Logwin AG posts moderate growth
Logwin achieved a strong increase in air freight volume in the first half of the year 2011 and in the Transport and Retail Networks division:
In the first six months the Logwin group achieved a considerable improvement in results compared to the period January to June 2010. Net earnings amounting to EUR 3.6 million were clearly positive, after EUR -3.4 million in 2010, as CEO Berndt-Michael Winter announced yesterday. Sales in the reporting period rose 1.5 per cent to EUR 659.4 million. The EBIT margin climbed to 1.9 per cent (2010: 1.6 %). Logwin AG’s equity ratio climbed to 37.1 per cent (December 31, 2010: 32.6 %).
The business segment Solutions generated sales of EUR 351.2 million in the first half of 2011, increasing sales over the previous year slightly by 3.4 per cent. Transport and Retail Networks in particular achieved significantly higher levels of sales while contract logistics activities remained stable. However, rising freight rates impacted earnings in the first six months of the year. At EUR 2.9 million, operating income (EBIT) was below the figure for the previous year (2010: EUR 3.5 million). The figure for the comparative period in 2010, however, included proceeds of EUR 0.7 million from the sale of fringe activities.
Sales at the business segment Air + Ocean amounted to EUR 308.4 million, almost equaling the level for the same period of the previous year (2010: EUR 309.5 million). Although a distinct increase in volumes was achieved in air freight, sea freight volumes largely remained at the same level as last year while freight rates declined. Operating income (EBIT) increased in the first six months of 2011 by EUR 2.5 million over the previous year to EUR 12.4 million (2010: EUR 9.9 million). The improvement in earnings was mainly due to growth at business units Europe Middle East and Far East Asia.
Logwin AG, Grevenmacher (Luxemburg), develops holistic logistics and service solutions for trade and industry as an external partner. The group generated a turnover of EUR 1.4 billion in 2010 and has currently more than 5,600 employees. Logwin runs locations at around 250 places on all continents.
Quelle: LogEastics
Portal: www.logistik-express.com