PRESS RELEASE : Logwin AG: Logwin continues to perform well: Significant increase in revenue and earnings in the first quarter

DGAP-News: Logwin AG / Key word(s): Quarterly / Interim Statement 
Logwin AG: Logwin continues to perform well: Significant increase in revenue and earnings in the first quarter (news 
with additional features) 
2021-04-30 / 10:27 
The issuer is solely responsible for the content of this announcement. 
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Overall economic conditions 
 
Grevenmacher (Luxembourg) - The development of the global economy in the first quarter of 2021 is characterized by a 
continued recovery in economic activity. Industrial production and global trade have now almost fully recovered from 
the slump in the first quarter of 2020, notwithstanding the ongoing global spread of the COVID 19 pandemic. The 
recovery in industrial production was particularly strong in China and the Asian economies. In the euro zone and the 
United States, the recovery is still subdued. A strong recovery in the global economy and world trade is expected for 
the year as a whole. 
 
Still significantly below the level of previous years is the development in the services sector, which continued to be 
overall strongly negatively affected by the measures to combat the spread of the COVID 19 virus. In the 
consumer-related services sector and in particular the retail sector, economic activity declined again in the first 
quarter and a recovery to pre-crisis levels is not expected until the end of the year. 
 
In this respect, the overall economic conditions affect the development of the Logwin Group in different ways. In the 
Air + Ocean business segment, the recovery in global trade with capacities remaining tight is having a positive effect. 
The measures to combat the pandemic are having a significant impact on the stationary retail trade and private 
consumption, which is an important market for Logwin. The further progress of the vaccination campaigns and the 
expected withdrawal of public restrictions will determine the course of the expected economic recovery and the impact 
on customers in the Solutions business segment. 
 
Net assets, financial situation and earnings position 
 
Revenues Revenues of the Logwin Group increased by 34.4 % to EUR 363.9 million (2020: EUR 270.8 million) in the first 
three months of 2021. The business segment Air + Ocean generated sales of EUR 288.5 million, significantly higher than 
the previous year by EUR 108.0 million (2020: EUR 180.5 million), due to high freight rates in ocean freight and air 
freight and due to recovering volumes compared with the first quarter of 2020. However the Solutions business segment, 
on the other hand, reported sales of EUR 75.5 million, considerably down on the previous year's figure of EUR 90.4 
million, mainly due to the impact of the COVID 19 pandemic on network activities for the retail sector and planned 
declines in contract logistics 
 
EBITA In total the Logwin Group generated an operating result of EUR 16.4 million in the first three months of 2021, 
exceeding the previous year's result by EUR 7.0 million. The business segment Air + Ocean was significantly above the 
previous year's level due to recovering volumes in ocean freight and air freight and was also able to benefit from 
current market conditions. The operating result (EBITA) of the business segment Solutions in the first quarter of 2021 
was below the prior-year figure. This was positively impacted by a special effect in connection with the disposal of a 
site in Germany. The impact of the COVID 19 pandemic on network activities burdened earnings in the first quarter of 
2021. 
Net result The net result of the Logwin Group amounted to EUR 12.5 million in the first three months of 2021 (2020: EUR 
6.1 million). In addition to the significant increase in operating profit, an improved financial result contributed to 
the rise in earnings. 
 
Free cash flow The Logwin Group's free cash flow after the first three months of 2021 was significantly higher than the 
comparative figure for the first quarter of 2020, in particular due to the improved development of working capital and 
the development of operating earnings. The overall financial situation and liquidity of the Logwin Group remain 
pleasing. 
 
Risks and change in forecast 
 
Compared with the disclosures in the Annual Financial Report 2020, the risk situation for the Logwin Group has not 
changed significantly. It continues to be characterized by a very high level of uncertainty about the further 
development of the measures to combat the global COVID 19 pandemic and the effects on the various economic sectors and 
thus the markets and customers of the Logwin Group. National and international transport activities and contract 
logistics are affected in many ways by the measures taken to combat the pandemic. In addition, there are increased 
procurement and sales risks as well as an increased financial risk assessment. As part of its consistent risk 
management, Logwin identifies emerging risks at an early stage and systematically pursues their minimization. 
Nevertheless an unexpected negative impact on the net assets, financial position and results of operations of the 
Logwin Group cannot be ruled out. With regard to other existing and potential risks, we refer to the Annual Financial 
Report 2020. 
 
Due to the clearly positive sales and earnings development compared to the forecast report in the Annual Financial 
Report 2020, the Logwin Group now expects growing sales for the full year 2021, in particular also in the business 
segment Air + Ocean, the extent of which however depends on the further development of freight rates and volumes. The 
operating result in the Logwin Group and in the business segment Air + Ocean will also increase compared with the 
previous year. The net result for the period is likewise expected to increase on the basis of the expected development 
of operating earnings. 
 
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. 
 
The Quarterly statement as of 31 March 2021 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 2020, the group generated sales of EUR 1.1bn and currently employs about 4,200 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: [phone] 
[e-mail] 
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Additional features: 
File: Q1_2021_Quarterly_statement 
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2021-04-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
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Archive at www.dgap.de 
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Language:     English 
Company:      Logwin AG 
              an de Längten 5 
              L-6776 Grevenmacher 
              Luxemburg 
Phone:        [phone] 
Fax:          [phone] 
E-mail:       [e-mail] 
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:  1191203 
 
End of News   DGAP News Service 
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1191203 2021-04-30

 
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April 30, 2021 04:29 ET (08:29 GMT)