Id Logistics Group · EURONEXT:IDL
Id Logistics — H1 2013 Earnings Presentation
24 slides from Id Logistics's earnings presentation, Aug 29, 2013
Slide 1: First half 2013 results presentation
First half 2013 results presentation 29 August 2013
Slide 2: Contents
Contents 1. ID Logistics, France’s leader in contract logistics 2. First half 2013 highlights 3. First half 2013 results 4. Outlook 5. Appendix 2 First half 2013 results - 29 August 2013
Slide 3: What is contract logistics?
What is contract logistics? Long-term contract between an industrial or a retailer and a logistics contractor, to provide end- to-end specific solutions, which will ensure the optimization of its supply-chain management and cost control. 3 First half 2013 results - 29 August 2013
Slide 4: A balanced international presence
A balanced international presence Europe 7,450 2,371,000 m² Asia 1,000 107,000 m² Latin America 4,100 579,000 m² Africa & Indian Ocean 300 52,000 m² 4 First half 2013 results - 29 August 2013
Slide 5: A diversified customer base
A diversified customer base Retail (65% of revenue) Manufacturing (30% of revenue) E-commerce (5% of revenue) Including CEPL: 50% of revenue Including CEPL: 45% of revenue Supermarkets Processed food DIY Non-food Home appliances and electronics Fragrances / Cosmetics Electronics / Multimedia Special
Slide 6: A compelling position in contract logistics
A compelling position in contract logistics Transport and logistics market Mail & parcel delivery Freight forwarding Land transport Contract logistics > Global market worth €200bn Multi-service global leaders including €8.5bn in France > 3.3% average Incumbent national players Integrated transport a
Slide 7: Contents
Contents 1. ID Logistics, France’s leader in contract logistics 2. First half 2013 highlights 3. First half 2013 results 4. Outlook 5. Appendix 7 First half 2013 results - 29 August 2013
Slide 8: A dynamic H1 2013 for ID Logistics
A dynamic H1 2013 for ID Logistics > Strong organic growth – France: sustained commercial activity and outperformed its market – International: like-for-like growth close to 40%, growth across all 11 of the Group's locations > Winning new customers Brazil Poland France Spain Russia > Profitable grow
Slide 9: A proven growth strategy
A proven growth strategy Four growth drivers France International New countries Positive price/volume effect with existing customers New contracts from existing customers New customers in existing sectors (retail or manufacturing) New customers in new sectors Cash 9 First half 2013 results - 29 Augu
Slide 10: Contents
Contents 1. ID Logistics, France’s leader in contract logistics 2. First half 2013 highlights 3. First half 2013 results 4. Outlook 5. Appendix 10 First half 2013 results - 29 August 2013
Slide 11: Good performances in H1 2013: revenue growth and improved profitability
Good performances in H1 2013: revenue growth and improved profitability > Strong revenue growth: 18.9% at constant scope – Dynamic business activity in France – Further growth acceleration in international markets > Continued improvement in profitability – Significant improvement in operating margin
Slide 12: Like-for-like growth close to 20%
Like-for-like growth close to 20% H1 2013 H1 2012 Like-for-like €m Change reported reported change* Revenue 310.7 268.0 15.9% 18.9% France 180.2 168.6 6.9% 7.8% International 130.5 99.4 31.3% 38.1% * At constant scope and exchange rates and excluding the closure of the fruit and vegetables business
Slide 13: Improvement in operating margin
Improvement in operating margin H1 2013 H1 2012 H1 2012 €m reported reported Change adjusted* Change Current operating income 8.5 4.5 +89% 6.4 +33% Operating margin 2.7% 1.7% +100bp 2.4% +30bp France 7.2 3.5 +105% 5.4 +33% Operating margin 4.0% 2.1% +190bp 3.3% +70bp International 1.3 1.0 +30% 1.0 +
Slide 14: Strong improvement in net income
Strong improvement in net income H1 2013 H1 2012 H1 2012 €m reported reported adjusted Current operating income 8.5 4.5 6.4 Non-recurring expenses - (6.4) - Net financial items (1.7) (1.5) (1.5) Tax (2.7) 0.3 (2.4) Consolidated net income 4.2 (3.0) 2.6 * Excluding the fruit and vegetables business d
Slide 15: Well-managed cash flow
Well-managed cash flow H1 2013 H1 2012 H1 2013 H1 2012 €m reported reported adjusted* adjusted* Cash flow from operating 12.6 3.9 12.6 11.2 activities before WCR Change in WCR (1.0) (0.4) Well managed WCR (0.1) (3.9) Capex (8.4) (10.7) Capex in line with (8.4) (10.7) growth Other changes (2.7) (1.9)
Slide 16: Balance sheet at 30 June 2013: solid financial position
Balance sheet at 30 June 2013: solid financial position 06/30/2013 12/31/2012 €m reported reported Non-current assets 143.1 142.8 WCR resources 54.6 56.7 Net debt 8.4 8.9 Equity 80.1 77.2 Gearing 10.5% 11.5% Cash 16 First half 2013 results - 29 August 2013
Slide 17: Contents
Contents 1. ID Logistics, France’s leader in contract logistics 2. First half 2013 highlights 3. First half 2013 results 4. Outlook 5. Appendix 17 First half 2013 results - 29 August 2013
Slide 18: Outlook
Outlook > Strong commercial activity in France and internationally, with the prospect of substantial new business start-ups in the second half of 2013 and early 2014 > Confirmation of double-digit revenue growth on ID Logistics' historical perimeter and improvement in margins > Priority given to the
Slide 19: CEPL – A strategic acquisition for ID Logistics
CEPL – A strategic acquisition for ID Logistics With the acquisition of CEPL in July 2013, ID Logistics has: > Become the French leader in highly automated solutions for retail order fulfilment and completed its offer as a “pure-player” > Expanded its customer portfolio to cover new market segments
Slide 20: In line with our commitments
In line with our commitments > Maintain a strong organic growth despite a challenging economic environment > Progressive improvement of the margins > Completion of a transforming acquisition financed in part by the IPO Cash 20 First half 2013 results - 29 August 2013
Slide 21: Contents
Contents 1. ID Logistics, France’s leader in contract logistics 2. First half 2013 highlights 3. First half 2013 results 4. Outlook 5. Appendix 21 First half 2013 results - 29 August 2013
Slide 22: CEPL – French specialist in highly automated solutions for retail order fulfilment
CEPL – French specialist in highly automated solutions for retail order fulfilment Key figures Geographical presence > Revenue of €180m (2013 estimate) > 27 sites > Operations in four countries > 2,200 staff > 600,000m² of warehousing facilities, of which 332,000m² owned Breakdown of revenue Main cu
Slide 23: ID Logistics/CEPL – Convergence, complementarity, difference
ID Logistics/CEPL – Convergence, complementarity, difference Convergence Complementarity Differences Complementary customer Low “asset-light” model Pure player in contract portfolio (only one (around 50% of property is logistics customer in common) wholly-owned) Contracts are long term Significant t
Slide 24: CEPL – A Balanced financing of the acquisition
CEPL – A Balanced financing of the acquisition > The amount of the acquisition takes into account: > The acquisition is funded by: – An equity value of €95.5m – €75m in bank debt repayable – A net operational debt of €20.0m over 6 years primarily property leases – €4m in payments in new shares, i.e.