DGAP-News: Half-Year Financial Report 2013: Logwin confirms solid development
(firmenpresse) - DGAP-News: Logwin AG / Key word(s): Half Year Results
Half-Year Financial Report 2013: Logwin confirms solid development
05.08.2013 / 07:38
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Half-Year Financial Report 2013:
Logwin confirms solid development
- Revenues: 622.8 million euros / Operating result: 12.0 million euros
- Continuing stable profitability at Air + Ocean
- Improved operating result at Solutions
- Pleasing financial situation with continuing positive net liquidity
Grevenmacher (Luxembourg) - The Logwin Group generated total revenues of
622.8 million euros in the first half of the 2013 financial year, which was
thus slightly below the figure for the prior year (2012: 652.7 million
euros). This development can be attributed to lower freight rates at Air +
Ocean as well as location closures together with the disposal of business
activities at Solutions. Operating result (EBITA) before disposals of
goodwill improved to 12.0 million euros (2012: 7.6 million euros). The
operating margin in the first half year increased accordingly to 1.9 %
(2012: 1.2 %).
In the first six months, Logwin disposed of partly very large Solutions
locations with a focus on land transportation. This also incurred goodwill
impairment for the business segment Solutions totalling -4.0 million euros.
Net result before interest and income taxes (EBIT) amounted to 6.7 million
euros (2012: -45.9 million euros). EBIT in the prior year included
impairments totalling -53.0 million euros.
The net result for the period adjusted for impairments and disposals
improved to 5.7 million euros (2012: 2.6 million euros). At -3.2 million
euros, the financial result is at the same level as the prior year (2012:
-3.2 million euros). The pleasing financial situation of the Logwin Group
is also evidenced by the continuing positive net liquidity of 12.7 million
euros (December 31, 2012: 7.2 million euros).
Berndt-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin
AG comments, 'Our aim is and remains a level of profitability that is in
line with the industry and that provides an adequate return for the
demanding services that we provide - for all of Logwin's activities. In the
first six months of 2013 we took further steps towards achieving this goal.
Our concerted efforts and measures aimed at improving profitability are
having an effect. Thanks to the high quality of its services Air + Ocean
has been able to maintain the already pleasing level of results in a
volatile environment.'
The business segment Solutions generated revenues of 324.4 million euros in
the first half (2012: 343.9 million euros). The functional unit Logistics
and Warehousing was able to achieve significant increases in volume with
its activities in Austria, which were however largely cancelled out by
volume declines resulting from the closure of individual locations in
Germany and Turkey. The functional unit Transport and Retail Networks was
impacted by decreased production quantities at a number of locations. The
operating result for the business segment Solutions increased to 2.5
million euros (2012: -2.2 million euros).
The business segment Air + Ocean reported revenues of 298.1 million euros
in the first half of 2013, which was slightly below the level of the prior
year largely due to generally reduced freight rates (2012: 309.6 million
euros). The volume of sea freight increased compared with the prior year
despite stagnation in the overall market. Air freight volume was below the
figure for the prior year for the business segment Air + Ocean as well as
for the market as a whole. The operating income of the business segment was
influenced by the weak economic situation in Asia. In contrast, the South
American regions experienced pleasing growth. All in all, the business
segment was able to increase its operating result slightly to 12.2 million
euros (2012: 12.1 million euros).
The 2013 half-year financial report 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 revenues of 1.3 billion euros and currently employs
approximately 4,800 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: www.logwin-logistics.com
Mara Hancker
Public Relations
Phone: +352 719690-1354
Fax: +352 719690-1359
pr-info(at)logwin-logistics.com
Dr. Karl-Heinz Kramer
Investor Relations
Phone: +352 719690-1112
Fax: +352 719690-1359
ir-info(at)logwin-logistics.com
Logwin AG | ZIR Potaschberg | 5, an de Laengten | 6776 Grevenmacher |
Luxembourg
End of Corporate News
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05.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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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(at)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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224130 05.08.2013
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Datum: 05.08.2013 - 07:38 Uhr
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