Logwin feels economic weakness

 
Logwin AG registers positive trend of road & rail division

At the Logwin AG the last weeks and months were characterised by a big decline in the number of orders, due to the weak economic situation. In its financial report on the first nine months of 2008, the Executive Board reported on a substantial decrease in turnover of individual projects for existing clients in the business unit „Solutions“ and a slump in growth dynamics a the Asian „Air & Ocean“-stations. The „Road & Rail“-division also showed substantial decreases in volume in the third quarter of 2008, as stated in the report. According to the outlook „regarding the customers behaviour, a substantial slow-down of the economy must be expected for the coming years as well“.

Between January and September 2008 the Logwin Group registered a turnover of EUR 1. 57 billion (+ 2.9 compared to 2007) and generated and operative result (EBIT) before restructuring and impairments (EUR 98 million) amounting to EUR 25 million. Hence the reference value of last year was failed. The „Solutions“-division registered a decline in results of EUR 9.5 million to EUR 11.6 million. The divisions „Air & Ocean“ and „Road & Rail“ improved their results to EUR 16.5 million and EUR 1.6 million, respectively.

Logwin AG, based in Grevenmacher (Luxemburg), acts as an external partner and develops integrated logistics and service solutions for costumers in trade and industry. The group employs about 8,700 persons at 400 locations in 44 countries, and achieved a turnover of EUR 2 billion last year. 

Quelle: Ă–sterreichische Verkehrszeitung

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