Logwin with new subsidiary in Slovakia

Decline in revenue to low freightright and exchange at Logwin group

Logwin with new subsidiary in Slovakia

The Logwin Group achieved a slight improvement in results in the first half-year. In the first two quarters of the financial year 2016 the operating result (EBITA) increased to EUR 17.0m (2015: EUR 16.9m). Due to low freight rates and exchange rates the revenues amounted to EUR 479.2m (2015: EUR 532.0m).

The business segment Air + Ocean continued its favorable volume growth, both in air freight and in ocean freight, against an overall slow market environment. Due to low freight rates and negative foreign exchange effects the global network showed a significant decline in revenues of EUR 44.1m to EUR 296.5m (2015: EUR 340.6m) in the first half-year 2016. The business segment further increased its prior-year EBITA by EUR 0.6m to EUR 17.9m (2015: EUR 17.3m). A new subsidiary has been established in Slovakia in order to expand the European network further.

Despite an overall satisfactory volume development with existing customers, the revenues of the business segment Solutions of EUR 184.1m (2015: EUR 190.5m) were, slightly below the prior-year figure amid continuous intense price and competitive pressure. In the first half-year 2016, the operating result of the business segment amounted to EUR 2.4m (2015: EUR 2.5m). The EBITA development reflects the stable business performance as well as the successful reduction of operating cost.

Logwin AG (Grevenmacher, Luxembourg) provides efficient logistics and transport solutions for its customers from industry and trade. In 2015, the group generated sales of EUR 1.1bn and currently employs about 4,200 staff. Logwin operates in all main markets worldwide and has around 190 locations on six continents. With its two business segments Solutions and Air + Ocean, Logwin AG is one of the leaders in the market.