Grevenmacher (Luxembourg) - In comparison with the information provided in the Annual Financial Report 2019 the Logwin Group is adjusting its forecast for its earnings position in 2020 due to the global impact of the corona pandemic. In view of the risks that now have to be taken into account worldwide, in particular also due to the duration and only gradual reduction in public measures to contain the corona pandemic, the Logwin Group now expects operating earnings (EBITA) to significantly decrease compared to the previous year. Both the Air + Ocean and the Solutions business segments are affected by the reassessment of EBITA development. Until now, the Logwin Group had expected a significant increase in operating earnings in the Solutions business segment and a decline in operating earnings (EBITA) in the Air + Ocean business segment compared with the previous year. Accordingly the net result for the period will also show a significant decline. The forecast uncertainty has increased significantly compared with previous statements on the development of the Logwin Group.
The Quarterly Statement as of March 31, 2020 will be published by the end of April as planned. Logwin confirms that the company's financial position remains stable on the basis of a profitable business despite the Corona-related declines. Operating earnings (EBITA) are expected to amount to around EUR 9m (previous year: EUR 12.1m) for the first quarter of 2020, subject to the finalization of the quarterly interim results.
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 2019 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)
About Logwin AG
Logwin AG (Grevenmacher, Luxembourg) provides efficient logistics and transport solutions for its customers from industry and trade. In 2019, the group generated sales of EUR 1.1bn and currently employs about 4,300 staff. Logwin operates in all main markets worldwide and has around 190 locations on six continents. With its two business segments Solutions and Air + Ocean, 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 Logistics S.à r.l., Grevenmacher, Luxembourg.
Contact: www.logwin-logistics.com
Sebastian Esser
Chief Financial Officer
Tel: +352 719690-1112
sebastian.esser@logwin-logistics.com
