German logistics firm Trans-o-Flex set to expand in Europe

Oesterreichische Post AG

25/08/2021 14:00

HAMM, Germany, Aug 25 (Reuters) - German logistics group
Trans-o-Flex, which sources say is preparing a Frankfurt listing
as early as next month, wants to boost growth by expanding into
neighbouring countries, its chief executive said on Wednesday.
    Sources close to the matter said in June that Trans-o-Flex
was preparing to list on the Frankfurt stock exchange in a deal
that could value it at roughly 1 billion euros ($1.17 billion).
 urn:newsml:reuters.com:*:nL5N2O54TO
    "I want to drive internationalisation within Europe," CEO 
Wolfgang Albeck, a former Deutsche Post  DPWGn.DE  manager, told
Reuters in an interview. 
    He declined to comment on plans for a possible stock
exchange listing.
    Trans-o-flex specialises in transport services for the
pharmaceutical, cosmetics and consumer electronic industries,
with transport of pharmaceutical products - like coronavirus
vaccines - accounting for around 60% of its turnover.
    The company expects the market will grow by almost a quarter
by 2025 in Germany and Austria, where it is currently active.
    Albeck turned the company around after Bavarian logistics
entrepreneurs Christoph Schoeller and Peter Amberger - who had
owned the company in the 1990s - bought it back from Austrian
Post  POST.VI  in 2017.
    In the first six months of the year, Trans-o-flex increased
turnover by almost 5% to 264 million euros, while adjusted
operating profit grew by 4% to 31 million euros. 
    Albeck said Schoeller and Amberger are long-term oriented
owners, adding that he has also just extended his contract until
2024.
    The CEO said the group does not plan to compete with
industry giants such as DHL  DPWGn.DE , DPD or UPS  UPS.N , but
to concentrate on transport of sensitive or high-value goods,
from flat screens to artificial heart valves that have to arrive
at the operating theatre on time. 
    "What we do, a normal parcel service cannot do," he said.
    ($1 = 0.8517 euros)

 (Reporting by Alexander Huebner; Writing by Emma Thomasson;
Editing by Jan Harvey)
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