DGAP-News: Logwin AG / Key word(s): Final Results
Financial Year 2013: Logwin Group benefits from good Air + Ocean
performance
06.03.2014 / 06:38
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Financial Year 2013: Logwin Group benefits from good Air + Ocean
performance
- Revenues: EUR 1,219.7m / Operating result: EUR 14.8m
- Air + Ocean develops very positive, stable revenue development
- Solutions continues its focus and improves operating result
- Provision for risks and goodwill impairment lead to negative net result
- Distinctly positive net liquidity
Grevenmacher (Luxembourg) - In financial year 2013, the Logwin Group
generated total revenues of EUR 1,219.7m (2012: EUR 1,324.6m). This
development is primarily attributable to the sale of business activities
and the closure of locations in the Solutions business segment as well as -
to a lesser extent - on average lower freight rates over the course of the
year in the Air + Ocean business segment. Operating result (EBITA) before
valuation effects and the sale of business activities amounted to EUR 14.8m
(2012: EUR 14.9m). The operating margin was 1.2 % (2012: 1.1 %).
A goodwill impairment associated with the sale of Solutions locations
totalling EUR -4.0m had been reported already in the financial statements
for the first six months of 2013. Net result before interest and income
taxes (EBIT) amounted to EUR 8.0m (2012: EUR -59.5m).
The net result for the period adjusted for impairments and the sale of
business activities amounted to EUR 4.0m (2012: EUR 5.8m). Over the past
financial year the financial strength of the company has improved further.
Net liquidity climbed significantly from EUR 7.2m at the end of the prior
year to EUR 37.9m at December 31, 2013.
Berndt-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin
AG comments, "Logwin developed positively in 2013. Focussing on our core
business and efficient and sophisticated services make Logwin a dependable
and strong logistics partner. We will continue to develop these strengths,
aiming for a sustained increase in profitability."
In the 2013 financial year the Solutions business segment generated
revenues of EUR 600.6m and was thus below the level of the prior year
mainly owing to the sale and closure of locations (2012: EUR 692.0m).
Development was also characterised by difficult conditions for print media
and by the discontinuation of unprofitable activities in the area of
Retail. In contrast, there was pleasing growth in individual business
relationships with existing major customers in the Retail Network.
Operating result before valuation effects and the sale of business
activities amounted to EUR -2.9m (2012: EUR -3.5m).
The Air + Ocean business segment achieved revenues of EUR 618.1m (2012: EUR
633.2m). The slight decrease was mainly due to mostly lower freight rates
over the year. In terms of volume, the business segment recorded pleasing
growth in ocean freight that was above the market primarily as a result of
increased exports from Europe and inner-Asian transportation. Air freight
volume declined owing to a lower level of customer-specific project
business compared with the prior year. The operating result for the
business segment underlines the continuing positive development and
increased to EUR 27.1m (2012: EUR 25.3m).
Outlook
The Logwin Group expects a decrease in revenues in the current financial
year due to the focusing performed in the Solutions business segment.
Despite a continuing difficult competitive environment, transport volumes
of the Air + Ocean business segment are anticipated to expand. Revenues
will continue to be heavily dependent on the freight rate development. The
Group is aiming for an increase in the operating result and its
profitability not least based on an improvement in the earnings situation
in the Solutions business segment.
The annual 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 2013,
the group generated sales of EUR1.2bn and currently employs approximately
4,500 staff. Logwin operates in all main markets worldwide and has over 200
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:
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
www.logwin-logistics.com
Logwin AG | ZIR Potaschberg | 5, an de Laengten | 6776 Grevenmacher |
Luxembourg
End of Corporate News
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06.03.2014 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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256042 06.03.2014
DGAP-News: Financial Year 2013: Logwin Group benefits from good Air + Ocean performance
| Source: EQS Group AG