DGAP-News

Logwin AG: Logwin closes financial year 2014 successfully (news with additional features)

DGAP-News: Logwin AG / Key word(s): Final Results
Logwin AG: Logwin closes financial year 2014 successfully (news with
additional features)

04.03.2015 / 18:44

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Logwin closes financial year 2014 successfully

Grevenmacher (Luxembourg) - The Logwin Group had a successful year 2014:
Operating result (EBITA) rose to EUR 25.1m in financial year 2014 (2013:
EUR 12.0m). The decline in consolidated sales from EUR 1,219.7m in the
prior year to EUR 1,129.4m in 2014 is in line with expectations due to the
divestments made in the prior year. The financial strength of Logwin is
further demonstrated by a net liquidity of EUR 50.8m. Both business
segments Solutions and
Air + Ocean contributed to the significant improvement in operating
results.

The Air + Ocean business segment generated revenues of EUR 648.1m in 2014
and thus achieved a very pleasing growth of 4.8% (2013: EUR 618.1m).
Encouraging growth rates were recorded particularly in the sea freight. The
business segment Air + Ocean improved its operating result by 15.2% to
EUR 31.2m (2013: EUR 27.1m), increasing the operating margin to 4.8% (2013:
4.4%). An especially strong improvement in margins was achieved in the
South East Asia region.

At EUR 479.5m, revenues in the Solutions business segment were below the
prior-year figure of EUR 600.6m und thus in line with expectations. The
decrease was a result of the disposals and site closures carried out in the
prior year. The operating result of the business segment improved to EUR
3.6m as - unlike the previous year - there was no significant net impact
from non-recurring expenses and the focus on core activities started to pay
off (2013: EUR -5.8m). The operating margin amounted to 0.8% (2013: -1.0%).

The improvement in results is the driver for the further enhancement of the
Logwin Group's financial strength. On the basis of cash and cash
equivalents of EUR 67.0m (31 December 2013: EUR 58.6m), the Logwin Group
reported a net liquidity of EUR 50.8m as of 31 December 2014 (31 December
2013: EUR 37.9m). Buoyed by the positive net result of EUR 13.8m (2013: EUR
-2.9m), the equity ratio increased to 27.9% (31 December 2013: 26.3%).

In 2015, the Group expects moderate growth for both business segments due