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EQS-News: Logwin AG / Key word(s): Annual Results
Logwin 2023 with satisfactory development in a difficult market environment (news with additional features)
2024-03-11 / 16:04 CET/CEST
The issuer is solely responsible for the content of this announcement.
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

Additional features:
File: Press_Release_FY_2023
2024-03-11 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
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 2024-03-11 CET/CEST

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END) Dow Jones Newswires

March 11, 2024 11:05 ET (15:05 GMT)