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DGAP-News: Logwin AG
/ Key word(s): Half Year Results
Logwin with a respectable development in the first half of 2020 in view of the Covid 19 pandemic Grevenmacher (Luxembourg) - The first half of 2020 was marked for the Logwin Group as well worldwide by the Covid 19 pandemic. Logwin responded to the pandemic with a wide range of measures to protect above all the health of its employees and secure its customers' supply chains. In addition, sales and operating earnings were supported by a number of measures such as the establishment of home offices and short-time work. By means of these measures in the first half of 2020, sales of EUR 537.7m (2019: EUR 560.1m) and an operating result (EBITA) of EUR 18.2m (2019: EUR 23.9m) were achieved. The operating margin of 3.4 % is a respectable development in view of the global restrictions caused by the Covid 19 pandemic. The business segment Air + Ocean even achieved a slight increase overall increase in sales to EUR 379.9m (2019: EUR 370.2m). Declining volumes in air and sea freight were offset by significantly higher freight rates. The operating result of the business segment Air + Ocean fell by EUR 2.1m to EUR 19.9m (2019: EUR 22.0m) due to lower volumes. In the first half of 2020 the business segment Solutions recorded a significant decline in sales to EUR 157.8m (2019: EUR 189.9m), which was mainly due to the sharp decline in volumes in the transportation network. Retail store closures and their only gradual release, as well as the continued reluctance of customers in view of the uncertainties about the further course of the Covid 19 pandemic, weighed heavily on the development. In addition, terminated customer deals and the sale of a contract logistics location contributed to the decline in sales. In view of these developments, the business segment Solutions recorded an operating result of EUR 1.8m (2019: EUR 5.5m). At EUR 12.6m, net income for the period in fact was lower than in the previous year (2019: EUR 17.8m) due to the decline in operating earnings. The equity ratio however increased from 35.5 % to 38.7 % as of 30 June 2020, due to the significant decrease in total assets. Compared to the previous year, the operating cash flow, which is influenced by seasonal factors, improved significantly and reached EUR 7.3m (2019: EUR -2.9m). Net liquidity amounted to EUR 45.1m as of 30 June 2020 (2019: EUR 72.9m). This includes the distribution to shareholders of a total of EUR 10.1m resolved by the Annual General Meeting, which corresponds to EUR 3.50 per share.
The aforementioned key performance indicators (KPIs) are an integral part of Logwin Group's system of key figures and are described and defined in the section "Financial Performance Management" of the management report of the annual financial report 2019 in line with the European Securities and Markets Authority's (ESMA) Guidelines on Alternative Performance Measures (APM) dated 5 October 2015. The Quarterly Statement as of 30 June 2020 of Logwin Group is available on the internet at:
Logwin AG is listed in the Prime Standard of the Deutsche Börse. The majority shareholder is DELTON Logistics S.à r.l., Grevenmacher (Luxembourg). Contact: www.logwin-logistics.com Sebastian Esser Additional features: File: Logwin_Press Release_Q2_2020
31.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Logwin AG |
| an de Längten 5 | |
| L-6776 Grevenmacher | |
| Luxemburg | |
| Phone: | +352 719 690 0 |
| Fax: | +352 719 690 1359 |
| E-mail: | ir-info@logwin-logistics.com |
| Internet: | www.logwin-logistics.com |
| ISIN: | LU1618151879 |
| WKN: | A2DR54 |
| Indices: | Prime All Share (PXAP), Classic All Share (CLXP), DAXsector All Transportation & Logistics (4N87), DAXsector Transportation & Logistics (CXPL), DAXsubsector All Logistics (4N99), DAXsubsector Logistics (I1LB) |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1107565 |
| End of News | DGAP News Service |
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1107565 31.07.2020
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