Logwin has announced its financial performance for the first nine months of 2022. Revenues reached €1,774.5m in the first nine months, significantly surpassing the previous period revenue of €1,260.9m.
Revenue within the Air and Ocean business segment was €1,426.7m, ahead of the previous period’s revenue of €1,019.2m. The increase in revenues were due to higher freight rates, in spite of volumes declining slightly. The company’s Solutions business segment generated sales of €350.5m, which again, was up against the previous year’s figure of €242.2m. In terms of profit, Logwin had an EBITA of €106m for the first nine months, compared to €67.5m in the previous nine month period.
The Group noted that global economic expansion has come to a standstill in view of inflation and the resulting slowdown. In addition, the company noted the negative the effects of the war in Ukraine. It also notes that the German economy is being hit particularly hard by the rise in energy prices. With regard to the logistics market, the Group believes supply and logistics bottlenecks in the transportation sector have eased. Within the warehousing sector, demand for additional space in Europe can only be met in part, according to Logwin.
Logwin AG, headquartered in Grevenmacher, Luxembourg, is listed on the Prime Standard of the Frankfurt Stock Exchange. The majority shareholder is DELTON Logistics S.á r.l..
Source: Logwin
