• Revenue growth of +7.3% to €412.1 million in Q3 2020 (+5.9% like-for-like) compared to 2019
    • International activity accelerates to €228.3m, up 11.8% (up 9.5% like-for-like)
    • Resumption of growth in France at €183.8 million, +2.1%
  • Revenues for the first nine months of 2020: €1,188.7 million, up +5.3%

Regulatory News:

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

Eric Hémar, Chairman and CEO of ID Logistics, commented: « After resisting well to the Covid-19 health crisis during the 2nd quarter of 2020, ID Logistics has returned to a sustained growth pace from the 3rd quarter of 2020 due to the quality of its customer portfolio, particularly in e-commerce, and the continued opening of sites during the first half of the year, especially abroad. The Group continues to adapt to the pandemic's evolution by focusing above all on customer service and the safety of its teams. »

Revenues (€ million)

2020

2019

% change

Like-for-like % change

Third quarter

 

 

 

 

France

183.8

180.0

+2.1%

+2.1%

International

228.3

204.2

+11.8%

+9.5%

Total

412.1

384.2

+7.3%

+5.9%

Total 9 months

 

 

 

 

France

527.9

529.0

-0.2%

-0.2%

International

660.8

599.7

+10.2%

+6.8%

Total

1,188.7

1,128.7

+5.3%

+3.4%

GOOD BUSINESS RECOVERY IN Q3 2020

After a resilient second quarter in 2020 (sales stable compared to the second quarter of 2019), ID Logistics recorded sustained growth in sales from the third quarter of 2020 to €412.1 million, up 7.3% compared to 2019 (+5.9% like-for-like).

  • In France, ID Logistics' sales increased by 2.1% to €183.8 million and the business is back on the growth track month after month.
  • International revenues for the third quarter of 2020 is up sharply, +11.8%, to €228.3 million, with a continued acceleration throughout the quarter. This performance includes a generally unfavorable exchange rate effect, particularly in Latin America, a change in the scope of consolidation due to the end of operations in South Africa in September 2019 and in China in June 2020 and the consolidation in December 2019 of the Jagged Peak activities in the United States. Excluding all of these items, net sales rose 9.5% during the past quarter.

The good business recovery in the third quarter of 2020 following the sustained growth in the first quarter of 2020 and the resilience shown in the second quarter of 2020 enabled ID Logistics to achieve sales of €1,188.7 million in the first nine months of 2020, up 5.3% (+3.4% like-for-like). During this period, the Group started up 15 new sites (5 in France and 10 outside France).

NEW CONTRACTS

Despite the health crisis context, the third quarter of 2020 was once again an opportunity for ID Logistics to pursue its commercial development, winning several calls for tenders. For example, the Group won or started the following new contracts:

  • In France, Leroy Merlin renews its confidence in ID Logistics to manage a new 24,000 m² warehouse that will distribute the 12 stores in the Lyon region from 2021.
  • The Nestlé group strengthens its partnership with ID Logistics in France with the creation of a warehouse in the Paris region that will group together the activities of the Nespresso and Dolce Gusto brands for multi-channel distribution.
  • In Brazil, ID Logistics reinforces its position as a specialist in logistics for consumer goods with a new 17,000 m² activity for Johnson & Johnson in the São Paulo region.
  • After Germany and France, ID Logistics continues its development with one of the world leaders in e-commerce in Poland with the opening in record time of a 42,000 m² site in the west of the country.

OUTLOOK

Thanks to a still very diversified customer portfolio (40% in food production and distribution and 20% in e-commerce) and a balanced geographical footprint, ID Logistics maintains a good level of activity despite the context of the health crisis. The pace of start-ups continues to be dynamic and the Group keeps receiving numerous calls for tender, particularly in the e-commerce sector.

ID Logistics therefore intends to continue its development over the end of 2020, while remaining very cautious about the evolution of the health crisis linked to Covid-19. In this context, the Group's priorities remain the protection of its employees, the support of its customers as close as possible to their needs and sound cash management. It remains attentive to external growth opportunities, particularly in Northern Europe and the United States.

NEXT REPORT

Publication of fourth-quarter 2020 revenues on 25 January 2021 after market close.

ABOUT ID LOGISTICS

ID Logistics is an international contract logistics group, with revenue of €1,534 million in 2019. ID Logistics has more than 320 sites across 18 countries, representing 5.8 million square meters of warehousing facilities in Europe, America, Asia and Africa, with 21,000 employees. With a client portfolio balanced between retail, industry, detail picking, healthcare and e-commerce sectors, ID Logistics delivers high-tech solutions and is firmly committed to sustainable development. 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

9 months

1,128.7

+4,2%

-2,1%

-0,2%

+3,4%

1,188.7

* 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