ID Logistics: a Dynamic 1st Quarter 2021

Revenues up 15.0% to €435.7 million

• Q1 2021 revenues: €435.7 million, up 11.0% (up 15.0% like-for-like)
  • Good activity in France: €180.8 million, +4.2%
  • Continued strong growth outside France: €254.9 million, up 16.4% (up 24.0% like-for-like)

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

ID Logistics (Paris:IDL) (ISIN: FR0010929125, Ticker: IDL) one of the European leaders in contract logistics, is today reporting its revenues for the first quarter of 2021.

Eric Hémar, Chairman and CEO of ID Logistics, commented: « The sales momentum continues in line with the end of the previous year and once again illustrates the relevance of ID Logistics' positioning in fast-growing market segments (e-commerce, food, consumer goods). However, we remain alert to the evolution of the health crisis in order to anticipate and respond to the needs of our customers ».

Revenues (€ million)	2021	2020	Change	Like-for-like % change*
1^st 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%

* Group exchange rate effect -3.6% and Group scope effect -0.4% (see definitions in appendix)

GOOD START FOR THE YEAR 2021 WITH DYNAMIC GROWTH IN THE FIRST QUARTER

Following on from the end of 2020, ID Logistics has made a good start to the year 2021 with sustained growth in its revenues in the first quarter to reach €435.7 million, up by +11.0% and +15.0% on a like-for-like basis.

• In France, ID Logistics recorded a +4.2% increase in revenues during the past quarter to €180.8 million. It is to be pointed out that the first quarter of 2020 was only slightly impacted by the lockdown measures implemented in mid-March 2020.
• Outside France, revenues for the first quarter of 2021 showed strong growth of +16.4% to €254.9 million. Adjusted mainly for a very unfavorable currency effect, particularly in South America, growth was 24.0% like-for-like. All regions reported growth, with a sustained performance in Germany and Poland, which benefited in the first quarter from the full-year effect of projects started in 2020. 

During this first quarter, ID Logistics started up 4 new warehouses, in line with the 2021 roadmap.

NEW CONTRACTS

The number of tenders to which ID Logistics is invited remains strong in the first quarter of 2021. For example, the Group won or started the following new contracts during the first quarter of 2021:

• In France, ID Logistics and Boulanger are extending their partnership with the opening of a new 43,000 sq.m. warehouse near Lyon. The association between the two groups started in 2009 with the management of logistics in the South of France. This new facility will allow ID Logistics to support Boulanger in its growth in a new region and in the e-commerce.
• ID Logistics Group extends its partnership with Nestle globally with a new operation in the Benelux for Nespresso & Dolce Gusto. This confirms the leading market position of ID Logistics in e-commerce and consumer goods. This operation will be the 9^th site for ID Logistics Benelux. The site will be in total 15,000 sq.m. and will employ some 80 people.
• ID Logistics Chile is reinforcing its partnership with P&G at Macul DC in Santiago. After implementing copacking operation in March 2020 they now awarded ID Logistics with a new in house operation. The scope of business considers warehousing services including receiving, storage, orders preparation and dispatching.

OUTLOOK

Thanks to the good start of 2021 and taking advantage of its positioning in e-commerce, ID Logistics intends to continue its profitable development, while remaining cautious about 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

Publication of second-quarter 2021 revenues on July, 22^nd 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
1^st quarter	392.5	-0.4%	-3.6%	-0.0%	+15.0%	435.7

* 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)