DGAP-Adhoc: Logwin AG: Preliminary financial result - Logwin with unexpected positive overall development in the 2021 financial year
DGAP-Ad-hoc: Logwin AG / Key word(s): Preliminary Results/Annual Results
Logwin AG: Preliminary financial result - Logwin with unexpected positive overall development in the 2021 financial year
28-Jan-2022 / 15:21 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
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Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 (market abuse regulation)
Preliminary financial result - Logwin with unexpected positive overall development in the 2021 financial year
Grevenmacher (Luxembourg) - The Logwin Group announces preliminary, not yet finally audited financial result for 2021, which are above the previous forecasts.
Based on the preliminary financial result, the Logwin Group's sales increased by 64.9 % to EUR 1,851.8 million in the financial year 2021 (2020: EUR 1,123.3 million) due to volume and transport rate factors. The volume development and high freight rates in ocean and air freight in the business segment Air + Ocean were the main reason for this development. The business segment Solutions also achieved sales slightly above the previous year's level. The Logwin Group achieved operating earnings (EBITA) of EUR 100.9 million (2020: EUR 47.8 million) in the past financial year on the basis of the preliminary financial result, thus exceeding the previous year's result very significant by EUR 53.1 million. At EUR 63.5 million (2020: EUR 34.7 million), the net result for the financial year 2021 is expected to be around EUR 28.8 million higher than the previous year's figure. The result for the period takes into account an extraordinary write-down on the goodwill of the business segment Solutions in the amount of EUR 9.0 million as a result of the planned goodwill impairment test as of 31 December 2021. Based on the earnings development, Free Cash Flow is expected to be around EUR 89 million (2020: EUR 19 million), which is also very significantly higher than in the previous year. The above-mentioned key figures are preliminary and therefore subject to the ongoing finalization of year-end financial accounts.
Further information on the business development will be available in the Annual Financial Report 2021, which is expected to be available at www.logwin-logistics.com from the beginning of March 2022.
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 2020 in line with the European Securities and Markets Authority's (ESMA) Guidelines on Alternative Performance Measures (APM) dated 5 October 2015.
Person making the notification: Sebastian Esser, Member of the Board of Directors (Chief Financial Officer)
About Logwin AG
Logwin AG (Grevenmacher, Luxembourg) provides efficient logistics and transport solutions for its customers from industry and trade. In 2021, the group generated sales of EUR 1.9bn and currently employs about 4,100 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
Tel: +352 719690-1112
sebastian.esser@logwin-logistics.com
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