DGAP-News

Logwin AG: Logwin continues to perform well: Significant increase in revenue and earnings in the first quarter

DGAP-News: Logwin AG / Key word(s): Quarterly / Interim Statement Logwin AG: Logwin continues to perform well: Significant increase in revenue and earnings in the first quarter (news with additional features) 30.04.2021 / 10:27 The issuer is solely responsible for the content of this announcement. Overall economic conditions

Grevenmacher (Luxembourg) - The development of the global economy in the first quarter of 2021 is characterized by a continued recovery in economic activity. Industrial production and global trade have now almost fully recovered from the slump in the first quarter of 2020, notwithstanding the ongoing global spread of the COVID 19 pandemic. The recovery in industrial production was particularly strong in China and the Asian economies. In the euro zone and the United States, the recovery is still subdued. A strong recovery in the global economy and world trade is expected for the year as a whole.
 

Still significantly below the level of previous years is the development in the services sector, which continued to be overall strongly negatively affected by the measures to combat the spread of the COVID 19 virus. In the consumer-related services sector and in particular the retail sector, economic activity declined again in the first quarter and a recovery to pre-crisis levels is not expected until the end of the year.
 

In this respect, the overall economic conditions affect the development of the Logwin Group in different ways. In the Air + Ocean business segment, the recovery in global trade with capacities remaining tight is having a positive effect. The measures to combat the pandemic are having a significant impact on the stationary retail trade and private consumption, which is an important market for Logwin. The further progress of the vaccination campaigns and the expected withdrawal of public restrictions will determine the course of the expected economic recovery and the impact on customers in the Solutions business segment.