ORGON, France--(BUSINESS WIRE)--Regulatory News:
ID Logistics, (ISIN: FR0010929125, Ticker: IDL) (Paris:IDL) one of the European leaders in contract logistics, is today reporting its revenues for the first quarter of 2022.
Eric Hémar, Chairman and CEO of ID Logistics, commented: « The first quarter of 2022 confirmed the Group's growth momentum, both in France and in international markets. In addition to maintaining our sales momentum, we are finalizing the integration of the two acquisitions made at the end of 2021 and are beginning to integrate Kane Logistics, acquired at the end of March 2022 ».
Revenues, €m |
2022 |
2021 |
Change |
Like-for-like %
|
1st quarter |
|
|
|
|
France |
204.2 |
180.8 |
+12.9% |
+7.9% |
International |
334.8 |
254.9 |
+31.3% |
+20.3% |
Total |
539.0 |
435.7 |
+23.7% |
+15.1% |
* see appendix
A GOOD START FOR 2022 WITH DYNAMIC GROWTH IN THE FIRST QUARTER
ID Logistics has made a good start to 2022 with sustained growth in its sales in the first quarter to reach € 539.0 million, up 23.7% and 15.1% on a like-for-like basis.
- In France, ID Logistics recorded a 12.9% increase in revenues to €204.2 million during the past quarter. This result includes the consolidation of Colisweb. Adjusted for this effect, the growth is +7.9% during the first quarter of 2022. ID Logistics is benefiting equally from the effect of projects started since 2021 and from a positive price and volume effect on historical projects.
- Outside France, the strong growth in revenues continued in Q1 2022 to reach €334.8 million, an increase of +31.3%. This includes GVT sales, a company acquired at the end of 2021 in the Benelux, and a favorable currency effect, notably on the US dollar and the Brazilian real. Adjusted for these amounts, growth remains sustained at +20.3% on a like-for-like basis, of which approximately two thirds is due to the full-year effect of the projects started in 2021 and one third to a positive price and volume effect.
ID Logistics started up four new sites in the first quarter of 2022. The Group recalls that it does not operate in Ukraine and that its revenues in Russia are less than 1% of total revenues. New investments in this country have been suspended.
NEW CONTRACTS
The number of tenders to which ID Logistics is invited remains strong in the first quarter of 2022. For example, the Group won or started the following new contracts during the first quarter of 2022:
- In France, ID Logistics is once again part of the Adeo Group's optimization plan with the opening of a new 48,000 sq.m. site in Loudéac, Brittany, shared by Leroy Merlin and Weldom. This project will support the growth of Weldom and Leroy Merlin while promoting synergies between the two brands.
- In the Netherlands, ID Logistics will start a first activity with the Electronic Components division of the Japanese group Omron. The 13,000 sq. m. site, located in the south of the country, will manage 45,000 references and will be equipped with a mechanized solution such as AutoStore Goods to Person, in partnership with Swisslog.
- In Spain, ID Logistics will start its first contract with a global leader in fashion, on a 15,000 sq. m. site in Barcelona.
OUTLOOK
In the very short term, ID Logistics' priority is to finalize the integration of the GVT acquisition in the Benelux and Colisweb in France, both acquired at the end of 2021. In the United States, the integration of Kane Logistics, whose acquisition was finalized at the end of March 2022, will be completed before the summer of 2022.
At the same time, ID Logistics intends to maintain its good commercial development and remains focused on increasing the productivity of recent projects and managing the start-ups of 2022.
NEXT REPORT
Release of 2022 second quarter revenues on July, 21st 2022 after market close.
ABOUT ID LOGISTICS
ID Logistics managed by Eric Hémar is an international contract logistics group, with revenue of €1,911 million ($2,179 million) in 2021. ID Logistics manages 360 sites across 17 countries, representing nearly 8.0 million square meters of warehousing facilities in Europe, America, Asia and Africa, with 28,000 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 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
In €m |
2021 |
Scope effects |
Effects of
|
Effects of
|
% like-for-like
|
2022 |
1er quarter |
435.7 |
+7.7% |
+0.8% |
+0.1% |
+15.1% |
539.0 |
* Accounting treatment for hyperinflationary in Argentina
