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ID Logistics: Acceleration of Growth in Q2 2021

·6 min read

Revenues of €457.4 million, up 20.5% compared to Q2 2020

  • Q2 2021 revenues: €457.4 million, up 19.1% (up 20.5% like-for-like)

    • Sustained growth in business in France: €195.9 million, +14.8%

    • Continued strong international momentum: €261.5 million, up 22.5% (up 25.1% like-for-like)

  • H1 2021 revenues: €893.1 million, up 15.0% (up 17.7% like-for-like)

ORGON, France, July 22, 2021--(BUSINESS WIRE)--Regulatory News:

ID Logistics (Paris:IDL) (ISIN: FR0010929125, Mnémo: IDL) one of the European leaders in contract logistics, announces today its sales for the second quarter 2021.

Eric Hémar, Chairman and CEO of ID Logistics, commented: « ID Logistics has completed another quarter of strong activity, both in France and outside France, where our growth momentum is not slowing down. The continued growth of our revenues is even more noticeable given that the Group managed to keep its revenues stable in the second quarter of 2020 marked by strict lockdown measures in several countries ».

Revenues (€ million)

2021

2020

Change

2021-2020

Like-for-like %
change 2021-2020*

First quarter

France

180.8

173.5

+4.2%

+4.2%

International

254.9

219.0

+16.4%

+24.0%

Total

435.7

392.5

+11.0%

+15.0%

Second quarter

France

195.9

170.6

+14.8%

+14.8%

International

261.5

213.5

+22.5%

+25.1%

Total

457.4

384.1

+19.1%

+20.5%

First half

France

376.7

344.1

+9.5%

+9.5%

International

516.4

432.5

+19.4%

+24.6%

Total

893.1

776.6

+15.0%

+17.7%

* see definitions in appendix

CONFIRMATION OF THE GOOD START TO 2021 WITH SUSTAINED GROWTH IN Q2

ID Logistics confirms the good start to 2021 with continued strong revenue growth in the 2nd quarter to reach €457.4 million, up +19.1% and +20.5% on a like-for-like basis. As a reminder, activity in the second quarter of 2020 recorded a slight decrease (-0.6%) despite lockdown measures, particularly in France and Spain.

  • In France, ID Logistics recorded a +14.8% increase in revenues to €195.9 million in the past quarter.
    The 2nd quarter of 2020 had been impacted by the lockdown measures in April and early May 2020 before rebounding strongly in June 2020 to end up slightly down (-5.9%) compared to the 2nd quarter of 2019. The temporary downturn in activity was therefore largely offset by the good performance recorded in Q2 2021.

  • International revenues continued to accelerate in Q2 2021, with revenues up 22.5% to €261.5m. Adjusted for a generally unfavorable currency effect, revenues were up 25.1% like-for-like compared with Q2 2020. As a reminder, international activity had increased by +4.1% despite the global health crisis.

ID Logistics thus concludes the 1st half of 2021 with revenues of €893.1 million, up 15.0% (+17.7% on a like-for-like basis), with a level of activity benchmarked in 2020 that had already increased by +4.3% over the same period. Growth in e-commerce activity remains dynamic and accounted for 27% of revenues in the first half of 2021. ID Logistics has started up 9 new warehouses (4 in France and 5 internationally) since the beginning of the year, in line with the roadmap set for 2021.

NEW CONTRACTS

The number of tenders to which ID Logistics is invited remains significant in the second quarter of 2021.

For example, the Group won or started up the following new contracts during the second quarter 2021:

  • In France, ID Logistics will increase its e-commerce position by starting a new activity for a strong
    e-commerce pure player for non-sortable products. The operations will start in July 2021 on a 70,000 sqm warehouse, located in the North of France. About 500 FTE will operate in this site.

  • In Spain, Nueva Pescanova Group, a leading international seafood company, has selected ID Logistics to manage three of its factory warehouses located in Chapela and Porriño (Pontevedra) and Arteixo (A Coruña). ID Logistics, in addition to managing the day-to-day activities, ensures the customs obligations and supports the transformation process of the operations.

  • In Russia, ID Logistics starts a strategic cooperation with LPP, a leading fashion company, strengthening its position in the e-commerce logistics market in Russia. A new 30,000 sqm warehouse, dedicated to e-commerce operations and located in the Moscow region, will be operated by more than 300 FTE.

OUTLOOK

Thanks to the good start to 2021 and taking advantage of its leading position in e-commerce, ID Logistics intends to continue its profitable development, while remaining vigilant to the evolution of the Covid-19 crisis.

ID Logistics also remains attentive to external growth opportunities, particularly in Northern Europe and the United States.

NEXT REPORT

2021 first-half results: August 25, 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

2020

Effects of

acquisitions and disposals

Effects of

exchange rate

fluctuations

Effects of

adoption of

IAS 29*

% like-for-like

change

2021

1st quarter

392.5

-0.4%

-3.6%

-0.0%

+15.0%

435.7

2nd quarter

384.1

n/a

-1.4%

+0.0%

+20.5%

457.4

1st semester

776.6

-0.2%

-2.5%

-0.0%

+17.7%

893.1

* 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)

View source version on businesswire.com: https://www.businesswire.com/news/home/20210722005691/en/

Contacts

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