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Full text: Annual report of the Duisport Group Issue 2014

Partnerships in
Annual Report 2014 of the duisport Group

duisport Group, key figures 2012–2014 (in EUR million)
2012

2013

2014

Change in %1
14/13

Sales revenue (incl. sales that cannot
be consolidated)

159.8

175.4

197.6

+13

Sales revenues

149.8

159.9

183.0

+14

Balance sheet sum

310.1

340.9

343.7

+1

Gross investments

25.9

49.7

17.0

-66

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

28.9

30.1

35.2

+17

8.1

8.2

10.1

+23

18.4

22.0

24.2

+10

746

823

+10

2

2

Earnings after taxes
Cash flow I3

656

Permanent employees

Goods handled at all Duisburg ports (incl. private company ports, in million metric tons)

2012

38.2

2014

Change in %1
14/13

51.1

+8

29.0

30.4

+5

2013
47.2

Ship

26.2

Rail

45.6

47.1

49.6

+5

110.0

123.3

131.1

+6

Truck4
Total

Goods handled at duisport Group ports (in million metric tons)
2012

2013

2014

Change in %1
14/13

Ship

16.0

15.0

15.6

+4

Rail

16.0

16.3

17.1

+5

Truck

31.3

30.7

32.0

+4

Total

63.3

62.0

64.7

+4

1

Percentage figures have been rounded; rounding tolerance 0.1.

2

Sales revenues +/– changes in stocks + own work capitalized.

3

Annual profit + depreciation for fixed assets + change in long-term provisions.

4

Truck-handling volume at company ports has been estimated.

Packaging logistics, including transport
solutions for the capital goods industry

DIT Duisburg Intermodal Terminal GmbH
Trimodal container terminal at
the logport site

D3T Duisburg Trimodal Terminal GmbH
Trimodal container terminal at
the logport site

with the logistics locations:
duisport packing logistics GmbH
Duisburg/Essen/Westfalen/Hamburg

LOGPORT Logistic-Center Duisburg GmbH

dfl duisport facility logistics GmbH

Full-service provider in
establishment management

Port logistics, warehouse services,
facility management

dpl Weinzierl Verpackungen GmbH
Sinzing/Munich/Offenbach

Masslog GmbH
Handling terminal for bulk cargo
(esp. imported coal)

Umschlag Terminal Marl GmbH & Co. KG
Terminal for combined rail transport
in the northern Ruhr region

Sitz der/Headquarter of
Duisburger Hafen AG

Antwerp Gateway N. V.
Sea port container terminal, Antwerp

Heavylift Terminal Duisburg GmbH
Heavy cargo terminal in the
Duisburg outer harbor

Tarlog GmbH
Industrial area and services

Omnipack GmbH
Langerringen/Metzingen

Eisenbahn/Railway

duisport packing logistics
Group of companies

Haupterschließungsstraßen/
Important connecting road

duisport agency GmbH
Central sales company for solutions regarding
transport routes, transportation chains,
and logistics

Hafengebiet duisport/
duisport Port area

Geplante Straße/
Planned feeder road

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

Participations

Haupteisenbahnlinien/
Important connecting railway

Packaging Logistics

Autobahn/Motorway

Logistics Services

Infrastructure and Suprastructure

Wasserfläche/Water area

The duisport Group and
its business segments

Holz Weinzierl Fertigungen GmbH & Co. KG
Sinzing/Schönheide/Velburg

logport ruhr GmbH

duisport consult GmbH

Logistics properties and modular
services in the Ruhr region

Port and logistics concepts

dpl Chemnitz GmbH
Chemnitz

DistriRail B. V.
Independent rail operator
in combined transport

EILS – Emballages Industriels Logistique & Services
Packaging logistics with locations in
Mulhouse and Strasbourg

IPS Integrated Project Services GmbH
Global project logistics for
mechanical and plant engineering

dpl International NV
Antwerpen
duisport Industrial Packing Service (Shanghai) Co. Ltd.
Shanghai/Wuxi

duisport rail GmbH

International port and
logistics development in
partnership with HOCHTIEF

Public rail transport company and
flexible partner for rail connections

duisport packing logistics India Pvt. Ltd.
Pune (Mumbai)

Zeichenerklärung/Legend

DuisPortAlliance GmbH

duisport – individual services for
logistics and industry
Duisburger Hafen AG is the owner and managing company of the Port of
Duisburg. As the world’s largest inland port, we offer our industrial and
logistics business partners tailored solutions through our Infrastructure and
Suprastructure, Logistics Services, and Packaging Logistics business divisions.
These range from rail transport services through establishment and building
management to comprehensive consulting services.
As the leading logistics hub in central Europe, duisport provides the optimal
combination of advantageous geographic location and favorable conditions
with extensive logistics expertise. With this as our foundation, we are able
to push forward with the optimization of transport chains – both regionally
and nationally as well as at the international level.
Thanks to the interconnection of water, rail, and road transport, we help our
customers and partners to structure the flow of goods in a manner that is
as efficient, inexpensive, and environmentally friendly as possible. The 300
companies located at the Port of Duisburg profit from this interconnected
logistics concept and generate added value of approximately three billion
euros annually.
It is not least thanks to these business partners that chose the Duisburg
location or decided to collaborate with duisport that our Group was able to
continue growing in 2014. For the first time, we exceeded 1,000 employees
and generated a total operating performance of some 200 million euros.

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Table of contents

Annual Report 2014

Table of contents
Note by the Chief Executive Officer 	

4

Report of the Supervisory Board 	

6

Executive Board/Corporate Development Council/Supervisory Board 	

8

Future prospects through collaboration 	
	
Stable development thanks to wide-ranging partnerships	
	
Combined transport on the road to success	
	
Needs-based capacity expansion	
	
On the path to growth with existing customers and new partners	
	
Active in the region and for the region	
	
New combinations and proven partnerships	
	
New heavyweight in the service portfolio	
	
Securing the future through innovation	
	
Qualified employees for long-term corporate success	
	
Commitmend beyond our company’s borders	
	
Group Report 	
	
I. 	 Fundamentals of the group	
	
II.	 Financial report				
			
1. 	 Framework conditions 	
			
2.	 Presentation of net assets, financial position, and results	
	
III.	Supplementary report				
	
IV.	Forecast, risk, and opportunity report				
			
1.	 Risk and opportunity report	
			
2.	 General statement on opportunities and risks	
			
3.	 Forecast	
	
V.	 Sustainability				
	
VI.	Declaration pursuant to Section 312, Paragraph 3, AktG				

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26
28
31
34
35
38
40
41
45
47
48
50
50
50
51
62
63
63
64
64
65
66
68
70
82

Annual financial statements 	
	
Duisburger Hafen Group	
	
Duisburger Hafen Aktiengesellschaft 	
	
Consolidated notes and notes on the financial statements of
	
Duisburger Hafen Aktiengesellschaft 	
	
Audit opinion 	
	
Shareholders 	

90
116
118

Imprint 	

120

Port map 	

121

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Note by the Chief Executive Officer

Annual Report 2014

Last year was an eventful year for the logistics sector – one that was not
always easy. The crisis in Ukraine and Russia adversely affected exports.
Domestically, we faced infrastructure problems, such as roads and bridges
in need of repair. A number of strikes had a negative impact on the process
chains of our customers in rail transport services.
Unfortunately, we continue to see these problems this year as well.
The duisport Group’s business has, of course, also been affected by these
conditions. However, our Group has managed to achieve significant milestones
in terms of sales and earnings. The number of employees also grew by double
digits.
It would not be possible to realize continuous increases in sales and earnings
without the highly motivated staff that we are able to count on here at the
duisport Group.
We were especially pleased that we managed to steadily increase the value
and quality of the Duisburg logistics and port location. More than three billion
euros in annual added value, 3.4 million TEUs in container handling, and two
million square meters in operated warehouse space are just some of the
figures that underscore the significance of the most important hub in central
Europe.
The basis for this success is the close partnership we have maintained for
many years with our customers and the mutual trust this requires. The title
of this year’s annual report – Partnership in HD – is intended to express and
recognize this partnership and mutual trust. We are very grateful for this
partnership. It makes the long-term success of our customers and the duisport
Group possible.

Here some current examples: In the southern part of Cologne, we are developing a new port project with long-time partner Evonik Industries. Working with
Siemens, we have initiated an innovative transport concept as a pilot project.
Digital technologies are being utilized to enable intelligent traffic control.
Thanks to the conclusion of a long-term collaboration with the HMS Bergbau
AG Coal Division, the value chain for the supply of coal to our power stations
is being extended. Our long-term partners in the logistics sector – including
Kühne & Nagel, NYK/Yusen Logistics, and Rhenus, among others – are continuously expanding their commitment at the Port of Duisburg.
Developing tailored solutions with and for our customers is both an aspiration
and the main objective of the duisport Group. The success we have had to date
strengthens us in pursuing this path consistently.
I would like to thank our business partners, shareholders, and the Supervisory
Board very much for their good collaboration in 2014. Once again this year, I
would particularly like to thank all of our employees who contributed to the
success of the entire Group with their continued dedication.

Erich Staake
Chief Executive Officer
Duisburg, 23 June 2015

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Report of the Supervisory Board

Annual Report 2014

The Supervisory Board was kept informed about the position and growth of
the company and affiliated companies, along with all significant business
transactions, via the quarterly reports and reports submitted by the Executive Board to the Supervisory Board meetings held during the 2014 fiscal year.
Through in-depth discussions on topics submitted to the Board, we were able
to verify that management acted correctly over the last year.
A total of four Supervisory Board meetings were held during the 2014 fiscal
year (one member was unable to attend these meetings as a result of an
illness), during which the Supervisory Board addressed all of the issues of significance to the Group and adopted a number of resolutions. Deliberation and
decision making regarding important investment projects in the field of port
suprastructure were of particular importance during the 2014 fiscal year.

The Supervisory Board also conducted a final review and did not find any discrepancies.
At today’s meeting, the Supervisory Board approved the annual financial statements of Duisburger Hafen AG, the consolidated financial statements, and the
annual report as prepared by the Executive Board. Therefore, the annual financial statements have been approved pursuant to Section 172 of the Companies
Act.
The Supervisory Board agrees to the Executive Board’s suggestion to distribute
to shareholders the sum of 3,600,000.00 euros from Duisburger Hafen AG’s
net profit of 9,350,149.02 euros and to place the remainder in the statutory
reserve.

The Executive Board report on the relationship to affiliated companies
(dependency report) for the period from 1 January to 31 December 2014 was
audited in accordance with the statutory provisions by the auditing company
PricewaterhouseCoopers AG. The audit did not result in any objections, as a
result of which an unqualified audit opinion was issued.
The annual financial statements for the 2014 fiscal year, including accounting
and the management report, were audited in accordance with the statutory
provisions by the auditing company PricewaterhouseCoopers AG, which was
selected to perform the audit by the Annual Shareholders’ Meeting. The audit
results show that the annual financial statements of Duisburger Hafen AG, its
accounts, the consolidated financial statements, and the annual report correspond with the law and the articles of association.

Michael von der Mühlen
Chairman of the Supervisory Board
Duisburg, 23 June 2015

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Executive Board/Corporate Development Council/Supervisory Board

Annual Report 2014

EXECUTIVE BOARD

CORPORATE DEVELOPMENT COUNCIL

PRESIDIUM OF THE SUPERVISORY BOARD

SUPERVISORY BOARD

Dipl.-Kfm. Erich Staake
Chief Executive Officer, Düsseldorf

Dr.-Ing. (honorary) Wolfgang Clement
Former Federal Minister, Bonn

Prof. Dipl.-Ing. Thomas Schlipköther
Essen

Heinz Lison
Spokesman for Regional Industry,
Ruhr-Niederrhein Employer Association
(Unternehmerverbandsgruppe e. V. ),
Mülheim an der Ruhr

Michael von der Mühlen (from 2 July 2014)
Secretary of State, Ministry for Construction,
Housing, Urban Development, and Transportation
of the State of North Rhine-Westphalia, Düsseldorf
Chairman of the Supervisory Board

Torsten Burmester
Department Head, Ministry for Economics, Energy,
Industry, Small Business, and Trade of the State of
North Rhine-Westphalia, Düsseldorf

Attorney Markus Bangen
Düsseldorf

Dr.-Ing. Herbert Lütkestratkötter
Former Chairman of the Executive Board
at Hochtief AG, Essen
Reinhard Quint
Former Member of the Executive Board,
ThyssenKrupp Services AG, Düsseldorf
Prof. Dr.-Ing. Stephan Reimelt
President & CEO GE Europe and
CEO GE Germany, Frankfurt/Main
Dr. Matthias Ruete
Director General of the Directorate General
for Migration and Home Affairs, European
Commission, Brussels
Prof. Dr. Michael ten Hompel
Managing Director, Fraunhofer Institute
for Material Flow and Logistics, Dortmund
Matthias von Randow
Chief Executive Officer of the Federal Association
of German aviation industry (BDL), Berlin
Dr. Ludolf von Wartenberg
Former Undersecretary of State, Berlin

Jörg Hansen
Head of Section, Ministry of Finance of
the State of North Rhine-Westphalia, Düsseldorf
Vice-Chairman of the Supervisory Board
Ursula Lindenhofer
Accountant, Duisburger Hafen AG, Duisburg
Vice-Chairwoman of the Supervisory Board
Sören Link
Mayor, City of Duisburg,
Vice-Chairman of the Supervisory Board
Chairman of the Supervisory Board (until 2 July 2014)
Gunther Adler (until 2 July 2014)
Secretary of State, Ministry for Construction,
Housing, Urban Development, and Transportation
of the State of North Rhine-Westphalia, Düsseldorf
Vice-Chairman of the Supervisory Board

Ekhart Maatz (from 2 July 2014)
Head of Division, Ministry for Construction, Housing,
Urban Development, and Transportation of the State
of North Rhine-Westphalia, Düsseldorf
Kirsten Stecken
Head of Division, Ministry for Construction, Housing,
Urban Development, and Transportation of the State
of North Rhine-Westphalia, Düsseldorf
Dr. Ulf Steenken
Managing Director, holding company of the State of
North Rhine-Westphalia, Düsseldorf
Udo Vohl
Councilman, City of Duisburg
Benno Lensdorf (until 2 July 2014)
Mayor, City of Duisburg
Heidi Batkowski
Clerk,
duisport packing logistics GmbH, Duisburg
Ulrich Brottmann
Electrician,
Duisburger Hafen AG, Duisburg
Bernhard Waltenberg
Technical employee,
duisport packing logistics GmbH, Duisburg

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Annual Report 2014

The Company

11

Creating
something
new with
strong partners
The link between industry and logistics forms the
basis for the successful development of the North
Rhine-Westphalia region. This is why duisport
rigorously cultivates business relationships with
shippers. This includes, for example, the agreement
that duisport concluded with Evonik Industries AG
in June 2014. The aim of this agreement is to bundle
container traffic to and from Evonik locations via
Duisburg as well as the long-term development of the
location and strengthening of the North Rhine-Westphalia economic region. Following on from this,
duisport and Evonik are currently preparing to establish a joint venture. This will help develop the Evonik
location in Lülsdorf and underscore the position of
duisport as a major provider of logistics space in the
Rhine-Ruhr region.

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Annual Report 2014

The Company

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Annual Report 2014

The Company

17

Expanded capacity in
response to increased demand
The signs point to further growth at the Port of Duisburg: thanks to new container bridges, an expansion of the rail infrastructure, and an increase in handling and storage space, duisport is bolstering its
handling capacity this year to five million TEUs. This expansion is based on ongoing demand, which
is reflected in the 13% growth of container handling in 2014. There was also good performance in bulk
goods handling. Following an important new establishment, the coal island is once again fully utilized.

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Annual Report 2014

An eye on the future
The duisport Group assumes responsibility for both its employees and for the future of the company.
This is why we offer talented young people the opportunity to develop good prospects as specialists
and managers in the logistics industry through a study program that pairs academics with practical
work experience. In addition, we promote the careers of college graduates through our individual
trainee programs. We do this partly in order to retain qualified staff at our company. duisport also
promotes talent beyond its own corporate borders. As a founding member of TalentMetropole Ruhr,
we are committed to activities such as promoting the education of children and young people in the
entire Ruhr region.

The Company

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Annual Report 2014

Transcontinental
relationships on the
path to success
Less expensive than airfreight and much faster than transport by sea: the transcontinental rail
routes between Duisburg and China are winning over more and more customers. These two
routes – the trans-Siberian route via Russia to northeastern China and the “new Silk Road” via
Kazakhstan to central China – cover a broad swathe of the eastern and Asian economic area. The
transcontinental rail connection has become even more valuable ever since automobile manufacturers began using it to export automobile parts and premium vehicles to China in 2014.

The Company

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Annual Report 2014

Intelligent trafficmanagement technology for
the transport of tomorrow
One of the key issues for duisport is the innovative structuring of logistics processes. This is why we are committed to
forward-looking projects, such as the development of intelligent traffic-management systems. In a project developed
jointly with Siemens, we are working to optimize inbound
traffic management – particularly the flow of truck traffic – in
and around the port area. Using digital traffic data, truck drivers will soon be informed of the current traffic situation via a
smartphone app. At the same time, shippers, logistics service
providers, and hub operators will automatically receive the
status of these trucks and thus be able to manage the flow of
truck traffic optimally using LED traffic signs installed in the
port area.

The Company

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Annual Report 2014

Focus on
international
opportunities
Strategic realignment and an increasingly international focus have made
our consulting services an important pillar of the Group in recent years.
Whether it is in Brazil, the United Arab Emirates, or Turkey, duisport’s
expertise is now in demand on a number of important infrastructure
projects around the world. These consulting projects usually result in
interesting opportunities in new and promising economic areas.

The Company

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The Company

Annual Report 2014

Future prospects through collaboration
As a partner to industrial and logistics companies, the duisport Group offers a wide
range of logistics services as well as tailored solutions for its customers. Its services
range from establishment management through packaging and transport solutions to
strategic consulting. By providing this broad range of services, the duisport Group aims
to establish a stable and sustainable position – preferably in cooperation with all of the
companies that have established themselves at the Port of Duisburg or that use our
services.

Stable development thanks to wide-ranging partnerships
The year 2014 was not an easy one for the logistics sector. One strain on exports was the
crisis between Ukraine and Russia. Also, a number of rail strikes as well as infrastructure
problems, such as dilapidated bridges, proved to be a strong hindrance to the smooth
flow of logistical processes. However, the duisport Group once again recorded positive
growth in the past financial year in all three business divisions – Infrastructure and
Suprastructure, Logistics Services, and Packaging Logistics.

Container handling grew by 13% in 2014
TEUs in millions

3.4
3.0
With total income of 198 million euros and earnings before taxes of 14 million euros,
our Group reached new highs. Total handling rose to 65 million metric tons, with the
13% growth to 3.4 million TEUs in combined transport handling making a particularly
significant contribution.

2.5
1.8

The bulk goods handling sector also performed well. This is because of the accelerated
pace of activity on the coal island thanks to the targeted investments we made along
with our partner HMS Bergbau AG Coal Division. The duisport Group has entered into
a number of similar partnerships over the past several years. The numerous successful
projects underscore the fact that collaborative partnerships result in added value. That
is why the title of this year’s annual report is Partnerships in HD.

2009

2011

2013

2014

Total handling by the duisport Group
rose to 65 million metric tons in 2014,
with container handling increasing
by 13% to 3.4 million TEUs.

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The Company

Annual Report 2014

The Minden terminal of the transport
company Bobe is connected by the
East-Westphalia Xpress 2 container
train shuttle service to the Rhine-­
Ruhr terminal in Duisburg.

Combined transport on the road to success
The duisport Group continued its intensive strategy of working with a number of partners and private rail operators to expand combined transport not only at the regional
and national levels but also internationally in the last financial year.
At the regional level, for example, the East-Westphalia Xpress 2 container train was
established as a regular service between neska intermodal Group’s Rhine-Ruhr terminal
in the Port of Duisburg and the Minden terminal owned by transport company Bobe.
The stopover at the RuhrOst logistics center in Bönen also creates a central interface
between the western and northern ports. This strengthens the connection between
the Duisburg region and Hamburg and Bremerhaven. In addition, the Minden region,
which is primarily oriented around northern regions, is now connected to Antwerp, Rotterdam, and Amsterdam.
In the area of German rail transport, duisport agency GmbH collaborated with Dutch
rail operator DistriRail B.V. to extend the existing intermodal offering between Duisburg and Frankfurt am Main and the connection with Ludwigshafen. This connection
links the chemical parks in Ludwigshafen, Frankfurt am Main, and Marl via the Duisburg
interface by rail several times per week.

The intermodal offering from the DIT
in Rheinhausen to Frankfurt am Main
has been extended to Ludwigshafen.

Various capacity expansions were undertaken and new connections established in
cross-border transport during the reporting period. The container volume in Rotterdam
will increase as a result of the new terminal at Maasvlakte II. This will require optimized
supply and disposal structures by ship and rail to inland destinations. The duisport
Group has invested in the most important operator along this route, DistriRail, to support these structures. The number of shuttle transports between Rotterdam and Duisburg has been increased significantly to several departures per day.
A new multimodal route between the Duisburg terminal logport III and Bettembourg
in Luxembourg is part of a collaboration between Samskip Multimodal B.V., ECL GmbH,
and CFL that provides rail transport across Europe from North Cape to Gibraltar. From
Bettembourg, there are connections to Lyon and Le Boulou on the Spanish border. This
link and the multimodal connection from Scandinavia via Duisburg to Trieste and then
on to Turkey via ship (known as GreenBridge Multimodal) will increasingly replace

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The Company

Annual Report 2014

Manufacturers of premium vehicles
now use the rail connection via the
“New Silk Road” for exports to China
as well.

first primarily used for exports from China
to Europe, automobile manufacturers are
increasingly relying on this connection to
export automobile parts and assembled
vehicles to Asia, as are companies in the
machinery and plant-engineering business.
In order to continue to be able to offer optimized multimodal transport concepts for
exporters in the future as well, the necessary infrastructure measures, such as bridge
repairs and the expansion of holding tracks,
connecting tracks, and marshaling yards,
must be addressed quickly. This is because
good infrastructure connections are an
important criterion for companies when they
select a location. The new Leistungs- und
Finanzierungsvereinbarung (German performance and financing agreement – LuFV II)
that the federal government and Deutsche
Bahn signed at the beginning of January 2015
should create the proper basis for this.

Through several trips to China, the
management of the duisport Group
emphasized the economic relations
between both countries. Erich Staake
and Markus Teuber, chief representative of Duisburger Hafen AG (3rd
from left), with Chinese business
partners.

trans-European truck trips with speedy combined connections by rail and ship. The
combined transport between Duisburg and Turkey, which is operated jointly by Samskip Multimodal B.V. and Turkish company ICL Intercombi, has been very successful.
The number of GreenBridge connections, which started at the beginning of 2014, has
already increased significantly.
Rail transport between Duisburg and China
is starting to establish itself as a complementary transport offering. Significantly
less expensive than airfreight and more
than twice as fast as transport by sea, intercontinental trains also offer an attractive
transport alternative for very long routes.
With two routes – the trans-Siberian route
via Russia to northeastern China and the
“new Silk Road” via Kazakhstan to central
China – the two rail lines cover an important part of the eastern and Asian economic area. While these trains were at

Needs-based capacity expansion
The Port of Duisburg has for many years been the fastest-growing container location in
Europe. So it is only logical that we have continuously expanded our container handling
capacity, which now stands at five million TEUs.
The new trimodal portal crane with a span of some 140 meters was put into operation
at the D3T terminal at logport I in spring 2014. It is the second crane of this size at D3T
and is one of the largest portal cranes in an inland port. At the end of 2014, a third rail
crane was added to neighboring container terminal DIT, which is also trimodal.
The first new rail crane at logport III commenced full operation in August 2014. A second
crane with the same design will follow in summer 2015. Both cranes have technological
innovations for keeping noise levels as low as possible. With the expansion to ten container bridges on logport I and III, a total of 21 container bridges will be in use throughout the Port of Duisburg.
The container handling space has also been increased by 13 hectares.

With the new container bridges and
expanded space, the duisport Group
increased its container handling
capacity to five million TEUs per year.

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The Company

Annual Report 2014

With a height of 25 meters and 10,000 cassette spaces, the new
Benteler Distribution Germany complex at the Port of Duisburg is
Europe’s largest high-bay warehouse for pipes.

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The Company

Annual Report 2014

On the path to growth with existing customers and new partners
The duisport Group supports its customers by developing land as well as making investments and creating tailored logistics services.
For example, the opening of the world’s largest CKD (completely knocked down) center
by AUDI AG in 2013 was soon followed by the second large establishment in the automobile sector at the Port of Duisburg: the new Volkswagen export hub was officially
opened at the Kasslerfeld logistics site in March 2014. With 24,000 m2 of space, it supplies parts to the automobile group’s non-European plants. The property developer
Goodman, in-house logistical services provider syncreon, and transport logistics provider duisport agency work in close collaboration here.

In collaboration with the HMS
Bergbau AG Coal Division, duisport is
building a new coal-handling facility
in basin B of the coal island. As a
result, the coal island will be fully
utilized again in future.

During the reporting period, construction was completed on another major project
right next door, which will be officially opened in fall 2015: the Benteler Distribution
Germany (BDD) high-bay warehouse for pipes, which is also the largest in Europe. The
new complex, which has about 15,000 m2 of space, is right next to the existing BDD
warehouse and provides additional space for 15,000 metric
tons of steel pipes. BDD thus has
a central warehouse with a total
of 35,000 m2 of space at the Port
of Duisburg, enabling it to store
27,000 metric tons of pipes. For
Benteler Distribution’s customers, the new central warehouse
means higher product availability, shorter delivery times, and
bundled deliveries.
In 2014, NYK/Yusen Logistics completed another stage in its development at logport I. The new
building, which is 26,000 m2, represents the fourth expansion by
NYK/Yusen Logistics at the Port of
Duisburg. The company thus now
has a total of more than 70,000
m2 of warehouse space at the
location and employs some 400
employees.

Working with a new business partner is also yielding growth momentum on the coal
island, which the duisport Group took over from DB Schenker in 2013. A long-term partnership was concluded with HMS Bergbau AG Coal Division. Working together, the two
partners will set up and operate a new coal-handling facility in basin B. The innovative
batching plant will make it possible to supply exact mixes with a homogeneous composition on a just-in-time basis and at a consistent level of quality over the long term. The
new facility will enable delivery of up to 500,000 metric tons of coal per year to German
power stations and other industrial consumers in the future. All of the coal island’s
approximately 200,000 m2 of space is thus once again fully utilized.
Gearbox and drive technology specialist Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd. (or NGC for short) chose the Port of Duisburg for its European
headquarters, making it the first Chinese company to do so. NGC’s parent company,
China Transmission, which has some 10,000 employees, is among the 100 most important and competitive companies in the Chinese machinery industry.
For the duisport Group, this establishment is an important step toward enhancing the
current connections with the Chinese market. In addition to the optimal connection to
all modes of transport, the range of services provided by the duisport Group was also a
decisive factor for NGC in the location decision. The establishment of NGC also benefited from the direct train connection from Duisburg to China, which was given a lot of
weight at the group headquarters in Nanjing.
Thanks to its proximity, the ability to stockpile replacement parts and its combined
expertise, NGC will be able to offer its European customers direct access to its products
and services from the Duisburg location in the future. The official inauguration of the
new location at the inner harbor and the commercial space at the Port of Duisburg,
which is approximately 1,000 m2, is planned for summer 2015.

Active in the region and for the region
A leading European multimodal transport hub such as the Port of Duisburg inevitably
sees a large volume of traffic. In order to continue to manage this traffic as optimally
and smoothly as possible for all participants in the future as well, we have entered into
a strategic partnership with Siemens AG. The goal is to develop a new traffic-management system using digital technology. The system was designed on the basis of Siemens’s Integrated Truck Guidance (ITG), an intelligent truck-supply management system that makes it possible to use existing infrastructure more efficiently.

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Annual Report 2014

The Kühne + Nagel facility at logport I in Rheinhausen – the
intelligent truck traffic management system developed with
Siemens will have a positive impact here as well.

37

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Annual Report 2014

Working together with duisport customers and partners, ITG will first be introduced at
the logport I logistics center and in the immediately surrounding area. The individual
truck data will be recorded and linked to regional real-time traffic data, which will enable truck drivers to manage the flow of traffic optimally using an app on their smartphones and real-time LED traffic signs. The system will be expanded to other parts of
the port and other transport modes such as rail and inland shipping in the future. The
goal is to coordinate multimodal means of transport in order to optimize the flow of
traffic and increase the efficiency of sea and inland ports as well as other cargo transport centers around the world over the long term.
Our joint venture with RAG Montan Immobilien GmbH, logport ruhr,
achieved important milestones in
2014: on 9 July 2014, the logport ruhr
supervisory board passed the key resolutions necessary for implementing
the logport IV project in Kamp-Lintfort, where the 30-hectare former
coal-storage facility will be developed into an intercommunal logistics
center with a direct connection to the
Port of Duisburg.

Signing the agreement to build
logport IV in Kamp-Lintfort. Back
row, from left to right: Professor
Hans-Peter Noll (CEO of RAG
Montan Immobilien GmbH), Erich
Staake, Dr. Jürgen Rupp (member
of the Management Board of RAG
Aktiengesellschaft), Markus Bangen
(member of the Executive Board
of Duisburger Hafen AG). Front
row, from left to right: Martin
Notthoff (treasurer for the city of
Kamp-Lintfort), Professor Christoph
Landscheidt (mayor of the city of
Kamp-Lintfort), Detlev Stickann
(Managing Director of logport ruhr
GmbH), Markus Teuber (Managing
Director of logport ruhr GmbH).

This will mainly meet the strong
demand from international companies with a high level of space and
logistics needs. It will also result in
the logport concept, which has until now primarily been focused on Duisburg, becoming a central element of structural change in the region.

A key element of the economy in North Rhine-Westphalia is the close and successful collaboration between industrial companies and the logistics sector. The duisport
Group has increased its connections with shippers over the last several years. In June
2014, Duisburger Hafen AG and Evonik Industries AG signed an agreement on the joint
development of modern logistics concepts as well as the long-term development of the
location and strengthening of the North Rhine-Westphalia economic region. The agreement also aims to concentrate container traffic to and from Evonik locations through
the Port of Duisburg.

New combinations and proven partnerships
duisport packing logistics GmbH (dpl) accelerated its activities during the reporting
period, particularly in southern Germany. In addition, the duisport Group became the
majority shareholder of the Weinzierl Group and merged dpl Süd GmbH with Weinzierl
Verpackungen GmbH to form dpl Weinzierl Verpackungen GmbH. This led to the creation of uniform structures and greatly improved proximity to customers with locations
in Sinzing, Velburg, and Langerringen (Bavaria); Metzingen (Baden-Württemberg); and
Schönheide (Saxony).

Following on from this strategic collaboration, duisport and Evonik are currently preparing to establish a joint venture, which is set to begin in 2015. The joint venture will bolster
the development of the Evonik location in Lülsdorf, which is situated between Cologne
and Bonn. The goal is to further develop the open space there and optimize on-site
logistics. Some 50 hectares are to be marketed for the establishment of production and
logistics companies. In order to supplement the existing site logistics, which include
port facilities, rail operations, incoming and outgoing handling, and hazardous materials
storage, the construction of a trimodal container terminal is also being planned.

Groundbreaking ceremony for the
production facilities for dpl Weinzierl
Verpackungen GmbH and Holz
Weinzierl Fertigungen GmbH & Co.
KG in Sinzing and Velburg. From left
to right: Bernhard Kraus (first mayor
of Velburg), Patrick Grossmann
(first mayor of Sinzing), Hans-Peter
Weinzierl (Managing Director of
dpl Weinzierl Verpackungen GmbH
and Holz Weinzierl Fertigungen
GmbH & Co. KG), Peter Trapp
(Managing Director of dpl Weinzierl
Verpackungen GmbH and Holz
Weinzierl Fertigungen GmbH &
Co. KG), Jakob Weinzierl (Senior
Principal).

39

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New heavyweight in the service portfolio
IPS Integrated Project Services GmbH (IPS) successfully expanded its business activities
during the reporting period, demonstrating its expertise in international project logistics with two major projects.
In one case, IPS took over the global transport logistics for setting up railcar dumpers in
Mauritania – a mechanism that makes it possible to unload cars loaded with up to 200
metric tons of iron ore by either completely turning them over or tilting them on their
axis. IPS’s task was to secure and coordinate the transport of all necessary construction
components from Malaysia, China, Korea, and more than five different European ports
to the construction site in Mauritania. This was a challenge not only because of the
global dimensions of the project, but also because of the difficulties that had to be
overcome with respect to the condition of the transport infrastructure in Mauritania.

XXL international project logistics:
shipping a 515-ton converter to
Trinidad and Tobago.

Another major project involved the transport of a 515-metric-ton converter – the centerpiece of an ammonia plant that will produce up to 2,000 metric tons per day – to

Point Lisas in Trinidad and Tobago. Here, IPS was responsible for both precarriage via
special-purpose vehicle and inland shipping and direct transshipment to a chartered
heavy-goods ship in Rotterdam. This project, which is the heaviest individual transport
that IPS has ever carried out, is – like the project in Mauritania – a showcase project for
the individual solutions that our project logistics are capable of.

Securing the future through innovation
Despite all of the positive developments, we are constantly aware that companies can
only prepare their business for the future through continuous innovation. Corporate
responsibility does not end at the factory
gate. It has to have a clear and demonstrable impact on society as well. This is also
why we are committed to various scientific
and research projects, ranging from new
technical processes through digital traffic control to innovative power supplies.
And this work is not carried out alone but
always with partners from the world of
business and science who are recognized
for their expertise in their respective fields.
Under the leadership of the University of
Duisburg-Essen and together with other
partners, duisport has been involved in
the LoFIP (logistics future Internet platform) project since August 2011. The final
results were presented in September 2014.
The aim of LoFIP was to support logistics
processes through the development of the
“future Internet” – the keywords being the
Internet of things and the Internet of services. The focus here is on software-based control centers that make it possible, for
example, to optimize multimodal inland container transport and thus reduce both
costs and CO2 emissions.
We have been involved in the VertiModal project since October 2013. The project looks
for ways to stack semitrailers. The aim is to increase storage and handling capacity at
combined transport terminals without the need to expand floor space and modify handling equipment. The solution that was developed is a frame design that wraps around
the trailer and “containerizes” it – similar to the support frames of the ISO containers

With LoFIP (logistics future internet
platform), multimodal container
transport will be optimized using
digital technologies.

41

3

42

Annual Report 2014

The Company

31

43

43
1

Wesel
Marl

31

3
57

1

43
40

E35
42

42

42

logport IV
E34

Herne

Duisburg

40

40
40

logport I
logport III

logport II

57

52

45

445

Bochum

Stockholm

45

44

Düsseldorf

London

Wuppertal

52

45

46

Amsterdam

Rotterdam
Zeebrugge
Antwerp

46

Mönchengladbach

Copenhagen
Malmö

Dublin

1

44

52

Hel

Oslo

1

Essen
logport V

E35

44

Dortmund

Le Havre

57

Paris

61

Hamburg
Berlin

Bremen
200km

Brussels

Frankfurt

Luxembourg

400km

600km
800km
Prague

1000km

Munich
Vienna

E35

46
46

Bern

57

Genoa

Leverkusen

61

Marseille
E40

57

Cologne

E40

Sarajevo

Belgrad

Lisbon
Rome

E40

E40

Skop
Tirana

E40
E40

Lülsdorf

E40

Düren

Bratislava

Budapest
Ljubljana
Zagreb

Madrid

61

Warsaw

E40
61

59

Bonn

E35

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The Company

Annual Report 2014

used to ship merchandise globally. The project is now in the implementation phase
during which prototypes of the frame are being built and tested.
Project Goodsound got underway at the beginning of 2014. The purpose of the project
is to identify and test procedures for reducing sound emissions when using a crane
to move intermodal loading units. duisport is not the only company benefitting from
the project. It concerns most of the 200 handling facilities in Germany, the majority of
which are in metropolitan areas. These areas not only have ongoing noise emissions
but also short bursts of noise, particularly when empty or partially loaded containers are being disconnected or put into position. Innovative processes are intended to
reduce the impact of noise emissions on neighboring properties significantly.

As part of the Goodsound project,
new procedures will be tested to
reduce noise emissions when using
cranes to move intermodal loading
units.

The partnership between duisport and RWE also contributes to an improvement in
environmental impact and the level of noise. The two companies are currently working
together to develop an innovative energy and logistics concept. Part of this concept
involves the use of fuel substitutes for various modes of transport – not only ships and
road vehicles but also cranes and terminal vehicles. It also aims to use logistics prop-

erties to generate solar energy. RWE is developing a new solar-cell film technology for
this purpose. A pilot project using this technology is planned for logistics buildings in
Duisburg.

Qualified employees for long-term corporate success
Alongside continuous technological innovation, staff development and the promotion
of talented young employees are essential elements in preparing for the future. That

Apprentices in our new training
courses for wood mechanics and
warehouse logistics management.

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Presenting the TalentAward Ruhr:
from left to right: young talent
Christian Okav, WDR moderator
Asli Sevindim, prize presenter Erich
Staake, prize winner Yassine Zerari.

Commitment beyond our company’s borders

Once again in 2015, duisport was
present at transport logistic, the
leading trade fair that takes place
every two years in Munich.

With a perspective that goes beyond our own company and a sense of responsibility
for our region, the duisport Group once again committed itself to Initiativkreis Ruhr
and its training initiative TalentMetropole Ruhr during the reporting period. Here, it is
worth mentioning the second annual TalentAward Ruhr. The award is given to a person committed to promoting talent and one whose efforts open the doors to training
and professional opportunities for young people, such as this
year’s winner, Yassine Zerari, and his showcase project Duisburger Schulmodell (Duisburg school model). This program
primarily advocates on behalf of students with weaker school
performance who would otherwise have little chance during
the regular application process.
is why we offer our young employees opportunities such as the ability to gain further
qualifications by allowing them to pursue their studies while working. We also offer
young college graduates attractive career-entry opportunities through our trainee programs. The goal of both programs is to retain highly qualified staff both in the region
and at our company – as well as to ensure a sufficient number of qualified employees
through our various training courses.
We also expanded our training offering during the reporting period. Thanks to the
positive development of packaging logistics, we are now offering a training course to
become a wood mechanic for the first time. Doing so will enable us to be involved in this
growing field early on to ensure that we support the right employees both today and
tomorrow. Seeing that their number surpassed 1,000 for the first time last year is both
very rewarding and an incentive for us.

The event Dialog mit der Jugend (dialog with youth), which
was organized by Initiativkreis Ruhr and its affiliated companies, also took as its theme the view that young people will
shape our future. As in recent years, students at the upper
class level once again received the opportunity to learn about
our company over the course of an afternoon during a series
of meetings in spring 2015. They also had the chance to speak
personally with CEO Erich Staake. The students’ great interest
in this event and our diverse range of activities strengthens us in our ongoing commitment to education, training, and the promotion of talent. And we do this on a continuous basis with the goal of motivating young people to actively participate in our
company with passion and creativity and thus help prepare it for the future.

Erich Staake stands among senior
class students at the event Dialog mit
der Jugend (dialog with youth).

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Group Report

Annual Report 2014

Table of contents
48
50
50
50
51
53
54
57
60
61
61
62
62
63
63
64
64
65
66

Group Report 	
	
I. 	 Fundamentals of the group	
	
II.	 Financial report				
			
1. 	 Framework conditions 	
			
2.	 Presentation of net assets, financial position, and results	
			
2.1	 Infrastructure and Suprastructure business segment	
			
2.2	 Logistics Services business segment	
			
2.3	 Packaging Logistics business segment 	
			
2.4	 Shareholdings 	
			
2.5	 Investments	
			
2.6 	 Employees	
			
2.7 	 General statement on business performance	
	
III.	Supplementary report				
	
IV.	Forecast, risk, and opportunity report				
			
1.	 Risk and opportunity report	
			
2.	 General statement on opportunities and risks	
			
3.	 Forecast	
	
V.	 Sustainability				
	
VI.	Declaration pursuant to Section 312, Paragraph 3, AktG				
	
Annual financial statements 	
	
Duisburger Hafen Group	
	
Duisburger Hafen Aktiengesellschaft 	
	
Consolidated notes and notes on the financial statements of
	
Duisburger Hafen Aktiengesellschaft 	
	
Audit opinion 	
	
Shareholders 	

90
116
118

Imprint 	

120

Port map 	

121

68
70
82

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Group Report

Annual Report 2014

Group Report
I. FUNDAMENTALS OF THE GROUP
Duisburger Hafen AG is the holding and management
company of the Port of Duisburg, the largest inland
port in the world. As the highest-capacity trimodal
hub in central Europe, the harbor is distinguished by
a combination of advantageous geographical location, favorable location conditions, and extensive
logistics expertise. With an intelligently linked network of logistics service providers, it offers the best
conditions for providing supply and disposal services
for industry and trade companies throughout Europe.
The resulting direct, multimodal networking of international freight transport underscores the position of
the Port of Duisburg as a gateway to the markets of
Europe.

shares in the company. The remaining third are held
by the city of Duisburg.

ing to the report, transport volume climbed by 2.9%
over the previous year to 4.5 billion metric tons. The
increased growth of the economy thus also had an
impact on the transport of goods in 2014.

II. FINANCIAL REPORT
1. Framework conditions
According to calculations by the International Monetary Fund (IMF), global growth in 2014 was 3.3%,
which was unchanged from the year before. China
was once again a driver of growth in 2014 but at a
lower rate of growth of 7.4% compared to previous
years. In addition, India made a stronger contribution
to global growth with a growth rate of 5.8% in 2014.
The global economy also received momentum from
the US (+2.4%). The eurozone, by contrast, provided
only a below-average contribution of 0.8% to this
trend.1

Against this background, the duisport Group is an
innovative provider of tailored solutions for industry
and the logistics sector. The range of services offered
spans from individual establishment management
to the development of integrated port and logistics
concepts, intermodal transport services, and the
specialized packaging of industrial goods. The Group
provides the associated service promise through its
structure with the business divisions Infrastructure
and Suprastructure, Logistics Services, and Packaging
Logistics.

With respect to the economy in Germany, growth
was higher in 2014 than the previous year according
to the Federal Statistical Office. Gross domestic product grew by a total of 1.5% in 2014, which was well
above the growth rate of 0.1% in 2013.2 In terms of
foreign trade, Germany recorded an average growth
rate of 3.7% in 2014 according to the Federal Ministry
for Economic Affairs and Energy.3

The duisport Group is a service-oriented link between
manufacturers and customers, connecting international markets and thus functioning as a driver of
regional and global flows of goods. In doing so, duisport acts as partner to the logistics sector and industry, making a significant contribution to the optimization of transport chains.

With some 2.85 million employees, the logistics sector generated about 230 billion euros in sales in 2013.
This corresponds to growth of 2% over the previous
year. According to information from the Bundes­
vereinigung Logistik (BVL), the level of employment is
expected to have remained steady in 2014. In terms of
sales, the BVL expects growth of 2% for 2014.4

Beteiligungsverwaltungsgesellschaft des Landes
Nordrhein-Westfalen mbH holds two-thirds of the

As the Federal Statistical Office reported, freight
traffic in Germany also increased in 2014. Accord-

Some 3.5 billion metric tons were transported on Germany’s roads last year, a 3.7% increase over 2013.
Road transport also represented the highest share
of transport volume (78%) in 2014. At +0.8%, inland
shipping increased slightly compared to the year
before. The volume of goods transported via this
method grew to 229 million metric tons. By contrast,
the volume of rail transport fell by 2.4% to 365 million metric tons in 2014. There were sharp declines
in October and November in particular as a result of
strikes.

2. Presentation of net assets, financial position, and
results
The duisport Group increased its revenue5, including revenue from strategic investments, from 175.4
million euros in the previous year to 197.6 million
euros (of which revenue from strategic investments
amounted to 14.3 million euros) in the reporting year
and is thus slightly above the forecast range for 2014
of 180 to 185 million euros. The EBITDA6 improved to
35.2 million euros in 2014 (2013: 30.1 million euros). A
clear and sustainable increase in earnings can thus
be seen in the last 17 years. The result from ordinary

activities is 15.6 million euros and thus also well above
last year’s level and the forecasted value.

197.6 m. euros

Sales5 of the duisport Group in the
2014 reporting year.

In the Infrastructure and Suprastructure business
segment, the duisport Group had turnover5 amounting to 47.4 million euros (2013: 45.7 million euros). The
increase of 3.7% resulted from new establishments
and new leases at a continued stable level of rental
prices at the location. The warehousing space of the
duisport Group was almost fully occupied, as in the
previous year.
In the Logistics Services business segment, turnover5
increased in 2014 by 12.0% to 60.4 million euros (2013:
53.9 million euros). The main reason for this positive
development is the high and increasing importance
of duisport as a central inland hub and gateway for
the transcontinental flow of goods in Europe. The
extraordinarily good results in combined transport
offer particular proof for this. For example, there was
double-digit growth for all means of transport in the
container sector.
The positive development seen in the handling
results is based mainly on the high level of invest-

	IMF World Economic Outlook Update dated 20 January 2015.
	Federal Statistical Office on 15 January 2015.
3
	The 2015 Annual Economic Report produced by the Federal Ministry for Economic Affairs and Energy.
4
	Logistik heute on 23 October 2014.
5
	 Revenue including capitalized own services and changes in inventory.
6
	Earnings before interest, taxes, depreciation, and amortization.
1

2

51

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Group Report

Annual Report 2014

Container handling rose by 12.8%
to 3.4 million TEUs in 2014.

ments in recent years, the related establishments
by international customers and the demand-based
expansion of terminal and handling capacities at the
Port of Duisburg.
In 2014, the Packaging Logistics business segment recorded a turnover volume5 of 71.7 million
euros, which is 13.3 million euros more than in 2013­
(58.4 million euros). In addition to the full inclusion
of the recently acquired Weinzierl companies for
the first time, growth in turnover at the established
packaging companies, which was significant in some
cases, also contributed to the increase in turnover
over last year’s level.
Despite a very difficult market environment with
intense competition, the packaging area managed to
expand its current customer relationships and also
gain new customers. In addition, thanks to continuous adjustments and optimization measures, it was
also possible to mitigate price pressure in terms of
results.
During the past financial year, the duisport Group
spent 17.0 million euros (2013: 49.7 million euros) on
tangible asset investments and financial investments
(gross). Projects geared toward expanding the capacity at existing logistics facilities were carried out. One
of the main projects was the installation of a gantry
crane to further increase container handling at the
combined transport terminal logport III. Another
investment was the purchase of two mainline locomotives at duisport rail GmbH to secure and expand
transport capacities.
On the whole, the stable operating results of the
duisport Group over the years are the result of our
sustainable investment policy at the Duisburg location, in the region, and in relation to international
activities.

The total balance sheet of the Group rose by 0.8%,
from 340.9 million euros to 343.7 million euros. In the
infrastructure business, the majority of assets are
tied up over the long term as fixed assets, such as real
estate, buildings, and port infrastructure. At 84.8%
(2013: 86.0%), investment intensity continues to be
the dominating factor of the balance sheet structure.

343.7 m. euros

Total assets of the duisport Group
rose by 0.8%.

As part of the expansion of the business volume in all
segments, current assets rose in 2014 to 51.7 million
euros (2013: 48.3 million euros). On 31 December 2014,
the equity ratio of the duisport Group was 36.5% (31
December 2013: 34.8%). This increase is primarily due
to the good Group results.
Compared to the previous year, net liabilities to
banks, including current asset securities, fell by
10.2 million euros. The credit conditions underlying the loan portfolio of the duisport Group remain
almost unchanged compared to the year before.
Cash flow I7 rose from 22.0 million euros to 24.2 million­euros. The main reasons for this are the improved
annual results, increased write-downs in connection
with the intensive investment activity in recent years,
and higher long-term provisions.
As a result of the lower investment volume compared
to the year before, the cash flow from investing activities was –11.2 million euros in 2014 (2013: –52.3 million
euros). Given the decreased loan portfolio, the cash
flow from financing activities fell during the same
period to –12.7 million euros (2013: +24.5 million euros).

At 30.5 million euros, revenues in the annual financial
statement for Duisburger Hafen AG are 3.0 million
euros lower than last year but well above the value
forecast of at least 27 million euros. The sales volume
was positively influenced last year by a settlement
agreement with a customer.

have been an increase in turnover compared to the
year before.

At 9.4 million euros, the annual profit is 2.0 million
euros more than the previous year’s value and higher
than the value forecast last year. Sales and income
were positively influenced by the high capacity utilization in the Infrastructure and Suprastructure segment as well as by the increased income from equity
investments.

After the duisport Group reactivated an initial area of
some 60,000 m2 in 2013 for the handling of imported
coal on the coal island it took over, the usable area
was more than doubled to 125,000 m2 at the beginning of 2014. In addition, a long-term partnership was
concluded in 2014 with HMS Bergbau AG Coal Division to further develop the coal island.

The equity ratio of Duisburger Hafen AG increased
from 32.9% to 35.1% compared to the previous year.
The increased equity capital is accompanied by a balance sheet that remains nearly unchanged.

At logport I, another property of about 47,900 m2
with a hall complex that is approximately 26,000 m2­
large was made available to long-term customer
NYK/Yusen Logistics (Deutschland) GmbH in 2014.
The new logistics facility is the fourth expansion by
NYK/Yusen Logistics at logport I.

2.1 Infrastructure and Suprastructure
business segment
Within the Infrastructure and Suprastructure business segment, the infrastructure business division
generated turnover5 from the lease of commercial
premises of 26.6 million euros (2013: 29.0 million
euros). The higher amount the year before was the
result of a one-time effect from the early termination
of a lease, which resulted in the collection of compensation. Without this one-time effect, there would

Overall, at around 232,000 m2 (2013: 264,000 m2), the
marketing performance in 2014 was about the same
as in the prior year.

A 10,400 m2 property adjacent to the combined-transport terminal logport III was leased. In August 2014,
the first rail crane, with a capacity of 90,000 loading
units per year, was put into operation at logport III.
A second rail crane with the same design will follow in 2015. This expansion of capacity will meet the
increased demand and additional rail traffic at logport III.

	 Revenue including capitalized own services and changes in inventory.
	 Annual profit + depreciation for fixed assets + change in long-term provisions + changes in deferred tax assets.

5
7

53

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Annual Report 2014

Automobile manufacturers are
also increasingly using the rail
connection via the “New Silk Road”
to export assembled vehicles and
automobile parts to China.

The Volkswagen CKD (completely knocked down)
center was opened at the Duisburg-Kasslerfeld location in the spring of 2014. This export hub, occupying
a warehousing space of approximately 24,000 m2, is a
significant component of the logistical supply chain
for the automobile group’s non-European production
plants.
Right next to the VW CKD center, Benteler Distribution
Germany is building Europe’s largest high-bay warehouse for steel pipes on an area of about 53,500 m2.
The construction of the new central warehouse complex will be completed during the first few months
of 2015 as planned. With the opening of the facility,
Benteler will have a central warehouse with a total
capacity of around 35,000 m2.
The turnover in the Suprastructure business division
comprises the lease of warehousing space and other
suprastructure facilities for logistical purposes. In
2014, this amounted to 20.8 million euros, which is
25.2% more than the level of 16.6 million euros from
the previous year.
5

This is mainly due to the lease of the newly constructed halls for NYK/Yusen Logistics at logport I,
the inclusion of the hall rents for the AUDI CKD center
in 2014 for the first time, and the commencement of
operations of the rail crane at logport III.
The Duisburg port has a total of more than 2 million m2
of covered warehouse area space available, which is
used by the some 300 companies based in the port.

2.2 Logistics Services business segment
The turnover growth in this business segment of 11.7%
compared to the year before was largely due to the
automotive business with AUDI and VW, the expan-

The focus of duisport agency in 2014 was
on developing sector-specific and customer- as well as needs-based solutions.

sion of activities on the coal island, and the higher
handling volumes related to the combined-transport
terminal logport III.
On the whole, the volume increases recorded in the
transport area in combined transport were significant. This is largely due to the growing importance
of the hub-and-spoke function of the duisport logistics hub in combination with the ports of Zeebrugge,
Antwerp, Rotterdam, Amsterdam (ZARA) for collecting and distributing the international flow of goods.
Including the private commercial ports, 131.1 million
metric tons of goods were handled in the entire Duisburg port in 2014 (2013: 123.2 million metric tons). The
increase largely stemmed from gains related to handling at the private company ports of Thyssen­Krupp
and HKM, which have thus recovered from the economic collapse in 2012, and the duisport Group volume increase.

131.1 m. metric tons
Cargo was handled through the port of
Duisburg, including at private ports.

of 32.0 million metric tons in 2014 (2013: 30.7 million
metric tons). The results of combined traffic also
improved once again. Container handling by ship,
rail, and truck grew by 12.8% to 3.4 million TEU (2013:
3.0 million TEU) and thereby reached yet another
record high.

Bulk goods
At 12.9 million metric tons, bulk goods handling by
ship and rail was about the same as the year before
(2013: 13.0 million metric tons).
At 5.1 million metric tons, only coal suffered market-related losses (2013: 5.6 million metric tons). Handling volume fell in this area due to lower utilization
of coal power plants as a result of the German energy
transition policy.
All other segments, such as mineral oils and chemicals; stone, earth, and building materials; and scrap
and other goods, exceeded the prior year’s value in
2014 with a total handling volume of 7.9 million metric tons (2013: 7.3 million metric tons).

again the strongest goods group with a proportion of
49% of all ship and railway handling (2013: 46%).
If all means of transport are included, container handling reached a total of 3.4 million TEU in the ports
of the duisport Group in 2014 (2013: 3.0 million TEU).
Ship and rail container handling (including roll-on and
roll-off goods) were increased from 14.5 million metric tons to 16.0 million metric tons. Converted into
the standard measure of container cargo capacity,
the twenty-foot equivalent unit (TEU), ship and railway container handling reached 1.7 million TEU (2013:
1.5 million TEU), which corresponds to an increase of
about 12%.

Logistics services
The core of the service portfolio of the duisport
Group includes the structuring and optimization of
transport chains, property-related services from construction consultation to building management, and
the strengthening of Duisburg railway traffic hub.

duisport agency GmbH (dpa)
General cargo handling

In the duisport Group’s ports, the transport volume handled by ship, rail, and truck rose by 4.3% to
64.6 million metric tons in 2014 (2013: 62.0 million
metric tons). This was mainly due to increases in combined transport. The key drivers in this regard were
automobiles, chemicals, and consumer goods.
The transport of goods by ship rose to 15.6 million
metric tons in 2014 (2013: 15.0 million metric tons). At
17.1 million metric tons, rail transport exceeded last
year’s value of 16.3 million metric tons. Truck transport (prehaulage and posthaulage) recorded a result

General cargo handling by ship and by rail rose in 2014
in the ports of the duisport Group to 19.7 million metric tons (2013: 18.3 million metric tons). The iron, steel,
and nonferrous metals segment was at nearly the
same volume as last year with a handling volume of
3.7 million metric tons (2013: 3.8 million metric tons).
Containers (including roll-on and roll-off goods) were

	 Revenue including capitalized own services and changes in inventory.

5

The transport markets were characterized by strong
price competition in 2014. Market participants, particularly intermodal operators, had what in some
cases were significant problems offering their services in a way that covered costs. They responded to
this ongoing market development by forming new
partnerships. Another difficult factor was the increasing impact of the competition between northern and

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duisport rail expanded its service
offering in the areas of rail services and
operational management in 2014.

western ports on inland ports, leading to competing
intermodal offers and concepts.
On the whole, the unfavorable market influences led
to major challenges to the further development of
our logistical network. Nevertheless, the rail offerings along the most important European corridors
were further strengthened and expanded in 2014.
Southeastern Europe and Scandinavia were a major
focus here. Business with China was also expanded
on the “New Silk Road” and trans-Siberian routes.
There were also further investments in regional rail
offerings. For example, the Krefeld-Uerdingen chemical park was connected directly to the Europe-wide
network of duisport with the commencement of
rail-shuttle service between logport I and logport III.
This will make it possible to avoid road transport over
the long term.
Another focus by dpa was on the expansion of sector-specific and customer- and need-based offerings,
such as the one in the automotive sector related to
supply and disposal for the VW and AUDI CKD locations in Duisburg.
The dpa container stowage business area was
expanded significantly in 2014 thanks to the commencement of operations of a second facility at logport I. This created the necessary capacities for further growth as well as for attracting new customers
in the container area.
In 2014, the company showed sales revenue of
47.9 million euros (2013: 42.9 million euros) and
achieved very satisfactory results along the lines of
last year’s level.

HTD sales and earnings were much
higher in 2014 than the year before.

dfl duisport facility logistics GmbH (dfl)
dfl focuses on logistical services in the port logistics
business area, concentrating on handling operations
at various terminals.
In 2014, it focused in particular on the expansion of
handling capacities at logport III with the commencement of operations of the first container crane, the
start of full operations of the AUDI business at logport II in the second half of 2014, and the further optimization of handling operations on the coal island.
The second water crane at the D3T terminal was
deployed in the fall of 2014. Both cranes at the container terminal are therefore now operated by dfl.
In addition, the sale of desiccants under the brand
name “duisbox” was expanded successfully.
In 2014, the company showed sales revenue of 10.1 million euros (2013: 7.4 million euros) and achieved results
above last year’s level.

duisport rail GmbH (dpr)
The public railway operating company dpr concentrates on local and regional traffic. In this regard, dpr
carries out transport services for numerous regional
train shuttles.

corresponding services for a globally active chemicals
group since 2014.
Two mainline locomotives were acquired in 2014 in
order to strengthen the locomotive pool. In view of
the new requirements in the rail industry and in order
to optimize operational processes, new rail software
was also implemented.
In 2014, the company showed sales revenue of
9.8 million euros (2013: 9.7 million euros) and achieved
slightly lower results than the previous year.

duisport consult GmbH (dpc)
dpc develops customer-oriented port concepts and
relies on the expertise of the duisport Group and the
operations of the Port of Duisburg in the preparation
of independent offers. On this basis, the company can
provide competent services in the area of studies,
analyses, technical assistance, operational planning,
technology, and project management.
Its most significant projects in 2014 included approval
planning for a logistics complex on property owned by
Grundstücksgesellschaft Südhafen mbH in Krefeld as
part of a customer order, and the planning for a gantry
crane system for a customer at the Port of Duisburg.

Besides this, services like loading port operations,
single-­carriage traffic, weighing, and technical carriage inspections are offered. Sales revenue of dpr
consists of works management and route traffic.

The services of duisport consult are essentially related
to planning, construction management, and project
management work. In addition, engineering and project management measures for several port-related
projects were carried out.

In 2014, dpr further expanded its service offering in
the area of rail services and in the area of operational
management. In the chemical industry, it has offered

In the 2014 financial year, dpc had overall results of
2.1 million euros (2013: 4.9 million euros) and positive
annual results.

Heavylift Terminal Duisburg GmbH (HTD)
The Heavylift Terminal is operated by duisport – with
a stake of 51% – together with two heavy cargo freight
forwarders.
The terminal has some 20,000 m2 of space and is used
for handling, temporary storage, and packaging as
well as assembly work.
Assembly is seeing increased demand. HTD is therefore increasingly focusing on the trend toward
offering an “extended workbench on the water” as
part of its services. In this regard, HTD provides the
entire infrastructure and also supports customers by
including the duisport Group product portfolio in the
service range.
In 2014, HTD successfully completed an order from
a machinery and plant engineering company, which
tasked it with moving six large, heavy components,
some of which weighed up to 220 metric tons.
The 2014 turnover and results were much higher than
the level of the previous year.

2.3 Packaging Logistics business segment
Besides independent companies both locally and
abroad, the Packaging Logistics business segment
comprises numerous subsidiaries and operating
units. The business division employs a total of some
500 people.
As an integral component of the duisport Group
offering, Packaging Logistics not only supplements
the existing infrastructure and suprastructure offering but also expands the logistical services portfolio.

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59

In 2014, duisport packing logistics focused on the
complete integration of the Weinzierl businesses.

The duisport packaging and project logistics services
form a strategically important interface to machinery
and plant engineering for the Port of Duisburg. At the
same time, it expands and strengthens the business
connection to one of the most important sectors for
Germany as an export country.
duisport’s objective is to provide the best support
possible to customers in the capital goods industry
in terms of bundling and making logistical optimizations to the flow of goods. In the Packaging Logistics
segment, the focus was on an expansion of activities
in southern Germany in 2014.
Despite difficult market conditions, which were characterized in particular by intense price competition,
turnover5 was increased significantly over the prior
year. In addition to the full inclusion of the Weinzierl
companies for the first time, turnover at the established packaging companies, which was significant in
some cases, also contributed to this.
In 2014, nearly every company in the packaging segment expanded its current customer relationships
and gained new customers. Progress was also made
on the cost side thanks to adjustments and process
optimizations.
With effect from 1 January 2014, the duisport Group
made the following changes to the ownership structures of several companies in the area of packaging
logistics as part of a barter agreement with the shareholders of the Weinzierl Group in order to improve its
internal structures:
• Increasing the stake in Holz Weinzierl Fertigungen
GmbH & Co. KG, Weinzierl-Beteiligungs-GmbH, and
Omnipack GmbH from 25.1% each to 50% each plus
one share.

• Increasing the stake in Weinzierl Verpackungen
GmbH from 51% to 74.9%.
•R
 educing the duisport stake in dpl GmbH from
100% to 74.9%.
Furthermore, dpl Süd GmbH was merged with Weinzierl Verpackungen GmbH to create dpl Weinzierl Verpackungen GmbH, with effect from 1 January 2014.
In the area of packaging logistics, duisport packing
logistics GmbH (dpl GmbH), as the largest subsidiary,
is positioned in the international market with a broad
offering of packaging, warehousing, and transport
services. dpl GmbH is among the market leaders in
the area of special packaging for the capital goods
industry.
With 26,000 m2 of warehousing space and 57,000 m2
of open space at the Duisburg, Essen, and Sendenhorst locations as well as high-tech equipment, dpl
GmbH offers one of the most modern European
packaging operations for the capital goods industry.
This is also connected trimodally via the Port of Duisburg. Additional locations are maintained in Hamburg, Antwerp, and Rotterdam (since January 2014).
The market environment was challenging in 2014 for
dpl GmbH and characterized by considerable uncertainty regarding future economic development.
Geopolitical conflicts, especially in Ukraine, caused
uncertainty for many investors. Exports to Russia
plummeted over the course of the year; exports to
China were stagnant.
Despite the extremely difficult market situation, dpl
GmbH gained important new customers and further
expanded existing customer relationships.

In 2014, dpl GmbH had sales revenue of 39 million
euros (2013: 33.2 million euros). This corresponds to
an increase in sales of more than 17% over the previous year. The company closed the last financial year
with a positive annual result, which was significantly
higher than the value for the previous year.
dpl Chemnitz GmbH (dpl Chemnitz) is positioned as
a provider of export packaging for the capital goods
sector in the eastern German states.
Its activities are based primarily in Thuringia and Saxony but also extend to neighboring federal states.
The company is the regional market leader and is
gradually expanding its activities.
Overall, the 2014 financial year at dpl Chemnitz was
characterized by a restrained level of orders from large
individual customers. This was the result of various
geopolitical and economic factors in countries receiving exports, negatively affecting the export business
of these customers. However, this was compensated
by the expansion of existing customer relationships
with medium-sized companies. Consequently, dpl
Chemnitz had sales revenue of 9.6 million euros in
2014 (2013: 9.2 million euros). The company closed the
last financial year with a positive annual result that
was at the same level as the previous year.
At dpl Weinzierl Verpackungen GmbH (dpl Weinzierl), which was formed through the merger of dpl
Süd GmbH and Weinzierl Verpackungen GmbH, optimization measures at the Munich location led to
improved results in 2014. In the Rhine-Main region,
the company mainly conducts business with large
customers as an in-house provider of logistics ser-

	 Revenue including capitalized own services and changes in inventory.

5

vices. Other business with customers that are mainly
medium-sized businesses, which is conducted at the
Sinzing location, was stable. With sales revenue of
about 10.5 million euros, dpl Weinzierl had a positive
annual result in 2014.
At Holz Weinzierl Fertigungen GmbH & Co. KG (HWF),
which has locations in Bavaria (Sinzing, Velburg) and
Saxony (Schönheide), measures to improve the security of supply in the crate sector were implemented,
and processes and costs were also optimized in 2014.
In addition, steps were taken to further modernize
equipment, particularly in sawing and transport technology. Annexes to the production facilities in Sinzing
and Velburg were planned in 2014. The new facilities
will be occupied in 2015.

83,000

square meters
Space for packaging services
at the locations in Duisburg,
Essen, and Sendenhorst.

With sales revenue of about 12.0 million euros, HWF
had a positive annual result in 2014.
In order to increase the operational business at Omnipack GmbH (Omnipack), the packaging activities of
the Stuttgart-area subsidiary in Metzingen were further expanded. In addition to packaging and warehousing equipment and machinery, the Omnipack
service range also includes crate and pallet production. With utilization remaining stable, it generated
about 2.5 million euros in sales revenue in 2014.
Despite the additional costs presented by the estab-

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The number of employees at the duisport
Group exceeded the 1,000 mark in 2014 for
the first time.

There are currently eight gantry
cranes on logport I, of which three
have direct access to water.

lishment of the new location in Metzingen, the result
in 2014 was stable.
In view of the international structure of the dpl
Group, further measures were implemented in 2014.
In China, the merger of the Shanghai and Wuxi locations is almost complete. The synergies of this are
expected to materialize in 2015.
The HPE standard, which is used by dpl China and
recognized internationally, is a quality criterion that
is especially valued by both international and, in particular, Chinese customers. Based on high-quality
packaging services with corresponding additional
services, such as comprehensive insurance coverage,
the business model in China will gradually be further
expanded under the guidance of German engineers
and technicians.
The establishment of an internal packaging unit with
integrated crate production on-site will ensure that a
consistently high level of service quality can be maintained at all times.

berg, Rhineland-Palatinate, and Saarland. E.I.L.S. is
an industrial packaging company headquartered in
Alsace-Lorraine with locations near Strasbourg and
Mulhouse. It had stable business performance for the
year as a whole. With sales revenue of about 4.7 million euros, it had a positive annual result in 2014.
IPS Integrated Project Services GmbH (IPS), a joint
venture with Ferrostaal, is positioned as a project
shipper within the duisport Group. The company
carried out its largest single shipment ever in 2014.
Thanks to its comprehensive expertise in the area of
project shipping, IPS was able to cover the entire supply chain during the shipment of a 515-metric-ton converter, the centerpiece of an ammonia plant that will
produce up to 2,000 metric tons per day, to Trinidad
and Tobago. In addition, IPS organized global deliveries of individual shipments weighing up to 120 metric
tons to a construction site in Mauritania as part of an
order it carried out. Here, the flow of goods were consolidated, packaged in an optimal manner for transport, and, in some cases, transported via charter ship.
With sales revenue of about 5.0 million euros, IPS had
a positive annual result in 2014.

A need for packaging and logistical services in line
with European standards has also been identified in
India.

2.4 Shareholdings

The services offered by dpl India comprise both packaging activities, including crate production, and the
organization of shipping projects. A large customer
with an international focus was gained during the
year. To meet the need for packaging services and to
further expand business activities, internal crate production will be set up in India in the future.

In the 2014 financial year, the duisport Group held
shares in various operating companies of terminals in
the field of container handling, combined transport,
and coal-import handling. Furthermore, it is engaged
in the development and marketing of logistics sites
and real estate in the Ruhr region via its shareholding in logport ruhr GmbH. In addition, there are joint
ventures with industrial and business partners for
further expanding strategic business areas.

With the French industrial packaging company E.I.L.S.
(Emballages Industriels Logistique & Services), the
duisport Group is represented in the packaging logistics business in France. The company’s activities also
extend to the German states of Baden-Württem-

2.5 Investments
Following extraordinarily high investments of
49.7 million euros in 2013, including major projects
for AUDI, NYK/Yusen Logistics, and the new combined-transport terminal logport III, the duisport
Group decreased the level of investment in the past
financial year somewhat to 17.0 million euros. The
main focus of investments in 2014 was on securing
and expanding existing capacities. In the transport
area, this included the purchase of two mainline locomotives, the expansion of the DIT terminal, and the
addition of the corresponding crane equipment to
the combined-transport terminal logport III.

them with professional development in order to
retain them at the corporation over the long term. In
doing so, particular emphasis is placed on the individual skills and development potential of our employees. With 31 apprentices in the occupational profiles
of business management, transport and logistics
management, real estate management, wood
mechanic and warehouse logistics management, we
assume social responsibility for occupational training
in all respects; for example, we trained significantly
more employees than required in 2014. On the whole,
we pursue a personnel policy that is focused on recognizing potential and promoting individual performance and development. In this respect, important
tools for strategic staff development were reconfigured or enhanced over the past year.

2.6 Employees
There was an average of approximately 1,000 employees, including apprentices and temporary staff, at the
duisport Group in financial year 2014. This represents
an increase in the level of employment by about 9%
compared to the previous year (920 employees).

1,000 employees
including apprentices and
contract personnel.

For the duisport Group, qualified employees are a
central element for ensuring the success of the corporation in the future. The recruitment of highly qualified new employees for all functions of our diverse
corporate group as well as the selection of dedicated
young people for our five apprenticeships (including
dual-training programs) is an important pillar in this
respect.
It is likewise important to us to promote current
employees in line with their functions and provide

As part of our personnel marketing, we are involved
in numerous initiatives (including being a founding
partner of TalentMetropole Ruhr) in order to find talented young employees in the region in a targeted
manner and retain them at our company on a longterm basis. This will ensure that we have the specialist
staff and managers we need in the future by engaging the best people in the logistics field.
By participating in various research projects duisport
does more than develop solutions for the challenges
faced in the logistics industry. The collaboration with
leading colleges and universities, particularly the
University of Duisburg-Essen provides us with direct
access to highly qualified employees, which enables
us to meet the rising requirements of the international business in logistics. Soon-to-be graduates also
receive the opportunity from duisport to complete
internships as well as practical bachelor’s and master’s degrees.
duisport also shows the same commitment in its
internal human resources work. With respect to generation management, the skills of its staff are promoted in a targeted manner, irrespective of the work-

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duisport was honored as top
employer in 2014.

life phase they are in. Special emphasis is also placed
on preventive health management and the continuous improvement of work-place ergonomics.
Equal opportunity and the ability to balance work and
family are also core aspects of the human resources
work at duisport. Here, we strive to increase the proportion of women in all areas on a long-term basis,
particularly at the management level. In view of this,
duisport makes a concerted effort to encourage talented female employees to assume more responsibility and managerial duties on their career paths. In
addition to appropriate development measures, duisport also supports flexible work forms.
Our commitment to positioning the company as an
attractive employer, beyond the Rhine-Ruhr region as
well, resulted in Duisburger Hafen AG receiving the
“Top Job” award as one of the best medium-sized
German employers in June 2014.

2.7 General statement on business performance
The 2014 financial year was characterized by overall
low growth in the eurozone as well as by ongoing
geopolitical uncertainty.
The effects of the national debt crisis continue to be
felt and are stifling overall economic growth. Despite
these difficult conditions, the duisport Group had a
successful 2014 thanks to targeted investments and
a long-term growth strategy. A decisive factor behind
this success is the integrated approach to collaboration among the individual business areas so we can
always find the best possible logistical solutions for
our customers.
Group turnover increased again in 2014, and Group
results exceeded the high level of the previous year.

In central Europe, duisport is positioned as a leading logistics hub. Thanks to strategic investments in
the terminal area, such as the one at logport I, and
sector-oriented investments, like those in AUDI and
VW in the automotive industry, duisport further
strengthened and expanded its hub-and-gateway
function.
Another key factor is duisport’s increased entrepreneurial commitment, as seen in its takeover and
expansion of operations on the coal island.
The further development of activities in the packaging segment in southern Germany also contributed
to the overall strengthening of the duisport Group.
 
III. SUPPLEMENTARY REPORT
With effect from 1 January 2015, duisport assumed
a minority stake in the Dutch company DistriRail
B.V. DistriRail is one of the largest independent rail
operators in the Netherlands. The company currently
serves the German market with more than 20 shuttle
trains per week.
The current control and profit/loss transfer agreement between Duisburger Hafen AG and duisport
packing logistics GmbH expired on 31 December 2014
as a result of the legal change of ownership at duisport packing logistics GmbH that took place on 1 January.
Further effects after the date of conclusion, which
could have had an effect on the revenue, financial, or
asset situation, did not materialize.

IV. FORECAST, RISK, AND OPPORTUNITY REPORT
1. Risk and opportunity report
The risk management system of the duisport Group
meets all company law requirements concerning early
warning systems for risks posing potential threats to
a company’s existence. The key elements of the risk
management system are laid down in a code of practice that is binding for the entire Group. A balanced
risk-opportunity profile incorporating our operational
business processes and the Group’s strategic direction
forms the basis for the value-oriented development
of the duisport Group. The risk management system
ensures that this profile is continuously updated.
As it did last year, the risk portfolio lists 13 potential
individual risks, affecting a total of 38.6 million euros
(2013: 38.9 million euros). The observation period
spans a period of three years.
As part of risk management, these risks are reduced
through suitable countermeasures so that the potential risk volume is limited to a total of around 26.9 million euros (2013: 27.3 million euros). This corresponds
to a risk potential of about 9.0 million euros (2013: 9.1
million euros).
The key individual risks are market-side risks, risks in
connection with road access to the port as a result
of various infrastructure renovation projects in the
Duisburg metropolitan area, and risks arising from a
potential increase in debt-capital interest rates.
The market-side risks involve the operational activities of the individual business areas. They are valued
at a potential damage amount of 4.2 million euros per
year and would have a limited impact on the company’s income if they occurred. Thanks to the countermeasures that were introduced, the risk was reduced.

The risk arising from limited access to the Ruhrort section of the port as a result of various infrastructure
renovation projects in Duisburg is valued at a potential damage amount of 3.3 million euros per year. The
probability of occurrence in this case is medium.
Specifically, the risk affects the Ruhrort section of
the port as a result of the renovations and potential
load reductions in in the area of the Oberbürgermeister-Lehr Bridge. With respect to the more immediate environment, the risks related to the A40 highway over the Rhine in Duisburg-Neuenkamp, which is
in need of repairs, have also been taken into account.
This bridge is similar in design to the A1 bridge in
Leverkusen. The steel bridge is under close scrutiny
because there is significant damage to the welding
seams. There have already been partial closures as a
result of long-term repairs.
Based on existing profit-and-loss transfer agreements
and central financing, Duisburger Hafen AG bears
most of the economic risks for activities in the Group
companies.
In doing so, our financial transactions are subject
to predefined limits. The availability of funds has
been secured via lines of credit with several different banks, and borrowing is restricted through covenants that require us to maintain a consolidated
equity ratio of at least 30%. In the event of changes
in the companies that make up the duisport Group
that would lead to the portion of public shareholders
falling below 50%, contractual provisions have been
agreed granting the banks in question a right of termination.
The credit portfolio risk structure is monitored
through the use of key figures and continuously
compared with market estimates. Interest rate risk
is reduced to a minimum through the use of interest

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Expectations at duisport Group
headquarters are for a stable
development again in fiscal
year 2015.

derivatives. The duisport Group takes comprehensive
measures to hedge against any financial risks beyond
this.
The relevant sections of the duisport Group have
taken out suitable trade credit insurance to cover
potential debt defaults.
The highly competitive environment in which the
duisport Group operates as well as unfavorable conditions with respect to overall economic growth in
2014 make continuous adjustments to market conditions necessary. duisport has always responded to
these requirements promptly and with the necessary
customer focus. Long-term growth is also ensured
through the expansion of existing transport routes
and the development of new ones, where the expansion of market share on the basis of a stable economic situation at the duisport Group is viewed as an
opportunity.
The duisport Group is the largest infrastructure provider in the region in and around Duisburg. This poses
the possible risk that leased areas must be restored
after being returned by the previous tenants before
they can be offered for use by new tenants. We have
largely minimized financial burdens for the duisport
Group that result from this by agreeing to restoration
obligation contracts with our tenants. Regarding our
shareholdings, we closely observe individual units in
order to be able to react to undesirable developments
in due time.
Significant price-change risks, default risks, and
liquidity risks, as well risks from payment fluctuations, which are of importance for the evaluation of
the situation or the foreseeable development of the
Group, do not exist. The companies of the duisport
Group are serviced with capital according to business
purpose and by taking into consideration the risk situation.

2. General statement on opportunities and risks
In view of the overall assessment of opportunities
and risks, it should be noted that during the reporting period no risk was discerned that, individually
or combined, would threaten the existence of the
duisport Group. The identified risk volume is almost
unchanged from the previous year.

being expanded so that coal that is delivered can be
stored on the expanded area and, if necessary, sifted
and mixed.

of land during property development are carried out
with a comprehensive view of economic and environmental concerns.

The coal is then transported to consumers by inland
shipping and rail. Thus, the entire value creation chain
is covered. With the realization of this project, the
coal logistics activities that were started successfully
in 2013 on the basis of a long-term agreement will be
expanded considerably.

Developing the Group’s business model on a solid
foundation for the coming decades and retaining
our employees over the long term through programs,
such as our health management program, play an
important role at duisport. We also take social issues
into consideration and thus create the conditions for
work-life balance.

3. Forecast
The International Monetary Fund has forecast modest growth for the global economy of 3.5% for 2015.
It has forecast growth rates of 2.0% for the eurozone
and Germany respectively.
Given the anticipated moderate growth of overall
economic production, it is assumed that the transport and logistics sector will only grow modestly in
2015.
With respect to machinery and plant engineering,
the German Engineering Association (VDMA) expects
machinery and plant equipment to increase by 2% in
real production terms in 2015. Opportunities are also
opening up with regard to the reindustrialization process in the US. Another positive factor is the largely
stimulative effect that low commodity prices have on
the global economy.
The moderate growth of the German machinery and
plant engineering business will likely have a corresponding impact on the overall volume of the packaging industry.

In addition, further investments to strengthen the
location are planned. Approximately 23 million euros
will be spent to expand and modernize several container terminals through 2017. Thus the capacities
of the port will be expanded proactively and will
be developed further based on concrete customer
requirements.
The duisport Group will continue to pursue its internationalization strategy with the objective of increasingly building on logistics chains and services in
future-oriented target markets, such as Turkey and
southeastern Europe, and providing customers with
collaborative assistance in exploiting these markets.
Including the revenue from non-Group investments,
the duisport Group plans total income in financial
year 2015 of between 200 to 205 million euros and a
post-tax result that is once again stable. Duisburger
Hafen AG plans sales revenue of around 34 million
euros for the 2015 financial year. According to current
planning, the result from ordinary activities in 2015
will be at the same level as the previous year.

V. SUSTAINABILITY
One of the duisport Group’s key investment projects
in 2015 will be the expansion of the coal island, with
an investment volume of 5 million euros. On an area
of about 60,000 m2 near the B side of the basin on
the coal island, the existing import coal terminal is

At duisport, sustainability is treated as an integral
part of all business fields, projects, and activities and
is therefore, naturally, a core element of its business.
Multimodal transport concepts and the revitalization

In addition to commercial success, duisport focuses
on a responsible approach to the environment. However, the issue of sustainable logistics is also becoming more important from a market perspective and
is having a positive impact on the company’s own
competitiveness. The duisport Group recognized this
early on and firmly established corresponding processes and structures within its own business model.
In particular, duisport combines sustainability with
technical innovation, ecological transport chains, and
an efficient use of land.
Sustainability starts with the climate-friendly combination of ship and rail. The duisport Group is constantly expanding its combined transport network
and promoting the sustainable use of the intermodal
transport chain. This reduces emissions while simultaneously reducing the volume of traffic on roads.
For example, thanks to our sustainability concept
for the AUDI AG establishment, automobile components are transported from duisport to Antwerp by
inland shipping and rail. For AUDI, it was important
that a strong sustainability concept be followed
when defining the processes. Rail and inland shipping
will replace more than 13,000 truck trips annually
between the Ruhr region and the port of Antwerp.

65

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Group Report

Annual Report 2014

Transport optimization is also an important aspect
of sustainability. To this end, an internal connecting
road was built between the Krefeld-Uerdingen chemical park and logport III in 2013, among other projects.
Thanks to the connection with the combined transport terminal and the commencement of operations
of the rail shuttle between logport III and logport I,
most of the cargo transports by companies located
in the chemical park can be shifted directly to rail and
routed to the international rail network.
Our sustainable activities also extend to protection
against noise, light, and water pollution, waste and
sewage disposal, the economical use of raw materials, the reduction of harmful emissions, and modern
waste management.

VI. DECLARATION PURSUANT TO SECTION 312,
PARAGRAPH 3, AKTG
For each of the legal transactions and actions listed
in the report on the relationship to affiliated companies, our company received appropriate consideration based on the circumstances that were known
to us when the legal transaction was carried out or
the action taken or omitted, and it was thus not disadvantaged by the fact that actions were taken or
omitted.

Duisburg, 11 May 2015

Duisburger Hafen Aktiengesellschaft
Sustainability is carried out in practice at duisport.
This also includes the introduction of a transport
management system for logport I, which is also
intended to reduce transport noise.
Furthermore, a solar power system will be installed
on a logistics building, and this will actively reduce
the consumption of fossil fuels. We are also committed to using reusable packaging, thus saving more
than 200 metric tons of wood each year. Regular
training with regard to environmental protection
and how personal behavior impacts the environment
strengthens awareness among employees.
A sustainability council was set up to promote sustainability awareness at duisport. The council analyzes processes and measures, provides suggestions,
and shows how sustainable actions can be better
integrated into company procedures.

Executive Board

67

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Annual financial statements

Annual Report 2014

Table of contents
68
70
70
73
74
78
80
82
82
84
86
88

Annual financial statements 	
	
Duisburger Hafen Group 	
			
Consolidated balance sheet 		
			
Consolidated income statement 	
			
Statement of changes in fixed assets 	
			
Statement of changes in shareholders’ equity 	
			
Consolidated cash flow statement 	
	
Duisburger Hafen Aktiengesellschaft 	
			
Balance sheet 	
			
Income statement 	
			
Participations	
			
Statement of changes in fixed assets 	
	
Consolidated notes and notes on the financial statements of
	
Duisburger Hafen Aktiengesellschaft 	
	
Audit opinion 	
	
Shareholders	

90
116
118

Imprint 	

120

Port map 	

121

69

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Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Consolidated balance sheet as at 31 December 2014
Assets

31 Dec. 2014

31 Dec. 2013

a

Ta

A.  Fixed assets
	

I. Intangible assets
1.	 Self-made industrial property rights and similar rights and values

0.00

98

		

2.	Purchased industrial property rights and similar rights and values,
and licenses for such rights and values

316,579.44

279

		

3.	 Goodwill

8,598,374.65

9,579

		

4.	 Advance payments made

290,705.88

132

9,205,659.97

10,088

226,505,098.40

220,130

38,816,510.10

33,115

II. 	 Property, plant, and equipment

		

1.	 Land and buildings

		

2.	 Technical equipment and machinery

		

3.	 Other equipment, operational and business equipment

4,099,175.97

3,430

		

4.	 Advance payments made and assets under construction

4,583,829.85

17,756

274,004,614.32

274,431

	

III. 	Financial assets

		

			 a) in associated companies

1,772,056.82

987

			 b) others

1,435,749.17

1,906

4,960,726.55

4,364

3,922.97

5

8,172,455.51

7,262

291,382,729.80

291,781

2.	Loans to companies in which investments are held

		

3.	 Other loans

B.  Current assets
	

I. Stock

		

1.	 Raw materials, consumables, and supplies

3,133,556.49

3,064

		

2.	 Work in progress

1,845,493.88

1,725

		

3.	 Finished goods and merchandise

568,121.14

564

		

4.	 Advance payments made

417,989.09

47

5,965,160.60

5,400

27,320,872.11

24,987

11,801.64

13

2,464,764.48

2,470

29,797,438.23

27,470

	

II. Receivables and other assets

		

1.	 Claims from supplies and services

		

2.	Receivables from companies in which investments are held

		

3.	 Other assets

31 Dec. 2013

a

Ta

	

I. Subscribed capital

46,020,000.00

46,020

	

II. Capital reserves

1,533,875.64

1,534

	

III. Revenue reserves

		

1.	 Legal reserve

37,404,661.43

33,026

		

2.	 Other revenue reserves

25,480,192.21

29,356

62,884,583.64

62,382

32,740.88

-37

	

IV. Equity difference from currency conversion

	

V. Consolidated net retained profit

9,350,149.02

7,379

	

VI. Adjustment for the interests of other shareholders

5,596,889.23

1,319

125,418,508.41

118,597

21,329.90

6

24,100.00

176

B.  Surplus from consolidation
C.  Special item with reserve portion
		

Special item for investment grants to fixed assets

D.  Provisions

1.	 Investments

		

31 Dec. 2014

A.  Equity

		

	

Equity and liabilities

	

III. Current asset securities

10,073,336.07

9,360

	

IV. Cash and bank balances

5,862,110.99

6,088

51,698,045.89

48,318

C.  Prepaid expenses

364,983.92

479

D.  Excess of plan assets over pension liability

279,124.79

311

343,724,884.40

340,889

		

1.	 Provisions for pensions

7,071,133.00

6,453

		

2.	 Tax provisions

1,183,563.30

954

		

3.	 Other provisions

39,120,766.18

33,700

47,375,462.48

41,107

117,119,989.36

126,724

420,395.47

485

8,222,634.92

9,790

126.38

0

29,928,024.15

28,094

155,691,170.26

165,093

2,223,611.95

2,645

12,970,701.40

13,265

343,724,884.40

340,889

E.	 Liabilities
		

1.	 Liabilities to banks

		

2.	 Advance payments received

		

3.	 Trade payables

		

4.	Liabilities to companies in which investments are held

		

5.	 Other liabilities

F.	 Prepaid expenses
G.	 Deferred tax liabilities

71

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Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Consolidated income statement 2014

1.	 Revenue
2.	Increase or decrease in inventories of finished goods and work in progress

31 Dec. 2014

31 Dec. 2013

a

Ta

183,022,547.62

159,922

309,332.99

557

7,652.56

325

4,144,493.51

5,920

187,484,026.68

166,724

5.	 Cost of materials

71,148,970.87

64,379

6.	 Personnel expenses

41,093,753.27

37,410

7.	Amortization, depreciation, and write-downs of intangible assets and
property, plant, and equipment

13,343,529.76

11,909

8.	 Other operating expenses

39,193,885.72

34,511

164,780,139.62

148,209

48,500.00

300

10.	 Income from associated companies

333,000.00

338

11.	 Income from loans classified as fixed financial assets

343,441.59

427

-7,473,367.15

-6,339

306,377.72

548

-7,054,803.28

-5,822

15,649,083.78

12,693

15.	 Income taxes

4,339,370.75

3,463

16.	 Other taxes

1,198,590.91

999

5,537,961.66

4,462

10,111,122.12

8,231

-670,581.13

-596

-90,391.97

-256

9,350,149.02

7,379

3.	 Other own work capitalized
4.	 Other operating income

	
	
9.	 Income from equity investments

12.	 Interest result
13.	Write-downs of financial assets and marketable securities classified
as current assets

14.	 Result from ordinary business activities

17.	 Consolidated net profit
18.	 Profit attributable to minority interests
19.	 Withdrawal from/addition to other revenue reserves
20.	 Consolidated net retained profit

73

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Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Statement of changes in fixed assets 2014 – Part 1/2
Acquisition or production costs
1 Jan. 2014

Additions due to changes
to consolidation basis

Additions

Disposals

Currency conversion
difference

Reclassifications

31 Dec. 2014

a

a

a

a

a

a

a

1. Self-made industrial property rights and similar rights
and values

412,000.00

0.00

0.00

0.00

0.00

0.00

412,000.00

2. Purchased industrial property rights and similar rights
and values, and licenses for such rights and values

2,938,039.21

0.00

95,240.48

0.00

25.49

103,556.96

3,136,862.14

18,231,502.21

0.00

363,950.00

0.00

0.00

0.00

18,595,452.21

132,333.34

0.00

261,929.50

0.00

0.00

-103,556.96

290,705.88

21,713,874.76

0.00

721,119.98

0.00

25.49

0.00

22,435,020.23

275,621,249.38

0.00

2,216,352.70

4,440,628.96

0.00

16,200,959.60

289,597,932.72

	Land in the dock area (fixed value)

23,653,932.51

0.00

0.00

0.00

0.00

0.00

23,653,932.51

	 Road pavement

15,958,287.88

0.00

0.00

0.00

0.00

0.00

15,958,287.88

1,679,201.07

0.00

0.00

0.00

0.00

0.00

1,679,201.07

316,912,670.84

0.00

2,216,352.70

4,440,628.96

0.00

16,200,959.60

330,889,354.18

	 Port equipment

33,635,852.68

49,322.93

4,582,281.31

70,612.37

0.00

0.00

38,196,844.55

	 Port train facilities

26,349,922.50

0.00

3,528,019.57

490,000.00

0.00

22,068.37

29,410,010.44

59,985,775.18

49,322.93

8,110,300.88

560,612.37

0.00

22,068.37

67,606,854.99

3. Other equipment, operational and business equipment

9,889,874.17

122,854.24

1,563,508.06

152,504.73

-12,483.42

50,447.67

11,461,695.99

4. Advance payments made and assets under construction

17,755,819.79

0.00

3,169,060.37

67,574.67

0.00

-16,273,475.64

4,583,829.85

404,544,139.98

172,177.17

15,059,222.01

5,221,320.73

-12,483.42

0.00

414,541,735.01

989,971.44

-17,820.55

333,000.00

0.00

0.00

470,010.00

1,775,160.89

	 b) other

1,905,759.17

0.00

0.00

0.00

0.00

-470,010.00

1,435,749.17

2. Loans to companies in which investments are held

9,719,243.67

0.00

902,440.22

0.00

0.00

0.00

10,621,683.89

4,740.23

0.00

0.00

817.26

0.00

0.00

3,922.97

12,619,714.51

-17,820.55

1,235,491.20

817.26

0.00

0.00

13,836,516.92

438,877,729.25

154,356.62

17,015,782.21

5,222,137.99

-12,457.93

0.00

450,813,272.16

I. Intangible assets

3. Goodwill
4. Advance payments made
II. Property, plant, and equipment
1. Land and buildings
	 Land, business/administration/residential buildings

	Train bridges, public road bridges, and flood
protection facilities
2. Technical equipment and machinery

III. Financial assets
1. Investments
	 a) in associated companies

3. Other loans

75

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Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Statement of changes in fixed assets 2014 – Part 2/2
Accumulated amortization, depreciation, and write-downs

Net book values

1 Jan. 2014

Additions due to changes
to consolidation basis

Additions

Disposals

31 Dec. 2014

31 Dec. 2014

31 Dec. 2013

a

a

a

a

a

a

Ta

1. S elf-made industrial property rights and similar rights
and values

314,476.00

0.00

97,524.00

0.00

412,000.00

0.00

98

2. P
 urchased industrial property rights and similar rights
and values, and licenses for such rights and values

2,658,627.23

0.00

161,655.47

0.00

2,820,282.70

316,579.44

279

3. Goodwill

8,652,775.18

0.00

1,344,302.38

0.00

9,997,077.56

8,598,374.65

9,579

0.00

0.00

0.00

0.00

0.00

290,705.88

132

11,625,878.41

0.00

1,603,481.85

0.00

13,229,360.26

9,205,659.97

10,088

79,066,145.56

0.00

7,455,755.61

687,472.02

85,834,429.15

203,763,503.57

196,555

5,459,407.14

0.00

344,131.00

504.80

5,803,033.34

17,850,899.17

18,194

10,728,658.48

0.00

486,563.38

3,163.50

11,212,058.36

4,746,229.52

5,230

1,527,805.02

0.00

6,929.91

0.00

1,534,734.93

144,466.14

151

96,782,016.20

0.00

8,293,379.90

691,140.32

104,384,255.78

226,505,098.40

220,130

19,181,837.74

7,571.93

1,418,772.99

89,496.32

20,518,686.34

17,678,158.21

14,454

7,688,601.62

0.00

1,000,761.78

417,704.85

8,271,658.55

21,138,351.89

18,661

26,870,439.36

7,571.93

2,419,534.77

507,201.17

28,790,344.89

38,816,510.10

33,115

6,460,346.89

33,193.24

1,027,133.24

158,153.35

7,362,520.02

4,099,175.97

3,430

0.00

0.00

0.00

0.00

0.00

4,583,829.85

17,756

130,112,802.45

40,765.17

11,740,047.91

1,356,494.84

140,537,120.69

274,004,614.32

274,431

3,104.07

0.00

0.00

0.00

3,104.07

1,772,056.82

987

0.00

0.00

0.00

0.00

0.00

1,435,749.17

1,906

5,354,579.62

0.00

306,377.72

0.00

5,660,957.34

4,960,726.55

4,365

0.00

0.00

0.00

0.00

0.00

3,922.97

5

5,357,683.69

0.00

306,377.72

0.00

5,664,061.41

8,172,455.51

7,262

147,096,364.55

40,765.17

13,649,907.48

1,356,494.84

159,430,542.36

291,382,729.80

291,781

I. Intangible assets

4. Advance payments made
II. Property, plant, and equipment
1. L and and buildings
	 Land, business/administration/residential buildings
	Land in the dock area (fixed value)
	 Road pavement
	Train bridges, public road bridges, and flood
protection facilities
2. Technical equipment and machinery
	 Port equipment
	 Port train facilities
3. O ther equipment, operational and business equipment
4. Advance payments made and assets under construction
III. Financial assets
1. Investments
	 a) in associated companies
	 b) other
2. L oans to companies in which investments are held
3. Other loans

77

78

79

Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Statement of changes in shareholders’ equity 2014
Parent Company

Minority shareholders
Cumulative remaining
Group result

Cumulative remaining
Group result

Group equity

Cumulative remaining
Group result

Subscribed capital
(common stock)

Capital
reserve

Earned Group
equity

Equity difference from
currency conversion

Other neutral
transactions

Equity

Minority
capital

Other neutral
transactions

Equity

a

a

a

a

a

a

a

a

a

a

46,020,000.00

1,533,875.64

49,772,502.87

16,312.43

15,386,099.20

112,728,790.14

218,754.71

42,258.77

261,013.48

112,989,803,62

Changes to consolidation basis

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Other changes

0.00

0.00

0.00

3,337.97

-372.26

2,965.71

0.00

-40,000.00

-40,000.00

-37,034.29

0.00

0.00

0.00

3,337.97

-372.26

2,965.71

0.00

-40,000.00

-40,000.00

-37,034.29

Consolidated net profit

0.00

0.00

7,849,724.08

0.00

0.00

7,849,724.08

249,710.56

0.00

249,710.56

8,099,434.64

Dividend distribution

0.00

0.00

-7,500,000.00

0.00

0.00

-7,500,00.00

0.00

0.00

0.00

-7,500,000.00

Overall Group result

0.00

0.00

349,724.08

3,337.97

-372.26

352,689.79

249,710.56

-40,000.00

209,710.56

562,400.35

46,020,000.00

1,533,875.64

50,122,226.95

19,650.40

15,385,726.94

113,081,479.93

468,465.27

2,258.77

470,724.04

113,552,203.97

Changes to consolidation basis

0.00

0.00

0.00

0.00

-382,405.41

-382,405.81

0.00

251,854.83

251,854.83

-130,550.98

Other changes

0.00

0.00

0.00

-56,523.40

0.00

-56,523.40

0.00

0.00

0.00

-56,523.40

0.00

0.00

0.00

-56,523.40

-382,405.41

-438,929.21

0.00

251,854.83

251,854.83

-187,074.38

Consolidated net profit

0.00

0.00

7,634,899.05

0.00

0.00

7,634,899.05

596,594.23

0.00

596,594.23

8,231,493.28

Dividend distribution

0.00

0.00

-3,000,000.00

0.00

0.00

-3,000,000.00

0.00

0.00

0.00

-3,000,000.00

Overall Group result

0.00

0.00

4,634,899.05

-56,523.40

-382,405.81

4,195,969.84

596,594.23

251,854.83

848,449.06

5,044,418.90

46,020,000.00

1,533,875.64

54,757,126.00

-36,873.00

15,003,321.13

117,277,449.77

1,065,059.50

254,113.60

1,319,173.10

118,596,622.87

Changes to consolidation basis

0.00

0.00

0.00

0.00

-3,607,135.00

-3,607,135.00

0.00

3,607,135.00

3,607,135.00

0.00

Other changes

0.00

0.00

0.00

69,613.88

-358,850.46

-289,236.58

0.00

0.00

0.00

-289,236.58

0.00

0.00

0.00

69,613.88

-3,965,985.46

-3,896,371.58

0.00

3,607,135.00

3,607,135.00

-289,236.58

Consolidated net profit

0.00

0.00

9,440,540.99

0.00

0.00

9,440,540.99

670,581.13

0.00

670,581.13

10,111,112.12

Dividend distribution

0.00

0.00

-3,000,000.00

0.00

0.00

-3,000,000.00

0.00

0.00

0.00

-3,000,000.00

Overall Group result

0.00

0.00

6,440,540.99

69,613.88

-3,965,985.46

2,544,169.41

670,581.13

3,607,135.00

4,277,716.13

6,821,885.54

46,020,000.00

1,533,875.64

61,197,666.99

32,740.88

11,037,335.67

119,821,619.18

1,735,640.63

3,861,248.60

5,596 ,889.23

125,418,508.41

31 Dec. 2011

31 Dec. 2012

31 Dec. 2013

31 Dec. 2014

80

Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Consolidated cash flow statement 2014
	

2014

2013

2014

2013

Ta

Ta

Ta

Ta

-274

-247

0

4,665

153

297

103

479

3. 	 Cash flow from financing activities

1. 	 Operating activities
	

+/-	 Group result

10,111

8,231

	

+/-	 Other changes in equity

	

+	Depreciation/amortization of fixed assets and marketable
securities classified as current assets

13,650

12,456

	

+	

Grants received – not affecting net income

718

1,552

+	

Grants received – affecting net income

	

+/-	 Increase/decrease in long-term provisions

	

1

-294

-255

-/+	 Increase/decrease of receivables from approved grants

	

+/-	 Increase/decrease in deferred tax liabilities

	

24,185

21,984

-	

Distribution of dividends to shareholders

-3,000

-3,000

	

Cash flow 1

	
	

+	

Cash received from the issue of loans

10,516

45,386

-	

-332

-	

Cash repayments of loans

-20,224

-23,100

Profits from the disposal of fixed assets

-3,478

	

	

-	

-297

Cash flow from financing activities

-12,726

24,480

Grants recognized as income

-153

	

	
	

-	

Other non-cash income

248

-51

	

-/+ 	 Increase/decrease in receivables and other assets

-2,850

-7,504

+/-	 Increase/decrease in special item from ongoing business operations

-152

-152

-763

-11,101

	

+/-	 Increase/decrease of short-term provisions

5,440

-3,376

215

81

	
	

+/-	 Increase/decrease in liabilities

-101

6,447

	

Cash flow from operating activities

23,139

16,719

2. 	 Cash flow from investing activities
	

+	

Cash received from the disposal of intangible assets

	

+	

Cash received from the disposal of fixed assets

	

+	

Cash received from the disposal of financial assets

	

-	

Investments in fixed assets

	

-	Cash paid for the purchase of consolidated companies and
other business units less acquired net cash

	

-	

Cash paid for investments in intangible long-term assets

	

-	

Cash paid for investments in financial assets

	

-	Cash paid in connection with short-term financial management
of cash investments

	

+	Cash received in connection with short-term financial
management of cash investments

	

Cash flow from investing activities

0

28

6,539

1,597

86

156

-15,142

-48,423

163

-33

-721

-1,067

-1,388

-240

-14,959

-9,360

14,246

5,042

-11,176

-52,300

4. 	 Cash and cash equivalents at the end of the period
	

Change in cash and cash equivalents (subtotals 1–3)

	

Changes in cash and cash equivalents due to changes in the basis of consolidation

	
	

Cash and cash equivalents at the beginning of the period

5,752

16,772

	

Cash at the end of the period

5,862

6,088

	

Short-term liabilities to banks at the end of the period

-658

-336

	

Cash and cash equivalents at the end of the period

5,204

5,752

1

	Before offsetting asset value for partial retirement.

81

82

Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Balance sheet as at 31 Dec. 2014
Assets

31 Dec. 2014

31 Dec. 2013

a

a

31 Dec. 2014

31 Dec. 2013

a

a

46,020,000.00

46,020,000.00

1,533,875.64

1,533,875.64

37,404,661.43

33,026,093.30

		 2.	 Other revenue reserves

1,137,072.03

1,137,072.03

	 IV. 	 Net retained profit

9,350,149.02

7,378,568.13

95,445,758.12

89,095,609.10

19,500,972.60

19,500,972.60

5,454,074.00

5,158,091.00

636,227.30

653,988.52

19,967,270.22

18,140,695.31

26,057,571.52

23,952,774.83

100,986,455.52

108,348,436.75

		 2.	 Trade payables

1,484,650.60

1,503,013.38

		 3.	 Liabilities toward affiliated companies

3,573,430.21

3,879,893.39

126.38

104.72

24,285,432.95

23,675,273.79

130,330,095.66

137,406,722.03

376,636.39

578,073.05

271,711,034.29

270,534,151.61

Equity and liabilities

A.  Fixed assets

A.  Equity

	 I. 	 Intangible assets

	 I. 	 Subscribed capital

		 1.	Purchased industrial property rights and similar rights and values,
and licenses for such rights and values

225,797.60

167,797.42

40,949.88

88,300.84

266,747.48

256,098.26

63,477,999.37

65,142,673.71

		 2.	 Technical equipment and machinery

8,650,909.01

9,375,792.82

		 3.	 Other equipment, operational and business equipment

1,197,202.49

1,091,017.80

504,084.71

363,441.66

73,830,195.58

75,972,925.99

44,009,037.18

43,115,309.01

124,434,457.12

126,086,549.71

		 3.	 Investments

2,595,758.39

3,114,416.56

		 4.	Loans to companies in which investments are held

4,982,154.40

4,409,664.05

3,922.97

4,740.23

176,025,330.06

176,730,679.56

250,122,273.12

252,959,703.81

		 2.	Advance payments made
	 II. 	 Property, plant, and equipment
		 1.	 Land and buildings

		 4.	 Advance payments made and assets under construction
	 III. 	 Financial assets
		 1.	 Investments in affiliated companies	
		 2.	 Loans to affiliated companies

		 5.	 Other loans

B.  Current assets
	 I. 	 Stock
		 1.	 Raw materials, consumables, and supplies

7,249.60

5,392.95

49,376.46

11,332.74

56,626.06

16,725.69

133,631.55

264,416.84

8,718,976.68

4,503,458.62

11,801.64

12,965.74

886,711.61

967,992.34

9,751,121.48

5,748,833.54

	 III. 	 Current asset securities

10,073,336.07

9,360,210.00

	 IV. 	 Cash and bank balances

1,658,633.65

2,317,036.33

21,539,717.26

17,442,805.56

49,043.91

131,642.24

271,711,034.29

270,534,151.61

		 2.	 Unfinished services

	 II. 	 Capital reserves
	 III. 	 Revenue reserves
		 1.	 Legal reserve

B.  Special item with reserve portion pursuant to Section 6b EStG
C.  Provisions
		 1.	 Provisions for pensions
		 2.	 Tax provisions
		 3.	 Other provisions
D.  Liabilities
		 1.	 Liabilities to banks

		 4.	Liabilities to companies in which investments are held
		 5.	 Other liabilities
E.  Prepaid expenses

	 II. 	 Receivables and other assets
		 1.	 Claims from supplies and services
		 2.	 Receivables from affiliated companies
		 3.	 Receivables from companies in which investments are held
		 4.	 Other assets

C.  Prepaid expenses

83

84

Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Income statement 2014
31 Dec. 2014

31 Dec. 2013

a

a

30,531,648.21

33,559,789.42

38,043.72

11,332.74

8,268,620.63

9,109,901.70

38,838,312.56

42,681,023.86

1,479,705.54

1,370,390.96

13,612,399.83

13,119,243.60

2,930,337.13

2,918,371.12

19,006,837.23

20,935,578.47

37,029,279.73

38,343,584.15

10,598,687.41

6,462,353.00

7,207,853.92

6,237,862.32

-5,640,632.28

-5,274,058.46

306,377.72

547,047.63

11,859,531.33

6,879,109.23

13,668,564.16

11,216,548.94

3,696,168.40

3,254,355.26

622,246.74

583,625.55

4,318,415.14

3,837,980.81

15. 	 Net income

9,350,149.02

7,378,568.13

16.	 Profit carried forward

7,378,568.13

8,104,212.72

17. 	 Distribution of dividends to shareholders

3,000,000.00

3,000,000.00

18. 	 Addition to revenue reserves in the legal reserve

4,378,568.13

5,104,212.72

19.	 Net retained profit

9,350,149.02

7,378,568.13

	
1. 	 Revenue
2.	 Changes in stocks
3.	 Other operating income

4.	 Cost of materials
5.	 Personnel expenses
6. 	Amortization, depreciation, and write-downs of intangible assets and property,
plant, and equipment
7.	

Other operating expenses

8. 	 Income from equity investments
9. 	 Income from loans of financial assets
10.	 Interest result
11.	 Write-downs of financial assets and long-term investments

12.	 Result from ordinary business activities
13.	 Income taxes
14.	 Other taxes

85

86

Annual financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg – Participations as at 31 Dec. 2014
2.	 Associated companies

1. 	 Consolidation basis
Consolidation
status1

	

Name and registered office of company

	

Duisburger Hafen Aktiengesellschaft, Duisburg

Share in
capital
%

Equity
in 1,000 f

	

Name and registered office of company

	
	

Emballages Industriels Logistique Service SAS,
Illkirch-Graffenstaden/France

100

21,767

V

100

260

dfl duisport facility logistics GmbH, Duisburg2, 3

V

100

172

duisport rail GmbH, Duisburg2, 3

V

100

100

LOGPORT Logistic-Center Duisburg GmbH, Duisburg

V

100

113

dpl Chemnitz GmbH, Chemnitz2, 3

V

100

4,595

	

Grundstücksgesellschaft Südhafen mbH, Duisburg

V

100

859

	

Name and registered office of company

	

duisport consult GmbH, Duisburg

V

100

864

	

Antwerp Gateway N. V., Antwerp/Belgium

	

duisport packing logistics India Pvt. Ltd., Pune/India

V

76

123

duisport packing logistics GmbH, Duisburg2, 3

V

74.9

13,525

	

dpl Weinzierl Verpackungen GmbH, Sinzing (formerly: dpl Süd GmbH, Duisburg)

V

74.9

1,350

	

dpl International N. V., Antwerp/Belgium

V

74.9

164

	

duisport industrial packing service (Wuxi) Co., Ltd., Wuxi/China

V

74.9

-619

	

Hafen Duisburg-Amsterdam Beteiligungsgesellschaft mbH, Duisburg

V

66

76

	

Heavylift Terminal Duisburg GmbH, Duisburg

V

51

646

	

Holz Weinzierl Fertigungen GmbH & Co. KG, Sinzing

V

50 + 1 share

457

	

Weinzierl Beteiligungs-GmbH, Sinzing

N

50 + 1 share

33

	

Omnipack GmbH, Langerringen

V

50 + 1 share

27

V

50

349

V

50

17

V

50

337

V

50

526

	

Hafen Duisburg-Rheinhausen GmbH, Duisburg

	

duisport agency GmbH, Duisburg2, 3

	
	
	
	

	

	
	

Umschlag Terminal Marl GmbH & Co. KG, Marl

2, 3

V

4

Umschlag Terminal Marl Verwaltungs GmbH, Marl

4

	
	

Tarlog GmbH, Castrop-Rauxel

4

IPS Integrated Project Services GmbH, Duisburg

4

	

logport ruhr GmbH, Duisburg

Q

50

104

	

DuisPortAlliance GmbH, Duisburg

Q

50

96

1	

The companies marked with V are included in the consolidated financial statements in line with full consolidation.
	Companies marked with Q are included in the consolidated financial statements on a proportional basis.
The companies marked with N were shown in the balance sheet at acquisition costs pursuant to Section 311, Paragraph 2, HGB due to their minor importance.
2
	Control and profit/loss transfer agreement.
3
	The company utilizes the exemption provision of Section 264, Paragraph 3, HGB.
4
	Controlling influence exercised pursuant to Section 290, Paragraph 2, HGB.

	

DIT Duisburg Intermodal Terminal GmbH, Duisburg

	

Duisburg Trimodal Terminal GmbH, Duisburg

6

Consolidation
status5

Share in
capital
%

Equity
in 1,000 f

E

29

652

E

24

2,600

N

20

989

Share in
capital
%

Equity
in 1,000 f

7.5

-41,679

3.	 Other investments

5

	The companies marked with E are included in the consolidated financial statements at equity.
	 Shareholdings marked with N were entered at acquisition costs pursuant to Section 311, Paragraph 2, HGB due to their minor importance.
6
	Annual financial statements 2013.

87

88

Annual financial statements

Annual Report 2014

89

Duisburger Hafen Aktiengesellschaft, Duisburg – Statement of changes in fixed assets 2014
Acquisition or production costs

Accumulated amortization, depreciation, and write-downs

Net book values

1 Jan.2014

Additions

Disposals

Reclassifications

31 Dec.2014

1 Jan.2014

Additions

Disposals

31 Dec.2014

31 Dec.2014

31 Dec.2013

a

a

a

a

a

a

a

a

a

a

Ta

2,024,323.13

54,537.81

0.00

103,556.96

2,182,417.90

1,856,525.71

100,094.59

0.00

1,956,620.30

225,797.60

168

88,300.84

56,206.00

0.00

-103,556.96

40,949.88

0.00

0.00

0.00

0.00

40,949.88

88

2,112,623.97

110,743.81

0.00

0.00

2,223,367.78

1,856,525.71

100,094.59

0.00

1,956,620.30

266,747.48

256

104,024,575.53

96,156.13

0.00

61,706.50

104,182,438.16

55,118,585.14

1,596,335.68

0.00

56,714,920.82

47,467,517.34

48,906

	 Land in the dock area (fixed value)

16,838,816.15

0.00

0.00

0.00

16,838,816.15

2,921,166.59

0.00

0.00

2,921,166.59

13,917,649.56

13,918

	 Road pavement

11,015,700.58

0.00

0.00

0.00

11,015,700.58

8,731,163.64

222,758.38

0.00

8,953,922.02

2,061,778.56

2,285

1,537,036.84

0.00

0.00

0.00

1,537,036.84

1,502,540.02

3,442.91

0.00

1,505,982.93

31,053.91

34

19,164,394.84

0.00

70,612.37

0.00

19,093,782.47

14,403,250.84

599,671.99

70,612.37

14,932,310.46

4,161,472.01

4,761

	 Port train facilities

7,364,092.06

0.00

0.00

0.00

7,364,092.06

2,749,443.24

125,211.82

0.00

2,874,655.06

4,489,437.00

4,615

3.	O ther equipment, operational and
business equipment

5,082,829.13

338,558.78

49,134.80

50,447.67

5,422,700.78

3,991,811.33

282,821.76

49,134.80

4,225,498.29

1,197,202.49

1,091

363,441.66

325,741.71

72,944.49

-112,154.17

504,084.71

0.00

0.00

0.00

0.00

504,084.71

363

165,390,886.79

760,456.62

192,691.66

0.00

165,958,651.75

89,417,960.80

2,830,242.54

119,747.17

92,128,456.17

73,830,195.58

75,973

43,115,309.01

375,070.00

0.00

518,658.17

44,009,037.18

0.00

0.00

0.00

0.00

44,009,038.18

43,115

126,086,549.71

250,000.00

1,902,092.59

0.00

124,434,457.12

0.00

0.00

0.00

0.00

124,434,457.12

126,087

3.	 Investments

3,114,416.56

0.00

0.00

-518,658.17

2,595,758.39

0.00

0.00

0.00

0.00

2,595,758.39

3,114

4.	Loans to companies in which
investments are held

9,764,243.67

878,868.07

0.00

0.00

10,643,111.74

5,354,579.62

306,377.72

0.00

5,660,957.34

4,982,154.40

4,410

4,740.23

0.00

817.26

0.00

3,922.97

0.00

0.00

0.00

0.00

3,922.97

5

182,085,259.18

1,503,938.07

1,902,909.85

0.00

181,686,287.40

5,354,579.62

306,377.72

0.00

5,660,957.34

176,025,330.06

176,731

349,588,769.94

2,375,138.50

2,095,601.51

0.00

349,868,306.93

96,629,066.13

3,236,714.85

119,747.17

99,746,033.81

250,122,273.12

252,960

I. Intangible assets
1.	Purchased industrial property rights and similar
rights and values, and licenses for such rights
and values
2. 	Advance payments made
II. Property, plant, and equipment
1. Land and buildings
	Land, business/administration/
residential buildings

	Train bridges, public road bridges, and
flood protection facilities
2.	 Technical equipment and machinery
	 Port equipment

4.	Advance payments made and assets
under construction
III. Financial assets
1.	 Investments in affiliated companies
2.	Loans to affiliated companies

5.	 Other loans

90

Consolidated notes and notes on the financial statements

Annual Report 2014

Duisburger Hafen Aktiengesellschaft, Duisburg –
2014 Notes
I. Consolidation basis

Pursuant to Section 290 of the German Commercial
Code (HGB – Handelsgesetzbuch), together with its
subsidiaries Duisburger Hafen AG has drawn up consolidated financial statements and a consolidated
management report for 31 December 2014. The consolidated financial statements have been drawn up
in accordance with the accounting regulations laid
down in the HGB.
As the parent company, Duisburger Hafen AG has
exercised its right pursuant to Section 298, Paragraph
3, HGB to combine the notes on its individual financial statements with the notes on the consolidated
financial statements.
To improve clarity, various individual items have been
combined in the income statement and balance
sheet. These items are shown separately in the Notes.
The income statement has been drawn up according
to the total cost method.

The consolidated and annual financial statements
have been drawn up in accordance with the HGB in
the version as amended by the German Accounting
Law Modernization Act (BilMoG – Bilanzrechtsmodernisierungsgesetz) dated 25 May 2009.
As at 31 December 2014, the consolidated financial
statements included Duisburger Hafen AG plus a
total of 22 (2013: 20) fully consolidated subsidiaries
and two proportionately consolidated subsidiaries
(2013: three).
Duisburger Hafen AG is included in the consolidated
financial statement for Beteiligungsverwaltungsgesellschaft des Landes Nordrhein-Westfalen mbH,
Düsseldorf.

Capital
share
%

Equity
capital
in 1,000 f

Hafen Duisburg-Rheinhausen GmbH, Duisburg (HDR)

100

21,767

duisport agency GmbH, Duisburg (dpa)

100

260

dfl duisport facility logistics GmbH, Duisburg (dfl)

100

172

duisport rail GmbH, Duisburg (dpr)

100

100

duisport packing logistics GmbH, Duisburg (dpl GmbH)

74.9

13,525

dpl Chemnitz GmbH, Chemnitz (dpl Chemnitz)

100

4,595

dpl International N.V., Antwerp/Belgium (dpl International)

74.9

178

dpl Weinzierl Verpackungen GmbH, Sinzing (formerly: dpl Süd GmbH, Duisburg) (dpl WZ)

74.9

1,360

Weinzierl Beteiligungs-GmbH Sinzing (Weinzierl Beteiligung)

50 + 1 share

33

Holz Weinzierl Fertigungen GmbH & Co. KG Sinzing (HWF)

50 + 1 share

457

Omnipack GmbH, Langerringen (Omnipack)

50 + 1 share

27

74.9

-582

76

123

LOGPORT Logistic-Center Duisburg GmbH, Duisburg (LOGPORT)

100

113

Grundstücksgesellschaft Südhafen mbH, Duisburg (Südhafen)

100

859

duisport consult GmbH, Duisburg (dpc)

100

864

Hafen Duisburg-Amsterdam Beteiligungsgesellschaft mbH, Duisburg (HDA)

66

76

Heavylift Terminal Duisburg GmbH, Duisburg (HTD)

51

646

50

363

50

17

50

534

50

338

logport ruhr GmbH, Duisburg (lpr)

50

104

DuisPortAlliance GmbH, Duisburg (DP Alliance)

50

96

DIT Duisburg Intermodal Terminal GmbH, Duisburg (DIT) 2

24

2,600

E.I.L.S. Emballages Industriels Logistique Service SAS,
Illkirch-Graffenstaden/France (EILS)

29

652

Company
Fully consolidated companies

duisport industrial packing service (Wuxi) Co. Ltd., Wuxi/China (dpl China)
duisport packing logistics India Pvt Ltd, Pune/India (dpl India)

Umschlag Terminal Marl GmbH & Co. KG, Marl (UTM GmbH & Co. KG)
Umschlag Terminal Marl Verwaltungs-GmbH, Marl (UTM Verw.)
IPS Integrated Project Services GmbH, Duisburg (IPS)
Tarlog GmbH, Castrop-Rauxel (Tarlog)

1

1

1

1

Companies included on a proportionate basis

Companies included at equity

1
2

	Controlling influence exercised pursuant to Section 290, Paragraph 2, HGB.
	Annual financial statements 2013.

91

92

Consolidated notes and notes on the financial statements

Annual Report 2014

Pursuant to Section 285, Sentence 11, HGB and Section 313, Paragraph 2, HGB, a list of all the Group’s
holdings is given in Annex C of the Notes and is published in the electronic version of the Federal Gazette
(Bundesanzeiger).
Duisport holds 29% of the shares in E.I.L.S. Emballages
Industriels Logistique Service SAS, Illkirch-Graffenstaden, France. The company is included at equity in the
consolidated financial statements. In terms of Section 312, Paragraph 1, HGB, the difference between
the book value of participation and the pro rata
equity capital amounts to 99,000 euros.
The difference pursuant to Section 312, Paragraph 1,
HGB, of the amount of the company DIT Duisburg
Intermodal Terminal GmbH that is included in the
consolidated balance sheet at equity is 105,000 euros.
The company IPS Integrated Project Services GmbH
was fully consolidated in the consolidated financial
statements for the first time in financial year 2014.
With the agreement dated 18 December 2013, Duisburger Hafen AG acquired additional shares in the
companies Holz Weinzierl Fertigungen GmbH & Co.
KG, Omnipack GmbH, Weinzierl Beteiligungs-GmbH,
and Weinzierl Verpackungen GmbH as part of a circular swap. In return, shares were given to duisport
packing logistics GmbH. With the agreement dated
24 June 2014, Weinzierl Verpackungen GmbH was
also merged with dpl Süd GmbH. The company is
now known as dpl Weinzierl Verpackungen GmbH
with headquarters in Sinzing.
As a result of the share increase, Omnipack GmbH,
which was included in the consolidated financial
statements at equity last year, was fully consolidated
in the consolidated financial statements for the first
time in financial year 2014.

Via HDA, Duisburger Hafen AG has a 20% indirect
holding in Masslog GmbH, Duisburg. In addition,
Duisburger Hafen AG has a 7.5% share in Antwerp
Gateway N.V., Antwerp, Belgium (Antwerp Gateway).
Duisburger Hafen AG does not exercise any significant influence over these minority holdings.

the applicable asset item. Any remaining difference
was capitalized as positive goodwill and amortized
over its expected useful life.

item with reserve portion as well as the tax-related
special write-down pursuant to Section 6b EStG were
eliminated in the consolidated financial statements.

The same principles are applied when consolidating
joint ventures.

Pursuant to Section 312 HGB, one German company
on whose financial and business policies duisport
could exercise a significant influence, given that it
holds between 20% and 50% of the voting rights, was
not included in the consolidated financial statements
due to its minimal importance.

The positive goodwill from the initial consolidation of
UTM GmbH & Co. KG in 2010, amounting to 33,000
euros, is being amortized over a period of five years.

Deferred tax liabilities were formed in relation to consolidation entries leading to differences between the
accounting valuations of assets, debts, and accruals/
deferrals as well as their valuations for tax purposes.
These were calculated on the basis of a consolidated
tax rate of 33%.

Since 20 December 2012, Hafen Duisburg-Rheinhausen GmbH has held 99.9% of the shares of
MOLANKA Vermietungsgesellschaft mbH & Co.
Objekt Duisport KG, Düsseldorf. This is a special purpose entity that is not included in the consolidated
financial statement of duisport, as neither the conditions pursuant to Section 290, Paragraph 1, HGB in
conjunction with Paragraph 2, sentences 1 to 3, HGB
nor with Sentence 4 HGB apply.

II. Consolidation principles
The capital consolidation of subsidiaries and purchased capital shares initially consolidated prior to 1
January 2010 has been done on the basis of the book
value method, applying the valuations made at the
time of the initial inclusion of the subsidiary in the
consolidated financial statements. Pursuant to Section 309, Paragraph 1, Sentence 3, HGB (old version),
any positive goodwill was offset against retained
earnings.
The capital consolidation for companies or purchased
capital shares initially consolidated after 1 January
2010 took place on the date of acquisition on the basis
of the revaluation method. To the greatest extent
possible, amounts to be capitalized were assigned to

The initial consolidation of dpl Weinzierl Verpackungen GmbH (formerly Weinzierl Verpackungen GmbH)
in 2013 resulted in positive goodwill in the amount of
549,000 euros, and the initial consolidation of Holz
Weinzerl Fertigungen GmbH & Co. KG resulted in
positive goodwill of 791,000 euros. The initial consolidation of duisport packing logistics India Pvt Ltd. in
2013 resulted in an additional difference of 66,000
euros. The amounts will be amortized over a period
of five years.
Negative goodwill from the capital consolidation is
recognized separately in equity. The 68,000 euros in
negative goodwill recognized in equity in 2008 after
the acquisition of dpl International was offset in 2009
against the purchase price payment of 63,000 euros,
leaving remaining negative goodwill of 5,000 euros.
The negative equity from the initial consolidation of
UTM Verwaltungs GmbH amounts to 1,000 euros.
The initial consolidation of Omnipack GmbH in 2014
resulted in negative goodwill of 15,000 euros.
Revenues, expenses, and income as well as existing
receivables and payables between consolidated subsidiaries are eliminated in the consolidated financial
statements. Interim results from intra-Group trade
receivables did not materialize in the reporting
period.
Pursuant to Section 6b of the German Income Tax
Act (EStG – Einkommensteuergesetz), the special tax

A corresponding adjustment for the interests of other
shareholders was formed with respect to shares in
the net assets and net results of the consolidated
subsidiaries HDA, HTD, UTM GmbH & Co. KG, UTM
Verw., Tarlog, dpl India, dpl, dpl WZ Verp., Omnipack,
IPS, and HWF, which are not imputable to the parent company or another consolidated company. This
item is included among the consolidation measures
affecting net income as a matter of principle.
The net retained earnings shown in the consolidated
financial statements is identical to that in the parent
company’s individual annual financial statements. To
this end, the subsidiaries’ balance sheet results and
other consolidation measures were offset against the
Group’s retained earnings, a process yielding a reduction in consolidated other reserves in the financial
year totaling 90,000 euros.

III. Accounting and valuation methods
The financial statements to be consolidated, namely
those of the parent company Duisburger Hafen AG
and the various consolidated subsidiaries, are drawn
up according to uniform accounting and valuation
rules. During the annual audit, the individual annual
financial statements of the fully consolidated domestic companies were audited, with the exception of
the micro companies LOGPORT and DP Alliance, and
received unqualified audit opinions.

93

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Consolidated notes and notes on the financial statements

Annual Report 2014

Intangible assets and property, plant, and equipment are valued at their costs of acquisition or production costs less scheduled write-down and amortization and impairment losses. Investment grants
received are taken into account by reducing the
acquisition or production costs of the asset in question by the amount of the grant.
Self-made intangible fixed assets are shown at their
production costs pursuant to Section 255, Paragraph
2, sentences 1 and 2, and Paragraph 2a, HGB and subjected to scheduled straight-line amortization over
their expected useful lives or to impairments in the
event of loss of value that is expected to be permanent.
The goodwill resulting from the acquisition of a business through an asset deal is subjected to scheduled
straight-line amortizations over a period of 15 years
on the basis of an assessment of the likely duration of
the business relationships entered into. The goodwill
from the initial consolidation of the UTM companies,
the Weinzierl companies, and dpl India is being amortized over a five-year period. Other intangible assets
are also amortized over a five-year period.
Scheduled amortization is carried out on a straightline basis over the expected useful lives of the assets
in question. In addition, pursuant to Section 6b EStG,
reclassifications were made in the individual financial
statements for previous years which, in so far as they
relate to land, are shown as liabilities in the special
item with the reserve portion and are reduced on the
asset side in the case of buildings. Pursuant to Section 6b EStG, the special item with the reserve portion and the tax write-downs are eliminated in the
consolidated financial statements.
Low-value assets with a net individual value of 150
euros or less are recorded as expenses in their year of
acquisition. An annual asset item is formed for assets
with a net individual value between 150 euros and

1,000 euros, which is then subjected to straight-line
write-down over a period of five years.
The size and value of the dock and its bank reinforcements and also of the port railway superstructure, as
well as the associated dock buildings and facilities on
the right bank of the Rhine, are subject to minimal
change and are therefore carried at fixed values.
Interest-bearing loans are shown at their nominal
values less individual value adjustments. The loans to
affiliated companies include loans with a term of over
five years.
The other financial assets are valued at their costs of
acquisition, duly observing the lower value principle
in the case of continuing write-down. Furthermore,
the company is exercising its right of choice pursuant to Section 253, Paragraph 3, Sentence 4, HGB by
applying unplanned write-downs, even in the case of
write-downs not expected to be continuous.
In order to meet our obligations to protect assets
covering part-time retirement claims, corresponding
amounts have been allocated to special funds. These
funds are ring-fenced against other creditors’ claims.
The funds are valued at their fair market values; these
values are then offset against the value of the underlying obligations. If the obligations exceed the value
of the funds, the excess amount will be covered by
the provisions. If the value of the securities exceeds
these obligations, this will be recognized as a balance
sheet asset item under the heading Excess of plan
assets over pension liabilities.
Raw materials, auxiliary materials, and consumables
are valued at average acquisition or production costs,
duly observing the lower-value principle. Finished
goods and works in progress relate to commenced
orders in the spheres of packaging services and project management. Pursuant to Section 255, Paragraph
2, HGB, they are carried at their production costs. The

production costs include individual costs plus reasonable proportions of the material and production
overheads and also of the write-down of fixed assets
where this is caused by the production process.
Receivables, other assets, cash, and cash equivalents
are carried at their nominal values. All discernible
individual risks in relation to these items, as well as
the general credit risk as assessed empirically on the
basis of past experience, are accounted for through
suitable write-downs.
Current asset securities were valued at either their
costs of acquisition or lower values as determined by
stock exchange or market prices.
Prepaid expenses include expenses incurred before
the closing date in so far as they represent expenditures relating to a specific date/period after that
date. Additionally, differences between repayment
amounts and available amounts (discount) are
treated as accrued items and released over the term
of the loan.
Pursuant to Section 253, Paragraph 2, Sentence 2,
HGB, provisions for pension obligations and comparable obligations with long-term maturities are discounted to present-day value at the average market
interest rate for the past seven years as determined
by the Deutsche Bundesbank, given an assumed
residual term of 15 years.
The pension obligations were calculated according to
the projected unit credit method, applying actuarial
principles and an interest rate of 4.58% (2013: 4.88%)
per annum on the basis of Professor Klaus Heubeck’s
2005 G mortality tables. Anticipated salary increases
of 2.5% and 1.0%, and pension increases of 2.0% per
annum were taken into account.
The part-time retirement provision was calculated according to actuarial principles, applying an

assumed interest rate of 4.58% (2013: 4.89%). The
provision also covers the obligation to pay additional
amounts in this respect.
The tax provisions and remaining other provisions
are set up to cover the probable settlement amount
in our reasonable commercial judgment and taking into account anticipated losses from impending
business transactions. In evaluating said settlement
amount, rising costs are taken into account. The
other provisions with a term of over one year are discounted to present-day value at the interest rates
suitable for their term as published by the Deutsche
Bundesbank. In exercising our right of choice as laid
down in Article 67, Paragraph 3 of the Introductory
Act to the German Commercial Code (EGHGB – Einführungsgesetz zum Handelsgesetzbuch), pursuant to Section 249, Paragraph 2, HGB, in the version
in force until 28 May 2008, as at 31 December 2014
provisions totaling 7,561,000 euros were retained (of
which, 1,413,000 euros was for Duisburger Hafen AG)
(expense provisions).
All liabilities are recognized at their settlement
amounts.
Prepaid expenses include expenses incurred before
the closing date in so far as they represent expenditure relating to a specific date/period after that date.
Deferred taxes are calculated in respect of temporary differences between the accounting and tax
valuations of assets, debts, and accruals/deferrals.
This includes not only the differences arising from
Duisburger Hafen AG’s own balance sheet items but
also those of the Group subsidiaries and partnerships
in which Duisburger Hafen AG has participations.
In addition to these temporary accounting differences, tax-loss carryovers are also taken into account.
Thereby differences arising from consolidation activities in accordance with sections 300 to 307 HGB but
not differences relating to the initial recognition of

95

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Consolidated notes and notes on the financial statements

Annual Report 2014

positive or negative goodwill arising from the capital
consolidation are taken into account.
The deferred taxes were calculated on the basis of
a current consolidated income tax rate of 33% for
the Duisburger Hafen AG Group of companies. This
combined rate for taxes on income covers corporation tax, business tax, and the solidarity surcharge.
However, contrary to the above provision, deferred
taxes in relation to temporary accounting differences
regarding participating interests in partnerships are
calculated on the basis of a combined rate for taxes
on income that only comprises corporation tax and
the solidarity surcharge, and this currently amounts
to about 16%. The resultant total tax burden is carried on the balance sheet as a deferred tax liability.
In exercise of the existing valuation option in this
respect, any tax relief accruing due to differences
between the respective annual financial statements
of the consolidated companies will not be carried as
an asset item.
Derivative financial instruments are employed exclusively in order to reduce risk. They are used strictly in
line with the corresponding Group code of practice.
They are valued individually at their market values
on the closing date. If the relevant requirements for
forming valuation units are generally met, the hedging transaction and the underlying transaction are
combined to form a single valuation unit, the hedge.
In cases where either the “net hedge presentation
method,” in which the countervailing changes in
value resulting from hedging the risk are not shown
on the balance sheet, or the “gross hedge presentation method,” whereby the countervailing changes
in value of both the underlying transaction and the
hedging instrument resulting from hedging the
risk are shown on the balance sheet, could be used,
we have elected to use the net hedge presentation
method. The recorded countervailing positive and
negative changes have no impact on the income
statement.
 

IV. Currency conversion
With the exception of the equity capital (subscribed
capital, reserves, profit/loss carryovers at historic
rates), asset and liability items in annual financial
statements drawn up in foreign currencies are converted into euros at the mean spot exchange rate on
the closing date for those statements. Income statement items are converted into euros at the average
exchange rate. Any resultant conversion difference is
shown in the statement of Group equity table after
the reserves under the item “Equity difference from
currency conversion.”

2a. Claims and other assets – Group
1,000 f

31 Dec. 2014

31 Dec. 2013

27,321

24,987

Investments

12

13

Other assets

2,464

2,470

29,797

27,470

31 Dec. 2014

31 Dec. 2013

Supplies and services

133

264

Affiliated companies

8,719

4,504

Investments

12

13

Other assets

887

968

9,751

5,749

Supplies and services

Total

Of the trade receivables, 940,000 euros have a residual term of more than one year (2013: 0 euros).

2b. Claims and other assets – AG

V. Notes on the financial statements
1. Fixed assets
Movements in the Group’s and parent company’s
fixed assets are shown in their respective statements
of changes in fixed assets.

1,000 f

Total

Development costs for self-made intangible assets
within the Group amounting to 0 euros have been capitalized as of the effective date (2013: 98,000 euros).
As in the previous year, all receivables are due within
one year.
There are no restrictions of title or control with
respect to the receivables shown above. Specific
value adjustments amounting to 155,000 euros (2013:
194,000 euros) have been taken into account.
A total of 7,429,000 euros of the receivables from affiliated companies exists from cash-pooling arrangements with various subsidiaries and 1,270,000 euros
from the company’s trading transactions. These
amounts were partially offset against liabilities
within the framework of balance settlement.

3. Current asset securities – Group and AG
The current assets securities totaling 10,073,000
euros comprise bond securities. In the financial year,
there was no write-down on the market value of the
securities (2013: 137,000 euros).

4. Prepaid expenses – Group
The Group’s prepaid expenses include discounts
on loans taken out between 2000 and 2007 by
Hafen Duisburg-Rheinhausen GmbH amounting to
135,000 euros (2013: 158,000 euros).

97

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Consolidated notes and notes on the financial statements

Annual Report 2014

5. Deferred taxes pursuant to Section
274 HGB – Group and AG
For Duisburger Hafen AG, deferred tax assets result
from differences between the accounting valuations
of financial assets, pension provisions, and other provisions and their valuations for tax purposes. These
are determined in principle by applying a tax rate of
33%. However, in exercising its option under Section
274 HGB, duisport has not capitalized any deferred
tax assets.
The application of Section 274 HGB leads to deferred
tax assets being carried in the consolidated financial
statements that derive from differences between the
Group’s accounting and tax valuations of property,
plant, and equipment, financial assets, pension provisions, and other provisions and to deferred tax liabilities from the recognition of self-made intangible
assets by a subsidiary. These deferred taxes are also
calculated on the basis of a 33% tax rate.

of the consolidated companies will not be carried as
an asset item.

6. Excess of plan assets over pension liabilities –
Group and AG

The associated expenses and income, which when
taken together are of minor importance, have also
been offset.

In 2014, Duisburger Hafen AG has paid out dividends
to shareholders for the financial year 2013, which
amounted to 3,000,000 euros.

7. Equity and liabilities – Group and AG

This excess amount results from netting out, pursuant to Section 298, Paragraph 1, in conjunction with
Section 246, Paragraph 2, Sentence 2, HGB, as well as
pension liabilities and assets that serve the sole purpose of covering those liabilities and that have been
ring-fenced against all other creditors’ claims. The
assets in question are negotiable securities.
Details of the offsetting pursuant to Section 298, Paragraph 1, in conjunction with Section 246, Paragraph
2, Sentence 2, HGB:

The Group’s net retained earnings correspond with
those of the parent company.

The subscribed capital of 46,020,000 euros and the
Group’s capital reserve of 1,534,000 euros correspond
with items on the parent company’s balance sheet.
The consolidated retained earnings comprise the
retained earnings of both the parent company and
the affiliated companies included in the Group as
well as their net retained earnings. The equity also
includes amounts yielded by offsetting other consolidation activities.

Portions of the otherwise freely available equity capital shown in duisport’s individual annual financial
statements are subject to the dividend distribution
restriction laid down in Section 268, Paragraph 8,
Sentence 3, HGB. Since the option of capitalizing the
deferred tax asset was not exercised, the amounts
subject to this restriction are carried as assets without including the deferred taxes.

1,000 f

Description

In exercising the existing valuation option in this
respect, any tax relief accruing due to differences
between the respective annual financial statements

Positive balance from the attributable current value of the assets to be offset pursuant to
Section 246, Paragraph 2, Sentence 2, HGB less the original costs of acquisition

150

Amount blocked for dividend distribution restriction pursuant to Section 268, Paragraph 8, HGB

150

8. Special item with reserve portion – Group and AG
1,000 f

Group

AG

Payment arrears for pension obligations according to expert opinions

558

558

Attributable current value of plan assets

837

558

Acquisition costs of plan assets

630

408

Value that can be offset pursuant to Section 246 II HGB

558

558

Excess of plan assets over pension liabilities

279

0

Group
31 Dec. 2014

Group
31 Dec. 2013

AG
31 Dec. 2014

AG
31 Dec. 2013

0

0

19,501

19,501

Special item for investment grants
to Fixed assets

24

177

0

0

Total

24

177

19,501

19,501

1,000 f
Tax-related value adjustments in terms
of Section 6b, Paragraph 1, EStG

99

100

Consolidated notes and notes on the financial statements

Annual Report 2014

In its individual annual financial statements, the company exercised the option of retaining the special tax
item with the reserve portion pursuant to Article 67,
Paragraph 3, Sentence 1, EGHGB. These special items
are carried as liabilities on the Duisburger Hafen AG
balance sheet. In the consolidated financial statements, they are eliminated. The special item for
fixed-asset investment grants was formed in 2010 by
dpl GmbH.

9. Tax provisions – Group and AG
The tax provisions mainly relate to corporation tax
and trade tax for the 2014 financial year.

10. Other provisions – Group and AG
The other provisions chiefly concern uncertain liabilities toward third parties and neglected maintenance
work. Provisions for personnel expenses relate to
such items as part-time retirement (taking account
of plan assets), profit-related bonuses, allowances,
obligations for leave not taken, anniversary gratuities, and similar commitments. The provision for parttime retirement obligations has been formed exclusively for the parent company’s own employees and
personnel currently employed by subsidiaries. The
other provisions cover a wide variety of discernible
individual risks.

11. Liabilities – Group and AG
As at the closing date, the Group’s liabilities to banks
amounted to 117 million euros. Of this, 3.9 million euros
is secured through the registration of corresponding
land charges against Hafen Duisburg-Rheinhausen
GmbH’s real estate. Further security was furnished by
Duisburger Hafen AG in the form of equal treatment
undertakings and negative pledges, and Hafen Duisburg-Rheinhausen GmbH’s loss compensation claims
from the intercompany agreement with Duisburger
Hafen AG were also assigned. Besides this, undertakings were also given that the Group would maintain
specific balance sheet ratios.
The other liabilities chiefly comprise three loans
amounting to 21,888,000 euros made by nonbanks
as well as the associated deferred interest liability of
175,000 euros. As security for the loans, equal treatment undertakings and negative pledges were made
as well as undertakings to maintain specific balance
sheet ratios. The principal social security liabilities
comprise amounts yet to be remitted to social insurance institutions.
A total of 7,691,000 euros of liabilities from affiliated
companies exists from cash pooling arrangements
with various subsidiaries and –4,118,000 euros from
the company’s trading transactions. These amounts
were partially offset against receivables within the
framework of balance settlement.

101

11a. Liabilities – Group

31 Dec. 2014

Residual
period less
than 1 year

Remaining
term over
5 years

Credit institutions

117,120

8,447

Advances received

420

420

1,000 f

Supplies/services
Other liabilities
(thereof for taxes)
(thereof for social security)
Total

31 Dec. 2013

Residual
period less
than 1 year

Remaining
term over
5 years

51,219

126,724

32,058

56,342

0

485

485

0

8,223

8,223

0

9,790

9,790

0

29,928

5,709

0

28,094

6,073

10

(764)

(764)

(0)

(630)

(630)

(0)

(1)

(1)

(0)

(12)

(12)

(0)

155,691

22,799

51,219

165,093

48,406

56,352

Remaining
term over
5 years

11b. Liabilities – AG

1,000 f

31 Dec. 2014

Residual
period less
than 1 year

Remaining
term over
5 years

31 Dec. 2013

Residual
period less
than 1 year

100,986

6,746

44,082

108,348

29,470

47,347

Supplies/services

1,485

1,485

0

1,503

1,503

0

Affiliated companies

3,573

3,573

0

3,880

3,880

0

24,286

2,242

0

23,676

1,725

0

(250)

(250)

(0)

(293)

(293)

(0)

(5)

(5)

(0)

(11)

(10)

(0)

130,330

14,046

44,082

137,407

36,578

47,347

Credit institutions

Other liabilities
(thereof for taxes)
(thereof for social security)
Total

102

Consolidated notes and notes on the financial statements

Annual Report 2014

12. Deferred taxes from consolidation
measures – Group
Consolidation measures led to deferred tax liabilities arising from the elimination of tax valuations in
the consolidated financial statements. Deferred tax
assets arise from the elimination of intercompany
profits and losses. Pursuant to Section 306 HGB,
deferred tax liabilities totaling 13,618,000 euros,
accruing from the elimination of tax valuations, were
offset against the deferred tax assets of 647,000
euros arising from the elimination of intercompany
profits and losses. Deferred taxes were calculated on
the basis of a 33% tax rate (2013: 33%).

Contingent liabilities and other financial obligations
Duisburger Hafen AG has furnished various licensing authorities with directly enforceable guarantees
amounting to 62.2 million euros in favor of Hafen
Duisburg-Rheinhausen GmbH, the purpose of which
is to serve as security for grant repayment obligations. In view of Hafen Duisburg-Rheinhausen’s
improved net assets, financial position, and results
of operations, the risk of any call on these repayment
obligation guarantees is regarded as low.

antee amounting to 65,000 euros in favor of a service
provider in connection with a rental transaction. We
regard the risk of a possible call on this guarantee to
be low.
Duisburger Hafen AG issued a guarantee for its subsidiary duisport industrial packing service (Wuxi)
Co. Ltd., China, in the amount of 8 million renminbi
(approx. 1.1 million euros).
Duisburger Hafen AG has also undertaken to furnish
Hafen Duisburg-Rheinhausen GmbH at any time with
the liquidity it needs to meet its liabilities. We regard
the risk of a possible call on this obligation to be low.
A contingent liability in the amount of approximately
200,000 euros resulted from the acquisition of a participation.
The Group’s commitments from investment-related
and non-investment-related activities total 5.7 million euros, of which 0.4 million euros relates to the
parent company.
As at the closing date, the Group’s real estate was
subject to the following encumbrances:

Duisburger Hafen AG has acted as guarantor for the
subsidiary duisport rail GmbH and has issued a guar-

Encumbrances – Group
Of which AG

Square meters

Land
affected
in %

Square meters

Leasehold rights, leases of port operators

1,259,125

13.7

999,813

Easements and servitudes
(e.g. operation of pipelines and wells)

1,373,890

15.0

652,952

Rights of way and other rights

1,114,591

12.2

710,182

Total

3,747,606

40.9

2,356,947

The Group’s other financial liabilities nominally
amount to 8,383,000 euros. Other financial liabilities of the AG amount to 3,427,000 euros. Of this,
2,481,000 euros relate to non-Group companies and
946,000 euros to Group companies.
duisport is a member of the Rheinische Zusatzversorgungskasse (RZVK) with headquarters in Cologne.
It is the task of the RZVK supplementary old-age
provision to provide supplementary old-age, reduction-in-earning-capacity, and survivors’ benefits in
the form of a contribution-oriented benefit plan for
the employees of its members. The amount of the
occupational pension is based on the annual compensation and the age of the employee.
In 2014, the contribution rate was 4.25% of compensation subject to additional pension provisions. The percentage of the recapitalization charge (for financing
the claims and entitlements emanating from before 1
January 2002) was 3.5%. In the 2014 financial year, the
total remuneration subject to supplementary pension payments of duisport employees amounted to
8.3 million euros.
This obligation relates to an indirect pension obligation for which no provision was made in terms of
Article 28, Paragraph 1, Sentence 2 of the Introductory
Act to the German Commercial Code (EGHGB). Pursuant to Section 15a of the Articles of Association of
RZVK, the compensation amount for duisport totaled
22.9 mil­lion euros as at 31 December 2014. This
involves a contingent liability that Duisburger Hafen
AG would only have to bear if the company terminated its membership of RZVK.

Off-balance-sheet transactions
In order to obtain liquidity for the financing of future
investment projects, HDR has sold logistics real
estate to MOL ANKA Vermietungsgesellschaft mbH
& Co. Objekt Duisport KG, Düsseldorf, and has leased
it back (sale and lease back). Simultaneously a leasehold with a period of 70 years was granted to the
property company.
The property has been leased to an internationally
operating logistics company. The rental revenue that
can be realized over the long term in this way exceeds
the rental expenditure from the sale-and-lease-back
transaction with a basic rental period of 15 years.
There is a buy-back option at the end of the basic
rental period.
The advantage of this transaction is that the liquidity
obtained by the company via this financing model is
available for the investments planned for 2014 and
subsequent years.
A financial risk for the HDR can arise if the lease
agreement with the internationally operating logistics company should not be extended after ten years.

103

104

Consolidated notes and notes on the financial statements

Annual Report 2014

Derivative financing instruments

Valuation units

The following interest hedge swaps existed as at the
closing date:

The following valuation units were formed:

Underlying transaction/
hedging instrument

Type of interest hedge swap

Payer interest swaps (a)
of which to hedge financial
liabilities

Group
nominal volume
1,000 f

Group
market value
1,000 f

AG
nominal volume
1,000 f

AG
market value
1,000 f

101,028

14,995

99,000

-14,860

42,028

-3,349

40,000

-3,214

of which to hedge
planned transactions that
are highly likely

59,000

11,646

59,000

-11,646

Interest/currency swap
to hedge financial liabilities

13,889

-438

13,889

-438

The purpose of the interest/currency swap, which
has a nominal value of 13,889,000 euros, is to convert
an existing variable-rate loan in yen into a fixed interest loan in euros. As at 31 December 2014, the market
value of this swap was –438,000 euros.
Both in the consolidated financial statements and in
Duisburger Hafen AG’s annual financial statements,
the payer interest swaps have negative market values
totaling –14,995,000 euros and –14,860,000 euros
respectively.
In the annual financial statements as at 31 December
2014, the variable-interest liabilities and a portion of
the interest swaps and interest/currency swaps have
been combined to form a valuation unit. To cover
swaps with negative market values on the closing
date, a provision for anticipated losses may be formed
to the extent that the hedges are expected to be

ineffective due to discrepant interest payment dates.
In the annual financial statements as at 31 December
2014, there was however no need to form a provision
for anticipated losses for this reason.
Provisions for anticipated losses for liquidated valuation units amounting to 994,000 euros were formed
in the consolidated financial statements and for
859,000 euros in Duisburger Hafen AG’s annual financial statements.
The attributable values of the interest swaps and
interest/currency swaps correspond with their
respective market values as determined by suitable actuarial methods (the discounted cash flow
method). The valuations of the interest swaps and
interest/currency swaps are determined exclusively
by parameters observable on the market.

105

Risk/type of
valuation unit

Amount involved
1,000 f

Extent of hedged risks
1,000 f

Interest and currency risk/
micro hedge

13,889

-438

Interest risk/
portfolio hedge

81,500

-14,000

of which to hedge financial liabilities

22,500

-2,354

o
 f which to hedge planned transactions
that are highly likely

59,000

-11,646

(1) V
 ariable-interest loan in foreign
currency (debt)/interest/currency
swap (AG)
(2) V
 ariable-interest loan (debt)/
payer interest swap (AG)

Re (1): The counterbalancing payment flows from
the underlying and hedging transactions are
expected to cancel each other out with 100%
effectiveness during the hedging period up
to 30 June 2016 because Group risk policy is
to hedge risk positions (i.e. the underlying
transactions) as soon as they arise. Up to the
closing date, the counterbalancing payment
flows from the underlying and hedging transactions had indeed canceled each other out
completely. To measure the prospective effectiveness of a hedge, the critical term match
method is employed, whereas the change in
variable cash flows method is used to measure its retrospective effectiveness. This valuation unit is formed both in the annual financial statements and the consolidated financial
statements of Duisburger Hafen AG.
Re (2): The counterbalancing payment flows in this
portfolio from the underlying and hedging
transactions are expected to cancel each other
out with a high degree of effectiveness during the hedging periods that, depending on
the individual transactions, run until between

2015 and 2032 because company risk policy is
to hedge variable-interest risk positions (i.e.
the underlying transaction) against the liquidity risk as soon as they arise. Up to the closing
date, the counterbalancing payment flows
from the underlying and hedging transactions
had canceled each other out. Since the total
nominal values of the interest swaps do not
exceed the total nominal values of the loans,
and the terms of the interest swaps, including
the highly probable follow-up financing, are
no longer than the terms of the underlying
transactions, we can prospectively assume
a high degree of effectiveness, and the high
level of retrospective effectiveness achieved
is a further indication of the likelihood of prospective effectiveness. Besides this, the anticipated high level of retrospective effectiveness also indicates a high level of prospective
effectiveness. To measure the retrospective
effectiveness, the change in variable cash
flows method is employed. These valuation
units are formed both in the annual financial
statements and the consolidated financial
statements of Duisburger Hafen AG.

106

Consolidated notes and notes on the financial statements

Annual Report 2014

The payer interest swaps have maturities ranging
from 2015 to 2032. The majority of the variable-interest loans included in the valuation units are revolving credits that do not have fixed terms. One loan for
15 million euros matures on 19 November 2018 and
another loan for 10 million euros matures on 19 February 2026. We currently expect the loans either to be
maintained in an amount at least equaling their current levels until the payer interest swaps mature or,
alternatively, that corresponding variable interest follow-up financing will be provided, since the company
will continue to need this liquidity for future infrastructure and suprastructure investments as well as
for maintenance and repair work. Accordingly, the
valuation unit also includes transactions expected to
take place with a high degree of probability (and with
identical total nominal values).

The change in the consolidation basis resulted in revenue of 3,229,000 euros.

2. Other own work capitalized – Group
The duisport Group’s own work capitalized, totaling
8,000 euros, results from various Duisburger Hafen
AG construction projects.

3. Other operating income
1,000 f

Group
2014

Group
2013

AG
2014

AG
2013

Reversal of accruals (other periods)

1,236

1,870

505

619

Service fee

482

180

0

0

Appreciation of plant and current assets

300

244

279

147

Income from the disposal of current assets

288

0

288

0

Income from plant disposal

239

147

164

149

Received subsidies

153

297

75

297

Reversal of special items

152

152

0

0

Other prior-period income

122

294

39

58

Received compensation payments

9

990

9

1,030

Group-internal services

0

0

6,714

6,515

Other

1,163

1,746

196

295

Total

4,144

5,920

8,269

9,110

1,000 f

Group
2014

Group
2013

AG
2014

AG
2013

Raw materials, consumables, and supplies

24,352

20,260

856

863

VI. Notes on the profit and loss statement

4. Cost of materials

1. Revenue
1,000 f

Group
2014

Group
2013

AG
2014

AG
2013

Infrastructure

26,593

29,040

20,215

22,232

Suprastructure

20,776

16,601

8,196

7,789

Purchased services

46,797

44,119

624

507

Logistics services

60,376

53,813

1,955

1,269

Total

71,149

64,379

1,480

1,370

Packaging services

71,725

58,027

0

0

Other sales revenue

3,553

2,441

166

2,270

183,023

159,922

30,532

33,560

Total

The change in the consolidation basis resulted in
material expenses of 3,260,000 euros.

107

108

Consolidated notes and notes on the financial statements

Annual Report 2014

5. Personnel expenses

7. Other operating expenses

1,000 f

Group
2014

Group
2013

AG
2014

AG
2013

Wages and salaries

33,558

30,806

10,909

10,649

7,536

6,604

2,703

2,470

(thereof for pension scheme)

(1,228)

(1,007)

(989)

(825)

Total

41,094

37,410

13,612

13,119

Social taxes and expenses for pension
scheme and support

1,000 f

Group
2014

Group
2013

AG
2014

AG
2013

External services for maintenance

11,556

9,834

4,899

6,508

Lease and rental expenses

6,699

6,271

1,641

1,785

Legal, consulting, insurance, and similar

5,141

5,303

2,451

3,027

Temporary staff

3,958

4,180

2,341

2,475

Disposal costs

1,239

1,287

0

0

Company communication and marketing

1,169

1,311

842

1,178

456

269

0

0

0

0

1,174

1,852

8,976

6,056

5,659

4,111

39,194

34,511

19,007

20,936

Group
2014

Group
2013

AG
2014

AG
2013

382

638

754

190

(0)

(0)

(754)

(0)

0

0

9,845

6,272

382

638

10,599

6,462

Group
2014

Group
2013

AG
2014

AG
2013

343

427

7,208

6,238

(0)

(0)

(6,891)

(5,814)

343

427

7,208

6,238

Prior-period expenses

For employees who have not been granted any direct
pension undertakings, Duisburger Hafen AG operates

a supplementary pension scheme provided by Rheinische Zusatzversorgungskasse, Köln.

Group-internal services
Other
Total

6. Write-down of intangible assets and fixed assets
1,000 f

Group
2014

Group
2013

AG
2014

AG
2013

Intangible assets – scheduled

1,604

1,468

100

92

11,700

10,442

2,830

2,826

40

0

0

0

13,344

11,909

2,930

2,918

Fixed assets – scheduled
Fixed assets – unscheduled
Total

8. Income from participation
1,000 f
Income from participation/associated companies
(thereof from affiliated companies)
Income from appropriation of earnings
Total

9. Income from loans classified as fixed financial assets
1,000 f
Income from loans
(thereof from affiliated companies)
Total

109

110

Consolidated notes and notes on the financial statements

Annual Report 2014

10. Interest income and interest expenses

VIII. Other information
Group
2014

Group
2013

AG
2014

AG
2013

195

428

468

497

(0)

(0)

(302)

(99)

(1)

(1)

(1)

(1)

-7,668

-6,767

-6,109

-5,771

duisport packing logistics GmbH

(0)

(0)

(-157)

(-284)

(thereof expenses from the discounting
of long-term provisions)

(-430)

(-436)

(-674)

Total

-7,473

-6,339

-5,641

1,000 f
Other interest and similar income
(thereof from affiliated companies)
(thereof income from the discounting
of long-term provisions)
Interest and similar expenses
(thereof to affiliated companies)

Average number of employees by company
Total employees
Industrial workers

Office staff

Apprentices

2014

2013

7

159

16

182

185

117

71

13

201

199

dpl Chemnitz GmbH

52

11

0

63

61

(-436)

dpl Weinzierl Verpackungen GmbH
(formerly dpl Süd GmbH)1

41

15

2

58

65

-5,274

duisport rail GmbH

31

9

0

40

36

0

42

0

42

42

70

13

0

83

63

0

6

0

6

6

Holz Weinzierl Fertigungen GmbH & Co. KG

49

4

1

54

0

Omnipack GmbH

11

3

0

14

0

Tarlog GmbH

22

9

0

31

30

Umschlag Terminal Marl GmbH & Co. KG

17

4

0

21

21

duisport packing logisitics India Pvt. Ltd.

0

5

0

5

3

dpl International N. V.

0

0

0

0

2

15

8

0

23

33

432

359

32

823

746

Duisburger Hafen AG

duisport agency GmbH
dfl duisport facility logistics GmbH
IPS Integrated Project Services GmbH

11. Write-downs of financial assets and current
asset securities
In the year under review, write-downs amounting to
306,000 euros were made on financial assets. This
essentially relates to a write-down of the interest for
the shareholder loan to Antwerp Gateway N.V.

111

12. Income taxes
The taxes on income and on revenue for the Group
amount to 4,339,000 euros and for Duisburger Hafen
AG to 3,696,000 euros of the result of normal business operations.
In addition, an amount of 240,000 euros (2013:
240,000 euros) in the consolidated financial statements relates to a change in deferred taxes not recognized.

duisport industrial packing service
(Wuxi) Co. Ltd.
Total
1

	The previous year’s value involves the addition of the companies dpl Süd GmbH and Weinzierl Verpackungen GmbH,
which were merged to form dpl Weinzierl Verpackungen GmbH.

The other Group companies did not employ their own
personnel.

The total interest paid by the Group during 2014
amounts to 7.8 million euros.

Explanations regarding the consolidated
cash flow statement

Cash equivalents amounting to 203,000 euros
resulted from companies consolidated proportionately as at 31 December 2014.

Cash and cash equivalents include cash in hand as
well as bank balances and liabilities. There are no
restrictions on the disposal of the liquid assets.

112

Consolidated notes and notes on the financial statements

Annual Report 2014

Information in terms of Section 264,
Paragraph 3, HGB and Section 264b HGB
The subsidiaries Hafen Duisburg-Rheinhausen GmbH,
duisport agency GmbH, dfl duisport facility logistics
GmbH, duisport rail GmbH, duisport packing logistics
GmbH, dpl Chemnitz GmbH, Terminal Marl GmbH
& Co. KG, and Holz Weinzierl Fertigungen GmbH &
Co. KG are availing themselves of the relief available
under Section 264, Paragraph 3, HGB and Section
264b HGB in that they are foregoing disclosure of the
financial statements pursuant to Section 325 HGB.

Appropriation of profits

The following pension provisions have been made for
the members of the Executive Board:

Out of Duisburg Hafen AG’s net retained earnings
totaling 9,350,149.02 euros, the Executive Board proposes distributing 3,600,000.00 euros to the shareholders and allocating the remainder to the legal
reserve.

f

31 Dec. 2014

Appropriation

31 Dec. 2013

Erich Staake

1,362,597.00

189,556.00

1,173,041.00

750,057.00

116,722.00

633,335.00

2,112,654.00

306,278.00

1,806,376.00

Thomas Schlipköther
Total

Auditor’s fees
The Group auditor’s fees for the financial year were for:
Auditing services		
Other verification services		
Other services			

155,000 euros
21,000 euros
27,000 euros

The following pension provisions have been made
for former members of the Executive Board and their
survivors:

fw
Total fee			

203,000 euros

Total receipts of the Executive Board and
the Supervisory Board
Receipts by the Executive Board in 2014 are broken
down as follows:

2014 receipts
Nonperformancebased salary

Other nonperformancebased payments

Performancebased payments

Total

Erich Staake

324,900.00

90,048.00

238,000.00

652,948.00

Thomas Schlipköther

210,125.04

29,822.00

Markus Bangen
Total

f

1

133,000.00

372,947.04

162,143.76

1

54,833.00

119,000.00

335,976.76

697,168.80

174,703.00

490,000.00

1,361,871.80

	Including pension scheme.

The measurement criteria of the individual objective
agreements with members of the Executive Board for
2014 are also relevant for the achievement of objec-

tives and thus the amount of variable remuneration
in 2015 and 2016.

As of 31 Dec. 2013

3,351,715.00

Pension payments

-314,073.00

Ongoing appropriation

148,949.00

Appropriation from
compounding

154,829.00

As of 31 Dec. 2014

3,341,420.00

113

114

Consolidated notes and notes on the financial statements

Annual Report 2014

Loans to members of the Executive and
Supervisory boards

In 2014, the individual members of the Supervisory
Board received the following overall compensation:

Non-performancebased Remuneration
in 2014 in f

Non-performancebased Meeting fees
in 2014 in f

Non-performancebased Travel expenses
in 2014 in f

Total
in 2014 in f

1,789.52

409.04

0.00

2,198.56

1,533.88

409.04

0.00

1,942.92

1,533.88

0.00

0.00

1,533.88

766.94

204.52

533.42

1,504.88

Michael von der Mühlen

1,022.58

204.52

0.00

1,227.10

Heidi Batkowski

1,022.58

204.52

0.00

1,227.10

Udo Vohl

1,022.58

204.52

0.00

1,227.10

Ulrich Brottmann

1,022.58

204.52

0.00

1,227.10

Bernhard Waltenberg

1,022.58

204.52

0.00

1,227.10

Torsten Burmester

1,022.58

204.52

0.00

1,227.10

Kirsten Stecken

1,022.58

153.39

0.00

1,175.97

Benno Lensdorf

608.44

51.13

0.00

659.57

Dr. Ulf Steenken

511.29

88.71

49.80

649.80

Ekhart Maatz

511.29

51.13

0.00

562.42

0.00

102.26

0.00

102.26

14,413.30

2,696.34

583.22

17,692.86

Supervisory Board member
Sören Link2
Jörg Hansen
Ursula Lindenhofer

2

Gunter Adler 2
1

Thomas Susen
Total
	 Chairman.
	Vice-Chairman/Chairwoman.

1

2

The members of the Supervisory Board are not paid
performance-based remuneration or remuneration
with a long-term incentive.

As at 31 December 2014, there were no outstanding loans to Executive Board and Supervisory Board
members.

Duisburg, 11 May 2015
Duisburger Hafen Aktiengesellschaft

Executive Board

Staake 	
(Chairman)

Schlipköther 		

Bangen

115

116

Audit opinion

Annual Report 2014

Audit opinion
We have reviewed the Group financial statements –
comprised of the balance sheet, income statement,
cash flow statement, and statement of equity – with
the Group notes and Group management report
included with the company’s notes for Duisburger
Hafen AG, Duisburg, which is included with the management report for the company, for the fiscal year
from 1 January to 31 December 2014. The documentation of the Group financial statements and the
Group management report is the responsibility of the
Executive Board of the company in terms of German
commercial law and the supplementary conditions of
the Group’s articles. It is our task to present an evaluation, on the basis of the audit performed by us, of
the Group financial statements and the consolidated
management report.
We have conducted our audit of the Group financial
statements in terms of § 317 of the German Commercial Code (HGB), taking into consideration the
generally accepted German standards of auditing as
specified by the Institute of Public Auditors (IDW).

These regulations require that the audit be planned
and carried out such that misstatements and contraventions materially affecting the presentation of
the net assets, financial position, and results of operations in the Group financial statements – taking into
consideration generally accepted accounting principles – and in the consolidated management report
will be detected to a sufficient degree of certainty.
Knowledge of the business activities and the economic and legal environment of the Group as well as
expectations as to possible misstatements are taken
into account in the determination of audit procedures. The effectiveness of the accounting-related
internal control system and the evidence supporting
the disclosures in the Group financial statements and
in the consolidated management report are primarily
evaluated on the basis of random sampling. The audit
includes the assessment of the annual financial statements of the companies consolidated in the Group
financial statements, the determination of companies to be included in the consolidation, the accounting and consolidation principles used, and the significant estimates made by the Executive Board of
the company, as well as the evaluation of the overall

presentation of the Group financial statements and
the consolidated management report. We are of the
opinion that our audit forms a reasonable basis for
our evaluation.

Düsseldorf, 11 May 2015

Our audit has not led to any reservations.

Wirtschaftsprüfungsgesellschaft

In our opinion, based on the findings of our audit, the
Group financial statements comply with the legal
requirements as well as the supplementary conditions of the Group’s articles and present a view of the
net assets, financial position, and results of operations in the financial statements and the Group financial statements, taking into consideration generally
accepted standards of proper accounting, in accordance with the actual situation. The consolidated management report is consistent with the Group financial
statements, as a whole provides an appropriate view
of the position of the Group, and suitably presents
the opportunities and risks of future development.

PricewaterhouseCoopers
Aktiengesellschaft

Norbert Linscheidt	

p.p.a. Udo Kroll

Auditor 			

Auditor

117

118

Shareholders

Annual Report 2014

Shareholders
Duisburger Hafen AG’s subscribed capital amounts
to 46,020,000 euros divided into 46,020 registered
shares of restricted transferability.
Subscribed capital is held by the following institutions:
The State of North Rhine-Westphalia,
via Beteiligungsverwaltungsgesellschaft des Landes NordrheinWestfalen mbH with 	
30,860 million euros
The City of Duisburg with	

15,340 million euros

119

120

Annual Report 2014

Imprint
Duisburger Hafen AG
Hafen-Nummer 3650
Alte Ruhrorter Strasse 42–52
47119 Duisburg, Germany
Tel.	+49 (0) 203 803-0
Fax	+49 (0) 203 803-4232
www.duisport.com
mail@duisport.com
Concept, editing & implementation
dws Werbeagentur GmbH, Duisburg
www.dwsw.de
Photography
Frank Reinhold, Düsseldorf
Printing & processing
druckpartner
Druck- und Medienhaus GmbH, Essen
Photo credits
Thomas Bittera
Initiativkreis Ruhr
IPS GmbH
Rolf Köppen
Marco Linke, Manntau
SUT Archiv
Yantian Port

printed on:

Imprint

Port map

Verpackungslogistik inkl. Transportlösungen
für die Investitionsgüterindustrie

DIT Duisburg Intermodal Terminal GmbH
Trimodales Containerterminal am
logport-Hafen

D3T Duisburg Trimodal Terminal GmbH
Trimodales Containerterminal am
logport-Hafen

mit den Logistikstandorten:
duisport packing logistics GmbH
Duisburg/Essen/Westfalen/Hamburg

LOGPORT Logistic-Center Duisburg GmbH

dfl duisport facility logistics GmbH

Full-Service-Anbieter im
Ansiedlungsmanagement

Port Logistics, Warehouse Services,
Facility Management

dpl Weinzierl Verpackungen GmbH
Sinzing/München/Offenbach

Masslog GmbH
Umschlagterminal für Massengut
(vor allem Importkohle)

Umschlag Terminal Marl GmbH & Co. KG
Terminal für den Kombinierten Bahnverkehr im nördlichen Ruhrgebiet

Sitz der/Headquarter of
Duisburger Hafen AG

Antwerp Gateway N. V.
Seehafen-Containerterminal, Antwerpen

Heavylift Terminal Duisburg GmbH
Schwergutterminal im Duisburger
Außenhafen

Tarlog GmbH
Industrial area and services

Omnipack GmbH
Langerringen/Metzingen

Eisenbahn/Railway

duisport packing logistics
Unternehmensgruppe

Haupterschließungsstraßen/
Important connecting road

duisport agency GmbH
Zentrale Vertriebsgesellschaft für
Lösungen rund um Verkehrsrelationen,
Transportketten und Logistik

Hafengebiet duisport/
duisport Port area

Geplante Straße/
Planned feeder road

Duisburger Hafen AG
Eigentümerin und Managementgesellschaft
der öffentlichen Duisburger Häfen

Beteiligungen

Haupteisenbahnlinien/
Important connecting railway

Verpackungslogistik

Autobahn/Motorway

Logistische Dienstleistungen

Infra- und Suprastruktur

Wasserfläche/Water area

Die duisport-Gruppe und
ihre Geschäftssegmente

Holz Weinzierl Fertigungen GmbH & Co. KG
Sinzing/Schönheide/Velburg

logport ruhr GmbH

duisport consult GmbH

Logistikimmobilien und modulare
Dienstleistungen im Ruhrgebiet

Hafen- und Logistikkonzepte

dpl Chemnitz GmbH
Chemnitz

DistriRail B. V.
Unabhängiger Bahnoperateur
im Kombinierten Verkehr

EILS – Emballages Industriels Logistique & Services
Verpackungslogistik mit Standorten
in Mulhouse und Strasbourg

IPS Integrated Project Services GmbH
Weltweite Projektlogistik für den
Anlagen- und Maschinenbau

dpl International NV
Antwerpen
duisport Industrial Packing Service (Shanghai) Co. Ltd.
Shanghai/Wuxi

duisport rail GmbH

Internationale Hafen- und
Logistikentwicklung in
Partnerschaft mit HOCHTIEF

Öffentliches Eisenbahnverkehrsunternehmen und flexibler Partner für
die Anbindung an die Schiene

duisport packing logistics India Pvt. Ltd.
Pune (Mumbai)

Zeichenerklärung/Legend

DuisPortAlliance GmbH

Duisburger Hafen AG
Port number 3650
Alte Ruhrorter Strasse 42–52
47119 Duisburg, Germany
Phone +49 (0) 203 803-0
Fax +49 (0) 203 803-4232
www.duisport.com
mail@duisport.com
        
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