Jump in turnover of Logwin’s Air + Ocean division
Logwin group registers clear growth in sales and results in the first half of 2010 The Logwin group picks up speed. In its continuing business operations the enterprise achieved sales of EUR 649.5 million in the period from January to June. This represents an increase of 20.7 per cent in comparison with last year. Operating income (EBIT) amounted to EUR 10.1 million, after EUR 2.9 million in the first six months of 2009. The growth driver was the Air + Ocean business segment with a sales increase of 54.5 per cent to EUR 309.5 million. 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 per cent to EUR 9.9 million. The operating margin reached 3.2 per cent. The Solutions segment maintained its sales on a stable level in the first half of 2010 at EUR 339.7 million. 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 EUR 3.5 million, the operating result (EBIT) was significantly above the negative result of the same period last year (minus EUR 1.2 million). As a result, the operating margin reached 1 per cent. Berndt-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin AG: “Our focus on Solutions and Air + Ocean starts to bear fruit, and we are benefiting from the recovery in the economy. 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.” Logwin AG employs currently approximately 5,500 employees. Quelle: LogEastics |