ID Logistics: 18.3% growth in the first quarter of 2023

• Sales in the first quarter of 2023: € 630.4 million, up 18.3% (up 5.4% on a comparable basis)
  • International (68% of sales): Continued strong momentum with € 430.4 million, up 30.9% (up 10.1% on a comparable basis)
  • France (32% of sales): Slight decline in sales of 2.1% to 200.0 million euros
• Finalisation of the acquisition of Spedimex (Poland)

ID Logistics (ISIN: FR0010929125, ticker: IDL), one of the leading contract logistics companies in Europe, today published its sales figures for the first quarter of 2023.

Eric Hémar, Chairman and CEO of ID Logistics, comments: "The first quarter of 2023 confirms the Group's continued growth momentum, with a strong increase in international sales. This development goes hand in hand with the expansion of our activities in Poland and the 100% acquisition of Spedimex. Spedimex is one of the most important Polish contract logistics companies and specialises in fashion and e-commerce. The acquisition is expected to be completed by summer 2023."

Turnover (in € million) Euros)    2023    2022    Change    Change on a
                                                 comparative basis
First quarter                
International                 430.4    328.8   +30,9 %       +10.1 %
France                 200.0    204.2      -2.1 %        -2.1 %
Total                     630.4    533.0   +18.3 %       +5.4 %
* see definition in appendices

Good growth of 18.3 % in the first quarter (+5.4 % on a comparable basis with strong base effect)

ID Logistics achieved good growth in sales to EUR 630.4 million in the first quarter of 2023. This corresponds to an increase of 18.3% or 5.4% compared to the same quarter of the previous year, in which strong growth of 15.1% was already recorded on a comparable basis.

• The strong sales growth on the international markets continued in the first quarter of 2023: Sales increased by 30.9% to €430.4 million. This increase includes the sales of Kane Logistics, which was acquired in the USA and consolidated as of 1 April 2022. Adjusted for this consolidation effect and the generally unfavourable exchange rate conditions in the previous quarter, growth was 10.1% compared to the same quarter of the previous year, in which a significant increase of 20.3% had already been achieved.

• In France, sales fell by 2.1% to 200.0 million. This is due to the high level in the same quarter of the previous year (+7.9%) and the social situation in connection with the pension reform.

The Group started five new business activities in the first quarter of 2023.

New contracts

ID Logistics also participated in numerous tenders in the first quarter of 2023, as existing and potential customers have now integrated the effects of the new economic environment into their realistic forecasts. The Group won or began implementing the following new contracts in this quarter:

• In Romania, ID Logistics signed a contract with new customer Selgros Cash & Carry Romania, a subsidiary of Transgourmet Holding AG. The portfolio on offer includes warehousing services in a distribution centre with temperature control (area: 8,500 square metres) and transport to the customer's shops.

• In Germany, ID Logistics set up operations for its new customer Enpal in a record time of just eight weeks. Enpal is a fast-growing player in the solar energy sector based in Berlin. The new site in Philippsburg in southern Germany has a total warehouse area of 35,000 square metres and employs 70 people.

• In the USA, ID Logistics is expanding its geographical presence to the state of Wisconsin. The group is building a 28,000 square metre site in the Kenosha area, strategically located 100 kilometres from Chicago. This location will manage the logistics operations of a leading tableware supplier for the entire USA.

• In France, ID Logistics is starting a new business activity for KSGB, a leading footwear company with the well-known brands Palladium and K-Swiss in its portfolio. This activity will focus on B2B, e-commerce and returns management for all European distribution channels.

Takeover of Spedimex in Poland

On 22 March 2023, ID Logistics announced the signing of a contract for the 100% takeover of the Spedimex Group. Spedimex is a major player in the Polish logistics market, specialising in fashion and e-commerce (major international and Polish brands) as well as cosmetics.

In addition to contract logistics, Spedimex offers a strong distribution and transport network, value-added logistics services and preparation for retail. Spedimex has developed an asset-light approach and operates in 15 locations across the country with a total of 230,000 square metres of warehouse space. The company has implemented world-class mechanisation and technology solutions and is therefore able to handle large and complex logistical challenges, such as shop returns and e-commerce transactions from over 15 European countries.

The transaction is still subject to the approval of the relevant Polish antitrust authorities. The turnover of Spedimex (EUR 109 million in 2022) has not yet been included in the scope of consolidation of ID Logistics' business 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 - particularly based on its growth drivers in Europe (especially Poland and Italy) and the USA. However, the Group remains vigilant with regard to macroeconomic developments and responds swiftly to the needs of its customers.

Next publication

Sales in the second quarter of 2023: 24. July 2023 after close of trading.

About ID Logistics:

ID Logistics Group, led by Eric Hémar, is an international contract logistics service provider with global sales of EUR 2.5 billion in the 2022 financial year. ID Logistics operates 365 locations with over eight million square metres of warehouse space in 17 countries in Europe, North and South America, Asia and Africa and employs around 30,000 people.

Customers from the retail, e-commerce and consumer goods sectors rely on ID Logistics' technology-supported solutions. Since its foundation in 2001, the Group has developed a social and environmental approach through a series of pioneering projects and is firmly committed to an ambitious CSR policy. ID Logistics is listed on the regulated market of Euronext Paris (Compartment A) (ISIN code: FR0010929125, ticker: IDL).