Logwin 2023 with satisfactory development in a difficult market environment

EQS-News: Logwin AG / Key word(s): Annual Results
Logwin 2023 with satisfactory development in a difficult market environment
(news with additional features)

11.03.2024 / 16:04 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Grevenmacher (Luxembourg) - The Logwin Group achieved a satisfactory revenue
and earnings performance in 2023 in a difficult market environment. In line
with expectations, Group revenue of EUR 1,257.5m was significantly below the
previous year's level (2022: EUR 2,259.0m), mainly due to lower freight
rates as a result of changed market conditions. At EUR 91.7m, the operating
result (EBITA) in the 2023 financial year was below the previous year (2022:
EUR 120.1m) as well. By contrast, the Logwin Group's net result increased to
EUR 80.2m thanks to an improved financial result and the reassessment of
deferred tax assets.

At EUR 917.2m, sales in the Air + Ocean business segment decreased
significantly compared to the previous year (2022: EUR 1,796.0m) due to the
significant fall in freight rates on the air and ocean freight market and a
general decline in volumes. At EUR 341.9m, the Solutions business segment
also generated lower revenue than in the previous year (2022: EUR 466.3m),
due to the termination and sale of business activities as well as freight
rate-related factors.

As expected, the Air + Ocean business segment was unable to repeat its
extraordinarily good result from the previous year. At EUR 86.6m, the
operating result (EBITA) in the Air + Ocean business segment declined
significantly compared to the previous year (2022: EUR 140.6m). By contrast,
the Solutions business segment exceeded the previous year's earnings with an
operating result (EBITA) of EUR 18.9m (2022: EUR -3.6m) very pleasingly. The
discontinuation of loss-making activities and measures to improve
performance at various operating locations contributed to this development.

At EUR 64.6m, the Logwin Group's free cash flow was also below the previous
year's level (2022: EUR 132.9m). The Logwin Group recorded a cash inflow
from operating activities of EUR 107.9m (2022: EUR 169.6m). At EUR 280.4m,
the Group's net liquidity at the end of the year was at the previous year's
level (2022: EUR 281.7m).

The Board of Directors of Logwin AG intends to propose a distribution of EUR
14.00 per share (previous year: EUR 24.00 per share) to the Annual General
Meeting in 2024. Further details will be announced in connection with the
publication of the annual results for the fiscal year 2024 and the
invitation to the company's shareholders to the Annual General Meeting 2024.

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 2023 (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 11 March 2024.

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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Additional features:

File: https://eqs-cockpit.com/c/fncls.ssp?u=bb09fa550893b01b98e380206451c259
File description: Press_Release_FY_2023

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11.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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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:    1855947

End of News EQS News Service
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1855947 11.03.2024 CET/CEST