DGAP-News: Logwin AG / Key word(s): Quarter Results
Logwin AG: TEST TEST
09.05.2012 / 06:59
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Logwin: high costs of transportation impact first quarter result
- Sales: 329.9 million euros / Operating income: 6.1 million euros
- Solutions: reduction in structural costs to increase efficiency
- Air + Ocean: stable income with declining sales due to freight rates
- Net result: 2.9 million euros
Grevenmacher (Luxembourg) - The Logwin Group generated sales of 329.9
million euros in the first quarter of 2012. This represents an increase of
1.9 % over the previous year's figure (2011: 336.3 million euros).
Operating income (EBIT) in the reporting period amounted to 6.1 million
euros and was thus 2.3 million euros below the figure for the previous year
(2011: 8.4 million euros). There was a corresponding decline in the EBIT
margin to 1.8 %. Net financial result once more improved to -1.7 million
euros (2011: -2.6 million euros). Overall, the Logwin Group concluded the
first quarter of 2012 with a net result of 2.9 million euros (2011: 3.4
million euros).
Berndt-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin
AG comments, 'We cannot be satisfied with the result in the first quarter.
Performance at Solutions was disappointing due to the extremely high costs
of transport and it did not come up to our expectations. We will therefore
get the business segment on track through targeted measures aimed at
reducing administrative costs and increasing operational efficiency. One
example of these is the long-term framework agreement with DTL aimed at
improving the utilisation of our retail network. Air + Ocean again showed
solid business performance, which we also expect to see through the rest of
the year.'
The business segment Solutions generated sales of 181.5 million euros in
the first three months, which represented a slight increase (2011: 180.7
million euros). The functional unit Logistics and Warehousing experienced
positive growth and higher volumes than last year, particularly in
activities in the region Central and Eastern Europe. The General Cargo unit
also achieved moderately positive growth. Retail Network, part of the
functional unit Transport and Retail Networks, similarly reported a slight
growth in sales, while the Media unit was faced with falling volumes.
Operating income (EBIT) for the reporting period totalled 1.3 million euros
(2011: 4.2 million euros). Increased fuel and transportation costs had a
significant impact on this. Expenses incurred for measures aimed at
reducing structural costs and increasing efficiency and productivity at the
business segment also affected operating income.
At the business segment Air + Ocean sales declined compared with the
previous year to 148.6 million euros due to continuing lower freight rates
(2011: 155.7 million euros). Despite lower sales, the previous year's
performance level could be maintained. The business segment achieved
operating income (EBIT) of 6.0 million euros in the first three months of
2012, also assisted by special effects (2011: 5.9 million euros). Asian
business units in particular showed pleasing development in the first
quarter.
Outlook
The Logwin Group assumes that there will be continued recovery in the
German and global economies in the current year. This should have a positive
effect on business volumes and consequently on sales. The Logwin Group
expects stable earnings for 2012 compared with last year and has already
initiated measures aimed at reducing costs and improving profitability,
particularly in the business segment Solutions. Their implementation will
shape performance at the business segment Solutions in the current year. The
business segment Air + Ocean anticipates continuing robust business
development with increasing freight rates over the course of the year.
Moreover, reduced interest expenses will also have a positive effect.
The quarterly financial report 2012 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 2011,
the group generated sales of 1.3 billion euros and currently employs
approximately 5,800 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:
Dominique Simone Klopp
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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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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168308 09.05.2012
DGAP-News: Logwin AG: TEST TEST
| Quelle: EQS Group AG