Significant increases in sales and earnings with Logwin
Logwin group expects stable growth in business volumes and sales revenues for 2011
2010 was a goods business year for the Logwin group with its headquarters in Grevenmacher (Luxemburg). Turnover improved by 21.9 per cent compared to the previous year to EUR 1.356 billion. The operating result (EBIT) amount to EUR 24.1 million, which is considerably above last year’s figure (2009: EUR 9.7 million). EBIT margin doubled to 1.8 per cent. The business segment Solutions generated sales of EUR 689.7 million, which was largely in line with the previous year (2009: EUR 690.4 million). Operating result (EBIT) increased significantly from EUR 1.0 million in 2009 to EUR 8.1 million. The business segment Air + Ocean generated sales of EUR 666.7 million in the 2010 financial year (2009: EUR 423.9 million) and was thus able to build on the positive sales development reported before the financial and economic crisis. This was due in particular to the strong rise in customer demand with pleasing volume growth in air and sea freight and significant increases in freight rates. “This was due in particular to the strong rise in customer demand with pleasing volume growth in air and sea freight and significant increases in freight rates,” the management reports. Operating income (EBIT) amounted to EUR 22.7 million (2009: EUR 14.2 million). The rise in earnings is mainly due to increased volumes between Asia and Europe. The Logwin group assumes that growth in business volumes and hence sales will be stable in 2011. The future performance of the business segment Solutions will be largely characterized by further developing business with existing customers combined with a systematic expansion of profitable business with new customers. The business segment Air + Ocean assumes a moderate rise in freight volumes for 2011, with freight rates remaining stable. As an external partner, Logwin AG, Grevenmacher (Luxembourg), develops a comprehensive range of logistics and service solutions for trade and industry. The group currently employs over 5,600 staff at around 250 locations across all continents. Its activities are divided into two business segments Solutions (customer-focused contract logistics solutions) and Air + Ocean (global air and sea freight activities). Quelle: LogEastics |