Logwin group with improved results

Logwin profits from structural improvements in the Solutions segment and saw increase in sea freight exports from Europe

In the first nine months of the 2013 financial year, the Logwin group generated total revenues of EUR 932.4 million, which was below the figure for the prior year (2012: EUR 1,005.3 million). In the Air + Ocean segment this development is due to lower freight rates. Sales revenues in the Solutions segment were affected by location closures and the disposal of business operations focussed on land transportation.

Operating result (EBITA) before valuation effects and disposal of business activities improved to EUR 19.4 million (2012: EUR 16 million). The operating margin in the first nine months increased accordingly to 2.1 per cent (2012: 1.6 %). The net result for the period adjusted for impairments and disposal of business activities improved to EUR 10.1 million (2012: EUR 6.4 million).

Berndt-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin AG comments, „The improved result of the first three quarters confirms the stable development of the Logwin group. The measures at Solutions aimed at improving profitability are taking effect. At Air + Ocean we have already achieved a high level of quality and thus a satisfactory level of results. We are determined to continue this development in the interaction of the two business segments.“

Revenues for the business segment Solutions in the first nine months were EUR 470.7 million and thus below the figure for the prior year mainly as a result of the disposal and closure of locations at the functional unit Logistics and Warehousing (2012: EUR 524.7 million). The functional unit of Transport and Retail Networks was influenced by difficult conditions in the print media in the area of Media, by the discontinuation of unprofitable activities in the area of Retail but also by significant revenue growth in the core business of its retail network. Operating result before valuation effects and sale of business activities at the business segment Solutions amounted to EUR 2.4 million (2012: EUR 0.4 million).

In the first nine months of 2013, the Air + Ocean unit generated revenues of EUR 461.2 million, which was slightly below the level of the prior year owing to lower average freight rates over the year (2012: EUR 481.4 million). Compared with the prior year, sea freight volumes saw a pleasing increase, primarily as a result of exports from Europe and inner-Asian transportation. The increase exceeded market growth. Air freight volumes for the business segment and also for the market as a whole declined but have been rising slowly since the middle of the year. All in all, the business segment was able to increase its operating result slightly to EUR 20.9 million (2012: EUR 20.3 million).

www.logwin-logistics.com

Quelle: LogEastics
Portal: www.logistik-express.com