- Revenues for Q2 2023: €658.2m, +3.6% (+3.3%
like-for-like)
- International (68% of revenues): €446.9m, +7.2% (+6.9%
like-for-like)
- France (32% of revenues): €211.3 million, -3.4%
- Revenues for H1 2023: €1,288.6m, +10.3% (+4.3%
like-for-like)
Regulatory News:
ID Logistics (ISIN: FR0010929125, Mnemo: IDL) (Paris:IDL), a
European leader in contract logistics, today announced its revenues
for the first half of 2023.
Eric Hémar, Chairman and CEO of ID Logistics, comments: "Against
a backdrop of declining consumer volumes in Europe, our company
recorded organic growth thanks to its dynamic revenue strategy and
excellent international positioning. In addition, we have signed
new contracts with international customers, which we will now
support in their deployment. Today, we are particularly confident
in our ability to maintain the dynamism of our growth model.”
Revenues, in €m
2023
2022
Change
Change on a like-for-like
basis
2nd quarter
International
446.9
416.8
+7.2%
+6.9%
France
211.3
218.7
-3.4%
-3.4%
Total
658.2
635.5
+3.6%
+3.3%
1st semester
International
877.3
745.5
+17.7%
+8.3%
France
411.3
422.9
-2.7%
-2.7%
Total
1,288.6
1,168.4
+10.3%
+4.3%
*see definition in appendices
REVENUE GROWTH FOR Q2 2023: +3.6% (+3.3% ON A LIKE-FOR-LIKE
BASIS)
ID Logistics recorded revenues of €658.2 million in the 2nd
quarter of 2023, up +3.6% and +3.3% like-for-like compared with the
2nd quarter of 2022, which had already seen strong growth of +15.5%
like-for-like.
- In international markets, revenue growth continued in
the 2nd quarter of 2023, reaching €446.9m, or +7.2%. This increase
includes the revenues of Spedimex, a company acquired in Poland and
consolidated from June, 1st 2023. Adjusted for this perimeter
effect and a generally unfavorable exchange rate effect over the
past quarter, growth stands at +6.9% compared with the 2nd quarter
of 2022, which had already recorded a significant increase of
+23.6%.
- In France, revenues came to €211.3 million (-3.4%), due
to lower consumer volumes, particularly in the DIY and home
furnishings sectors, and to the company's rigorous and selective
risk management policy.
In the 2nd quarter of 2023, the Group launched 7 new
projects.
ID Logistics thus ended the 1st half of 2023 with revenues of
€1,288.6 million, up +10.3%, of which +4.3% on a like-for-like
basis. Since the beginning of the year, ID Logistics has started up
12 new projects, and despite the postponement of some projects to
the second half of 2023, the Group is on track with its roadmap for
2023.
NEW CONTRACTS
ID Logistics continued to respond to a sustained number of
tenders during the 2nd quarter of 2023.
For example, the Group won or started up the following new
contracts during the quarter:
- In France, ID Logistics is continuing its partnership with
Intermarché, and will open a new 57,000 sq.m. site in the south of
France before the end of 2023. This activity will manage
Intermarché's food and non-food goods but will also call on the
Group's expertise in the management of alcoholic beverages and will
employ over 160 people.
- In Spain, ID Logistics started up a new business for a major
retailer, already a Group customer, on a 22,000 sq.m. site in the
Valladolid region.
- A year after setting up in Italy, ID Logistics opened a new
site for an international fashion company during the quarter and is
preparing to start up a new activity for a major retailer in
Milan.
- In the United States, ID Logistics completes its geographical
coverage with its first 12,000 sq.m. facility in Texas for its
long-standing customer in the United States. With this latest
opening, the Group now covers the entire Sun Belt, a region with
strong economic potential stretching from the West Coast to
Florida.
- Lastly, a year after the acquisition of Kane Logistics, the
Group is realizing its first commercial synergies by supporting
European customers in their expansion in the United States. In the
2nd half-year 2023, ID Logistics will be starting up a new business
on an 86,000 sq.m. site in Pennsylvania for one of its main
customers, a global e-commerce giant.
INAUGURATION OF ID LOGISTICS' 1ST UK SITE, DEDICATED TO
RETURN FLOW MANAGEMENT
Following the acquisition of Spedimex, a specialist in fashion
logistics in Poland last May, a major fashion customer decided to
entrust ID Logistics with the management of e-commerce and store
returns for the UK zone. This new activity, based in an 18,000
sq.m. warehouse and employing 250 people in Northampton, has
benefited from the expertise of the group's Polish teams and
e-commerce support for its start-up in June.
This move into the UK, the 18th country for ID Logistics, gives
the Group an additional opportunity to realize future commercial
synergies, in particular with Anglo-Saxon customers currently based
in the U.S.
OUTLOOK
Against a backdrop of low consumption in the 1st half of 2023,
ID Logistics is focusing on implementing its variable cost model to
further increase its operating profitability.
The end of the inflation peak should be accompanied in the 2nd
half of 2023 by a recovery in consumption and promotional periods,
as the Group has already seen in several European countries where
it operates.
ID Logistics is preparing for the numerous start-ups mentioned
above, which will contribute to the acceleration of revenue growth
from the 2nd half of 2023 onwards.
NEXT PUBLICATION
Half-year results of 2023: August 30, 2023, after market
close.
ABOUT ID LOGISTICS:
ID Logistics, headed by Eric Hémar, is an international contract
logistics group with revenues of €2.5 billion by 2022. ID Logistics
manages 375 sites in 18 countries, representing more than 8 million
m² of operated space in Europe, America, Asia and Africa, with
30,000 employees.
With a customer portfolio balanced between distribution,
e-commerce and consumer goods, ID Logistics is characterized by
offers involving a high level of technology. Since its creation in
2001, the Group has developed a social and environmental approach
through a number of original projects and is now firmly committed
to an ambitious CSR policy. ID Logistics shares are listed on the
Euronext regulated market in Paris, compartment A (ISIN code:
FR0010929125, Mnemo: IDL).
* * *
APPENDIX
CHANGE ON A LIKE-FOR-LIKE BASIS
Changes in revenues on a like-for-like basis reflect the organic
performance of the ID Logistics Group, excluding the impact of:
- changes in the scope of consolidation: the contribution to
revenues of companies acquired during the period is excluded from
this period, and the contribution to revenues of companies sold
during the previous period is excluded from this period;
- changes in applicable accounting principles;
- variations in exchange rates, by calculating revenues for
different periods on the basis of identical exchange rates: thus,
published data for the previous period are converted using the
exchange rate for the current period.
Change in revenues from reported to
comparable data
in €M
2022
Effect of changes in scope of
consolidation
Effect of variations in exchange
rates
Effect of the application IAS
29*
Variation on a like-for-like
basis
2023
1st quarter
532.9
+13.6%
-0.8%
+0.1%
+5.4%
630.4
2nd quarter
635.5
+1.4%
-1.2%
+0.1%
+3.3%
658.2
1st semester
1,168.4
+7.0%
-1.1%
+0.1%
+4.3%
1,288.6
* application of hyperinflation accounting treatment for
Argentina
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230724651932/en/
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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