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    XPO   FR0000052870

XPO LOGISTICS EUROPE SA

(XPO)
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XPO Logistics Europe : selected by Electrolux

06/22/2021 | 07:07am EDT

XPO Logistics, a leading global provider of transportation and logistics solutions, has been awarded a multiyear contract by Electrolux Logistics SAS to manage its logistics operations in France. The agreement marks the start of Electrolux's outsourcing strategy for distribution to its trade customers in France, after previously managing these channels in-house from its distribution center in Marly-la-Ville (Val-d'Oise).
XPO is managing the logistics activities at the site using technology-enabled solutions integrated on its proprietary warehouse management platform. Approximately 90% of the inventory is comprised of refrigerators, washing machines and other large products, with the remainder being smaller appliances and parts. All logistics processes - receipt of goods, storage, tracking and order preparation - have been customized by XPO to deliver greater efficiencies for Electrolux.
The two companies will also partner on Electrolux's upcoming launch of its direct-to-consumer e-commerce site this year. XPO will provide this additional fulfilment from the same 58,000-square-meter distribution center in Marly-la-Ville, which is staffed in part by 46 colleagues who transferred from Electrolux Logistics SAS.
Pierre Perron, president and chief executive officer of Electrolux France, said, 'We're confident that XPO has the expertise, scale and technology to support our growth ambitions and make our logistics a strength for our customers and our e-commerce channel. This new collaboration is at the heart of our strategy.'
Malcolm Wilson, chief executive officer of XPO Logistics Europe, said, 'We're proud that Electrolux, one of the world's largest appliance manufacturers, has entrusted its outsourced logistics in France to XPO. Our team worked with our new colleagues at the distribution center in Marly-la-Ville to manage a seamless transition.'
XPO's leading capabilities in e-commerce and omnichannel logistics, including the largest outsourced e-commerce fulfilment platform in Europe, are expected to begin operating as GXO when XPO's plan to spin off its global logistics segment in the third quarter is complete. Completion of the spin-off is subject to various conditions, and there can be no assurance that the transaction will occur or, if it does occur, of its terms or timing.

Forward-looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including the statements above regarding plans, benefits and timing of the contemplated spin-off transaction. These forward-looking statements are qualified by cautionary statements regarding unknown risks, uncertainties and assumptions as can be found in the company's filings with the U.S. Securities and Exchange Commission and accessed through the company's website www.xpo.com.

Disclaimer

Xpo Logistics Europe SA published this content on 22 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2021 11:06:03 UTC.


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Financials
Sales 2020 6 072 M 7 187 M 7 187 M
Net income 2020 46,1 M 54,6 M 54,6 M
Net Debt 2020 1 567 M 1 855 M 1 855 M
P/E ratio 2020 59,7x
Yield 2020 -
Capitalization 3 084 M 3 753 M 3 651 M
EV / Sales 2019 0,69x
EV / Sales 2020 0,71x
Nbr of Employees 58 186
Free-Float 0,78%
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Managers and Directors
Malcolm Wilson Chairman-Management Board
Matthieu Renollaud Chief Financial Officer
Bradley S. Jacobs Chairman-Supervisory Board
Henri Lachmann Member-Supervisory Board
Franšois-Marie Valentin Member-Supervisory Board
Sector and Competitors