DGAP-News: Logwin AG / Key word(s): Interim Report/Quarterly / Interim
Statement
Logwin AG: Quarterly statement as of 31 March 2016 (news with additional
features)
28.04.2016 / 10:02
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Quarterly statement as of 31 March 2016
Overall economic condition
Grevenmacher (Luxembourg) - The economic conditions for the Logwin Group
have not changed compared to the year-end 2015. Global economic growth
remains stable at a subdued level. The German economy was able to maintain
the moderate expansion of the second half of the year 2015. The logistics
sector was still characterized by challenging market condition in the first
quarter of 2016.
Net assets, financial situation and earnings position
Revenues In the first quarter of 2016, Logwin Group achieved revenues of
EUR 245.9m, down -10.4% on the prior-year figure of EUR 274.4m. The
quarterly revenues of the business segment Air + Ocean amounted to
EUR 151.0m and were especially due to the very low freight rates EUR 21.2m
below the previous year's figure of EUR 172.2m. The business segment
Solutions generated revenues of EUR 95.6m in the first quarter of 2016,
well below the revenues level of the comparative period of EUR 101.8m. The
reason were challenging market conditions as well as the impact from
structural measures, such as the scheduled discontinuation of business
activities completed during the 2015.
EBITA Despite the low revenues, the operating result of the Logwin Group
was on a satisfactory level and in line with expectations in the first
three months of 2016. The prior-year result could not be achieved due to
the positive one-off effects from the sale of an activity in the business
segment Solutions in the previous year. On the other hand an overall
reduction in selling, general and administrative costs and an increase in
gross profit compensated partially for the decline in reported EBITA in the
first quarter of 2016. The business segment Air + Ocean was able to exceed
the prior-year level EBITA in the first three months of 2016.
Net result In the first quarter the Logwin Group's net result was slightly
below the prior-year's level.
Net cash flow In the first three month of 2016, the seasonally varying net
cashflow of the Logwin Group was below prior year due to changes in working
capital. The deviation results on the one hand from end-of-period effects
as well as proceeds from disposal of business operations which had
influenced the investing cash flows positively in 2015.
Treasury shares The Board of Directors of the Logwin AG resolved on 29
February 2016 under existing authorizations to begin a share buyback. The
information on shares acquired under the buyback program can be followed at
http://www.logwin-logistics.com/company/investors/share/share-buyback-prog
ram.html.
Risks and change in forecast report
Compared to the disclosures in the annual financial report 2015, the risk
situation of the Logwin Group has not changed significantly in the first
quarter of 2016. We therefore refer to the 2015 risk report for further
details on current and potential risks.
With regards to the opportunities and outlook of the Financial Report 2015,
no changes have occured.
The quarterly statement as of 31 March 2016 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 2015, the
group generated sales of EUR 1.1bn and currently employs about 4,200 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 AG, Bad Homburg (Germany).
Contact: www.logwin-logistics.com
Sebastian Esser
Chief Financial Officer
Phone: +352 719690-1112
sebastian.esser@logwin-logistics.com
Logwin AG | ZIR Potaschberg | 5, an de Längten | 6776 Grevenmacher |
Luxemburg | www.logwin-logistics.com
Contact:
Public Relations
P: 00352/719690-1354
F: 00352/719690-1359
pr-info@logwin-logistics.com
+++++
Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=AQAMFEKNDG
Document title: Quarterly statement as of 31 March 2016
---------------------------------------------------------------------------
28.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News Service
---------------------------------------------------------------------------
458573 28.04.2016
DGAP-News: Logwin AG: Quarterly statement as of 31 March 2016 (news with additional features)
| Source: EQS Group AG