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Logwin AG: Quarterly statement - Logwin with positive earnings development (news with additional features)
DGAP-News: Logwin AG / Key word(s): Quarterly / Interim Statement/9-month
figures
Logwin AG: Quarterly statement - Logwin with positive earnings development
(news with additional features)
27.10.2016 / 06:28
The issuer is solely responsible for the content of this announcement.
figures
Logwin AG: Quarterly statement - Logwin with positive earnings development
(news with additional features)
27.10.2016 / 06:28
The issuer is solely responsible for the content of this announcement.
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Quarterly statement - Logwin with positive earnings development
Overall economic conditions
Grevenmacher (Luxembourg) - In the third quarter the global economy
continued to develop moderately. While the situation in the emerging
markets stabilized, the economic momentum in the advanced economies has
slowed slightly. In the year 2016 to date, the German logistics sector also
grew slightly on the back of the general economic development, but still
suffers from a strained competitive situation.
Net assets, financial situation and earnings position
Revenues In the first nine months of 2016, the Logwin Group achieved
revenues of EUR 732.5m, down 9.0% on the prior-year figure of EUR 805.1m.
The Air + Ocean business segment generated revenues of EUR 455.0m which
were EUR 56.3m below the previous year. Despite an increase in the air and
ocean freight volumes above the market level, the prior-year turnover could
not be achieved due to lowering freight rates as well as negative currency
effects. In the first three quarters the Solutions business segment
achieved revenues of EUR 279.4m in a still challenging market environment
and was therefore down on the previous year's figure of EUR 292.4m due to
declining prices and changed revenue structure.
EBITA Despite the decline in revenues in the first nine months of 2016, the
Logwin Group exceeded with an operating result (EBITA) of EUR 30.6m the
previous year figure by EUR 3.3m and thus reached a satisfactory level. The
Solutions business segment improved its prior-year result mainly due to an
increase in gross profit with an accompanying reduction in selling, general
and administrative costs. The Air + Ocean business segment was able to
confirm the customer success of the preceding periods and could therefore
slightly improve the operating result once again.
Net result In the first three quarters of 2016, the Logwin Group's net
result rose from EUR 18.2m to
EUR 22.4m. In addition to the improvement in the operating result compared
to the prior year, lower finance expenses as well as positive special
effects in the income taxes were included.
Net cash flow In the third quarter of 2016, the net cash flow of the Logwin
Group was below the prior year's level. This decline results from the
investing cash flow and is attributable to proceeds from disposal of
Quarterly statement - Logwin with positive earnings development
Overall economic conditions
Grevenmacher (Luxembourg) - In the third quarter the global economy
continued to develop moderately. While the situation in the emerging
markets stabilized, the economic momentum in the advanced economies has
slowed slightly. In the year 2016 to date, the German logistics sector also
grew slightly on the back of the general economic development, but still
suffers from a strained competitive situation.
Net assets, financial situation and earnings position
Revenues In the first nine months of 2016, the Logwin Group achieved
revenues of EUR 732.5m, down 9.0% on the prior-year figure of EUR 805.1m.
The Air + Ocean business segment generated revenues of EUR 455.0m which
were EUR 56.3m below the previous year. Despite an increase in the air and
ocean freight volumes above the market level, the prior-year turnover could
not be achieved due to lowering freight rates as well as negative currency
effects. In the first three quarters the Solutions business segment
achieved revenues of EUR 279.4m in a still challenging market environment
and was therefore down on the previous year's figure of EUR 292.4m due to
declining prices and changed revenue structure.
EBITA Despite the decline in revenues in the first nine months of 2016, the
Logwin Group exceeded with an operating result (EBITA) of EUR 30.6m the
previous year figure by EUR 3.3m and thus reached a satisfactory level. The
Solutions business segment improved its prior-year result mainly due to an
increase in gross profit with an accompanying reduction in selling, general
and administrative costs. The Air + Ocean business segment was able to
confirm the customer success of the preceding periods and could therefore
slightly improve the operating result once again.
Net result In the first three quarters of 2016, the Logwin Group's net
result rose from EUR 18.2m to
EUR 22.4m. In addition to the improvement in the operating result compared
to the prior year, lower finance expenses as well as positive special
effects in the income taxes were included.
Net cash flow In the third quarter of 2016, the net cash flow of the Logwin
Group was below the prior year's level. This decline results from the
investing cash flow and is attributable to proceeds from disposal of
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