Grevenmacher (Luxembourg) - The Logwin Group announces its preliminary half-year figures for 2021 and adjusts its forecast for the current financial year in view of the business developments that continue to exceed expectations.
Logwin Group’s sales increased by 43.4 % to 771.1 million euros in the first half of 2021 (2020: 537.7 million euros). The main reason was the development in the business segment Air + Ocean with a good volume development and high freight rates in ocean and air freight. In terms of operating earnings (EBITA), the Logwin Group achieved 36.6 million euros in the first half of the current fiscal year (2020: 18.2 million euros), thus exceeding the previous year's result very significantly by 18.4 million euros. The Logwin Group's net profit for the period amounted to 27.7 million euros in the first six months of 2021 (2020: 12.6 million euros).
Due to the significantly better overall sales and earnings development in the first half of 2021 compared with the forecast report in the Annual Financial Report 2020, the Logwin Group now expects strong sales growth to around 1.5 billion euros for the full year 2021. The extent of the increase in sales continues to depend to a large extent on the further development of freight rates and volumes. Based on current developments, the Logwin Group's operating earnings (EBITA) will also increase significantly compared to the previous year and is expected to be in range of around 65 million euros. The net result for the period is also expected to increase significantly on the basis of the expected development of operating earnings (EBITA). The forecast is still subject to highly increased uncertainty due to the particular development of the market and competitive environment and the possible effects of measures to combat the global pandemic.
Further information on business performance will be provided in the interim group report for the first half of 2021.
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 2020 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)
