Economic sales reached €426 million, representing a 7% increase compared to the previous year

The Board of Directors approved a total dividend of €1.85 per share, a Y-o-Y growth of 34% 

Madrid, 5 February 2024

Logista, one of the top logistics operators in Europe, has announced its financial results for the first three months of fiscal year 2024, in which it obtained a net profit of €73 million, representing a 22% growth year-on-year. The adjusted EBIT also grew, by 6%, reaching €89 million.

Regarding economic sales, the company obtained €426 million, or a 7% year-on-year increase, while revenues rose by 6% compared to the same period of 2023, up to €3,166 million.

The General Shareholder Meeting held last Friday February 2nd, approved the distribution of a complementary dividend for 2023 of 1.36 euros per share. This dividend will be in addition to that distributed last 28 August 2023, of 0.49 euros per share. Thus, the total dividend for 2023 will reach 1.85 euros per share, which represents a 34% increase compared to last year and accounts for a 90% pay-out of the fiscal year’s net profit.

Results by region

Iberia (Spain, Portugal, Poland and Netherlands)

In the Iberia region, economic sales reached €277 million, which represents a 5% increase compared to the same period of 2023. With regards to adjusted EBIT, the company registered €48 million, or 11% year-on-year decrease due to stock appreciation in 2023. Excluding the effect of the stock appreciation, adjusted EBIT increased by 14% year-on-year.

Italy

In Italy, economic sales amounted to €96 million, or a 22% growth compared to the same period of 2023. At the same time, Logista increased its adjusted operating profit by 73%, up to €28 million. Eliminating the impact of stock revaluation, the adjusted EBIT recorded a 7% increase compared to the previous year.

France

Lastly, economic sales in France reached €54 million, 4% less than in the same period of the previous year, as a result of the decrease in tobacco volumes distributed during the period. On the other hand, adjusted operating profit amounted to €13 million, or a 5% year-on-year decrease.

New acquisitions

During the period, Logista has formalized two new acquisitions. First, the purchase of SGEL Libros through its subsidiary Logista Libros, consolidating its position as the leading independent book distributor in Spain and Portugal. In addition, near the end of the reporting period, the Company concluded the acquisition of Belgium Parcels Service (BPS). This strategic operation continues Logista’s expansion in Europe and strengthens its position in the pharmaceutical distribution and courier segments in the Benelux region.

Iñigo Meirás, CEO of Logista, highlighted that “the company continues to deploy its diversification and value creation strategy. Throughout the first quarter we have formalized two new acquisitions, namely SGEL Libros through our subsidiary Logista Libros and also Belgium Parcels Service, which will reinforce our position in pharmaceutical distribution in Central Europe.”

In line with its strategic plan, Logista continues to focus mainly on generating additional growth and diversifying its current core business. The Group also seeks opportunities to acquire complementary and synergistic companies.

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