DGAP-News: Logwin AG / Key word(s): Interim Report
Logwin starts into the year 2014 with solid performance in line with
expectations
05.05.2014 / 06:47
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Logwin starts into the year 2014 with solid performance in line with
expectations
Grevenmacher (Luxembourg) - The Logwin Group reports a solid start into the
financial year 2014 and the development has been fully in line with
expectations. After the divestments and re-focussing of business activities
in the Solutions business segment, revenues came to EUR 278.5m (2013: EUR
320.7m). Despite this significant decrease, the operating result (EBIT) of
EUR 8.0m was on previous year's level. The operating margin improved to 2.9
percent.
In the first quarter of FY 2014, revenues in the Solutions business segment
were clearly reduced against the prior year at EUR 127.7m (2013: EUR
171.5m) as a result of the divestments made in 2013. While the activities
in Media and Retail were able to demonstrate a stable development, the
other activities were able to contribute positively based on higher volumes
with existing customers. The operating result remained at the prior year's
level at EUR 3.2m (2013: EUR 3.2m). During the first three months of FY
2014, positive one-off effects resulting from the sale of business
activities offset non-recurring expenses for cost reductions and capacity
adjustments. The operating margin of the business segment improved to 2.5
percent (2013: 1.9 percent).
The Air + Ocean business segment generated revenues of EUR 151.3m in the
first quarter of 2014, slightly above the previous year (2013: EUR 148.9m).
Volumes continued to be nicely in both air and ocean freight amid volatile
rates. The operating result of the business segment could be improved to
EUR 6.4m (2013: EUR 6.0m).
Due to expected seasonal effects, net cash flow came to EUR -7.8m in the
first quarter (2013: EUR -2.6m). Cash in excess of about EUR 50m resulted
in a net liquidity of 30.4m (2013: EUR 37.9m). Based on the positive net
result of EUR 5.4m (2013: EUR 4.6m), the equity ratio improved further to
27.5 percent (2013: 26.3 percent).
For the full year 2014, Logwin Group expects an improved result against the
prior year despite the volatile market environment and one-time expenses
for measures aiming at profitability increases.
The quarterly financial report 2014 of the Logwin Group is available on the
Internet at: www.logwin-logistics.com
About Logwin AG
Logwin AG (Grevenmacher, Luxembourg) provides efficient logistics and
transport solutions for its customers from industry and trade. In 2013, the
group generated sales of EUR 1.2bn and currently employs more than 4,300
staff. Logwin operates in all main markets worldwide and has over 200
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 AG, Bad Homburg (Germany).
Contact:
Dominique Simone Buhk
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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05.05.2014 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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266256 05.05.2014
DGAP-News: Logwin starts into the year 2014 with solid performance in line with expectations
| Source: EQS Group AG