Logwin releases H1 2019 financial results


Logwin Group’s revenues increased from €540.1m to €560.1m in the first six months ended 30 June 2019. Both business segments Air + Ocean and Solutions contributed to the sales development.

The Air + Ocean segment revenues increased by 2.5% to €370.2m. The year on year growth is mainly attributable to higher freight volumes and freight rates in ocean freight. The revenue development was negatively influenced by a decline in air freight volumes and freight rates in line with the general market trend.

The revenues in the Solution business segment amounted to €189.9m, up 6% year on year. The increase in revenue is mainly due to the pleasing volume and price development of the business segment’s international transport activities. The overall decline in existing business in contract logistics and a decline in volumes in the transport network dampened the revenue trend.

The group’s EBITDA rose to €23.9m, corresponding to a margin of 4.3% which represents a 0.1% increase year on year. This was supported by an increase in earnings from both segments. The increase in the Solutions segment, however, was attributable to a positive one-off effect dampened by a decline in operating performance.

The forecast for the second half is also important, please include it and reword if necessary- Moderate sales growth is still expected for 2019 despite the noticeably deteriorating economic environment. Due to the usual seasonal and business-specific uncertainties for the logistics industry and in view of the expected further economic downturn, the Logwin Group continues to expect a decline in operating earnings compared to the previous year. The forecast business development will depend in particular on a corresponding development of the global economy.

Source: Logwin