Vos Logistics adapts to market realities and strengthens financial position in 2024

• Turnover of €357.5 million, net result at break-even
• ISO27001 certification reinforces cybersecurity and data protection
• Progress in digitalization, AI, and warehouse automation
• Investments in zero-emission solutions, HVO100 biofuel, and the transition to CSRD
   

In 2024, European logistics service provider Vos Logistics achieved a turnover of €357.5 million, a decrease of 7.5 percent compared to 2023 (€377 million). The company saw gradual financial recovery throughout the year, with EBIT increasing to €3.8 million (2023: €0.9 million) and EBT improving to €1.4 million (2023: -€1.8 million). Net results returned to break even.

Liquidity remained stable at €13.5 million, while net debt decreased to €43 million. Vos Logistics invested €35.5 million in fleet renewal, warehouse automation, digitalization and sustainability, reinforcing its commitment to operational efficiency and ensuring the business is future-proof.

Solutions

Solutions consistently adapted to market changes, staying resilient with warehousing, Benelux distribution and freight management. Winding down the home delivery service proved to be a positive move for the company. The increasing demand for warehousing and distribution services mitigated effects from lower trading customers. The successful rollout of a new Warehouse Management System (WMS) improved process efficiency and service levels.

Vos Logistics further enhanced end-to-end supply chain solutions, integrating warehousing, transport, and value-added logistics. The introduction of a new Control Tower provided a centralized hub for real-time tracking and optimization of freight and supply chain operations. As the company expands the solution in 2025, more businesses will benefit from its scalability and efficiency.

International Transport

While International Transport was impacted by external factors such as changes in the automotive and petrochemical markets, business consistently improved during 2024. The intake of new customers and the implementation of operational efficiencies led to improved profitability. The division reduced truck capacity. This improved execution while keeping flexibility through subcontracting partnerships. The Mega FTL network performed better than in 2023 and while High Volume transport faced some fluctuations mainly in recyclable textiles, its mobile storage logistics concept showed steady demand. Bulk Network & Storage maintained stable results despite a downturn in petrochemicals and construction-related transport. The labour market for international drivers remains a key focus area.

Sustainability

In 2024, Vos Logistics advanced initiatives to reduce its environmental footprint, enhance transparency, and align with emerging regulatory standards. The company provided significant support to its customers in reaching their sustainability targets in logistics. We will continue to grow this service in the years ahead.

Vos Logistics expanded the use of HVO100 biofuel, reducing CO₂ emissions and prepared for further electrification of the fleet to continue this trend in the coming years. Alternatives to generate renewable energy at Vos Logistics sites to reduce grid dependency continued to be explored in the company’s commitment to reaching net-zero operations.

In preparation for the transition to CSRD, Vos Logistics enhanced its sustainability reporting. The company incorporated CO₂ emissions data into invoices and provided customers with detailed environmental impact reports. These efforts align with EU regulatory requirements and reinforce the company’s commitment to transparent, data-driven sustainability practices.

Digital transformation and cybersecurity: Work smarter, stay secure

Vos Logistics leveraged AI to automate processes. Investments in IT infrastructure and cybersecurity led to ISO27001 certification, a significant milestone in securing customer data and business operations against cyber threats.

Looking ahead, Vos Logistics will continue optimizing its operational structure, investing in digitalization, and expanding sustainable solutions. The company remains focused on delivering high-value logistics services, improving efficiency, and reinforcing the power of a shared network.

CFO Ben Vos: "In 2024, we took decisive steps to reinforce our financial position while strategically investing in digitalization, automation, and sustainability. Although the company’s current position is not yet aligned with our ambitions, the improvement in EBIT and EBT underscores our ability to adapt to changing market conditions. The adaptive and forward-thinking capacity of our committed staff is a great asset for Vos Logistics. We are on the way to CSRD compliance. We continue to invest in AI, warehouse automation, and cybersecurity. We are ensuring that Vos Logistics remains a relevant and future-proof organization."

CEO Frank Verhoeven: "The logistics industry is evolving rapidly, and Vos Logistics is at the forefront of this transformation. By leveraging the power of our shared network, embracing AI-driven innovation, and expanding our zero-emission initiatives, we are delivering more efficient and sustainable solutions to our customers. Our focus remains on working smarter, enhancing digital capabilities, and creating long-term value for our customers, employees, and communities. With a strong foundation in place, we are confident in our ability to drive growth and efficiency in 2025 and beyond."

The 2024 integrated annual report published today is available at https://www.voslogistics.com/en/vos-logistics/annual-report-2024.