Continued strong revenues momentum with the signing of new contracts
ORGON, France, January 24, 2024--(BUSINESS WIRE)--Regulatory News:
ID Logistics (ISIN: FR0010929125, Mnemo: IDL), a European leader in contract logistics, today announced its revenues for the fourth quarter of 2023.
Eric Hémar, Chairman and CEO of ID Logistics, comments: "The last quarter of the 2023 financial year was marked by an acceleration in ID Logistics' revenues growth, driven by the start-up of significant projects in several of our key countries in Europe and across the Atlantic. The Group is perfectly positioned to continue its strong growth momentum in 2024".
Revenues, in €m
2023
2022
Change
Change on a like-for-like basis
4th quarter
776.2
678.1
+14.5%
+11.9%
Total full year
2,747.4**
2,481.3
+10.7%
+7.2%
*see definition in appendix ** as indicated in the appendix, Argentina's revenues reported for the first three quarters of 2023 have been restated to take into account retroactively to January 1st 2023 the devaluation of more than 50% of the Argentine peso decided on December 13, 2023. Argentina accounts for 1% of Group revenues.
ACCELERATED REVENUES GROWTH IN Q4 2023: +14.5% (+11.9% ON A LIKE-FOR-LIKE BASIS)
ID Logistics recorded revenues of €776.2 million in the 4th quarter of 2023, up +14.5%. This performance includes the revenues of Spedimex, a company acquired in Poland and consolidated since June 1st 2023. Adjusted for this scope effect and a generally unfavorable exchange rate effect over the past quarter, like-for-like growth was +11.9% compared with the 4th quarter of 2022. Over the past quarter, the following were particularly noteworthy:
Very strong revenues momentum in the United States, with growth accelerating further to +34.1% on a like-for-like basis;
Quarterly revenues growth in Europe (excluding France) of +10.5% on a like-for-like basis, driven in particular by Poland, Italy and the opening of the United Kingdom;
Lower revenues in France (-5.9% of revenues in Q4 2023 vs. Q4 2022), in line with previous quarters, marked by weak consumption volumes and the postponement of some new site start-ups to 2024.
ID Logistics thus ended 2023 with revenues of €2,747.4 million, up +10.7%, of which +7.2% on a like-for-like basis. Over the past year, ID Logistics started up 22 new projects.
NEW CONTRACTS
ID Logistics continued to respond to a sustained number of calls for tender during the 4th quarter of 2023.
For example, the Group won or started up the following new contracts:
In France, AB Inbev entrusts ID Logistics with the operation of two logistics sites of 32,000 sq.m. and 60,000 sq.m. to optimize distribution flows for its large retail networks as well as for its coffee shops, hotels and restaurants.
In Italy, ID Logistics has been chosen by Carrefour, the leading French in the retail business, to manage a 42,000 sq.m. food products site south of Milan. Almost a year after the opening of this ID Logistics subsidiary, this start-up confirms the commercial synergy with the Group's long-standing customers.
In the United States, ID Logistics continues to deploy its expertise with FMCG producers. The Group has begun operations for a leading manufacturer of consumer cleaning products at a site in the Chicago area. ID Logistics has also been selected by an American multinational specializing in beverages and snacks to manage logistics and co-packing services at two sites in the Atlanta area, covering a total surface area of 118,000 sq.m.
OUTLOOK
In 2024, ID Logistics will continue to support world leaders in the organization and optimization of their supply chains, particularly in the retail, e-commerce, fashion, consumer goods and luxury goods sectors. Commercial developments in the United States and Poland, the result of investments made over the last two years, and the recent opening of Italy and the United Kingdom confirm the relevance of this strategy.
NEXT PUBLICATION
Annual results 2023: March 13, 2024, after market close.
ABOUT ID LOGISTICS :
ID Logistics, managed 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 sq.m. operated in Europe, America, Asia and Africa, with 38,000 employees.
With a customer portfolio balanced between retail, 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
2023
2022
Change
Change on a like-for-like basis*
4th quarter
International
567.1
455.8
+24.4%
+20.9%
France
209.1
222.3
-5.9%
-5.9%
Total
776.2
678.1
+14.5%
+11.9%
Full year
International
1,920.9**
1,620.2
+18.6%
+13.4%
France
826.5
861.1
-4.0%
-4.0%
Total
2,747.4
2,481.3
+10.7%
+7.2%
*see definition below ** as indicated below, Argentina's revenues reported for the first three quarters of 2023 have been restated to take account retroactively to January 1st, 2023 of the devaluation of around 50% of the Argentine peso decided on December 13, 2023.
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 of IAS 29*
Change on a like-for- like basis
2023 restated
2023 reported
1st quarter
533.0
+13.6%
-0.8%
-0.9%
+5.5%
625.9*
630.4
2nd quarter
635.5
+1.4%
-1.2%
-0.8%
+3.4%
653.5*
658.2
3th quarter
634.7
+4.6%
-2.5%
-0.6%
+7.5%
691.8*
696.0
4th quarter
678.1
+4.8%
-1.9%
-0.3%
+11.9%
776.2
n/a
Total annual months
2,481.3
+5.7%
-1.6%
-0.6%
+7.2%
2,747.4
n/a
*Application of the hyperinflation accounting treatment for Argentina, with conversion based on the closing rate rather than the average rate for the year. The first three reported quarters have thus been restated to apply the December 31, 2023 rate, including the peso devaluation of over 50% announced on December 13, 2023.
