DGAP-Adhoc

Logwin AG: Logwin continues significant increase in sales and earnings and adjusts forecast

DGAP-Ad-hoc: Logwin AG / Key word(s): Half Year Results Logwin AG: Logwin continues significant increase in sales and earnings and adjusts forecast 23-Jul-2021 / 10:05 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 (market abuse regulation)

Logwin continues significant increase in sales and earnings and adjusts forecast

Grevenmacher (Luxembourg) - The Logwin Group announces its preliminary half-year figures for 2021 and adjusts its forecast for the current financial year in view of the business developments that continue to exceed expectations.

Logwin Group's sales increased by 43.4 % to 771.1 million euros in the first half of 2021 (2020: 537.7 million euros). The main reason was the development in the business segment Air + Ocean with a good volume development and high freight rates in ocean and air freight. In terms of operating earnings (EBITA), the Logwin Group achieved 36.6 million euros in the first half of the current fiscal year (2020: 18.2 million euros), thus exceeding the previous year's result very significantly by 18.4 million euros. The Logwin Group's net profit for the period amounted to 27.7 million euros in the first six months of 2021 (2020: 12.6 million euros).

Due to the significantly better overall sales and earnings development in the first half of 2021 compared with the forecast report in the Annual Financial Report 2020, the Logwin Group now expects strong sales growth to around 1.5 billion euros for the full year 2021. The extent of the increase in sales continues to depend to a large extent on the further development of freight rates and volumes. Based on current developments, the Logwin Group's operating earnings (EBITA) will also increase significantly compared to the previous year and is expected to be in range of around 65 million euros. The net result for the period is also expected to increase significantly on the basis of the expected development of operating earnings (EBITA). The forecast is still subject to highly increased uncertainty due to the particular development of the market and competitive environment and the possible effects of measures to combat the global pandemic.