Revenues for Q3 2024: €827.3m, +19.6% (+20.1% like-for-like)
Revenues for the first 9 months of 2024: €2,345.9m, +19.0% (+16.3% like-for-like)
Continued strong revenues momentum with the signing of new contracts
ORGON, France, October 22, 2024--(BUSINESS WIRE)--Regulatory News:
ID Logistics (ISIN: FR0010929125, Mnemo: IDL), European leader in contract logistics, today announced its revenues for the third quarter of 2024.
Eric Hémar, Chairman and CEO of ID Logistics, comments: "Following on from the 1st half-year of 2024, ID Logistics has once again recorded strong growth in quarterly revenues. All geographic regions contributed to this good performance, with a clear upturn in business in France and continued strong revenues momentum in the United States. The Group's immediate priorities are to make a success of start-ups, ramp up productivity at recently launched sites, get through the end-of-year peaks and sign new contracts. 2024 will once again be a year of strong growth for ID Logistics.
Revenues, in €m
2024
2023
Change
Change on a like-for-like basis
3rd quarter
827.3
691,8*
+19.6%
+20.1%
Total 9 months
2,345.9
1,971,2*
+19.0%
+16.3%
*See appendix
ACCELERATED REVENUES GROWTH IN Q3 2024: +19.6% (+20.1% ON A LIKE FOR LIKE BASIS)
ID Logistics reported revenues of €827.3 million for the 3rd quarter of 2024, up +19.6%. Adjusted for a generally unfavorable currency effect during the quarter, like-for-like growth was +20.1% compared with the 3rd quarter of 2023.
During the 3rd quarter of 2024, we note in particular:
The clear rebound in business in France, +6.1%, (26% of Group revenues) thanks in particular to the start-up of new projects since the beginning of 2024;
Strong quarterly revenues growth in Europe excluding France, up 18.5% on a like-for-like basis, a region which accounts for 48% of Group revenues;
Continued strong momentum in the United States (18% of Group revenues), with like-for-like revenues increase of +48.6%;
Sustained growth in Latin America and Asia, up 31.7% on a like-for-like basis (8% of Group revenues);
During the 3rd quarter of 2024, the Group launched 7 new projects.
In the first 9 months of 2024, ID Logistics recorded revenues of €2,345.9 million, up +19.0%. This good performance includes the revenues of Spedimex, a company acquired in Poland and consolidated since June, 1st 2023. Adjusted for this consolidation effect and a slightly favorable currency effect over the period, like-for-like growth was +16.3% compared with the first 9 months of 2023. Since the beginning of the year, ID Logistics has started up 21 new projects.
NEW CONTRACTS
ID Logistics continued to respond to a sustained number of calls for tender during the 3rd quarter of 2024. For example, the Group won or started up the following new contracts:
In France, the Group is supporting Intermarché in the transfer of certain activities from the Casino group. ID Logistics is taking over the 52,200 sq.m. Saint Bonnet les Oules site (near Saint-Etienne).
In Romania, ID Logistics is continuing its partnership with Carrefour, and will be starting up a new 32,000 sq.m. operation employing around a hundred people north of Bucharest. This site will distribute non-food products to the country's 420 stores.
In Germany, ID Logistics is starting up a new business for a global e-commerce giant. Located in the Hanover region, this 17,000 sq.m. site will employ 270 people to handle cosmetics, perfumes and alcoholic beverages.
In Italy, the Group is starting up two new sites for Leroy Merlin in the Milan region. With a total surface area of 22,500 sq.m., they will manage inventories and deliveries for some thirty stores in the north of the country.
OUTLOOK
With business recovering in France and further acceleration in the United States, ID Logistics is well on track to post record growth in 2024, while remaining focused on increasing the productivity of recent projects and managing the year's start-ups. ID Logistics teams also remain fully mobilized to ensure the success of the last quarter's business peaks (Black Friday, end-of-year holidays).
NEXT PUBLICATION Revenues for the Q4 2024: January 27, 2025, 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 number of original social and environmental 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 like-for-like basis
3rd quarter
France
216.6
204.1
+6.1%
+6.1%
Europe (excluding France)
395.6
328.9
+20.3%
+18.5%
North America
146.2
99.3
+47.2%
+48.6%
Other
68.8
59.5*
+15.6%
+31.7%
International
610.6
487.7*
+25.2%
+26.0%
Total
827.3
691.8*
+19.6%
+20.1%
Total 9 months
France
627.5
615.4
+2.0%
+2.0%
Europe (excluding France)
1 127.2
902.5
+24.9%
+17.4%
North America
390.5
280.5
+39.2%
+39.6%
Other
200.6
172.8*
+16.1%
+24.3%
International
1,718.3
1,355.8*
+26.7%
+22.8%
Total
2,345.9
1,971.2*
+19.0%
+16.3%
*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 changes in scope
Effect of
changes 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
2nd quarter
658.2
653.5*
+3.4%
+0.2%
+0.1%
+16.0%
782.3
3rd quarter
696.0
691.8*
n/a
-0.5%
-0.0%
+20.1%
827.3
Total 9 months
1,984.6
1,971.2*
+2.5%
+0.1%
+0.1%
+16.3%
2,345.9
* Argentina's revenues published for the first three quarters of 2023 have been restated to take account retroactively to January 1st 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.
