Logwin reports a pleasing start to the 2013 financial year

First positive effects at Logwin Solutions; Stable revenues and earnings Logwin at Air + Ocean
 
In their latest press release Logwin AG reports a pleasing start to the 2013 financial year. In the first quarter of the year the group generated total revenues of EUR 320.7 million, which was slightly below the figure for the prior year (2012: EUR 329.9 million). Operating result (EBIT) increased by EUR 1.9 million to EUR 8 million (2012: EUR 6.1 million). The net result improved to EUR 4.6 million (2012: EUR 2.9 million).
 
"Improved operating efficiency and reduced structural costs are showing their first positive effects at Solutions. We continue to be satisfied with the stable development at Air + Ocean in the face of difficult market conditions", Bernd-Michael Winter, Chairman of the Executive Committee (CEO) of Logwin AG comments on the business development between January and March 2013.
 
The business segment Solutions generated revenues of EUR 171.5 million in the first three months (2012: EUR 181.5 million). As to the functional unit Logistics and Warehousing, the positive development in terms of volume with particular customers was compensated by volume losses due to location closures. The functional unit Transport and Retail Networks faced in part lower production volumes in the reporting period compared with the prior year. In the reporting period, the operating result (EBIT) for the business segment Solutions increased to EUR 3.2 million (2012: EUR 1.3 million).
 
The revenues of the business segment Air + Ocean in the first quarter of 2013, at EUR 148.9 million, were at the same level as the prior year (2012: EUR 148.6 million). Air freight volume was below the figure for the previous year for the business segment Air + Ocean as well as for the market as a whole. However, sea freight volumes developed somewhat better than for the stagnating market. Freight rates were varied. Despite a restrained market situation in Asia, the overall earnings position is satisfactory. The business segment was able to maintain the same level of operating result (EBIT) of EUR 6 million in the first three months of 2013 as in the prior year.
 
Logwin AG, Grevenmacher (Luxembourg), develops comprehensive logistics and service solutions as an external partner for industry and trade. In 2012, the group generated revenues of EUR 1.3 billion and currently employs approximately 5,200 staff. Logwin operates in all main markets worldwide and has over 250 locations across all continents. With its two business segments Solutions (customer-focused contract logistics solutions) and Air + Ocean (global air and sea freight activities), Logwin AG is one of the leaders in the market.

Quelle: LogEastics

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