R-LOGITECH S.A.M. with positive business performance in first quarter 2020
Monaco, 30 April 2020 – R-LOGITECH S.A.M., one of the leading international ports infrastructure operators and logistics services providers in the natural resources sector, had a successful first quarter (Q1) 2020 despite the challenging environment resulting from the COVID-19 pandemic.
In the first quarter 2020, R-LOGITECH on a consolidated basis realized a turnover of EUR 172 million (up from EUR 43 million in Q1 2019) with an EBITDA of EUR 25.8 million (up from EUR 5.8 million in Q1 2019).
R-LOGITECH’s liquidity position is strong, with a cash position of EUR 52 million and available unutilized long-term committed working capital lines of a further EUR 27 million.
The business performance is so far in line with budget and R-LOGITECH expects a strong full year 2020 with revenues and EBITDA significantly above 2019 levels.
During Q1 2020, R-LOGITECH managed to remain fully operational in all its locations across Europe, Africa and China, helping to maintain the critical supply chains that are essential for delivering key commodities to the respective markets, and thereby helping in the fight against COVID-19.
R-LOGITECH is focused on handling essential commodities (fresh food, agribulk, fertilizer, sugar, paper and pulp) and its facilities are primarily dedicated to bulk and break bulk handling worldwide.
All necessary protective material was available in every location. The appropriate procedures and measures were also taken across every location in order to help protect the employees during this period.
Frédéric Platini, CEO of R-LOGITECH: “We are pleased that our business model has proven to be resilient under extreme circumstances and thank all our employees, clients and stakeholders for their outstanding contribution and support. We will continue to grow our business further and seize the opportunities that will result from the crisis.”
About R-LOGITECH S.A.M.:
R-LOGITECH is one of the leading international ports infrastructure operators and logistics services providers in the natural resources sector. The Group’s primary business lines are port and terminal management, logistics and technology solutions.
R-LOGITECH is a subsidiary of Monaco Resources Group S.A.M.
For further information:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 89 8896906-25
+377 97 98 67 71