Logwin planning further process optimisation
| Logwin Group recorded substantial decline in turnover Logwin AG responds to the current economic crisis by consequently continuing its programme to cut costs and increase efficiency. “In view of the economic recovery that is not yet in sight we will continue our current measures consequently and we will further optimise processes. This is based on a partnership with our customers“, said Berndt-Michael Winter, Chairman of the Executive Committee. With a turnover of EUR 405.3 million in the first three months of 2009, Logwin Group failed the figure of the previous year by 22.6 per cent. Earnings before interests and taxes (EBIT) was slightly positive with EUR 0.1 million (2008: EUR 10.8 million). Net profit was minus EUR 6.3 million. Mr. Winter emphasises the positive development of the operative cash flow, which "points out the financial stability of the company“ from his point of view. In the “Solutions”-unit Logwin achieved a turnover of EUR 148.1 million between January and March (minus 21.3%) and a result of EUR 3.2 million. The business unit “Air + Ocean” reported a turnover of EUR 105.5 million (minus 22.9%) and a result of EUR 4 million. As for the “Road + Rail”-unit insufficient use of capacities and less demand were hiding first effects of the broad cost-cutting measures. In comparison to the previous year turnover plummeted 22.5 per cent to EUR 163.9 million. EBIT declined from minus EUR 0.5 million in the first three months of 2008 to minus EUR 5.9 million. Logwin, based in Grevenmacher (Luxemburg) employs more than 8,600 persons at more than 400 locations in 45 countries. Quelle: Österreichische Verkehrszeitung |