- Language: English
- Published: October 2012
- Region: Germany
Summary: Thiel Logistik AG Mar 08
- Published: March 2008
- Standard & Poors
The ratings on Luxembourg-based logistics services provider Thiel Logistik AG reflect the group's midsize position in the highly fragmented, cyclical, and competitive logistics market; the regional and relatively modest scope of its operations; modest margins; and high financial leverage. The ratings benefit from Thiel's good positions in certain specialist markets, such as German fashion and media. Thiel has annual revenues of -2.0 billion and some good niche market positions. The group faces competition, however, from a number of larger players in the European logistics sector, including DHL, which belongs to Deutsche Post AG, (A-/Negative/A-2); CEVA Group PLC (B/Negative/--); Schenker, owned by Deutsche Bahn AG (AA/Negative/A-1+); and Kuehne & Nagel AG (not rated). There is a risk that larger competitors could...
Companies mentioned in this report are: Logwin AG
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