amount of 5,128,671.50 Euros to the

1,613

2,385

legal reserve.

19,304

21,855

-4,168

-8,981

-357

161

–/+ Increase/decrease in receivables and other assets

231

-11.233

+/– Increase/decrease in tax reserves from operating activities

-34

-34

9,573

5,762

members and their dependents ran at 165 thousand Euros.

905

7,014

Provisions for pensions to former Executive Board

25,454

14,544

1,000 3
1. Operating activities
+/– Consolidated net income/net loss
+

Amortization and depreciation of assets

+/– Increase/decrease in long-term provisions
Cash flow I
–

Gains on disposal of fixed assets

–

Subsidies and incentives received, not capitalized

+/– Increase/decrease in short-term provisions
+/– Increase/decrease in payables and other liabilities
Cash flow from operating activities

Appropriation of Profit

Cash inflow from the retirement of intangible assets

+

Cash inflow from the retirement of property, plant and equipment

+

Cash inflow from the retirement of financial assets

–

Investments in property, plant and equipment

+

Changes from first consolidation less cash acquired

–

Investments in intangible assets

–

and the Supervisory Board
The Executive Board remuneration totaled 1,026 thousand
Euros in 2008. Payments to former Executive Board

members and their dependents amounted to 2,112
thousand Euros. Payments to members of the Supervisory

2. Investment activities
+

Emoluments of the Executive Board

99

0

6,777

9,851

146

34

-44,012

-59,377

-2,483

12

-498

-1,120

Investments in financial assets

-1,312

-631

Cash flow from investment activities

-41,283

-51,231

-33

-139

22,407

37,948

Board for the 2008 fiscal year were 18 thousand Euros.
The members of the Supervisory Board and the
Executive Board are listed on pages 5 and 7.
Loans to Members of the Executive Board
and the Supervisory Board
No loans to Executive Board or Supervisory Board
members existed on December 31, 2008.

3. Financing activities
+/– Other equity changes
+

Investment incentives received – capitalized

+

Investment incentives received – not capitalized

Duisburg, March 31, 2009
Duisburger Hafen Aktiengesellschaft

357

-161

–/+ Decrease/increase in receivables from subsidies granted

-1,075

-2,427

The Executive Board

+/– Increase/decrease in liabilities from early disbursement of subsidies

-2,783

-5,422

Staake

+

Loans and credits received

20,053

20,904

–

Loans and credits repaid

-14,640

-16,875

24,286

33,828

8,457

-2,859

1

674

4,646

6,831

13,139

4,687

-35

-41

13,104

4,646

Cash flow from financing activities

4. Liquid funds at end of period
Changes in liquid funds (balance 1 - 3)
Changes in liquid funds due to changes in consolidated group
Liquid funds on January 1
Liquid funds at the end of the period
Current account liabilities at the end of the period
Liquid funds on December 31

Schlipköther

Bangen

Annual Financial Statements of the duisport Group

Auditor‘s Report for the duisport Group

107

106

AUDITOR’S REPORT
We have audited the annual financial statements,

ciples of proper accounting and in the management report

In our opinion based on the findings of our audit,

comprising the balance sheet, the income statement and

on the position of the company and the group are detected

the annual financial statements and the consolidated

the notes to the financial statements, which are combined

with reasonable assurance. Knowledge of the business

financial statements comply with the legal requirements

with the notes to the consolidated financial statements,

activities and the economic and legal environment of the

and supplementary provisions of the articles of incorp-

together with the bookkeeping system, of the Duisburger

company and the group and expectations as to possible

oration and bylaws and give a true and fair view of the

Hafen AG, Duisburg and the consolidated financial state-

misstatements are taken into account in the determination

net assets, financial position and results of operations of

ments, comprising the balance sheet, the income state-

of audit procedures. The effectiveness of the accounting

the company and the group in accordance with (German)

ment, the notes to the consolidated financial statements,

related internal control system and the evidence support-

principles of proper accounting. The management report

which are combined with the notes to the financial

ing the disclosures in the books and records, the annual

on the position of the company and the group is consist-

statements, cash flow statement, statement of changes in

and consolidated financial statements and the manage-

ent with the annual financial statements and the consoli-

equity as well as the management report on the position

ment report on the position of the company and the

dated financial statements and as a whole provides a

of the company and the group for the business year from

group are examined primarily on a test basis within the

suitable view of the company’s and the group’s position

January 1, to December 31, 2008. The preparation of these

framework of the audit. The audit includes assessing the

and suitably presents the opportunities and risks of future

documents in accordance with German commercial law

annual financial statements of the companies included in

development.

and supplementary provisions of the articles of incorp-

consolidation, the determination of the companies to be

oration and bylaws are the responsibility of the company’s

included in consolidation, the accounting and consoli-

management. Our responsibility is to express an opinion

dation principles used as well as the evaluation of signifi-

Düsseldorf, May 7, 2009

on the annual financial statements, together with the

cant estimates made by the management, and evaluating

Ernst & Young AG Wirtschaftsprüfungsgesellschaft

bookkeeping system, as well as on the consolidated

the overall presentation of the annual and consolidated

Steuerberatungsgesellschaft

financial statements and the management report on the

financial statements and the management report on the

position of the company and the group based on our audit.

position of the company and the group. We believe that

We conducted our audit of the annual and consolidated
financial statements in accordance with § (Article) 317
HGB (“Handelsgesetzbuch”: “German Commercial Code”)
and German generally accepted standards for the audit
of financial statements promulgated by the Institut der
Wirtschaftsprüfer (Institute of Public Auditors in Germany)
(IDW). Those standards require that we plan and perform
the audit such that misstatements materially affecting
the presentation of the net assets, financial position and
results of the operations in the annual and consolidated
financial statements in accordance with (German) prin-

our audit provides a reasonable basis for our opinion.
Our audit has not let to any reservations.

Hollweg

Aps

German Public Auditor

German Public Auditor

Stockholders of Duisburger Hafen AG

STOCKHOLDERS
The capital stock of Duisburger Hafen AG totals
46,020,000 Euro. It is divided into 46,020 registered
non-transferable shares.
The stock is held as follows:
the Federal Republic of Germany with

15,340,000 Z

the State of North-Rhine Westphalia
through Beteiligungsverwaltungsgesellschaft
des Landes Nordrhein-Westfalen mbH with

15,340,000 Z

the City of Duisburg with

15,340,000 Z

108

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Duisburger Hafen AG
Port Number 3650
Alte Ruhrorter Strasse 42–52
47119 Duisburg
Germany
Phone +49(0)203-803-1
Fax
+49(0)203-803-232
www.duisport.com
mail@duisport.com
Concept und Realization
dws Werbeagentur GmbH, Duisburg
Photography
Ralf Berndt, Cologne; Hans Blossey, Hamm;
Rolf Koeppen, Duisburg; Frank Reinhold, Duesseldorf
        
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