ID Logistics Group reports strong financial performance in the first half of the year. The company’s revenue reached €1,518.6 million, a significant increase of 18.7% compared to the same period last year (14.3% on a like-for-like basis). Operating profit grew by 22.4% to €58.3 million, representing a healthy 10% of revenues.
During this period, ID Logistics successfully launched 14 new projects while maintaining a stable financial position with an IFRS 16 leverage ratio of 1.7x EBITDA.
“During the first half of 2024, ID Logistics effectively managed the record growth of its business, recording further improvement in operational profitability while simultaneously maintaining leverage despite the costs of numerous emerging new projects. The Group continues to acquire strategic customers on both sides of the Atlantic, which will ensure its further development throughout the year,” says Eric Hémar, CEO of ID Logistics Group.
In the first half of 2024, the Group continued to improve operational profitability, with a rise in base EBITDA of +22.4% to €234.6 million. The base EBITDA margin has increased by 40 basis points to 15.4%. The base operating income increased by +22.7% to 58.3 million euros, while the operating margin reached 3.8% in the first half of 2024, representing a significant increase despite the cost of recent startups, which significantly affected operations in France.
In the second half of 2024, the Group will focus on increasing productivity of recently launched locations and ensuring the success of upcoming projects, in particular the launch of the third location in Salt Lake City (USA) for a global e-commerce leader and opening a new 50,000 sqm location in the UK for a leading fashion industry company. Furthermore, ID Logistics underlines that the company’s activity is characterised by traditionally better profitability and higher cash flows in the second half of the year.
Source: https://managerplus.pl/id-logistics-z-dwucyfrowa-poprawa-wynikow-finansowych-w-i-polroczu-2024-r-90070
