Geis Group grew significantly in 2023
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Geis Group grew significantly in 2023
June 3. 2024

Geis Group grew significantly in 2023

The Geis Group grew significantly in 2023 thanks to the breakthrough acquisition, achieving a turnover of EUR 1.89 billion. The Czech part of the Group generated a turnover of over CZK 5 billion despite difficult market conditions. The entire group is now focusing on further deepening its cooperation with Quehenberger Logistics.

Historic growth - this is what the Geis Group achieved with the majority takeover of Quehenberger Logistics in the last financial year 2023. While in 2022 the Group recorded a turnover of EUR 1.335 billion, in 2023 this figure rose to EUR 1.89 billion. The Geis Group now employs approximately 9,700 people in 13 countries.

In the Czech Republic, the Geis Group was able to confirm its strong position among the leaders in the logistics market despite the significantly unfavourable market development and achieved a turnover of over CZK 5 billion. Daniel Knaisl, Managing Director of Geis CZ, SK and PL comments, "This result in a difficult period of economic downturn confirms the long-term stability of our company, which is a key element for achieving success in our region."

Good results despite a difficult market environment

While certain logistics segments experienced a downturn, Geis was able to achieve good results thanks to growth in other areas. Geis offers a wide range of logistics services, which enables it to diversify its portfolio and successfully respond to market challenges.

Difficult market conditions with declining volumes and low freight rates due to the ongoing economic downturn have been particularly evident in the Air + Sea segment. Following the pandemic-related boom in 2021 and 2022, freight rates for ocean and air freight companies declined substantially.  

The road transport segment experienced revenue stagnation due to the economic situation, but remained at a good level overall. The warehouse logistics services segment, in which Geis Group offers its contract logistics solutions, achieved double-digit percentage revenue growth, driven by new projects and extensions of existing contracts. Geis intends to develop the warehouse logistics business in the future.

Continuation of the transformation process

A year ago, Geis took over a majority stake in Quehenberger Logistics. This acquisition, the largest in Geis' history to date, opens up many new perspectives for both companies. With this takeover, Geis Group has completed an important step in its expansion strategy in Southeastern Europe. "We have significantly expanded our presence in these markets and our customers can benefit from our highly professional network in this region as well," says Knaisl. Together, the companies are developing and implementing a joint strategy and promoting the "Best of Both" principle in all services offered. Together, they also plan to invest heavily in sustainability, digitalisation and automation, as well as in land and buildings.

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