Grevenmacher (Luxembourg) Based on the current business developments in the individual business segments, the Logwin Group is adjusting its revenue and earnings forecast for the current financial year.
Despite declining freight rates, revenue for the 2022 financial year in the two business segments Air + Ocean and Solutions as well as in the Logwin Group is expected to exceed in total EUR 2.2bn and thus be higher than in the previous year (previous forecast: prior-year level).
Based on current developments, the operating result (EBITA*) of the Logwin Group will also be above the previous year's level at around EUR 120m (previous forecast: prior-year level). This is due in particular to the continued good earnings performance of the Air + Ocean business segment, which will significantly increase its operating result (EBITA) compared with the previous year to around EUR 140m (previous forecast: prior-year level). By contrast, the operating result (EBITA) at the Solutions business segment will be significantly lower than the previous year’s result due to extraordinary expenses for the termination of loss-making activities. Depending on the level of expected extraordinary expenses the operating result (EBITA) is expected to be only slightly positive (previous forecast: prior-year level). In total, the Logwin Group's net result is expected to be higher than the previous year's figure at around EUR 70m due to the positive development in the Air + Ocean business segment, despite the charges from the Solutions business segment (previous forecast: significantly above prior-year).
The forecast of the Logwin Group is still subject to a very high degree of uncertainty due to special developments in the market environment, in particular as a result of the global Covid 19 pandemic and the developments in Ukraine.
*The aforementioned key performance indicators (KPIs) are an integral part of Logwin Group’s system of key figures and are described and defined in the section „Financial Performance Management“ of the management report of the Annual Financial Report 2021 (page 1 et seq.) in line with the European Securities and Markets Authority‘s (ESMA) Guidelines on Alternative Performance Measures (APM) dated 5 October 2015.
Person making the notification: Sebastian Esser, Member of the Board of Directors (Chief Financial Officer)