With Adler, the group expanded into business with end consumers for the first time.
(Photo: dpa)
Frankfurt The boss of the family company Zeitfracht assumes that it will not be able to reach the record sales of 2021 in the current year. “We will achieve the goals we have set for this year, but due to the general reluctance to buy, we are assuming slightly lower sales compared to the previous year,” said Wolfram Simon-Schröter, CEO, in a statement on Tuesday.
As the annual financial statements of the Zeitfracht Group for 2021 published on Tuesday show, sales soared from EUR 592.6 million to EUR 910.9 million last year. On the one hand, the significant increase is due to organic growth. On the other hand, Simon-Schröter has specialized in buying and restructuring companies in financial difficulties for several years.
Last year, Zeitfracht took over the insolvent fashion chain Adler, an explanation for the growth in sales. With Adler, the group expanded into business with end consumers for the first time.
Zeitfracht Group feels the change in consumer sentiment
The roots of the company are in logistics, one pillar is the supply of the book trade. Rostock-Laage Airport also belongs to the group, as does the airline German Airways. Zeitfracht co-founded the DPD parcel service, but sold it a few years ago.
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A further step into the consumer business was recently made with the takeover of the confectionery chain Leysieffer. As a result, the group now feels the changed buying mood more directly. Consumers are currently holding onto their money due to high inflation and energy costs.
The Zeitfracht boss surprises again and again with his acquisitions.
(Photo: Zeitfracht/Thomas Rabsch)
Nevertheless, Simon-Schröter is convinced of his strategy and refers to the earnings margin before interest, taxes, depreciation and amortization. This increased from a good five to nine percent in 2021. “2021 was a satisfactory financial year for us, in which we were able to benefit from our solid and broadly diversified market positioning in all business areas,” said the entrepreneur.
At the same time, however, he conceded: “The current economic turmoil will present us with further challenges. Mastering this is only possible together with our employees.” Zeitfracht now has around 6,000 employees.
Football participation should bring more attention
Company boss Simon-Schröter Schröter, who is married to the shareholder of the Zeitfracht Group, Jasmin Schröter, always surprises with his acquisitions – not only in the case of Adler and Leysieffer. A few months ago, the group also acquired a “significant stake” in the Frankfurt Galaxy American football team.
One goal: the individual holdings of Zeitfracht should be given more attention. The logos of the trading companies Speedlink, MyRacoon and the outdoor outfitter McTrek can now be found on the jerseys of the Frankfurt players, also Zeitfracht companies.
More: Fashion, Airport, Football: The surprising takeover strategy of the boss of Zeitfracht