The Marquard & Bahls Group experienced an eventful and varied year 2017 that ended with an operating result of €200m ($233.7m). However, the Group’s consolidated net income after taxes was impacted by “extraordinary effects” and fell €34.6m short of expectations. The tank storage logistics division again made a strong contribution. Aviation fuelling and the end-consumer business also achieved good to very good results.
In addition to the operational businesses, the focus in 2017 was on strengthening the organisational structure, to provide even stronger support to the operating units in their growth objectives. This process was largely completed by the end of the year.
Oiltanking had a successful albeit mixed year. Some sites saw a decline in capacity utilisation. At the same time, many contracts were extended and several major projects advanced. In Matola, Mozambique, Oiltanking successfully commissioned a new tank terminal. At year-end, Oiltanking operated 80 terminals in 25 countries, with a total capacity of 21 million cbm. In view of the new tank terminal projects currently under construction and the expansion of existing locations, Oiltanking is confident that it will continue to grow in the future. This involves in particular the areas of gases and chemicals.
The Mabanaft group realised strong sales, with a mixed overall business performance. While wholesale trading and bunkering recorded unsatisfactory results, the positive trend in the retail sector continued. At the end of the year, the trading group’s sales volume war around 27 million tonnes of oil. The merger of trading activities into “Global Books” and further adaptions form a strong basis for the trading businesses future international growth.
Marquard & Bahls strives for further international growth in the future. The focus is on expanding the core activities of trading, tank storage logistics and aviation fuelling. The strong operating base and solid financial position provide a good starting point for future projects and plans.
For more information, visit: www.oiltanking.com
31st May 2018
