Logwin AG streamlines structures
The Executive Management of Logwin AG is reckoning with an intense competition for reduced transportation and logistics volumes. Against this background the group will continue to optimise internal processes and streamline structures, as Berndt-Michael Winter, Chairman of the Executive Committee, announced at the presentation of the annual report 2008. At Logwin AG the year 2008 was characterised by a decline in demands due to market conditions, particularly in the fourth quarter. This effected a significant decline of the results. Earnings before interest and taxes (EBIT), including one-off expenses of around EUR 5 million for the introduction of the Logwin brand, amounted to EUR 23.3 million (EUR 32 million in 2007). Turnover amounted to approximately the same level as last year EUR 2.046 billion (+ 0.2%). In total the group achieved a net result of minus EUR 100.9 million. This figure includes a goodwill impairment of EUR 98 million made in the third quarter of 2008. The Road + Rail segment was not able to achieve the aimed positive result due to the negative economic trend in the fourth quarter. Despite a 3.1 per cent increase to a turnover of EUR 837.5 million the operative result was once again a negative figure – minus EUR 2.4 million (2007: minus EUR 1.6 million). Turnover in the Solutions division dropped by 6.2 per cent to EUR 713 million due to the negative development in several key industries. The result fell from EUR 23.4 million in 2007 to EUR 9.1 million. The Air + Ocean business segment increased sales by 6 per cent to EUR 553.3 million, and the result from EUR 22.9 per cent to EUR 23.3 million. Logwin AG based in Grevenmacher (Luxemburg) acts as an external partner and develops holistic logistics and service solutions for trade and industry. The company currently has more than 8,600 employees at more than 400 locations in 45 countries on all continents. Quelle: Österreichische Verkehrszeitung |