ID Logistics Half-Yearly Revenue Results
ID Logistics, a prominent player in European contract logistics, has released its half-yearly financial results for 2023. The company’s performance reflects its ability to navigate challenging market conditions and maintain growth through strategic initiatives and international expansion.
Revenues for H1 2023
In the face of declining consumer volumes across Europe, ID Logistics showcased its resilience and growth potential. The company’s revenues for the first half of 2023 demonstrated its dynamic revenue strategy and strong international positioning. Eric Hémar, the Chairman and CEO of ID Logistics, emphasized the company’s commitment to sustaining its growth model despite challenging circumstances.
2nd Quarter Revenues:
International: €446.9 million (7.2% growth)
France: €211.3 million (-3.4%)
Total: €658.2 million (3.6% growth)
1st Semester Revenues:
International: €877.3 million (17.7% growth)
France: €411.3 million (-2.7%)
Total: €1,288.6 million (10.3% growth)
| Revenues, in €m | Division | 2023 | 2022 | Change |
|---|---|---|---|---|
| 2nd quarter | International | 446.9 | 416.8 | +7.2% |
| France | 211.3 | 218.7 | -3.4% | |
| Total | 658.2 | 635.5 | +3.6% | |
| 1st semester | International | 877.3 | 745.5 | +17.7% |
| France | 411.3 | 422.9 | -2.7% | |
| Total | 1,288.6 | 1,168.4 | +10.3% |
ID Logistics achieved steady growth during the second quarter of 2023, with revenues reaching €658.2 million, marking a 3.6% increase compared to the same period in the previous year. Notably, this growth was even more robust on a like-for-like basis, registering a 3.3% increase. This achievement is especially noteworthy given the strong growth of 15.5% like-for-like in the second quarter of 2022.
The company sustained its growth momentum in international markets, with revenue growth of €446.9 million, representing a notable 7.2% increase. When accounting for factors such as acquisitions and exchange rate effects, the growth was a commendable 6.9%, building upon the significant increase of 23.6% in the same quarter of the previous year.
Revenues in France amounted to €211.3 million, showing a decrease of 3.4%. This dip can be attributed to lower consumer volumes, particularly in sectors like DIY and home furnishings, as well as the company’s risk management measures. Throughout the second quarter of 2023, ID Logistics initiated seven new projects, reflecting its commitment to expansion and adaptation.
New Contracts and Initiatives
ID Logistics continued its trend of securing new contracts, even amidst the challenging market environment. Notable developments include:
ID Logistics strengthened its partnership with Intermarché, preparing to open a new site in the south of France that will manage a wide range of goods, including alcoholic beverages. This initiative will also generate significant employment opportunities.
Spain Expansion: The company extended its footprint in Spain by launching a new business for a major retailer in the Valladolid region.
In Italy, ID Logistics established a new site for an international fashion company, with plans to support a major retailer in Milan. In the United States, the company expanded its coverage with a new facility in Texas, effectively covering the entire Sun Belt region.
Following its acquisition of Spedimex, ID Logistics ventured into the UK market to manage e-commerce and store returns. The move leveraged the expertise of the company’s Polish teams and aimed to capitalize on future commercial synergies.