- Revenues for Q1 2024: €736.3m, +17.6% (+12.4% like-for-like)
- Continued strong revenues momentum with the signing of new contracts
Regulatory News:
ID Logistics (ISIN: FR0010929125, Mnemo: IDL), European leader in contract logistics, today announced its revenues for the first quarter of 2024.
Eric Hémar, Chairman and CEO of ID Logistics, comments: "The first quarter of the 2024 financial year marked a further acceleration in ID Logistics' revenues growth compared with the end of 2023. This good revenues momentum was driven by the start-up of major projects in several of our key countries, both in Europe and across the Atlantic. The Group is thus well positioned to pursue its profitable growth trajectory in 2024".
Revenues, in €m | 2024 | 2023 | Variation | Change on a
|
1st quarter | 736.3 | 625.9* | +17.6% | +12.4% |
*see appendix
REVENUES GROWTH FOR 1ST QUARTER 2024: +17.6% (+12.4% ON A LIKE-FOR-LIKE BASIS)
ID Logistics recorded revenues of €736.3 million in the 1st quarter of 2024, up +17.6%.
This good performance includes the revenues of Spedimex, a company acquired in Poland and consolidated since June 1st 2023. Adjusted for this perimeter effect and a generally favorable exchange rate effect during the quarter, like-for-like growth was +12.4% compared with the 1st quarter 2023.
Particularly noteworthy during the quarter were:
- Revenues stabilized in France (-0.5% of revenues) after a 2023 characterized by lower consumption volumes;
- Quarterly revenues growth in Europe (excluding France) of +14.3% on a like-for-like basis;
- Very strong momentum in the United States, with like-for-like revenues growth of 29.5%;
- Like-for-like growth of +21.6% in Latin America and Asia.
Over the past quarter, ID Logistics started up 7 new projects.
NEW CONTRACTS
ID Logistics continued to respond to a sustained number of calls for tender during the 1st quarter 2024.
For example, the Group won or started up the following new contracts:
- In France, before summer 2024, ID Logistics will be starting up a new activity for one of its main customers, a global e-commerce giant, on an 86,000 sq.m. site near Amiens.
- In Brazil, Wella Company, world leader in the beauty industry, has entrusted ID Logistics with the management of logistics activities at its new 12,000 sq.m. national distribution center in the south of the state of Minas Gerais.
- In the United States, continuing its collaboration with one of the world's largest candy manufacturers, ID Logistics will take over management of a 28,000 sq.m. site southwest of Chicago.
OUTLOOK
After this excellent start to the year, ID Logistics is well positioned to continue supporting world leaders in their approach to supply chain organization and optimization, in all the countries where it operates.
NEXT PUBLICATION
Revenues for 2nd quarter 2024: July 22, 2024, after market close.
ABOUT ID LOGISTICS :
ID Logistics, headed by Eric Hémar, is an international contract logistics group with revenues of €2.75 billion in 2023. ID Logistics manages nearly 400 sites in 18 countries, representing more than 8 million m² operated in Europe, America, Asia and Africa, with 38,000 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 and are included in the SBF 120 index (ISIN code: FR0010929125, Mnemo: IDL).
APPENDIX
Revenues, in M€ | 2024 | 2023 | Change | Change on a
|
1st quarter | ||||
France | 199.0 | 200.0 | -0.5% | -0.5% |
Europe (excluding France) | 354.0 | 279.3 | +26.8% | +14.3% |
North America | 116.7 | 91.1 | +28.0% | +29.5% |
Other | 66.6 | 55.5 | +20.2% | +21.6% |
Total | 736.3 | 625.9 | +17.6% | +12.4% |
*see below
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 | 2023 reported | 2023 restated | Effect of changes in scope of consolidation | Effect of variations in exchange rates | Effect of the application IAS 29** | Change on a like-for-like basis | 2024 |
1st quarter | 630.4 | 625.9* | +4.7% | +0.4% | +0.1% | +12.4% | 736.3 |
* Argentina's revenues published for the first three quarters of 2023 have been restated to take account retroactively to January 1er 2023 of the devaluation of more than 50% of the Argentine peso decided on December 13, 2023.
** Application of the hyperinflation accounting treatment for the Argentinian e with conversion based on the closing rate rather than the average rate for the year.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240423871920/en/
Contacts:
ID LOGISTICS
Yann Perot CFO
Tel: +33 (0)4 42 11 06 00
yperot@id-logistics.com
Investor Relations
NewCap
Tel. 33 (0)1 44 71 94 94
idlogistics@newcap.eu
