The Logwin Group have reported what they call ‘significant increases’ in annual earnings for 2016.
The company’s Air + Ocean business segment increased air and ocean freight volumes, and also achieved growth in its intercontinental activities with new subsidiaries in Peru and Slovakia. Low freight rates, as well as negative currency translation effects, however, had a negative impact on revenues and led to a drop of 7.8% to €623.3m (2015: €676.1m).
The Solutions business segment also developed positively despite the challenging market environment. During 2016, Logwin opened additional branches and expanded a number of its businesses. The segment recorded a slight decline compared to the prior year €369.1m (2015: €380.8m), the result of changes in logistics concepts with major existing customers.
The EBITA of the Logwin Group increased from €30.3m to €35.5m. At €26.4m, the net result significantly exceeded the prior year’s figure of €15.7m.