DGAP-Adhoc

Logwin AG: Logwin increases sales and earnings again and adjusts forecast

DGAP-Ad-hoc: Logwin AG / Key word(s): Change in Forecast/9 Month figures Logwin AG: Logwin increases sales and earnings again and adjusts forecast 21-Oct-2021 / 19:01 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 increases sales and earnings again and adjusts forecast
 

Grevenmacher (Luxembourg) - The Logwin Group announces its preliminary nine-month 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 53.2 % to 1,260.9 million euros in the first nine months of 2021 (2020: 822.9 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 67.5 million euros in the first nine months of the current fiscal year (2020: 35.9 million euros), thus exceeding the previous year's result very significantly by 31.6 million euros. The Logwin Group's net profit for the period amounted to 52.4 million euros in the first nine months of 2021 (2020: 25.1 million euros).
 

Due to the even better overall sales and earnings development - compared to the forecast report in the Interim Financial Report as of 30 June 2021 - during the third quarter of 2021, the Logwin Group now expects strong sales growth to around 1.7 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 80 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). This adjusted forecast includes an adjustment to the operating earnings forecast (EBITA) for the business segment Solutions. Due to unexpected sales declines in parts of the logistics activities, sales and operating earnings (EBITA) for the fiscal year 2021 are expected to be below the prior-year figure taking into account possible one-off effects. 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.