Logwin reports a pleasing start to the 2013 financial year
- Revenues: 320.7 million euros / Operating result (EBIT): 8.0 million euros
- Stable revenues and earnings position at Air + Ocean
- First positive effects from improved efficiency at Solutions
- Continued positive net liquidity
Grevenmacher (Luxembourg) – The Logwin Group generated total revenues of 320.7 million euros in the first quarter of the 2013 financial year, which was thus slightly below the figure for the prior year (2012: 329.9 million euros). Operating result (EBIT) increased by 1.9 million euros to 8.0 million euros (2012: 6.1 million euros). The net result improved to 4.6 million euros (2012: 2.9 million euros). At -1.6 million euros, the financial result is at the same level as the prior year (2012: -1.7 million euros). The financial stability of the Logwin Group is also evidenced by the continuing positive net liquidity of 4.4 million euros (December 31, 2012: 7.2 million euros).
Berndt-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin AG comments, "Improved operating efficiency and reduced structural costs are showing their first positive effects at Solutions. We continue to be satisfied with the stable development at Air + Ocean in the face of difficult market conditions."
The business segment Solutions generated revenues of 171.5 million euros in the first three months (2012: 181.5 million euros). In the functional unit Logistics and Warehousing was the positive development in terms of volume with particular customers compensated by volume losses due to location closures. The functional unit Transport and Retail Networks faced in part lower production volumes in the reporting period compared with the prior year. In the reporting period, the operating result (EBIT) for the business segment Solutions increased to 3.2 million euros (2012: 1.3 million euros).
The revenues of the business segment Air + Ocean in the first quarter of 2013, at 148.9 million euros, were at the same level as the prior year (2012: 148.6 million euros). Air freight volume was below the figure for the previous year for the business segment Air + Ocean as well as for the market as a whole. However, sea freight volumes developed somewhat better than for the stagnating market. Freight rates were varied. Despite a restrained market situation in Asia, the overall earnings position is satisfactory. The business segment was able to maintain the same level of operating result (EBIT) of 6.0 million euros in the first three months of 2013 as in the prior year.
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About Logwin AG
Logwin AG, Grevenmacher (Luxembourg), develops comprehensive logistics and service solutions as an external partner for industry and trade. In 2012, the group generated revenues of 1.3 billion euros and currently employs approximately 5,200 staff. Logwin operates in all main markets worldwide and has over 250 locations across all continents. With its two business segments Solutions (customer-focused contract logistics solutions) and Air + Ocean (global air and sea freight activities), Logwin AG is one of the leaders in the market.
Logwin AG is listed in the Prime Standard of the Deutsche Börse. The majority shareholder is DELTON AG, Bad Homburg (Germany).
Phone: +352 719690-1354
Fax: +352 719690-1359
Dr. Karl-Heinz Kramer
Phone: +352 719690-1112
Fax: +352 719690-1359
Logwin AG | ZIR Potaschberg | 5, an de Laengten | 6776 Grevenmacher | Luxembourg