Logwin: Revenue Development in the First Half of 2024 Consistent with Previous Year

Grevenmacher, Luxembourg – Logwin Group reported a revenue of EUR 643.5 million for the first half of 2024, slightly down from EUR 673.0 million the previous year. This decline partly resulted from the disposal of retail network activities in Q1 2023. Adjusted for one-off effects, sales maintained last year's level. Air and ocean freight volumes exhibited a positive trend, with new investments in New Zealand and the Netherlands expected to further boost development.

Logwin’s EBITA was EUR 42.4 million, compared to EUR 51.3 million the previous year, due to increased competitive pressure. The Air + Ocean segment achieved a robust half-year result of EUR 36.9 million, even with declining margins. Meanwhile, the Solutions segment contributed an EBITA of EUR 12.5 million. The net result for H1 2024 stood at EUR 32.4 million.

Logwin generated a free cash flow of EUR 10.2 million. At the Annual General Meeting, a EUR 40.3 million distribution to shareholders was approved, leaving net liquidity at EUR 253.7 million as of June 30, 2024.