DGAP-Adhoc Logwin AG: Logwin with change in forecast after solid development in 2020
DGAP-Ad-hoc: Logwin AG / Key word(s): Change in Forecast
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Logwin with change in forecast after solid development in 2020
Despite a decline in sales compared with the previous year, the Logwin Group based on preliminary figures achieved an operating result (EBITA) of EUR 35.9 million in the first nine months of 2020, only EUR 2.5 million lower than in the previous year (2019: EUR 38.4 million). The preliminary net income after nine months was at EUR 25.1 million (2019: EUR 28.2 million). The business segment Air + Ocean almost reached the previous year's level of its operating result (EBITA). In contrast, earnings at the business segment Solutions fell significantly short of the previous year's level.
For the business segment Solutions, which is more strongly affected by the uncertainties of the current development of the Covid 19 pandemic, the Company continues to expect a significant decline in operating profit (EBITA) for the full year 2020. However, due to the overall robust development of the business segment Air + Ocean in the course of the year to date, operating earnings (EBITA) for this business segment are now expected to be at the level of the previous year instead of the previous significant decline. Compared to forecast as adjusted on April 22, 2020 Logwin Group expects an according overall improvement in operating earnings (EBITA) and net income for the full year 2020 falling short of the previous year's figure. The forecast uncertainty continues to remain very high.