Saturday 04 February 2023

ID Logistics: Strong Business Growth and Strategic Advances In 2022

2022 revenues: €2,509m, up 31.3% (up 11.3% like-for-like)

Q4 2022 revenues: €686.3m, up 24.9% (up 4.7% like-for-like)

Growth in France: €222.3 million, up 6.8% (up 2.5% like-for-like)

Continued good momentum in international markets: €464.0 million, up 35.9% (up 5.9% like-for-like)

End of activities in Russia, which represented approximately 1% of Group revenues in 2022

ORGON, France–(BUSINESS WIRE)–Regulatory News:

ID Logistics, (ISIN: FR0010929125, Mnemo: IDL) one of the European leaders in contract logistics, today announced its revenues for the fourth quarter of 2022.

Eric Hémar, Chairman and CEO of ID Logistics, comments: “The year 2022 was a pivotal one for the development of our Group with strong growth in activity and a geographical deployment on both sides of the Atlantic marked by the acquisition of Kane Logistics in the United States. Our recent opening in Italy also completes our European footprint. The Group has now reached a critical size in France, Europe and America, which allows us to enter 2023 with ambition to continue the development of our profitable growth model”.

Revenues, in €m

 

2022

 

2021

 

Change

 

Change on a

like-for-like basis*

4th quarter

 

 

 

 

 

 

 

 

France

 

222.3

 

208.1

 

+6.8%

 

+2.5%

International

 

464.0

 

341.5

 

+35.9%

 

+5.9%

Total

 

686.3

 

549.6

 

+24.9%

 

+4.7%

Total year

 

 

 

 

 

 

 

 

France

 

861.1

 

775.9

 

+11.0%

 

+5.3%

International

 

1,647.6

 

1,135.0

 

+45.2%

 

+15.3%

Total

 

2,508.7

 

1,910.9

 

+31.3%

 

+11.3%

*See definition in appendices

GOOD GROWTH OF +24.9% IN Q4 2022 (+4.7% ON A LIKE FOR LIKE BASIS WITH A STRONG COMPARATIVE PERFORMANCE)

ID Logistics has again recorded a good level of growth in its revenues, reaching €686.3 million in the 4th quarter of 2022, up +24.9% and +4.7% on a like-for-like basis compared to the 4th quarter of 2021, which had already seen very strong growth of +21.0%, following the end of the pandemic.

In France, revenues increased by +6.8% to €222.3 million in the 4th quarter of 2022. Adjusted for the consolidation of Colisweb (acquired in January 2022), growth came to +2.5% in the 4th quarter of 2022. As a reminder, the 4th quarter of 2021 had recorded strong growth of +7.8%.

In other countries, the good growth in revenues continued in the 4th quarter of 2022, reaching €464.0 million, or +35.9%. This increase includes revenues from GVT, acquired in the Benelux in December 2021, and from Kane Logistics, acquired in the United States in March 2022. Adjusted for these changes in the scope of consolidation and a generally positive exchange rate effect during the quarter, like-for-like growth came to 5.9% compared with the 4th quarter of 2021, which had already recorded a significant increase of 30.8%.

ID Logistics will generate revenues of €2,508.7 million in 2022, up 31.3% (+11.3% like-for-like). The Group has started up 16 new sites over the full year 2022.

NEW CONTRACTS

The number of calls for tender to which ID Logistics is invited to respond remains high in the fourth quarter of 2022, as clients and prospects have now integrated the impacts of the new economic environment into their forecasts.

For example, the Group won or started the following new contracts during this quarter:

In Romania, Ursus Breweries, the largest beer producer in Romania, has entrusted ID Logistics with its warehousing operations on an 18,000 sq.m. site in Timisoara

In Poland, ID Logistics continues its strong development and strengthens its local position on the retail market by signing an agreement for a second distribution center for Auchan. With a surface of 54,000 sq.m. and nearly 500 employees, this site will be dedicated to the distribution of ambient and temperature controlled products in the South of Poland.

In Brazil, ID Logistics will open a new warehouse in Extrema City for Diageo in early 2023, offering a high degree of sustainability and aiming to make the facility its regional center of excellence in Latin America.

This project adds an important consumer goods business to ID Logistics’ portfolio in Brazil, and strengthens the international partnership between ID Logistics and Diageo.

Finally, Nespresso has renewed all its logistics activities with ID Logistics in the United States. This decision by the Group’s historical and main client in the United States is a great sign of confidence. It confirms the interest of the acquisition of Kane Logistics at the beginning of 2022, and the capacity of the organization put in place to meet the expectations of major international customers.

END OF ACTIVITIES IN RUSSIA

During the 4th quarter of 2022, ID Logistics finalized the transfer of its 8 active files in Russia to its customers or their partners. At the end of these transfers, ID Logistics has no more activity in Russia since the beginning of January 2023. Vera Gorbacheva, General Manager of ID Logistics Russia, has resigned as a member of the Board of Directors of ID Logistics Group. The Board of Directors warmly thanked Vera for the very professional management of this end of activity and her contribution throughout the last 11 years.

OUTLOOK

After the strategic moves of 2022, ID Logistics is well positioned to continue its profitable development, relying in particular on its growth drivers in Europe (notably Poland and Italy) and the United States. The Group remains vigilant to the evolution of the macro-economic situation and attentive to the needs of its customers.

NEXT PUBLICATION

Annual results 2022: March 15, 2023, after market close.

ABOUT ID LOGISTICS:

ID Logistics, managed by Eric Hémar, is an international contract logistics group with revenue of €2.5 billion in 2022. ID Logistics manages 365 sites across 17 countries representing more than 8 million square meters of warehousing facilities in Europe, America, Asia and Africa, with 30,000 employees.

With a client portfolio balanced between retail, industry, 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 shares are listed on the regulated market of Euronext Paris, compartment A (ISIN code: FR0010929125, Ticker: IDL).

APPENDIX

CHANGE ON A COMPARABLE BASIS

The like-for-like changes in revenues 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 disposed of during the previous period is excluded from this period;

– changes in the applicable accounting principles;

– changes in exchange rates by calculating revenues for the various 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.

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

in €m

 

2021

 

Scope effects

 

Effect of

exchange rate

fluctuations

 

Effect of

adoption of

IAS 29*

 

% Like-for-like

change

 

2022

4th quarter

 

549.6

 

+20.1%

 

+0.1%

 

+0.0%

 

+4.7%

 

686.3

Total year

 

1,910.9

 

+19.0%

 

+1.1%

 

-0.1%

 

+11.3%

 

2,508.7

*Accounting treatment for hyperinflationary in Argentina

ACTIVITIES IN RUSSIA

The quarterly revenues of the now discontinued operations in Russia were as follows:

in €m

 

1st quarter

 

2nd quarter

 

3rd quarter

 

4th quarter

 

Year

2021

 

6.2

 

6.4

 

7.8

 

9.9

 

30.3

2022

 

6.0

 

6.1

 

7.1

 

8.2

 

27.4

 

Contacts

Yann Perot – CFO

Tel : +33 (0)4 42 11 06 00

yperot@id-logistics.com

Investor Relations Contact
NewCap

Tel. 33 (0)1 44 71 94 94

idlogistics@newcap.eu

 

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