ID Logistics: Continued Strong Growth in Q2 2022
July 21 2022 - 10:45AM
Business Wire
- Q2 2022 revenues: €641.6 million, up 40.3% (up 15.5%
like-for-like)
- Good growth in France: €218.7 million, up 11.6% (up 4.5%
like-for-like)
- Continued strong momentum in international business: €422.9
million, up 61.7% (up 23.6% like-for-like)
- Two thirds of the Group's revenue is generated outside
France
- Revenues for the first half of 2022: €1,181 million, up
32.2% (up 15.3% like-for-like)
- Finalized integration of recent acquisitions, in line with
the roadmap:
- GVT in Benelux and Colisweb in France since January 1st,
2022
- Kane Logistics in the United States since April 1st,
2022
Regulatory News:
ID Logistics, (ISIN: FR0010929125, Ticker: IDL) (Paris:IDL) one
of the European leaders in contract logistics, is today reporting
its revenues for the second quarter of 2022.
Eric Hémar, Chairman and CEO of ID Logistics, commented:
«Our second quarter confirms the good momentum that we initiated at
the beginning of 2022. We have focused on integrating our latest
acquisitions while maintaining our organic growth. Our objective
now is to take advantage of synergies with new growth-generating
clients. The performance of our business on the other side of the
Atlantic today confirms the relevance of our strategy».
Revenues, €m
2022
2021
Change
Like-for-like %
change*
1st quarter
France
204.2
180.8
+12.9%
+7.9%
International
334.8
254.9
+31.3%
+20.3%
Total
539.0
435.7
+23.7%
+15.1%
2nd quarter
France
218.7
195.9
+11.6%
+4.5%
International
422.9
261.5
+61.7%
+23.6%
Total
641.6
457.4
+40.3%
15.5%
1st half
France
422.9
376.7
+12.3%
+6.1%
International
757.7
516.4
+46.7%
+21.9%
Total
1,180.6
893.1
+32.2%
+15.3%
*See appendix
CONFIRMED GOOD START TO 2022 WITH DYNAMIC GROWTH IN
Q2
ID Logistics confirms the good start of 2022 with a continued
strong growth of its sales in the 2nd quarter to reach €641.6
million, up +40.3% and +15.5% on a like-for-like basis.
- In France, ID Logistics reported an 11.6% increase in
sales to €218.7 million in the second quarter. Excluding the
consolidation of Colisweb, acquired in January 2022, growth was
+4.5% in the second quarter of 2022 compared to the second quarter
of 2021, which was already up by +14.8%.
- In other countries, strong revenue growth continued in
Q2 2022 to reach +61.7%, or €422.9 million. This includes revenues
from GVT, acquired in the Benelux at the end of 2021, and from Kane
Logistics, acquired in the United States on March 31, 2022.
Restated for these positive perimeter and exchange rate effects in
the quarter, growth remains sustained with an increase of +23.6% on
a like-for-like basis.
ID Logistics therefore ended the 1st half of 2022 with revenues
of €1,181 million, up +32.2% (+15.3% like-for-like). During the 2nd
quarter of 2022, the Group started up 4 new sites, i.e. 8 since the
beginning of the year 2022, in line with the roadmap for the
current year.
INTEGRATION OF RECENT ACQUISITIONS
ID Logistics has recently completed three acquisitions: GVT in
Benelux in December 2021, Colisweb in France in January 2022 and
Kane Logistics in the United States in March 2022. The integration
of these three acquisitions into the Group's processes is now
complete.
The most recent, Kane Logistics, renamed ID Logistics US, is
currently recording strong growth in its activity (+20% in Q2 2022
compared to Q2 2021). It is also recording its first commercial
successes since its integration into the Group:
- Total Wine & More, the largest retailer of fine wines and
spirits in the United States, has entrusted ID Logistics with the
management of a 28,000 sq.m. warehouse in Northern California.
- Nutrabolt, one of the fastest growing energy drink companies
in the United States, chose ID Logistics to continue its
development and open a new 21,000 sq.m. logistics center in New
York State, close to its manufacturing plant.
NEW COUNTRY AND NEW CONTRACTS
The number of tenders to which ID Logistics is invited to
respond remains high in Q2 2022. For example, in addition to the
above-mentioned projects in the United States, the Group won or
started the following new contracts during the quarter:
- ID Logistics opened an 18th country with Italy to
support one of its main customers, an international e-commerce
leader for which it now operates in 6 countries. A new platform of
63,000 sq.m., demanding in terms of environmental protection and
LEED Platinum certified, was opened in record time near Milan to
deliver to more than 80 cities in Northern Italy.
- In the Netherlands, the first commercial synergy
resulting from the acquisition of GVT, the Group is starting up a
logistics (10,000 sq.m.) and distribution activity throughout the
Benelux countries for the Royal Canin Group.
- In Poland, the Group launched a new 25,000 sq. m.
e-commerce site for a major furniture player in the Warsaw
region.
OUTLOOK
Following on from this good start to the year, ID Logistics
intends to maintain its pace of commercial development and remains
focused on increasing the productivity of recent projects and
managing the start-ups of 2022. The Group is also careful about the
evolution of the macro-economic situation and pays attention to the
need to support its customers.
Finally, with the integration of recent acquisitions now
complete, ID Logistics is focusing on the development opportunities
arising from these new synergies.
NEXT REPORT
2022 first-half results: August 31, 2022, after market
close.
ABOUT ID LOGISTICS
ID Logistics managed by Eric Hémar is an international contract
logistics group, with revenue of €1,911 million in 2021. ID
Logistics manages 360 sites across 18 countries, representing
nearly 8.0 million square meters of warehousing facilities in
Europe, America, Asia and Africa, with 28,000 employees. With a
client portfolio balanced between retail, industry, detail picking,
healthcare and e-commerce sectors, ID Logistics is characterized by
offers involving a high level of technology. Developing a social
and environmental approach through a number of original projects
since its creation in 2001, the Group is today resolutely committed
to an ambitious CSR policy. ID Logistics is listed on Compartment A
of Euronext’s regulated market in Paris (ISIN Code: FR0010929125,
Ticker: IDL).
APPENDIX
Like-for-like change
Changes in revenue on a like-for-like basis reflect ID
Logistics’ organic performance excluding the impact of:
- acquisitions and disposals: the revenue contribution of
companies acquired during the period is excluded from the same
period, and the revenue contribution made by companies sold during
the previous period is also excluded from that period;
- changes in the applicable accounting principles;
- changes in exchange rates by calculating the revenues in the
various periods based on identical exchange rates, so that the
reported figures for the previous period are translated using the
exchange rates for the current period.
Reconciliation of reported revenues to
revenues on a like-for-like basis
In €m
2021
Scope effects
Effects of
exchange rate
fluctuations
Effects of
adoption of
IAS 29*
% like-for-like
change
2022
1er quarter
435.7
+7.7%
+0.8%
+0.1%
+15.1%
539.0
2nd quarter
457.4
+22.8%
+2.0%
+0.0%
+15.5%
641.6
1st half
893.1
+15.4%
+1.5%
+0.0%
+15.3%
1,180.6
* Accounting treatment for hyperinflationary in Argentina
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version on businesswire.com: https://www.businesswire.com/news/home/20220721005449/en/
ID Logistics Yann Perot CFO Tel: +33 (0)4 42 11 06 00
yperot@id-logistics.com
Investor Relations - Contact NewCap Tel : +33 (0)1 44 71
94 94 idlogistics@newcap.eu
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