Earnings development in the first quarter of 2024 affected by intensified
price competition despite rising volumes

EQS-News: Logwin AG / Key word(s): Quarterly / Interim Statement
Earnings development in the first quarter of 2024 affected by intensified
price competition despite rising volumes (news with additional features)

30.04.2024 / 11:37 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Overall economic conditions

Grevenmacher (Luxembourg) - The global economy continued to expand modestly
in the first quarter of 2024. Global trade stabilized despite the negative
impact of the conflicts in the Middle East. The absence of supply shortfalls
for energy, raw materials and certain intermediate products as well as lower
commodity and energy prices compared to the prior year contributed to this.
Economic output in the eurozone stagnated in the first quarter of 2024,
while inflation rates subsided. The Chinese economy recovered slightly in
the reporting period.

The air and ocean freight markets showed a significant increase in
competitive pressure in the first quarter of 2024. Ocean freight rates were
at a higher level in the first quarter than in the prior year, while air
freight rates declined.

Net assets, financial situation and earnings position

Revenues In the first quarter of 2024, the Logwin Group's sales of EUR
311.0m were below the prior year (2023: EUR 362.4m). The Air + Ocean
business segment generated sales of EUR 245.2m and was on a par with the
prior year (2023: EUR 252.0m). Increased volumes in air and ocean freight
partially compensated for the lower freight rates. In the Solutions business
segment, sales of EUR 66.2m were significantly below the prior year's figure
of EUR 110.8m. With an overall stable business development, this decline in
sales was mainly due to reduced volumes in the international transport
business, the closure of a contract logistics location and the disposal of
the German retail network. Business expansion, particularly in the Southern
European national companies and in Eastern Europe, had a positive effect on
sales development in the Solutions business segment.

EBITA At EUR 19.0m, the Logwin Group's operating result (EBITA) remained
below the prior year's result (2023: EUR 24.9m) due to the overall
significant increase in competitive pressure. The Air + Ocean business
segment generated a quarterly result below the prior year's level due to
market conditions. The Solutions business segment improved its operating
result (EBITA) in the first quarter. In both business segments, the
acquisition of new customers and the expansion of existing customer
business, measures to increase efficiency and the opening of new locations
or national companies contribute to the development of business activities.
Following the acquisition of a majority interest in Supply Chain
International Ltd. in Auckland, New Zealand, in the first quarter of 2024
and the opening of locations, particularly in Europe, further expansions of
the international network are planned over the course of the year.

Net result The Logwin Group's net result for the period amounted to EUR
15.8m in the first quarter of 2024 (2023: EUR 19.5m).

Free cash flow In the first quarter of 2024, the Logwin Group generated a
free cash flow of EUR 13.1m, slightly below the prior year's figure (2023:
EUR 17.7m).

Risks and change in forecast

Compared with the disclosures in the Annual Financial Report 2023, the risk
situation for the Logwin Group has not changed significantly. There is still
an increased economic risk as a result of continued high inflation rates and
the current geopolitical tensions. As part of its risk management, Logwin
identifies emerging risks at an early stage and pursues their minimization.
Nevertheless, an unexpected negative impact on the net assets, financial
situation and earnings position of the Logwin Group cannot be ruled out.
With regard to other existing and potential risks, we refer to the Annual
Financial Report 2023.

Compared with the forecast report in the Annual Financial Report 2023, no
significant changes have occurred regarding the expected development of the
Logwin Group. Assuming a year-on-year recovery in freight rates, the Logwin
Group expects revenue for 2024 to remain at the prior year level and a
decline in the operating result (EBITA) and net result.

The aforementioned key performance indicators (KPIs) are an integral part of
Logwin Group's system of key figures and are described and defined in the
section "Financial Performance Management" of the management report of the
Annual Financial Report 2023 (page 1 et seq.) in line with the European
Securities and Markets Authority's (ESMA) Guidelines on Alternative
Performance Measures (APM) dated 5 October 2015.

The Quarterly statement as of 31 March 2024 of Logwin Group is available on
the internet at: www.logwin-logistics.com


About Logwin AG

Logwin AG (Grevenmacher, Luxembourg) provides efficient logistics and
transport solutions for its customers from industry and trade. In 2023, the
group generated sales of about EUR 1,3bn and currently employs over 3,800
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.

Logwin AG is listed in the Prime Standard of the Deutsche Börse. The
majority shareholder is DELTON Logistics S.à r.l., Grevenmacher
(Luxembourg).

Contact:
www.logwin-logistics.com

Sebastian Esser

Chief Financial Officer

Phone: +352 719690-1112

sebastian.esser@logwin-logistics.com


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File: https://eqs-cockpit.com/c/fncls.ssp?u=ebcc7735fc3dee96f9b4816b68bc2542
File description: Logwin_AG_Quarterly_Statement_Q1_2024

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30.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        Logwin AG
                   an de Längten 5
                   6776 Grevenmacher
                   Luxemburg
   Phone:          +352 719 690 0
   Fax:            +352 719 690 1359
   E-mail:         ir-info@logwin-logistics.com
   Internet:       www.logwin-logistics.com
   ISIN:           LU1618151879
   WKN:            A2DR54
   Indices:        Prime All Share (PXAP), Classic All Share (CLXP),
                   DAXsector All Transportation & Logistics (4N87),
                   DAXsector Transportation & Logistics (CXPL),
                   DAXsubsector All Logistics (4N99), DAXsubsector
                   Logistics (I1LB)
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1893001

End of News EQS News Service
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1893001 30.04.2024 CET/CEST