Revenues for Q2 2024: €782.3m, +19.7% (+16.0% like-for-like)
Revenues for H1 2024: €1,518.6m, +18.7% (+14.3% like-for-like)
Continued strong revenues momentum with the signing of new contracts
ORGON, France, July 22, 2024--(BUSINESS WIRE)--Regulatory News:
ID Logistics (ISIN: FR0010929125, Mnemo: IDL), European leader in contract logistics, today announced its revenues for the second quarter of 2024.
Eric Hémar, Chairman and CEO of ID Logistics, comments: "ID Logistics confirms its very good first quarter of 2024, with a growth pace that accelerated further during the past quarter. Business was particularly brisk in North America, where the Group strengthens its position quarter after quarter. The second quarter also reflects our strong revenues momentum in Europe and the return to growth of our business in France. Fiscal year 2024 should thus mark a new year of profitable growth for ID Logistics".
Revenues, in €m
2024
2023
Change
Change on a like-for-like basis
2nd quarter
782.3
653.5*
+19.7%
+16.0%
1st semester
1,518.6
1,279.4*
+18.7%
+14.3%
*see appendix
ACCELERATED REVENUES GROWTH IN Q2 2024: +19.7% (+16.0% ON A LIKE FOR LIKE BASIS)
ID Logistics recorded revenues of €782.3 million in the 2nd quarter of 2024, up +19.7%. This good performance includes the revenues of Spedimex, a company acquired in Poland and consolidated since June 1er 2023. Adjusted for this perimeter effect and a generally favorable currency effect during the past quarter, like-for-like growth was +16.0% compared with the 2nd quarter of 2023.
During the 2nd quarter of 2024, we note in particular:
Revenues in France have risen slightly (+0.3%), thanks in particular to the start-up of new projects since the beginning of 2024 (France accounts for 27% of Group revenues);
Good quarterly revenues growth in Europe excluding France of +19.2% on a like-for-like basis, representing 48% of Group revenues;
Very strong momentum in the United States (16% of Group revenues), with like-for-like revenues growth of +40.0%;
Like-for-like growth of +20.0% in Latin America and Asia (9% of Group revenues);
In the 2nd quarter of 2024, the Group launched 7 new projects.
ID Logistics thus ended the 1st half-year of 2024 with revenues of €1,518.6 million, up +18.7%, of which +14.3% on a like-for-like basis. Since the beginning of the year, ID Logistics has started up 14 new projects and is ahead of schedule for 2024.
NEW CONTRACTS
ID Logistics continued to respond to a sustained number of calls for tender during the 2nd quarter of 2024. For example, the Group won or started up the following new contracts:
In France, ID Logistics has taken over the management of an activity for a leading French food retailer on a 54,000 sq.m. site in the Bordeaux region, employing 160 people.
In Poland, ID Logistics continues to centralize the management of several brands for a leading fashion company at a new, unified 47,800 sq.m. site employing around 500 people in the west of the country. E-commerce fulfillment activities were integrated into this site during the 2nd quarter of 2024, before the management of returns during the 3rd quarter of 2024.
In the United States, following the launch of the very first activity in the country for one of the Group's main customers in 2023, this global e-commerce giant has renewed its confidence in ID Logistics by entrusting it with the management of a new platform in Pennsylvania. On a 94,000 sq.m. site employing an average of 350 people, operations began at the end of June 2024 and will ramp up for the peak of activity in the 4th quarter.
In the United States, ID Logistics has also won its first contract with one of the world's leading manufacturers and distributors of snacks. This first operation will start up in the 3rd quarter of 2024 on an 18,500 sq.m. site in the Denver, Colorado area. It will employ 50 people.
OUTLOOK
After this very good first half-year, ID Logistics is well positioned to continue supporting world leaders in their efforts to organize and optimize their supply chains, in all the countries where it operates.
NEXT PUBLICATION Half-year results of 2024: August 28, 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 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
2nd quarter
France
211.9
211,3
+0.3%
+0.3%
Europe (excluding France)
377.6
294,3
+28.3%
+19.2%
North America
127.7
90,1
+41.7%
+40.0%
Other
65.1
57,8*
+12.7%
+20.0%
Total
782.3
653,5*
+19.7%
+16.0%
1st semester
France
410.9
411,3
-0.1%
-0.1%
Europe (excluding France)
731.6
573,6
+27.5%
+16.8%
North America
244.3
181,2
+34.8%
+34.8%
Other
131.8
113,3*
+16.4%
+20.8%
Total
1,518.6
1 279,4*
+18.7%
+14.3%
*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 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
2nd quarter
658.2
653.5*
+3.4%
+0.2%
+0.1%
+16.0%
782.3
1st semester
1,288.6
1 279.4*
+4.0%
+0.3%
+0.1%
+14.3%
1,518.6
* 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 with conversion based on the closing rate rather than the average rate for the year.
