The past fiscal year 2021 was characterized by the effects of the Covid 19 pandemic and the resulting significant capacity bottlenecks in air and ocean freight. Despite these very difficult conditions, the Logwin Group was able to significantly exceed the previous year's sales and earnings.
The Logwin Group generated total sales of EUR 1,851.8m in 2021, a significant increase on the previous year (2020: EUR 1,123.3m). At EUR 100.9m (2020: EUR 47.8m), the operating result (EBITA) more than doubled compared to the previous year. Accordingly, net result for the period also rose sharply to EUR 63.5m (2020: EUR 34.7m).
While the Air + Ocean business segment significantly increased its operating result year-on-year, the measures to combat the Covid 19 pandemic had a negative impact on the Solutions business segment. In the Air + Ocean business segment, sales rose to EUR 1,517.0m (2020: EUR 789.7m) due to exceptionally high freight rates and increased volumes. The Solutions business segment achieved only a slight overall increase in sales to EUR 337.0m (2020: EUR 333.9m). Within the Solutions business segment, sales in the international transport business increased. In contrast, sales in the German transport network continued to decline, mainly due to the pandemic. The termination of individual contract logistics businesses also had a negative impact on sales.
At EUR 88.6m, the Logwin Group's free cash flow also significantly exceeded the previous year's figure of EUR18.6m. The Logwin Group recorded a cash inflow from operating activities of EUR 125.9m (2020: EUR 67.7m). The group's net liquidity increased to a very pleasing EUR 168.4m at the end of the year (2020: EUR 77.5m).
The Board of Directors of Logwin AG will propose to this year's Annual General Meeting to distribute a dividend of EUR 6.00 per share to its shareholders.
The aforementioned key performance indicators (KPIs) are part of the key performance indicator system used in the Logwin Group and are explained and defined in the section "Financial performance management" of the Group Management Report in the Annual Financial Report 2021 in accordance with the guidelines for alternative performance indicators issued by the European Securities and Markets Authority (ESMA) on 5 October 2015. In addition to the Annual Financial Report, the Logwin Group will publish a Corporate Social Responsibility (CSR) Report on its website www.logwin-logistics.com on 3 March 2022.
The Logwin Group generated total sales of EUR 1,851.8m in 2021, a significant increase on the previous year (2020: EUR 1,123.3m). At EUR 100.9m (2020: EUR 47.8m), the operating result (EBITA) more than doubled compared to the previous year. Accordingly, net result for the period also rose sharply to EUR 63.5m (2020: EUR 34.7m).
While the Air + Ocean business segment significantly increased its operating result year-on-year, the measures to combat the Covid 19 pandemic had a negative impact on the Solutions business segment. In the Air + Ocean business segment, sales rose to EUR 1,517.0m (2020: EUR 789.7m) due to exceptionally high freight rates and increased volumes. The Solutions business segment achieved only a slight overall increase in sales to EUR 337.0m (2020: EUR 333.9m). Within the Solutions business segment, sales in the international transport business increased. In contrast, sales in the German transport network continued to decline, mainly due to the pandemic. The termination of individual contract logistics businesses also had a negative impact on sales.
At EUR 88.6m, the Logwin Group's free cash flow also significantly exceeded the previous year's figure of EUR18.6m. The Logwin Group recorded a cash inflow from operating activities of EUR 125.9m (2020: EUR 67.7m). The group's net liquidity increased to a very pleasing EUR 168.4m at the end of the year (2020: EUR 77.5m).
The Board of Directors of Logwin AG will propose to this year's Annual General Meeting to distribute a dividend of EUR 6.00 per share to its shareholders.
The aforementioned key performance indicators (KPIs) are part of the key performance indicator system used in the Logwin Group and are explained and defined in the section "Financial performance management" of the Group Management Report in the Annual Financial Report 2021 in accordance with the guidelines for alternative performance indicators issued by the European Securities and Markets Authority (ESMA) on 5 October 2015. In addition to the Annual Financial Report, the Logwin Group will publish a Corporate Social Responsibility (CSR) Report on its website www.logwin-logistics.com on 3 March 2022.
