DGAP-News

Logwin AG: Logwin continues to perform well: Significant increase in revenue and earnings in the first quarter - Seite 2

 

Net assets, financial situation and earnings position
 

Revenues Revenues of the Logwin Group increased by 34.4 % to EUR 363.9 million (2020: EUR 270.8 million) in the first three months of 2021. The business segment Air + Ocean generated sales of EUR 288.5 million, significantly higher than the previous year by EUR 108.0 million (2020: EUR 180.5 million), due to high freight rates in ocean freight and air freight and due to recovering volumes compared with the first quarter of 2020. However the Solutions business segment, on the other hand, reported sales of EUR 75.5 million, considerably down on the previous year's figure of EUR 90.4 million, mainly due to the impact of the COVID 19 pandemic on network activities for the retail sector and planned declines in contract logistics
 

EBITA In total the Logwin Group generated an operating result of EUR 16.4 million in the first three months of 2021, exceeding the previous year's result by EUR 7.0 million. The business segment Air + Ocean was significantly above the previous year's level due to recovering volumes in ocean freight and air freight and was also able to benefit from current market conditions. The operating result (EBITA) of the business segment Solutions in the first quarter of 2021 was below the prior-year figure. This was positively impacted by a special effect in connection with the disposal of a site in Germany. The impact of the COVID 19 pandemic on network activities burdened earnings in the first quarter of 2021.

Net result The net result of the Logwin Group amounted to EUR 12.5 million in the first three months of 2021 (2020: EUR 6.1 million). In addition to the significant increase in operating profit, an improved financial result contributed to the rise in earnings.
 

Free cash flow The Logwin Group's free cash flow after the first three months of 2021 was significantly higher than the comparative figure for the first quarter of 2020, in particular due to the improved development of working capital and the development of operating earnings. The overall financial situation and liquidity of the Logwin Group remain pleasing.