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(Grevenmacher) The operating result (EBITA) of the Logwin Group was 51.3 million euros, below the previous year’s result (2022: 71.8 million euros). The Air + Ocean business segment achieved a significantly lower half-year result compared to the previous years in a market environment that has deteriorated. The Solutions business segment recorded an increase in operating results, contributed to by all European activities. The period result for the first half of the year was 40.8 million euros, matching the previous year’s result (2022: 41.0 million euros).
In the first two quarters of the current year, the Logwin Group achieved a free cash flow of 39.2 million euros based on the earnings development (2022: 42.2 million euros). As of June 30, 2023, net liquidity amounted to 253.4 million euros (December 31, 2022: 281.7 million euros).
Compared to the information in the 2022 annual financial report, the risk situation for the Logwin Group has not changed significantly overall. There remains an increased economic risk regarding ongoing inflation and a possible re-tightening of the energy supply situation in Europe. Furthermore, there are additional uncertainties regarding the current geopolitical tensions.
Significantly Reduced Annual Result Expected
Compared to the forecast report in the 2022 annual financial report, there have been no significant changes regarding the expected development of the Logwin Group. The Logwin Group continues to anticipate significantly reduced revenues and a declining operating result (EBITA) for the year, assuming a persistently low level of freight rates.
Photo: © Logwin
