Slide 1: Results Presentation FY-2023
Results Presentation FY-2023 November 8th, 2023
Slide 2: Disclaimer
Disclaimer ▪ This document has been prepared by Compañía de Distribución Integral Logista Holdings, S. A. (“Logista Holdings” or “the Company”) for information purposes, and does not constitute an offer of purchase, sale or exchange, nor an invitation for an offer of purchase, sale or exchange of sh
Slide 3: Key Highlights
Key Highlights
Slide 4: FY-2023 Key Highlights
FY-2023 Key Highlights 1 Robust Financial Performance with relevant organic and inorganic growth 2 Advancement of our diversification strategy reaching >50% non-tobacco1 economic sales 3 Successful integration of the transactions announced in 2022 and execution of new acquisitions 4 Renewal of the C
Slide 5: FY-2023 Key Highlights – Financial Performance
1 FY-2023 Key Highlights – Financial Performance Logista’s Financial Highlights (FY-2023 M€, YoY1 %) Key Financial Highlights1 ▪ Revenues of 12,428M€ (+8% YoY) 12,428 ▪ Relevant increase in Economic Sales up to 1,684M€ (+36% YoY) • Iberia: 1,093M€ (+58% YoY) 1,684 • Italy: 370M€ (+12% YoY) POI 30 27
Slide 6: FY-2023 Key Highlights – Diversification Strategy
2 FY-2023 Key Highlights – Diversification Strategy 2024 100% Acquisition of SGEL YE-2023 Libros – Consolidation as the largest independent book distributor in Spain 2023 The development of We will continue to seek our diversification further acquisitions strategy has allowed 2020-2022 100% Acquisit
Slide 7: FY-2023 Key Highlights – Carbó Collbatalle Integration
3 FY-2023 Key Highlights – Carbó Collbatalle Integration A Transaction & Business Description • Integration with Logista Parcel since October 1st, 2022, after the acquisition of a 100% stake • Additional capabilities in frozen and refrigerated logistic services specialised in the food sector B • Com
Slide 8: FY-2023 Key Highlights – Transportes El Mosca Integration
3 FY-2023 Key Highlights – Transportes El Mosca Integration A • Integration with Logista Freight since October 28th, 2022 Transaction • Two-step acquisition of a 73.33% stake; 60% in October 2022, and a further 13.33% in August 2023 & Business Description • Additional capabilities in refrigerated lo
Slide 9: FY-2023 Key Highlights – Latest Acquisitions
3 FY-2023 Key Highlights – Latest Acquisitions ▪ Acquisition closed on July 18th, 2023 ▪ Acquisition closed on October 2nd, 2023, through Logista Libros. ▪ Description: ▪ New business will be accounted for through equity method consolidation • Integrated logistics services provider for the pharmaceu
Slide 10: FY-2023 Key Highlights – Credit Line with Imperial Brands Renewal
4 FY-2023 Key Highlights – Credit Line with Imperial Brands Renewal Main terms of the credit line renewal Benefiting from the current high interest rate ▪ Maximum drawdown limit increases to 3,000M€ vs 2,600M€ environment through a credit line agreement with ▪ Reference Rate1 changes to Euribor 6m i
Slide 11: FY-2023 Key Highlights – High Dividend Proposed for 2023
5 FY-2023 Key Highlights – High Dividend Proposed for 2023 Dividend Proposal for 20232 ▪ 2023 net profit favours a high dividend proposal 245M€ • Profit on inventory of 30M€ vs. 8M€ in 2022 • Financial income of 84M€ vs. 22M€ in 2022 1,85€/sh. These two isolated effects add to a post-tax profit of 6
Slide 12: FY-2023 Key Highlights – High Dividend Proposed for 2023
5 FY-2023 Key Highlights – High Dividend Proposed for 2023 Dividendsallocated to FY 34% (M€, YoY1 %) 98 119 139 149 156 156 164 183 245 2015 2016 2017 2018 2019 2020 2021 2022 2023 1 Total dividends paid since IPO c. 1,410 M€ FY-2023 Results Presentation | 1 2 Notes: (1) Dividend proposed for 2023 s
Slide 13: FY-2023 Key Highlights – ESG Commitment
6 FY-2023 Key Highlights – ESG Commitment L ogista has updated its Sustainability Polity creating a new governance model for sustainability matters, including a new Sustainability Committee Logista’s Board of Directors CEO & Executive Audit, Control & Appointments and Committee Sustainability Commit
Slide 14: FY-2023 Key Highlights – ESG Commitment
6 FY-2023 Key Highlights – ESG Commitment A Glimpse of ESG actions taken throughout the year ▪ 2020-2023 sustainable kilometres target achieved moving from 60% to 78.5% of total km1 ▪ During 2023 we invested in more efficient vehicles ▪ Additional solar PV installations have been included in certain
Slide 15: Business Overview
Business Overview ory a = a a a oo a
Slide 16: Iberia Business Overview
Iberia Business Overview ▪ Tobacco Distribution ▪ Total volume2 distributed decreased by 1.8% Iberia Financial Highlights (FY-2023 M€, YoY1 %) ▪ Change in Inventories Value of 27M€ ▪ Convenience Distribution 4,473 ▪ Double digit YoY1 growth on Economic Sales ▪ New distribution channels (restaurants)
Slide 17: Italy Business Overview
Italy Business Overview Italy Financial Highlights ▪ Tobacco Distribution (FY-2023 M€, YoY1 %) ▪ Total volume2 distributed remained stable with strong increase of NGP products which offset a 2.9% decrease in traditional tobacco 4,256 ▪ Change in Inventories Value of -3.5M€ ▪ Convenience Distribution
Slide 18: France Business Overview
France Business Overview France Financial Highlights ▪ Tobacco Distribution (FY-2023 M€, YoY1 %) ▪ Total volume2 distributed declined by 7.4% in France ▪ Accretive change in Inventories Value of 6.7M€ 3,755 ▪ Convenience Distribution 226 ▪ Relevant increase in e-cigarrette sales, although still repr
Slide 19: Main Financials
Main Financials
Slide 20: Main Financials FY 2023 – Adjusted EBIT
Main Financials FY 2023 Adjusted EBIT (FY-2023 M€, YoY1 %) Economic Sales ▪ Positive performance in all major activities in Iberia, Italy and France 449 (378) ▪ Great contribution coming from new acquisitions in Iberia ▪ Profit on inventory driven by the changes in tobacco pricing and taxes 17% (10)
Slide 21: Main Financials FY 2023 – Net Profit
Main Financials FY 2023 Financial Results Net Profit ▪ 84M€ financial income vs. 22M€ last year (FY-2023 M€, YoY1 %) ▪ Average ECB interest rate for the period of 3.12% + spread of 37% 0.75% 11 (1) (21) Taxes 57 272 ▪ Effective tax rate of 25.9% vs 26.2% last year 27 Discontinued Operations 199 ▪ No
Slide 22: Main Financials FY 2023 – Normalised Free Cash Flow
Main Financials FY 2023 EBITDA Normalised Free Cash Flow ▪ Positive organic growth added to the consolidation of the (FY-2023 M€) acquisitions led to a 23% increase in EBITDA vs. last year. Financial Results 83 (115) ▪ +83M€ financial results (cash) vs. 19M€ last year thanks to 471 the increase in i
Slide 23: Share Price Performance in FY 2023
Main Financials FY 2023 Share Price Performance in FY 2023 37% 140 130 2023TSR1 120 110 30% 100 90 2023 80 Share Price 2 Logista IBEX 35 IBEX Top Dividend 25,50€ Max. Share Price3 FY-2023 Results Presentation | 2 3 Notes: (1) Total Shareholder Return from 30 September 2022 to 29 September 2023 not c
Slide 24: Closing Remarks & Outlook
Closing Remarks & Outlook
Slide 25: Closing Remarks
Closing Remarks ▪ Logista is completing the full integration of the acquisitions ▪ Actively working on implementing synergies between the different businesses ▪ Robust results obtained during 2023 ▪ Positive change on inventory value for the period of 30M€ ▪ Benefitting from a high interest rate env
Slide 26: 2024 Outlook
2024 Outlook 1 Maintaining the dividend policy will be a priority in any scenario 2 Following Logista’s diversification strategy we continue to look for small and mid-size acquisitions 3 Logista will continue to register sustainable growth We expect Adjusted EBIT for 2024 to grow mid-single digit ov
Slide 27: Appendix
Appendix
Slide 28: Appendix. Revenues Evolution (By segment and activity)
Appendix. Revenues Evolution (By segment and activity) M€ FY 2023 FY 2022 Δ% Iberia M€ 4,473 FY 2022 3,743 FY 2021 19.5% % Iberia 3,601 3,742.93,251 3,325.3 12.6% 10.8% Tobacco and related products Tobacco and related products 3,251.1 2,875.6 13.1% Transport 837 457 82.9% Transport 457.5 411.3 11.2
Slide 29: Appendix. Economic Sales Evolution (By segment and activity)
Appendix. Economic Sales Evolution (By segment and activity) M€ FY 2023 FY 2022 Δ% MIberia € 1,093 FY 2022 692 FY 2021 57.9% % Iberia 382 692.1332 634.3 9.1% 15.1% Tobacco and related products Tobacco and related products 332.0 303.2 9.5% Transport 679 318 113.4% Transport 318.1 290.5 9.5% Pharmace
Slide 30: Appendix. Adjusted EBIT Evolution (By segment)
Appendix. Adjusted EBIT Evolution (By segment) M€ FY 2023 FY 2022 Δ% Iberia 198 FY 2022 154 FY 2021 29.0% % Italy 106 153.9 101 133.5 4.8% 15.2% France 61 101.2 57 98.5 6.8% 2.8% Total adjusted EBIT 366 57.4 312 65.6 17.1% (12.5)% Total adjustments EBIT 1 312.4 297.5 5.0% FY-2023 Results Presentati
Slide 31: Appendix. Profit & Loss Account
Appendix. Profit & Loss Account M€ FY 2023 FY 2022 Δ% Revenues 12,428 11,464 8.4% Economic sales 1,684 1,235 36.3% (-) Operating cost of logistics networks1 (1,160) (782) (48.3%) (-) Commercial operating expenses1 (65) (54) (19.1%) (-) Operating expenditure on research and central offices1 (94) (86)
Slide 32: Appendix. Cash Flow Statement
Appendix. Cash Flow Statement M€ FY 2023 FY 2022 Change EBITDA M€ 471 FY 2022 FY 383 2021 87.7 CHANGE EBITDA Restructuring and other payments 383.3 (5) 370.4 (37) 12.9 31.8 Restructuring & Other Payments (37.3) (19.5) (17.8) Net financial income/(expense) 83 19 63.4 Financial Result 19.2 20.2 (1.1)
Slide 33: Appendix. Balance Sheet
Appendix. Balance Sheet M€ September 2023 September 2022 M€ 3 0 September 2022 3 0 September 2021 Property, plant and equipment and other fixed assets 450 322 PP&E and other Fixed Assets 322.1 320.6 NetNet Long-Term Financial long-term Assets financial investments 25 21.0 19.821 NetNet Goodwill good
Slide 34: Appendix. Amortization of Intangible Assets - PPA
Appendix. Amortization of Intangible Assets - PPA Purchase M€ Price Allocation (PPA, M€): Amortization of the 3 0 intangible Septemberassets 2022 linked to the 3 0 September 2021 acquisitions of the French business, Speedlink, Carbó Collbatallé and Transportes El Mosca PP&E and other Fixed Assets 32
Slide 35: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Economic Sales: equivalent to Gross Profit and used without distinction by the Group’s Management to refer to the figure resulting from subtracting Procurements from the Revenue figure. The Group’s Management considers that this figure is a meaningful measu
Slide 36: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Adjusted Operating Profit (Adjusted EBIT): This indicator is calculated, basically, by deducting from the Operating Profit those costs that are not directly related to the revenue obtained by the Group in each period, thus facilitating the analysis of the G
Slide 37: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Adjusted Operating Profit margin over Economic Sales: calculated as Adjusted Operating Profit divided by Economic Sales (or, indistinctly, Gross Profit). This ratio is the main indicator used by the Group’s Management to analyse and measure the profitabilit
Slide 38: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Operating costs: these include the costs of logistics networks, commercial expenses, research expenses and head office expenses that are directly related to the revenues obtained by the Group in each period. It is the main figure used by the Group’s Managem
Slide 39: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Non-recurring costs: This term refers to those expenses which, although they might occur in more than one period, do not have continuity in time (unlike operating expenses) and only affect the accounts at a specific moment. This figure helps the Group’s Man
Slide 40: Your partner along the way, all the way
Your partner along the way, all the way