CAVAILLON, France--(BUSINESS WIRE)--Regulatory News:
ID Logistics, (ISIN: FR0010929125, Ticker: IDL) (Paris:IDL) one of the French leaders in contract logistics, has reported Q3 2017 revenues of €328.6 million, up +20.2% and up +7.5% on a like-for-like basis (at comparable scope and exchange rates). Over the first nine months of 2017, the Group’s revenues came to €986.9 million, up +34.4% and up +10.8% on a like-for-like basis.
Eric Hémar, Chairman and CEO of ID Logistics, commented: “In the third quarter, ID Logistics continued to benefit from the revenues of our new sites started up over the past year and from the firmer economic conditions in France and international markets. In addition, we also won new business, especially in e-commerce. This growth momentum allows us to be more selective and demanding regarding our portfolio of contracts to back our earnings improvement.”
| Revenues (€ million) | 2017 | 2016 | % change |
Like-for-like |
||||
| Third quarter | ||||||||
| France | 161.9 | 148.0 | 9.4% | 9.4% | ||||
| International | 166.7 | 125.3 | 33.0% | 5.2% | ||||
| Total | 328.6 | 273.3 | 20.2% | 7.5% | ||||
| Nine-month total | ||||||||
| France | 471.5 | 425.6 | 10.8% | 10.8% | ||||
| International | 515.4 | 308.6 | 67.0% | 10.7% | ||||
| Total | 986.9 | 734.2 | 34.4% | 10.8% |
*on a like-for-like basis
FURTHER HEALTHY TOP-LINE GROWTH
Over the first nine months of 2017, Group’s revenues came to €986.9 million, up +34.4% and up +10.8% on a like-for-like basis. In Q3 2017, ID Logistics’ revenues recorded strong growth to reach €328.6 million, up +20.2% and up +7.5% on a like-for-like basis (comparable scope and exchange rates):
- in France, growth held up at a high level of +9.4% and +10.8% over the first nine months, despite a demanding base of comparison;
- in international markets, revenue growth remained brisk at +33% in Q3 and +67% over the first nine months (+5.2% in Q3 and +10.7% over the first nine months on a like-for-like basis). This growth was impacted by the shutdown of four loss-making sites in Spain in early July as part of the portfolio review linked to the acquisition of Logiters.
Beyond the growth generated by new sites opening, ID Logistics benefited from mildly positive price/volume effect and currencies, although slightly negative in Q3, remains broadly positive in the first nine months of the year. Lastly, the perimeter impact is attributable to the Logiters integration, in Spain and Portugal, from September 1st, 2016.
NEW BUSINESS
ID Logistics continues to tender for and to win or start up new contracts. For example:
- In Poland, ID Logistics is continuing its rapid development and is set to start early November a new platform handling snacks and beverages for Pepsico.
- In Spain, two platforms handling store and e-commerce flows for Kiabi are currently being set up. The first is due to start up in late 2017, the second a year later. The sites will initially serve Spain and Portugal, then Italy, the South of France, Algeria, Morocco and Malta.
- In Germany, ID Logistics clinched an agreement with an e-commerce leader for its fragrances and cosmetics businesses.
- In addition, ID Logistics established a presence in Romania in October alongside Carrefour, its longstanding customer, and its footprint now extends to 17 countries. From its Chiajna platform (10 km from Bucharest), the Group handles the logistics for dry (beverages, groceries, HPC, fragrances) and non-food (textiles, household appliances) goods. The 60,000m2 site employs 400 people.
OUTLOOK
The completion of Logiters’ integration, productivity improvements at recently opened sites and the ongoing contract portfolio review should allow the Group’s profitability to improve in the second half of 2017.
ID Logistics continues to grow at a faster pace than its market and strengthen its leadership to become Europe’s leading logistics specialist, particularly in e-commerce.
NEXT REPORT
Publication of 2017 full-year revenues on 30 January 2018 after the market close.
ABOUT ID LOGISTICS
ID Logistics is an international contract logistics group, with revenue of €1,070 million in 2016. ID Logistics has more than 275 sites across 17 countries, representing close to 5.5 million square meters of warehousing facilities in Europe, Latin America, Asia and Africa, and 19,000 employees. With a client portfolio balanced between retail, industry, detail picking and e-commerce sectors, ID Logistics delivers high-tech solutions and is firmly committed to sustainable development. ID Logistics is listed on Compartment B of NYSE Euronext's regulated market in Paris (ISIN Code: FR0010929125). The Group is managed by Eric Hémar.
