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AUTOMOTIVE & TRANSPORTATION | Transportation Services / Freight forwarding & courier services
grupologista.com

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Founded Year

1999

About Logista

Logista is a distributor of products and services to proximity retailers. It is based in Madrid, Spain.

Logista Headquarter Location

C/ Trigo, 39. Polígono Industrial Polvoranca

Madrid, 28914,

Spain

Latest Logista News

Compañía de Distribución Integral Logista S A : H1 2021 results announcement

May 10, 2021

05/10/2021 | 03:24am EDT Message : October 2020 - March 2021 The first half of this fiscal year can be described as very positive, as there were increases in the main figures in the profit and loss account, despite the fact that impacts from COVID-19 were only recorded in March: Increases in both Revenues (of 4.7%) and Economic Sales1 (of 5.8%). A good performance of the activity, which led to increases of 30.0% in the Operating Profit and of 23.1% in the Adjusted Operating Profit1 An increase of 33.2% in the Net Profit Summary of the Main Financial Figures M€ 1 Oct. 2019 - 31 Mar. 2020 % Change An estimate of the impact of COVID-19 on the progress and results of the business In the first half of the current fiscal year, the situation resulting from the pandemic has been worsening compared with that observed at the beginning of the year, but it is now better than that which existed at the close of the first half-year of the 2020 fiscal year. In the past six months, all the countries in which we operate have experienced new waves of the pandemic, especially since January. The governments of Spain, Portugal, France and Italy have been taking new measures, including the restriction of opening hours and of movement, the closure of shops, and selective confinements, but, in general, these measures have been less drastic than those that were taken in the second quarter of the previous fiscal year. However, just as it did then, Logista has again maintained its activity with almost complete normality in most of the businesses, whose activities have once again been considered as essential. The adverse effects of COVID-19 on results have been offset by cost-reduction measures and by the adoption of certain strategic decisions, which have enabled certain positive trends, which in certain sectors resulted from the situation created by the pandemic, to be converted into increased activity. Among the positive effects of the situation created by the pandemic - which could already be observed during the previous fiscal year - worth noting were the increased activity in the distribution of goods ordered on line (last mille), in the distribution of pharmaceutical products and in the development of services to manufacturers, and the greater volumes of tobacco distributed in France, caused by the measures to restrict movements, especially those across frontiers. 1 See the appendix "Alternative Performance Measures" Investor Relations contact: investor.relations@logista.com, + 34 91 481 9826 1 The progress of the business and the principal figures from the profit and loss account in the first half of the fiscal year The Group's Revenues increased by 4.7% compared with the previous fiscal year, increases being recorded in France and Italy. Increased turnover was observed in most of the main businesses, and there were increases in tobacco distribution in Italy and France, in the distribution of convenience products in all countries, and in Pharma and Courier Services in Spain. Economic Sales1 increased by 5.8%, reaching 599.8 million euros, due to improvements in all the geographical areas. By activity, the increased Economic Sales1 in Pharma, Courier Services and Long- Distance Transport, together with increases from the distribution of tobacco and convenience products in Italy and France, were far greater than the reductions in the distribution of periodicals, the transport of industrial parcels and the distribution of tobacco and convenience products, in Iberia, and the distribution of convenience products through networks other than that of the tobacconists, in France. Total operating costs1 increased by 1.5%, which was far less than the increase in Economic Sales1. The Adjusted Operating Profit1 reached 138.0 million euros, an increase of 23.1% compared with the first half of the previous fiscal year. The margin of the Adjusted Operating Profit over the Economic Sales1 was of 23.0%, compared with the 19.8% obtained in the same period of fiscal year 2020. The positive impact on results resulting from the changes in the valuation of stocks due to changes in taxation and prices of tobacco during the half-year (about +3 million euros) contributed to this increase in the Adjusted Operating Profit1 compared with that of the first half-year of the 2020 fiscal year, because in that period there was a negative impact of about 6 million euros. It has also been estimated that during the first half-year of the previous fiscal year, negative results of about 5.5 million euros were recorded due to COVID-19, but its impact in the current fiscal year is not regarded as significant. The costs of restructuring1 have increased compared with those of last year, reaching 4.4 million euros (against 2.2 million euros in the first half-year of the 2020 fiscal year). In the current fiscal year, capital gains generated from the sales of assets have been greater than those in the same period of the 2020 fiscal year (1.1 million euros and 0.3 million euros respectively), as a result of the sale of an asset in Spain. The Operating Profit increased by 30.0%, and reached 110.2 million euros. The Financial Results were far better than those in the previous fiscal year, and reached 10.9 million euros (compared with 6.1 million euros), mainly due to the interest generated by excessive payments on account of corporation tax in Spain in fiscal years 2017 and 2018, following a ruling of the Tribunal Constitucional. The effective rate of tax was 27.4%, which was almost the same as the 27.3% of last year. As a result of all of the foregoing, the Net Profit increased by 33.2%, to 87.8 million euros. 1 See the appendix "Alternative Performance Measures" Investor relations contact: investor.relations@logista.com, + 34 91 481 9826 2 A. Iberia: Spain and Portugal Revenues in Iberia amounted to 1,563.3 million euros, compared with 1,578.6 million euros in the 2020 fiscal year, representing a decrease of 1.0%. The Economic Sales1 of the segment amounted to 309.9 million euros, 4.8% more than the 295.8 million euros recorded in the first half of the previous fiscal year. Revenues in the Tobacco and Related Products business line fell by 1.9%, due to the reduction in the volumes of tobacco distributed in Spain and in Portugal. The volumes of cigarettes plus RYO and others (including units of heated tobacco) distributed in Iberia decreased by 6.1% in the first 6 months of the current fiscal year, compared with the same period in the 2020 fiscal year, and were lower in both Spain and Portugal. The distributed volumes of those categories in Spain were 6.0% lower than those in the first half of the previous fiscal year, mainly as a result of sales in tourism and lower cross-border sales due to the restrictions on movement since the beginning of the pandemic. In general, the tobacco manufacturers kept the retail prices of their products stable both in the current fiscal year and in the previous one, so there were no material impacts resulting from variations in the value of stocks. The Economic Sales1 of Tobacco and Related Products decreased by 0.3% compared with those of last year. The effect of applying revised prices which included the 'track and trace' service for tobacco manufacturers, combined with the effect of invoicing the other added-value services, was to partially compensate for the impact of the reduction in the volumes of distributed tobacco on the Economic Sales1. In addition, performance in the distribution of convenience products was very positive as a result of the incorporation of new customers, more customers/points of sale and a more dynamic demand for products in convenience shops due to the restrictions caused by COVID-19. There was double-digit growth in the Revenues and in the Economic Sales1 of these products, compared with the same period of the 2020 fiscal year, which helped to mitigate the fall in the Economic Sales1 in that business line. The situation caused by the pandemic favoured an increase in electronic commerce which in turn translated into increased activity in Courier Services, whereas the selective confinements and the restrictions on movements adversely affected demand in Industrial Parcels. The fall in the long-distance transport of tobacco was largely mitigated by the incorporation and expansion of transport services for other sectors, some of them, such as the pharmaceutical and FMCG industries, being in a phase of strong growth. In terms of Economic Sales1, there were positive performances in Courier Services and in Long- Distance Transport, and the overall figure for Economic Sales1 in Transport increased by 5.7%, to 148.6 million euros. In Long-Distance Transport, the improvement in the margins compensated for the impact of the reduced activity on its Economic Sales1, while the prices in Industrial Parcels suffered from the pressure of competition due to the situation of low demand, resulting in a slight regression in Economic Sales1. 1See the appendix "Alternative Performance Measures" Investor relations contact: investor.relations@logista.com, + 34 91 481 9826 5 This is an excerpt of the original content. To continue reading it, access the original document here . 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