While turbulent times had an impact on financial results, liquidity and solvency remained high in 2021. Turnover increased to over € 360 million. The turnover increase - adjusted for the impact of diesel prices - compared with 2020 predominantly came from warehousing and distribution, followed by Mega international transport and freight management.
Consolidated earnings before interest and taxation (EBIT) dropped to € 0.7 million, leading to a break-even net result. The contribution margin did not meet the 2021 target or the 2020 level, which is the main reason for the shortfall of EBIT. Largest EBIT decreases are found in High Volume and Warehousing and Distribution business lines.
The sum of general wage indexations, Solutions business growth, the 2020 NOW wage subsidies, IT developments and implementations (largely Solutions), and restructuring costs chiefly clarify the increase of indirect costs compared to the previous year.