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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)
2024-04-30 / 11:37 CET/CEST
The issuer is solely responsible for the content of this announcement.
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
Additional features:
File: Logwin_AG_Quarterly_Statement_Q1_2024
2024-04-30 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.
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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: 1893001

End of News EQS News Service
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1893001 2024-04-30 CET/CEST

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END) Dow Jones Newswires

April 30, 2024 05:37 ET (09:37 GMT)