The Logwin group increased its 2018 revenue by 2.7% to €1.15bn. Its operating result (EBITA) was €49.2m, up from €38.1m the previous year. Its net profit was €39.2m, up from €26.7m.
Air + Ocean revenues grew 3.4% to €778.8m. Volumes grew in both segments, but lower average freight rates for sea freight had a negative impact on revenue development. Its operating results was €46.2m, up from €38.6m the previous year. Acquisitions contributed positively to its earnings development.
In Solutions, revenues of €371.3m were 0.8% higher than in 2017. The company admitted it has seen “strong price and competitive pressure” in 2018. However, its margin improved as EBITA grew from €6.5m to €3.4m. According to its annual report “The operational stabilization of critical locations and gratifying volume developments with existing and new customers had a positive effect”. However, rising prices in the procurement of transport capacity had an adverse effect on its operating results.
Source: Logwin Group
