Continued strong revenues momentum with the signing of new contracts
ORGON, France, January 27, 2025--(BUSINESS WIRE)--Regulatory News:
ID Logistics (ISIN: FR0010929125, Mnemo: IDL), the European leader in contract logistics, today announced its revenues for the fourth quarter of 2024
Eric Hémar, Chairman and CEO of ID Logistics, comments: "ID Logistics recorded another year of strong growth in 2024. This performance validates the relevance of our positioning and illustrates the confidence of our customers and the commitment of our teams. All our geographical regions are growing, particularly France, which is rebounding sharply, and the United States, which is proving to be the Group's main growth driver, quarter after quarter. In line with our business model, our main challenge now is to ensure the smooth ramp-up in productivity of projects launched in 2024, and to pursue our rapid expansion by combining organic growth and selective acquisitions while maintaining our excellent financial position".
Revenues, in €m
2024
2023
Change
Change on a like-for-like basis
4th quarter
925.1
776.2
+19.2%
+19.4%
Total full year
3,271.0
2,747.4*
+19.1%
+17.2%
*see appendix
INCREASE IN REVENUES GROWTH DURING 2024: +19.2% (+19.4% ON A LIKE-FOR-LIKE BASIS) IN Q4 2024
ID Logistics recorded revenues of €925.1 million in Q4 2024, up +19.2%. Adjusted for a generally unfavorable currency effect during the quarter, like-for-like growth was +19.4% compared with the 4th quarter of 2023.
During the 4th quarter of 2024, we observe in particular:
A marked acceleration in business in France, up 15.0% (26% of Group revenues) thanks to a rebound in consumption at the end of the year, particularly in e-commerce and the contribution of new project start-ups since the beginning of 2024;
Good quarterly growth in Europe excluding France, up 14.8% on a like-for-like basis, a region which accounts for 48% of Group revenues;
The very strong momentum in the United States (18% of Group revenues) continues, with revenues growth of+ 38.4% on a like-for-like basis;
Sustained business activity in Latin America and Asia, +26.6% on a like-for-like basis (8% of Group revenues);
The Group launched 5 new projects during the quarter.
Overall, ID Logistics recorded 2024 revenues of €3,271.0 million, up +19.1%. 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 slightly unfavorable currency effect in 2024, like-for-like growth was +17.2% compared with 2023. In 2024, ID Logistics started up 26 new projects.
NEW CONTRACTS
ID Logistics continued to respond to a sustained number of tenders during the 4th quarter of 2024. By way of example, the Group won or started up the following new contracts:
After taking over the activities of a site in the Bordeaux region for a leading retailer in early 2024, ID Logistics has started up two new sites for food retailers in the Grand Ouest region of France;
The Group started up a fourth site in Taiwan for the Coupang group, Asian leader in e-commerce, bringing the surface area operated on behalf of this customer to over 40,000 sq. m. with more than 50 employees;
In the United States, following the opening of a first site in summer 2024 for a global leader in snacking, ID Logistics started up a second distribution center for this customer in November. With a surface area of 10,000 sq.m., this new site is located in Colorado and employs 50 people.
OUTLOOK
Having achieved record growth in 2024, ID Logistics will continue to ensure that the productivity of its recently opened sites increases in line with its development model.
During the 4th quarter of 2024, ID Logistics refinanced its syndicated credit facility (balance of €335m at June 30, 2024) with improved financial terms and a new repayment schedule up to 2029. On this occasion, the Group also benefited from the provision of a €100m revolving credit line and a €150m financing line dedicated to operating investments. As a reminder, in September 2024, ID Logistics successfully completed a €135m capital increase
Given this available investment capacity, ID Logistics aims to achieve another year of strong organic growth. The Group also confirms its intention to carry out external growth operations.
NEXT PUBLICATION Annual results 2024: March 12, 2025, after market close
ABOUT ID LOGISTICS:
ID Logistics, headed by Eric Hémar, is an international contract logistics group with revenues of €3.3 billion in 2024. ID Logistics manages nearly 450 sites in 18 countries, representing more than 8.5 million m² operated in Europe, America, Asia and Africa, with 40,000 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 like-for-like basis
4th quarter
France
240.5
209.1
+15.0%
+15.0%
Europe (excluding France)
448.6
386.8
+16.0%
+14.8%
North America
163.7
117.4
+39.4%
+38.4%
Other
72.3
62.9
+14.9%
+26.6%
International
684.6
567.1
+20.7%
+21.0%
Total
925.1
776.2
+19.2%
+19.4%
Full year
France
868.1
826.5
+5.0%
+5.0%
Europe (excluding France)
1,575.8
1,287.2
+22.4%
+16.8%
North America
554.2
398.0
+39.2%
+39.3%
Other
272.9
235.7*
+15.8%
+24.9%
International
2,402.9
1,920.9*
+25.1%
+22.4%
Total
3,271.0
2,747.4*
+19.1%
+17.2%
*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
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
3th quarter
696.0
691.8*
n/a
-0.5%
-0.0%
+20.1%
827.3
4th quarter
776.2
776.2
n/a
-0.2%
-0.0%
+19.4%
925.1
Full-year
2,760.8
2,747.4*
+1.9%
-0.0%
+0.0%
+17.2%
3,271.0
* Argentina revenues published for the first three quarters of 2023 have been restated to take account retroactively to January 1,2023 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.
