Logwin continues with positive overall development and improved earnings in FY 2015

Grevenmacher (Luxembourg) – The Logwin Group with its two activities of Air + Ocean and Solutions has developed positively and has improved its earnings position in FY 2015. The Group revenue remained stable against the previous year at EUR 1.1 bn.

The successful global air and ocean activities have been able to increase volumes and shipment numbers based on their successful sales activities. The revenue of the business segment Air + Ocean has increased by 4.3 percent to EUR 676.1 million (2014: EUR 648.1 million) in spite of the decreased freight rates.

In the business segment Solutions, all relevant contract logistics activities have been retained and key contracts have been prolonged in according tenders. With newly developed concepts and thee setup of state-of-the art logistics facilities in Mönchengladbach and Schwäbisch Gmünd, Logwin has demonstrated its intention and ability to invest into customer projects. Due to activities terminated or divested in previous periods, the revenue in the business segment Solutions has decreased to EUR 380.8 million (2014: EUR 479.5 Mio.).

The EBITA of Logwin Group has improved clearly to EUR 30.3 million (2014: EUR 25.1 million). The Net Result has been increased to EUR 15.7 million (2014: EUR 13.8 million).

At EUR 33.1 million, net cash flows came in clearly above the previous year’s value (2014: EUR 13.7 million). Based on the positive result and the very successful working capital management, cash inflows from divestments added to the pleasing cash flow development. The financial strength of Logwin Group has been further improved consequently. Net liquidity after short-term financial liabilities was at EUR 77.3 million at year end 2015 (2014: EUR 50.8 million), with the equity ratio reaching 31.6 % (2014: 27.9 %).

For the financial year 2016, Logwin expects to continue the pleasing overall development of the Group. The targeted development will depend on the partially challenging market conditions and competitive environment of the key markets in Europe and Asia.

The full Annual Financial Report 2015 will be  available as of March 2015 and can be downloaded from www.logwin-logistics.com.

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