Economic Sales grew by 6.5% to €545.2m
LOGISTA RAISED ITS OPERATING PROFIT BY 25.2% TO
€87m DURING THE FIRST HALF
The Net Profit in the second quarter grew by 12.5% when compared with the second quarter of the previous fiscal year
It is its best historic record of Economic Sales, Margin and EBIT in a first half
Logista raised its Operating Profit (EBIT) by 25.2% to €87m during the first half of its fiscal year, between October 2017 and March of 2018.
Economic Sales rose by 6.5% when comparing with the first half of the previous fiscal year to €545.2m, despite Revenues declined by 1.3%. There was growth in all business lines in Iberia and Italy, particularly in convenience products in Spain and Italy, the Transport area, Logista Pharma and Tobacco in Portugal.
The activity kept growing and improved its margins. The Adjusted Operating Profit (Adjusted EBIT) grew by 14.1% to €114.1m, the Operating Profit (EBIT) rose by 25.2% to €87m and the margin on Economic Sales increased to 20.9% when compared with the 19.5% in the first half of the previous fiscal year.
These are the best Economic Sales, Margin and EBIT obtained between October and March in Logista's history.
Logista sold the previous fiscal year an affiliated company in Italy and, as a consequence, the comparison with the first half of the current fiscal year has been affected and the Net Profit declined by 7.1% to €71.1m. In fact, the Net Profit in the second quarter grew by 12.5% when compared with the second quarter of the previous fiscal year.
Iberia | France | Italy | Corp. And Others | TOTAL | Δ18/17 | |
Revenues | 1,315.9 | 1,938.0 | 1,236.9 | -24.3 | 4,466.5 | -1.3% |
Economic Sales | 276.8 | 125.6 | 142.1 | 0.8 | 545.2 | +6.5% |
(% of total) | 50.8% | 23.0% | 26.1% | 0.1% | ||
Adjusted EBIT | 56.5 | 26.0 | 37.8 | -6.2 | 114.1 | +14.1% |
Figures rounded to millions of Euros, except percentages
Iberia (Spain and Portugal)
The total volume of cigarettes distributed in both countries fell by 1.6% during the first half of the fiscal year.
Economic Sales in Iberia rose by 5.7% during the first half of the fiscal year, with growth in all three of its business lines.
Economic Sales of Tobacco and Related Products grew due to the good performance of the activity in Portugal, of added value services and the ongoing growth in convenience products.
The Transport area, consisting of the parcel and express courier Nacex network, Integra2 in controlled temperature capillary transport and Logesta, the subsidiary for long distance and full load transport management, raised its Economic Sales by 5.6%. All three activities grew due to its quality and differentiation strategy, the improvement of consumption and the growth in urgent deliveries deriving from on-line sales.
Economic Sales of Other Businesses grew by 17.2%, with a new increase in Logista Pharma's services to laboratories and pharmacies.
Logista Pharma kept growing, with the addition of new clients, the launch of new added value services and the incorporation of most of Sanofi's activity.
Logista Pharma signed an agreement with Sanofi to take responsibility for distributing its products in Spain to Hospitals, Pharmacies, Health Centres and Wholesalers, among others, adding to the already in place in Canary Islands. Logista Pharma added most of Sanofi's activity last October, in January of the current year added the distribution to Hospitals and will fully manage this distribution from January 2019.
Tobacco and Related Products | Transport | Other Businesses | Intra-segments sales | TOTAL | Δ18/17 | |
Revenues | 1,108.5 | 184.6 | 71.1 | -48.3 | 1,315.9 | +4.1% |
Economic Sales | 131.8 | 126.2 | 41.4 | -22.6 | 276.8 | +5.7% |
(% of total in Iberia) | 47.6% | 45.6% | 15.0% | -8.2% |
Figures rounded to millions of Euros, except percentages
France
Economic Sales fell by 7.6% to €125.6m, with a 5.2% decline in cigarettes distributed and a drop in electronic transactions.
During this half, the prices increases by manufacturers were similar to those of tobacco tax increases but, overall, they didn't pass-through the rise in the tobacconists' commission.
Wholesale distribution of convenience products to other points of sale, such as petrol stations, stores and vending machines' operators, slowed down its decline to 2%, thanks to higher margins within a context of strong price competition.
Tobacco and Related Products | Other Businesses | Intra-segment Sales | TOTAL | Δ18/17 | |
Revenues | 1,853.6 | 88.0 | -3.6 | 1,938.0 | -5.0% |
Economic Sales | 105.0 | 23.5 | -2.9 | 125.6 | -7.6% |
(% of total in France) | 83.6% | 18.7% | -2.3% |
Figures rounded to millions of Euros, except percentages
Italy
Economic Sales rose by 26.4% to €142.1m, keeping the strong growth in the distribution of convenience products and the increase in the provision of other added value services to manufacturers.
Cigarettes distributed declined by 1%, with some prices increases.
Logista Italia renewed for 3 years its distribution contract with British American Tobacco, proving the manufacturers' continuous confidence in the efficiency of the Group's cutting-edge services and contributing to keep providing visibility to this business.
About Logista
Logista, the leading distributor of products and services to proximity retailers in Southern Europe, serves some 300,000 points of sale in Spain, France, Italy and Portugal, and facilitates the best and fastest market access to tobacco and convenience products, electronic top-ups, pharmaceuticals, books, publications and lotteries, among others.
Madrid, 9 May 2018
Attachments
- Original document
- Permalink
Disclaimer
Compañía de Distribución Integral Logista Holdings SA published this content on 09 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 May 2018 07:45:01 UTC