Logwin 2022 numbers out

PRESS RELEASE

28 February 2023

Logwin closes very successful fiscal year 2022

Grevenmacher (Luxembourg) – In the fiscal year 2022, the Logwin Group achieved an exceptionally pleasing increase in revenues and earnings in a market environment chraracterized by special situations. At EUR 2,259.0m, the Logwin Group’s total revenues substantially exceeded those of the previous year (2021: EUR 1,851.8m). The operating result (EBITA) of EUR 120.1m was considerably higher than the previous year’s result due to increased margins in parts of the business (2021: EUR 100.9m). Accordingly, net result increased significantly to EUR 73.9m (2021: EUR 63.5m).

At EUR 1,796.0m, sales of the Air + Ocean business segment exceeded the previous year’s level significantly (2021: EUR 1,517.0m), mainly due to high freight rates in the first half of the year with slightly declining volumes in line with the market. The Solutions business segment also achieved a pleasing increase in sales to EUR 466.3m, mainly due to freight rates (2021: EUR 337.0m). The increase was mainly due to the international transport business. Contract logistics and German transport activities recorded volume growth driven by recovery effects compared to the previous year, which had still been affected stronger by the Covid 19 pandemic. In addition, price increases contributed to the increased revenues.

The Air + Ocean business segment was once again able to increase its operating result significantly compared to the previous year. On the other hand, the Solutions business segment’s result was significantly affected by one-off expenses in connection with the termination of loss-making activities in Germany.

At EUR 132.9m, the Logwin Group’s free cash flow substantially exceeded the previous year’s figure of EUR 88.6m. The Logwin Group recorded a cash inflow from operating activities of EUR 169.6m (2021: EUR 125.9m). The group’s net liquidity increased again significantly to EUR 281.7m at the end of the year (2021: EUR 168.4m).

As announced in January 2023, the Board of Directors of Logwin AG will propose a dividend of EUR 24.00 per share to the Annual General Meeting of the company on 31 March 2023.

The aforementioned key performance indicators (KPIs) are part of the key performance indicator system used in the Logwin Group and are explained and defined in the section “Financial performance management” of the Group Management Report in the Annual Financial Report 2022 (page 1 et seq.) in accordance with the guidelines for alternative performance indicators issued by the European Securities and Markets Authority (ESMA) on 5 October 2015. In addition to the Annual Financial Report, the Logwin Group will publish a Corporate Social Responsibility (CSR) Report on its website www.logwin-logistics.com on 28 February 2023…

The full release is here.

The full annuals can be downloaded here.