Logista closes fiscal year 2024 with a 13% increase in net profit
06 novembro, 2024
- Economic sales rose to €1,757 million, representing 4% growth compared to the previous year.
- The Board of Directors has proposed a total dividend of 2.09€/share, or a 13% increase versus 2023.
Logista, a leading logistics operator in Europe, has announced its annual results
In terms of economic sales, the company earned €1,757 million, a 4% year-on-year increase, while revenues grew by 4% compared to the same period in 2023, up to €12,986 million.
In this period, it is worth mentioning the relevance of the profit on inventory, which reached €35 million, compared to the €30 million of the previous year, as well as the net financial result of €93 million, versus the €76 million recorded in 2023. |  |
for fiscal year 2024, which ended on 30 September, in which the company registered net profit of €308 million, a 13% increase compared to the previous period. Adjusted EBIT also increased, by 5%, up to €385 million.
The Board of Directors has proposed a total dividend of €277 million (2.09 euros per share) for tax year 2024, or a 13% increase compared to the previous year. This includes an interim dividend of 0.56 euros per share distributed in August 2024, as well as a complementary dividend of 1.53 euros per share to be distributed in February 2025, subject to approval at the Annual General Meeting.
Results by region
Iberia
Economic sales in Iberia reached €1,144 million, which represents a 5% increase compared to 2023, mainly thanks to notable growth in the transport and pharmaceutical distribution segments. Regarding revenues, the company reached €4,843 million, or an 8% growth in the region.
Italy
In Italy, economic sales amounted to €402 million, thus registering a 9% increase year-on-year, driven by higher volumes and rate variation. In addition, the company increased its revenues by 4%, reaching €4,436 million.
France
Lastly, economic sales in France reached €216 million, a 4% decrease compared to 2023, due to a reduction in distributed volumes, which was partially compensated by rate variation and the positive impact of stock values. In terms of revenues, Logista earned €3,764 million, which represents a 0.2% increase YoY.
Iñigo Meirás, CEO of Logista, pointed out that “the company’s results for 2024 consolidate the progressive growth that Logista has registered in recent years, producing the best results we have seen since our stock market debut in 2014. Once again, this underscores the company’s strength and resilience.”
Acquisitions throughout 2024
In 2024, Logista formalized the acquisitions of SGEL Libros by Logista Libros and also Belgium Parcels Service (BPS), a business specialising in urgent distribution of pharmaceutical products in Belgium and Luxembourg.
In addition, fulfilling prior agreements, the company also completed the acquisition of minority interests in Speedlink and Transportes El Mosca, thus reaching a 100% share in both businesses.
In line with its strategic plan, Logista will continue studying opportunities to acquire complementary and synergistic companies that could favour its geographical and business diversification.
Stock market evolution and outlook for 2025
Logista has experienced a positive evolution in the stock market throughout 2024, with its shares growing by 12% having reached a new record high of 28.00 euros per share on September 12th.
Logista will maintain a sustained growth in 2025, with estimates of a mid-single digit increase in adjusted EBIT compared to 2024, without taking into account variations in stock value during both periods and any new acquisitions that may take place.
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 more than 7,600 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.