• Q4 2020: revenue growth of +12.0% to €454.1m (+9.1% like-for-like) compared to Q4 2019
    • Another quarter of strong international sales growth, up 18.7% (13.7% like-for-like) to €261.0 million
    • Acceleration of growth in France to +4.0% to €193.1m
  • 2020 annual revenues: €1,642.8 million, up 7.1% (+4.9% like-for-like) compared to 2019

Regulatory News:

ID Logistics (Paris:IDL) (ISIN: FR0010929125, Mnémo: IDL) one of the European leaders in contract logistics, announces today its sales for the fourth quarter of 2020.

Eric Hémar, Chairman and CEO of ID Logistics, commented: « The strong positioning of ID Logistics in high-growth sectors (e-commerce, food), its balanced geographical footprint and its ability to adapt have proved to be decisive assets in achieving another growth in sales despite an unprecedented context. I would like to thank all of our teams for their unfailing commitment and our customers for their trust and loyalty. »

Revenues (€ million)

2020

2019

% change

Like-for-like % change

Fourth quarter

 

 

 

 

France

193.1

185.7

+4.0%

+4.0%

International

261.0

219.8

+18.7%

+13.7%

Total

454.1

405.5

+12.0%

+9.1%

Full-Year

 

 

 

 

France

721.0

714.7

+0.9%

+0.9%

International

921.8

819.5

+12.5%

+8.7%

Total

1,642.8

1,534.2

+7.1%

+4.9%

STRONG GROWTH IN Q4 2020

ID Logistics confirmed the good commercial performance that began in the third quarter, with accelerated growth in the fourth quarter and sales of €454.1 million, up 12.0% compared to 2019 (+9.1% like-for-like).

  • In France, ID Logistics' sales increased by +4.0% to €193.1 million and shows a growth rate higher than that observed in the 1st quarter of 2020, before the Covid-19 crisis.
  • International sales continued to grow at a high rate during the fourth quarter of 2020, up 18.7% to €261.0 million. This performance includes a currency effect, which remains unfavorable overall, particularly in Latin America, a scope effect related to the closure of activities in China in June 2020 and the consolidation of the Jagged Peak activities in the United States since December 2019. Excluding these elements, net sales rose 13.7% during the past quarter.

GROWTH OF 7.1% OVER THE FULL YEAR 2020

Thanks to a diversified customer portfolio (40% in food production and distribution and 25% in e-commerce) and a balanced geographical footprint, ID Logistics posted revenue growth over almost the entire year, limiting the decline in activity in the second quarter to just -0.6%. The upturn in activity in the third quarter and then the acceleration in the fourth quarter enabled ID Logistics to achieve revenues of 1,642.8 million in 2020, up 7.1% (up 4.9% like-for-like).

Over this period, the Group started up 18 new sites (6 in France and 12 outside France), a number slightly higher than the initial plan. In Q4 2020 alone, the e-commerce business grew by more than 30% and now accounts for nearly 25% of ID Logistics' revenue.

NEW CONTRACTS

Despite the health crisis context, the pace of calls for tender remains high, particularly in e-commerce, which accounts for nearly half of them. The 4th quarter of 2020 was thus once again an opportunity for ID Logistics to continue its commercial development, winning several contracts. For example, the Group won or started the following new contracts:

  • In France, Leroy Merlin continues its partnership with ID Logistics by adding a third warehouse in France, representing 41.000m² of warehouse and serving 17 stores.
  • In Germany, ID Logistics is expanding its strong market position in E-Commerce supply chain and offers now not only pick & pack but also sorting & distribution center services. ID Logistics opened its first 16,000 m² sorting & distribution center in Ginsheim-Gustavsburg (close to Frankfort) with up to 300 employees in periods of peak activity.
  • In Spain, ID Logistics continues its partnership with the group Auchan through its supermarket brand Simply. ID Logistics will manage all warehousing activities dedicated to more than 350 Simply stores from its 3 platforms located in the central-east area of Spain in Zaragoza. 

OUTLOOK

ID Logistics intends to continue its development over the current year, while remaining very cautious about the evolution of the health crisis linked to Covid-19. In this context, the Group's priorities remain focused on supporting its customers as closely as possible to their needs, protecting its employees and managing its cash flow. It also remains attentive to external growth opportunities, particularly in Northern Europe and the United States.

NEXT REPORT

2020 annual results: March 17, 2021, after market close.

ABOUT ID LOGISTICS

ID Logistics is an international contract logistics group, with revenue of €1,643 million in 2020. ID Logistics has more than 340 sites across 17 countries, representing 6.0 million square meters of warehousing facilities in Europe, America, Asia and Africa, with 21,500 employees. With a client portfolio balanced between retail, industry, detail picking, healthcare and e-commerce sectors, ID Logistics is characterized by offers involving a high level of technology. Developing a social and environmental approach through a number of original projects since its creation in 2001, the Group is today resolutely committed to an ambitious CSR policy.

ID Logistics is listed on Compartment A of NYSE Euronext’s regulated market in Paris (ISIN Code: FR0010929125, Ticker: IDL).

 

Appendix

Like-for-like change

Changes in revenue on a like-for-like basis reflect ID Logistics’ organic performance excluding the impact of:

- acquisitions and disposals: the revenue contribution of companies acquired during the period is excluded from the same period, and the revenue contribution made by companies sold during the previous period is also excluded from that period;

- changes in the applicable accounting principles;

- changes in exchange rates by calculating the revenues in the various periods based on identical exchange rates, so that the reported figures for the previous period are translated using the exchange rates for the current period.

Reconciliation of reported revenues to revenues on a like-for-like basis

(€m)

2019

Effects of acquisitions and disposals*

Effects of

exchange rate fluctuations

Effects of adoption of IAS 29**

% like-for-like change

2020

1st quarter

358.1

+3.5%

-1.1%

-0.2%

+7.4%

392.5

2nd quarter

386.4

+4.9%

-2.3%

-0.3%

-3.0%

384.1

3rd quarter

384.2

+4.4%

-2.8%

-0.2%

+5.9%

412.1

4th quarter

405.5

+5.7%

-2.7%

-0.1%

+9.1%

454.1

12 months

1,534.2

+4.6%

-2.2%

-0.2%

+4.9%

1,642.8

* end of operations in South Africa in September 2019 and in China in June 2020 and consolidation in December 2019 of the Jagged Peak activities in the United States

** Accounting treatment for hyperinflationary in Argentina

Definitions

  • EBITDA: Underlying operating income before net depreciation of property, plant and equipment and amortisation of intangible assets
  • Net financial debt: Gross debt plus bank overdrafts and less cash and cash equivalents
  • Net debt: Net financial debt plus rent liabilities (IFRS 16)

ID Logistics Yann Perot CFO Tel.: + 33 (0)4 42 11 06 00 yperot@id-logistics.com

NewCap Emmanuel Huynh / Thomas Grojean Investor Relations & Financial Communications Tel.: +33 (0)1 44 71 94 94 idlogistics@newcap.eu

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