Logwin with Significant Revenue and Earnings Increase

The Logwin Group achieved a revenue of 1,168.7 million euros in the first six months of the 2022 financial year, significantly exceeding the previous year’s revenue of 771.1 million euros. This development is attributed to high freight rates in air and sea freight as well as volume increases in the Solutions business segment.

(Grevenmacher) The Logwin Group was able to benefit from the global economic recovery effects in the first half of 2022 against the backdrop of a market environment still significantly characterized by capacity bottlenecks and sharply rising inflation rates, and significantly increase its operating result (EBITA).

The operating result (EBITA) of the Logwin Group in the first half of 2022 was 71.8 million euros, significantly exceeding the previous year’s result of 36.6 million euros. This extraordinary increase was mainly contributed by the Air + Ocean business segment, which achieved an operating half-year result (EBITA) of 70.3 million euros, an increase of 31.6 million euros (2021: 38.7 million euros). In the Solutions business segment, a positive special effect led to an increase in earnings to 7.5 million euros (2021: 3.8 million euros). The period result was also significantly above the previous year’s result at 41.0 million euros, compared to 27.7 million euros the year before. This includes an interest-related impairment expense of goodwill amounting to 11.7 million euros.

Profit Forecast Raised

In the first two quarters of the current year, the Logwin Group achieved a very pleasing free cash flow of 42.2 million euros (2021: 13.7 million euros) based on the good earnings development. As of June 30, 2022, net liquidity amounted to 200.3 million euros, exceeding the level at the end of the previous year (2021: 168.4 million euros).

Compared to the information in the 2021 annual financial report, the Logwin Group raised its forecast for revenue and earnings development for 2022 with the ad hoc announcement on June 10, 2022. Accordingly, the Logwin Group now expects revenue and earnings development in both business segments to be at least at the previous year’s level. The extent of the revenue increase largely depends on the further development of freight rates and volumes. The period result is expected to remain at the previous year’s level based on the anticipated operating result development (EBITA), taking into account the impairment of goodwill.

Uncertainty Due to COVID-19 and War in Ukraine

The forecast of the Logwin Group remains subject to very high uncertainty due to the special development of the market environment, particularly due to the global COVID-19 pandemic and the situation in Ukraine.

The aforementioned key performance indicators (KPIs) are part of the measurement system used in the Logwin Group and are explained in the section “Financial Corporate Management” in the Group Management Report in the 2021 annual financial report (page 1 ff.) in accordance with the guidelines for alternative performance measures of the European Securities and Markets Authority (ESMA) dated October 5, 2015.

Photo: © Logwin