Monaco, May 5th, May 2022 – R-LOGITECH S.A.M., a subsidiary of Monaco Resources Group S.A.M. and one of the leading international ports infrastructure operators and related logistics services provider to the natural resources sector, today issues its first quarter 2022 earnings update for the period January 1st, 2022, to March 31st, 2022.
Despite worldwide supply-chain challenges, inflationary pressures, ongoing COVID-19-related restrictions in China and war in Ukraine, R-LOGITECH is pleased to report that revenue and earnings rose significantly in Q1 2022:
- Revenues increased by more than 40% to EUR 266.7 million (Q1 2021: EUR 190.7 million).
- Adjusted EBITDA rose by 15% to EUR 35.2 million (Q1 2021: EUR 30.7 million).
- Cash and cash equivalents amounted to EUR 92.5 million (Q1 2021: EUR 81.6 million) and unutilized long-term working capital lines to a further EUR 27 million.
As a leading port infrastructure operator and complementary logistics services provider, with a global presence in more than 30 countries, R-LOGITECH offers vertically integrated solutions to its customers around the globe. The business has delivered strong Q1 2022 results, with results above budget, and significantly above prior year Q1 actuals. Q1 2022 results were supported by strong volumes across multiple products in Europe and Africa. Results also show a strong performance from the specialist logistics services including freight forwarding.
Following the acquisition of the Port of Hanko in Finland, the Group is now working to exploit the synergies created by combining this asset with R-LOGITECH’s existing terminals, which include the existing port terminals in Rostock, Ghent and Antwerp. These synergies facilitate an unparalleled service offering to customers across the region.
Frédéric Platini, CEO of R-LOGITECH, said:
“We are very pleased with the performance of R-LOGITECH in Q1 2022, well ahead of budget, benefiting from a strong performance from our port terminals both across Europe and in emerging markets. In addition to an increase in volumes across many of the commodity classes, we are benefiting from new clients wins and additional business from our longstanding client base. To date, performance is excellent and we look forward to a strong performance for the Full Year 2022.”
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.
For further information:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 89 8896906-25
+377 97 98 67 71