ID Logistics: +18.3% Growth in Q1 2023

Q1 2023 revenues: €630.4 million, up 18.3% (up 5.4% like-for-like)
- International (68% of revenues): Continued good momentum at €430.4m, up 30.9% (up 10.1% like-for-like)
- France (32% of revenues): Sales down slightly by 2.1% to €200.0 million
Acquisition of Spedimex (Poland) being finalized

Regulatory News:

ID Logistics (ISIN: FR0010929125, Mnemo: IDL) (Paris:IDL), a European leader in contract logistics, today announced its revenues for the first quarter of 2023.

Eric Hémar, Chairman and CEO of ID Logistics, comments: "The first quarter of 2023 was marked by the continuation of our growth dynamic with the Group recording a strong increase in its international revenues. This development is combined with the strengthening of our activities in Poland with the acquisition of 100% of Spedimex, a major player in contract logistics and specialist in the fashion and e-commerce sectors. The closing of the deal is expected by the end of the first half of 2023.”

Revenues, in €m

2023

2022

Change

Change on a like-for-like basis

1st quarter

International

430.4

328.8

+30.9%

+10.1%

France

200.0

204.2

-2.1%

Total

630.4

533.0

+18.3%

+5.4%

*see definition in appendices

GOOD GROWTH IN 1ST QUARTER 2023: +18.3% (+5.4% ON A LIKE FOR LIKE BASIS WITH A HIGH BASE EFFECT)

ID Logistics recorded a good level of revenue growth in the 1st quarter of 2023, reaching €630.4 million, up 18.3% and 5.4% on a like-for-like basis compared to the 1st quarter of 2022, which already showed strong growth of 15.1% on a like-for-like basis.

In international markets, the good growth in revenues continued during the 1st quarter of 2023, reaching €430.4 million, or +30.9%. This increase includes the revenues of Kane Logistics, a company acquired in the United States and consolidated from 1st April 2022. Adjusted for this perimeter effect and a generally unfavorable exchange rate effect during the past quarter, growth was +10.1% compared with the 1st quarter of 2022, which had already recorded a significant increase of +20.3%.
In France, revenues fell by 2.1% to €200.0 million, due to the high level of the first quarter of 2022 (+7.9%) and the social context linked to the retirement reform.

During this 1st quarter of 2023, the group has started 5 new operations.

NEW CONTRACTS

ID Logistics continued to respond to a sustained number of tenders during the 1st quarter of 2023, as clients and prospects have now integrated the impacts of the new economic environment into their forecasts.

For example, the Group won or started the following new contracts during this quarter:

In Romania, ID Logistics has signed a contract with a new customer, Selgros Cash & Carry Romania, a subsidiary of Transgourmet Holding AG. The logistics services provided include storage operations in a temperature-controlled warehouse of 8,500 sqm and transport to their stores.
In Germany, ID Logistics started up an operation for its new customer Enpal, a fast-growing player in the field of solar energy with headquarters in Berlin, in a record time of 8 weeks. The new site located in Philippsburg, in the south of Germany, has 35,000 sqm of warehouses and employs 70 people.
In the United States, ID Logistics adds Wisconsin to its geographical coverage. The Group is starting up a 28,000 sq. m. site in the Kenosha area, strategically located 100 km from Chicago. This site manages the logistics operations of a leading tableware company for the entire US territory.
In France, ID Logistics is starting a new activity for KSGB, a leader in footwear with the Palladium and K-Swiss brands in particular. The operations will cover both the BtoB activity, e-commerce and the management of returns for all distribution channels at the European level.

ACQUISITION OF SPEDIMEX IN POLAND

ID Logistics announced on March 22, 2023 the signing of an agreement to acquire 100% of the Spedimex group, a major player in contract logistics in Poland and a specialist in the fashion and e-commerce sectors, for major international and Polish brands, as well as in cosmetics.

In addition to contract logistics, Spedimex offers a strong distribution and transport network, value-added logistics services or retail preparation. Spedimex has developed an asset-light model and operates 15 sites across the country representing 230,000 sqm of warehouse surface. The Company has implemented state-of-the-art mechanization and technology solutions capable of handling large and complex flows such as e-commerce and store returns from more than 15 European countries.

The transaction remains subject to the approval of the relevant Polish antitrust authorities. Spedimex's sales (EUR 109 million in 2022) are not yet consolidated in ID Logistics' activities. The acquisition is expected to be completed by June 2023.

OUTLOOK

After the first quarter of 2023, ID Logistics is well positioned to continue its profitable development, relying in particular on its growth drivers in Europe (especially in Poland and Italy) and the United States. The Group remains vigilant with regard to the evolution of the macro-economic situation and attentive to the support needs of its customers.

NEXT PUBLICATION

Sales for the 2nd quarter of 2023: July 24, 2023, after market close.

ABOUT ID LOGISTICS:

ID Logistics, managed by Eric Hémar, is an international contract logistics group with revenue of €2.5 billion in 2022. ID Logistics manages 365 sites across 17 countries representing more than 8 million square meters of warehousing facilities in Europe, America, Asia and Africa, with 30,000 employees.

With a client portfolio balanced between retail, e-commerce and consumer goods, 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 shares are listed on the regulated market of Euronext Paris, compartment A (ISIN code: FR0010929125, Ticker: IDL).

APPENDIX

CHANGE ON A COMPARABLE BASIS

The like-for-like changes in revenues reflect the organic performance of the ID Logistics Group, excluding the impact of:

- changes in the scope of consolidation: the contribution to revenues of companies acquired during the period is excluded from this period, and the contribution to revenues of companies disposed of during the previous period is excluded from this period; - changes in the applicable accounting principles; - changes in exchange rates by calculating revenues for the various periods on the basis of identical exchange rates: thus, published data for the previous period are converted using the exchange rate for the current period.

Reconciliation of reported revenues to revenues on a like-for-like basis

in €M

2022

Scope effects

Effect of exchange rate fluctuations

Effect of adoption of IAS 29*

% Like-for-like change

2023

1st quarter

533.0

+13.6%

-0.8%