Logista closes the third quarter with a 22% increase in net profit

 

Logista, one of the leading logistics operators in Europe, has recently announced its results for the first nine months of fiscal year 2024, in which it obtained a net profit of €237 million, or a 22% growth compared to the previous year. The adjusted EBIT grew by 6%, reaching €290 million.

 

In terms of economic sales, the company registered €1,318 million, a 5% year-on-year increase, while revenues grew by 4% compared to the same period of 2023, reaching €9,480 million.

 

On the 24th of July, the Board of Directors has approved an interim dividend for FY2024 of 0.56 euros per share, a 14% increase compared to last year, totalling €74 million. Dividend will be paid out on August 29th.

 

 

Results by region

 

Iberia

Economic sales in Iberia reached €862 million, which translates into a 5% increase compared to the same period of 2023, mainly due to an improvement in economic sales in the transport segment. Regarding adjusted EBIT, the company earned €157 million, or a 2% increase YoY.

 

Italy

Italy recorded economic sales worth €298 million, thus registering a 10% increase YoY, thanks to the positive impact of stock revaluation, as well as an improvement in new generation product volumes. In addition, the company increased its adjusted EBIT by 14%, to reach €88 million.

 

France

Lastly, sales in France totalled €163 million, or 3% less than in the same period of the previous year, due to a reduction in tobacco volumes distributed, which was partially compensated by increased fees and a positive impact on stock revaluation. Adjusted EBIT reached €45 million or a 5% increase YoY.

 

New acquisitions and forecast

Throughout this period, the company formalized the acquisitions of SGEL Libros by Logista Libros and also Belgium Parcels Service (BPS), a business specializing in urgent distribution of pharmaceutical products in Belgium and Luxembourg.

 

In addition, on the 23rd of July 2024, Logista completed the acquisition of the remaining 26.67% of Transportes El Mosca, according to the existing agreement. Following this successful operation, Logista now holds 100% of Transportes El Mosca.

 

Iñigo Meirás, CEO of Logista, commented “we continue to progress in our strategy of providing additional growth and diversification to the current business base, while consolidating the acquisitions made to date.”

 

Logista will continue to register sustained growth throughout 2024, estimating a med-single-digit increase of adjusted EBIT compared to 2023, without taking into account the variation in stock value registered in both years nor any new acquisitions which may take place through this year.

 

 

About Logista  - www.logista.com

Logista is one of the top logistics operators in Europe, specialising in proximity distribution channels. The company regularly serves nearly 200,000 sales points throughout Spain, France, Italy, Portugal, the Netherlands, Belgium and Poland, and facilitates the best and fastest market access for a broad range of retail products, pharmaceuticals, electronic recharges, books and other publications, tobacco and lottery products, among others. In addition, Logista operates the largest transportation network in Spain, which is also certified for food safety.    

 

Logista maintains a team of highly qualified professionals, comprised by close to 7,450 direct employees, and has a large number of indirect collaborators who work in our different activities and countries such as Nacex franchisees, Logista Parcel delegates, drivers, etc. promoting local employment. All employees and collaborators are focused on providing service to customers and adapting to their needs in the most efficient manner.     

 

 

Committed to Sustainability

For eight consecutive years, Logista has kept its leadership position in CDP, which recognises the leading global companies in the fight against climate change. Logista is the only European distributor to be included in this list for such period.

 

In addition, Logista's firm commitment to sustainability was recognised in May 2024 by Sustainalytics, one of the leaders in the assessment of Corporate Social Responsibility and Corporate Governance worldwide. After evaluating the Company's ESG criteria, it has awarded it an ESG risk rating of 16.5 points, which considers it to be at Low Risk of experiencing material financial impacts due to ESG factors and grants it accreditation as Industry TOP RATED 2024 – which assesses high performance in its sector outside of Sustainalytics' comprehensive coverage universe, achieving one of the top 50 ratings in the Transportation industry.

 

Also, as a result of its firm commitment to Corporate Social Responsibility, Logista has once again managed to position itself among the leaders in the sector by being recognised in 2024 with an MSCI rating of A, whose scale is AAA-CCC. 

 

We have also participated in the Corporate Sustainability Assessment (CSA), S&P's corporate sustainability assessment. In February 2024, Logista was once again recognised by the Financial Times as a "leader in diversity" and in April 2024, Ecovadis awarded the bronze medal to Logista for Logista's performance in terms of sustainability.

 

Logista is also part of the FTSE4Good IBEX index, made up of companies that demonstrate solid environmental, social and corporate governance practices, and the Ibex Gender Equality. Logista was also included in the Ibex 35 in 2022.

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