Logwin AG / Half Year Results
04.08.2010 06:59
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Logwin picks up speed - Clear sales and earnings growth in the first six
months
- Continuing business operations: sales 649.5 million euros; EBIT 10.1
million euros
Grevenmacher (Luxembourg) - The Logwin Group built on its positive start to
2010, generating sales of 649.5 million euros in its continuing business
operations in the first six months. This represents an increase of 20.7 %
in comparison with last year. (2009: 538.1 million euros).
The new corporate structure as well as the economic recovery and continuing
process optimization all had a positive effect on the result. Operating
income (EBIT) amounted to 10.1 million euros, which was significantly above
the previous year (2009: 2.9 million euros).
Berndt-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin
AG: 'Logwin clearly picked up speed in the first half year. Our focus on
Solutions and Air + Ocean is bearing fruit, and we are benefiting from the
recovery in the economy. We will continue to improve our productivity
further in order to sustain this pleasing business development. In line
with current economic forecasts, we expect positive sales growth for the
financial year, supported in particular by Air + Ocean and the
industry-oriented fields within Solutions.'
The business segment Solutions generated sales of 339.7 million euros in
the first six months of 2010 in line with those last year. General cargo,
automotive and chemicals activities in particular benefited from the
improving economic situation in industry-related sectors. In contrast,
volume growth in the Fashion and Media special networks continued to be
subdued. At 3.5 million euros, operating result (EBIT) was significantly
above the negative result of the same period last year (-1.2 million
euros). As a result, the operating margin reached 1.0 %.
The business segment Air + Ocean increased its sales in the reporting
period compared with the previous year by 54.5 % to 309.5 million euros
(2009: 200.3 million euros). Besides increased customer demand, this growth
in sales could be attributed to the strong rise in air and sea freight
rates. Major impulses came from the business units Europe Middle East, Far
East Asia and South East Asia. Operating result increased by 44.0 % to 9.9
million euros (2009: 6.9 million euros). The operating margin reached 3.2
%.
The operating cash flow of the continuing business segments of the Logwin
Group amounted to 1.2 million euros at the end of the reporting period
(2009: 1.6 million euros). As a result of the increased volume of business,
there was an increase in trade receivables within working capital, which
resulted in a decline in operating cash flow compared to the value for the
previous year.
The half-year financial report 2010 of the Logwin Group is available on the
Internet under: www.logwin-logistics.com
About Logwin AG
As an external partner, Logwin AG, Grevenmacher (Luxembourg), develops a
comprehensive range of logistics and service solutions for trade and
industry. In 2009, the group generated sales of 1.1 billion euros and
currently employs approximately 5,500 staff . Logwin operates in all main
markets worldwide and has 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).
Kontakt:
Mara Hancker, Head of Public Relations
P: 00352/719690-1353, F: 00352/719690-1359
pr-info@logwin-logistics.com
Peer Brauer, Head of Investor Relations
P: 00352/719690-1112, F: 00352/719690-1359
ir-info@logwin-logistics.com
04.08.2010 06:59 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Logwin AG
an de Längten 5
L-6776 Grevenmacher
Luxemburg
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, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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DGAP-News: Logwin picks up speed - Clear sales and earnings growth in the first six months
| Source: EQS Group AG