Id Logistics Group · EURONEXT:IDL
Id Logistics — IPO Roadshow (March 2012)
37 slides from Id Logistics's IPO roadshow presentation, Mar 28, 2012
Slide 1: ID Logistics: A Contract Logistics Pure Player
↗ ID LOGISTICS A CONTRACT LOGISTICS PURE PLAYER Wednesday March 28, 2012 Créateur de solutions logistiques durables
Slide 2: Disclaimer
↗ DISCLAIMER This document and all information contained herein do not constitute an offer for the sale of or subscription for, or the solicitation of an order to purchase or subscribe for, shares in ID Logistics Group in any country whatsoever. The release, publication or distribution of this docum
Slide 3: Details of the Operation
↗ DETAILS OF THE OPERATION Issuer ID Logistics Group Transaction Initial Public Offering Listing NYSE Euronext Paris Public offering in France Offer structure International institutional offering Shares offered New shares only Price range €20.88 - €25.52 (median price €23.20) Initial size of the off
Slide 4: Offering Schedule
↗ OFFERING SCHEDULE Start of book building March 28th, 2012 Roadshow March 28th – April 11th, 2012 End of book building April 11th at 5:00 pm, Paris time End of retail offering April 11th at 5:00 pm, Paris time Pricing April 12th, 2012 Settlement/ Delivery April 17th, 2012 Start of trading April 18t
Slide 5: Distribution of Capital Stock
↗ DISTRIBUTION OF CAPITAL STOCK > Pre-IPO breakdown of capital stock Other 17.1% Christophe Satin 4.1% Immod* 47.2% Eric Hémar 31.6% * As of the Prospectus Date, Immod’s capital stock is held indirectly as to 85.87% by Mr Eric Hémar via Comète and held indirectly as to 14.13% by Mr Christophe Satin
Slide 6: Management Team
↗ MANAGEMENT TEAM > Eric Hémar 48 years Founder, Chairman and CEO of ID Logistics > Christophe Satin 41 years Co-founder and Senior Vice President of ID Logistics > Yann Perot 41 years Chief Financial Officer 6 Créateur de solutions logistiques durables
Slide 7: A Track Record of Growth
↗ A TRACK RECORD OF GROWTH Revenues (€m) +19.6% 462 + 9,000 employees +24.7% 386 310 + 2,000,000 m² warehouse space 20 Operations in 11 countries 2001 2009 2010 2011 7 Créateur de solutions logistiques durables
Slide 8: A Contract Logistics Pure Player Strategy
↗ A contract logistics pure player strategy 8 Créateur de solutions logistiques durables
Slide 9: Contents
↗ CONTENTS 1. Contract logistics, a growing market 2. ID Logistics, an international pure player 3. A successful business model 4. A sustainable growth strategy 9 Créateur de solutions logistiques durables
Slide 10: A Growing Market
A GROWING ↗ MARKET New challenges A growing market Global players and specialists 10 Créateur de solutions logistiques durables
Slide 11: New Challenges: Changes in Consumer Behavior
↗ THE NEW CHALLENGES FACING CONTRACT LOGISTICS Changes in consumer behavior New Castorama retail space a new supply chain strategy – 100% product availability – Single sale by category – 0.5% target stock-out 11 Créateur de solutions logistiques durables
Slide 12: New Challenges: Increasing Globalization of Operators
↗ THE NEW CHALLENGES FACING CONTRACT LOGISTICS Increasing globalization of operators on worldwide and new markets • Carrefour in Brazil • Danone in China 12 Créateur de solutions logistiques durables
Slide 13: New Challenges: Increasing Sustainable Expectations
↗ THE NEW CHALLENGES FACING CONTRACT LOGISTICS Increasing sustainable expectations • Lower carbon footprint (-4.5% per pallet in 2011) • Involvement in customer sustainable development projects 13 Créateur de solutions logistiques durables
Slide 14: Shifting from Means-Driven to Results-Driven Approach
↗ SHIFTING FROM MEANS-DRIVEN TO RESULTS-DRIVEN APPROACH Delivering Transporting the right product Optimizing Storing at the right time the supply at the right place chain Picking at the best price A STRATEGIC LINK IN THE VALUE CREATION CHAIN 14 Créateur de solutions logistiques durables
Slide 15: The Growing Market
↗ ATHEGROWING MARKET ADDRESSABLE CONTRACT LOGISTICS MARKET A global market worth €196 bn in 2010* o/w €8 bn in France, average growth of 3.3% in 2011-2015* A stronger growth in emerging markets * Sources: Analytiqa 2011/Xerfi 15 Créateur de solutions logistiques durables
Slide 16: A Specialists' Market
↗ A SPECIALISTS’ MARKET TOP 10 = 40% of the French market Contract logistics market share Global players France 2010 Hybrids 7% Pure players 6% 5% 4% 3% 2% 1% Source: Supply Chain Magazine/Xerfi 16 Créateur de solutions logistiques durables
Slide 17: An International Pure Player
AN ↗ INTERNATIONAL PURE PLAYER A contract logistics specialist The 4 growth drivers of the company 17 Créateur de solutions logistiques durables
Slide 18: A Contract Logistics Specialist
↗ A CONTRACT LOGISTICS SPECIALIST 18 Créateur de solutions logistiques durables
Slide 19: A Mass Market Player
↗ A MASS MARKET PLAYER Large retailers Industrial customers Other e-commerce General DIY Household Food Fresh specialized Non-food retailers Decoration equipment industry produce retailers 19 Créateur de solutions logistiques durables
Slide 20: Customer-Oriented Organization
↗ CUSTOMER-ORIENTED ORGANIZATION Customer driven International Innovative Strong values Participation in defining customer’s logistics strategy Special relationship Long-term relationships Building a Long-term contract 3-10 years partner Partner relationship Renewal rate > 95% relationship Monitorin
Slide 21: Major Presence in Emerging Countries
↗ MAJOR PRESENCE IN EMERGING COUNTRIES Customer driven International Innovative Strong values Europe 4,750 1,548,000 m² Asia 700 106,000 m² Latin America 3,600 528,000 m² Africa & Indian Ocean 250 55% of contracts concern customers 38,000 m² served in two or more countries 21 Créateu
Slide 22: Innovation at the Core of Our Solutions
↗ INNOVATION AT THE CORE OF OUR SOLUTIONS Customer driven International Innovative Strong values 2004 1st logistics operator to introduce voice-picking 2006 development of the Track and Trace collaborative web portal 2007 full or partial mechanization of logistics operations 2010 introduction of the
Slide 23: Motivated Teams, Strong Values
↗ MOTIVATED TEAMS, STRONG VALUES Customer driven International Innovative Strong values Entrepreneurship Operational > Rallying teams around strong values excellence High standards Solidarity > Training • 3.5% training budget > legal requirement • GIID: a team of employees ready to provide assistanc
Slide 24: A Successful Business Model
A SUCCESSFUL ↗ BUSINESS MODEL Dynamic growth A resilient business model “Asset light” management Solid track record 24 Créateur de solutions logistiques durables
Slide 25: A History of Growth
↗ A HISTORY OF GROWTH 27% 35% rev. rev. Annual like-for-like growth: 34% Revenue (€m) Revenue (€m) 25 Créateur de solutions logistiques durables
Slide 26: Dynamic Like-for-Like Growth
↗ DYNAMIC LIKE-FOR-LIKE GROWTH Winning new contracts Like-for-like Contract profitability profile growth Contract investment profile = International organization Dynamic force Cash 26 Créateur de solutions logistiques durables
Slide 27: A Successful Business Model
↗ A SUCCESSFUL BUSINESS MODEL > Revenues: volumes and prices • Based on volumes handled or stored • Indexing clauses (e.g. real estate, inflation indices) covering the main costs • Low sensitivity to value of goods handled > Cost structure: variable based on volumes • Staff: main cost item • 20% of
Slide 28: Income Statement
↗ INCOME STATEMENT (€m) 2011 2010 2009 France 298.6 253.4 213.7 International 163.4 132.8 96.1 Revenues 462.0 386.2 309.8 France 11.2 9.1 9.0 International 3.6 3.4 0.2 Operating income 14.8 12.5 9.2 % of revenues 3.2% 3.2% 3.0% 28 Créateur de solutions logistiques durables
Slide 29: Income Statement
↗ INCOME STATEMENT (€m) 2011 2010 2009 Revenues 462.0 386.2 309.8 Purchases & external charges (233.4) (199.5) (158.2) Staff costs (193.8) (155.9) (125.3) Other income and expenses (5.9) (5.5) (6.5) EBITDA 28.9 6.3% 25.3 6.6% 19.8 6.4% Depreciation and amortization (14.1) (12.8) (10.6) Operating inc
Slide 30: Cash Flows
↗ CASH FLOWS (€m) 2011 2010 2009 Cash flow from operating activities excl. WC 25.5 22.3 20.2 Change in working capital 4.1 9.5 (3.6) Cash flow from operating activities 29.6 31.8 16.6 Cash flow from investing activities (17.3) (44.0) (12.9) Net costs from financing activities (3.0) (3.5) (2.8) Other
Slide 31: Simplified Balance Sheet
↗ SIMPLIFIED BALANCE SHEET (€m) 12/31/2011 12/31/2010 12/31/2009 Fixed assets 133.5 131.4 96.1 Trade receivables 80.7 62.4 50.0 Trade payables (63.4) (49.5) (42.8) Tax and social security payables (72.7) (62.5) (44.4) Other receivables (payables) – net 11.7 10.0 7.9 Provisions (9.0) (8.7) (7.1) Work
Slide 32: ID Logistics ISR Indicators
↗ ID LOGISTICS ISR INDICATORS Carbon footprint1 Environmental management – CO2 kg/pallet – Environmental management system includes • Logistics 1.0↘ 55 best practices • Transport 13.5↘ – Waste sorting ratio 86% – % trucks Euro 5 compliant 45%↗ – CDP (Carbon Disclosure Project) 71/100 – Waste recycli
Slide 33: A Sustainable Growth Strategy
A SUSTAINABLE ↗ GROWTH STRATEGY Good visibility A track record of acquisitions 33 Créateur de solutions logistiques durables
Slide 34: Good Visibility in a Growing Market
↗ GOOD VISIBILITY IN A GROWING MARKET > Effective, customized solutions > Contract logistics – a growing market > Ongoing sector consolidation 34 Créateur de solutions logistiques durables
Slide 35: A Track Record of Acquisitions
↗ A TRACK RECORD OF ACQUISITIONS > 2009 • Definition of acquisition strategy • Creation of dedicated team €25 million annual revenues and 235 employees > 2010 Expansion of the industrial offering • Acquisition of 2 suppliers working for Site synergy: Leroy Merlin and Antalis 170,000 sqm over 10 site
Slide 36: Sustainable Logistics Solutions: Annex
↗ SUSTAINABLE LOGISTICS SOLUTIONS Annex 36 Créateur de solutions logistiques durables
Slide 37: Mini CV
↗ MINI CV > Eric Hémar – Chairman and CEO Eric Hémar, 48 years, a former student of ENA, began his career at the Cour des comptes (French government Court of Auditors) before joining the French Equipment, Transport and Tourism Ministry in 1993, where he was technical advisor to minister Bernard Boss