DGAP-News: Logwin AG / Key word(s): Interim Report
Logwin Group with improved result after three quarters
04.11.2013 / 07:40
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Logwin Group with improved result after three quarters
- Revenues: 932.4 million euros / Operating result: 19.4 million euros
- Air + Ocean with stable profitability
- Solutions disposes of locations and improves operating result
- Distinctly positive net liquidity: 17,9 million euros
Grevenmacher (Luxembourg) - The Logwin Group generated total revenues of
932.4 million euros in the first nine months of the 2013 financial year,
which was thus below the figure for the prior year (2012: 1,005.3 million
euros). In the business segment Air + Ocean this development is due to
lower freight rates. Sales revenues in the business segment Solutions were
affected by location closures and the disposal of business operations
focussed on land transportation. Operating result (EBITA) before valuation
effects and disposal of business activities improved to 19.4 million euros
(2012: 16.0 million euros). The operating margin in the first nine months
increased accordingly to 2.1 % (2012: 1.6 %).
Goodwill impairment associated with the sale of in part large Solutions
locations totalling -4.0 million euros was already reported in the
financial statements for the first six months. Earnings before interest and
taxes (EBIT) amounted to 13.2 million euros (2012: -36.0 million euros).
EBIT in the prior year included impairments totalling -53.0 million euros.
The net result for the period adjusted for impairments and disposal of
business activities improved to 10.1 million euros (2012: 6.4 million
euros). At -4.4 million euros, the financial result is slightly above the
level of the prior year (2012: -4.8 million euros). Net liquidity increased
significantly to 17.9 million euros (December 31, 2012: 7.2 million euros)
reflecting the stable financial situation of the Logwin Group.
Berndt-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin
AG comments, 'The improved result of the first three quarters confirms the
stable development of the Logwin Group. The measures at Solutions aimed at
improving profitability are taking effect. At Air + Ocean we have already
achieved a high level of quality and thus a satisfactory level of results.
We are determined to continue this development in the interaction of the
two business segments.'
Revenues for the business segment Solutions in the first nine months were
470.7 million euros and thus below the figure for the prior year mainly as
a result of the disposal and closure of locations at the functional unit
Logistics and Warehousing (2012: 524.7 million euros). The functional unit
of Transport and Retail Networks was influenced by difficult conditions in
the print media in the area of Media, by the discontinuation of
unprofitable activities in the area of Retail but also by significant
revenue growth in the core business of its retail network. Operating result
before valuation effects and sale of business activities at the business
segment Solutions amounted to 2.4 million euros (2012: 0.4 million euros).
In the first nine months of 2013, the business unit Air + Ocean generated
revenues of 461.2 million euros, which was slightly below the level of the
prior year owing to lower average freight rates over the year (2012: 481.4
million euros). Compared with the prior year, sea freight volumes saw a
pleasing increase, primarily as a result of exports from Europe and
inner-Asian transportation. Here the increase exceeded market growth. Air
freight volumes for the business segment and also for the market as a whole
declined but have been rising slowly since the middle of the year. All in
all, the business segment was able to increase its operating result
slightly to 20.9 million euros (2012: 20.3 million euros).
The nine-month financial report 2013 of the Logwin Group is available on
the Internet at: www.logwin-logistics.com
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 sales of 1.3 billion euros and currently employs
approximately 4,700 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).
Contact:
www.logwin-logistics.com
Mara Hancker
Public Relations
Phone: +352 719690-1354
Fax: +352 719690-1359
pr-info@logwin-logistics.com
Dr. Karl-Heinz Kramer
Investor Relations
Phone: +352 719690-1112
Fax: +352 719690-1359
ir-info@logwin-logistics.com
Logwin AG | ZIR Potaschberg | 5, an de Laengten | 6776 Grevenmacher |
Luxembourg | www.logwin-logistics.com
End of Corporate News
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04.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Logwin AG
an de Längten 5
L-6776 Grevenmacher
Grand Duchy of Luxembourg
Phone: +352 719 690 0
Fax: +352 719 690 1359
E-mail: ir-info@logwin-logistics.com
Internet: www.logwin-logistics.com
ISIN: LU0106198319
WKN: 931705
Indices: Prime All Share (PXAP), Classic All Share (CLXP),
DAXsector All Transportation & Logistics (4N87), DAXsector
Transportation & Logistics (CXPL), DAXsubsector All
Logistics (4N99), DAXsubsector Logistics (I1LB)
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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237499 04.11.2013
DGAP-News: Logwin Group with improved result after three quarters
| Source: EQS Group AG