Slide 1: Logista H1 2022 results
09.05.2022 Logista H1 2022 results 010
Slide 2: Disclaimer
Disclaimer Logista | H1 2022 results • 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 purcha
Slide 3: H1 2022 highlights, Business review, Financial review, Outlook
1 H1 2022 highlights 2 Business review 3 Financial review 4 Outlook
Slide 4: Results highlights
Results highlights Logista | H1 2022 results Ec. Sales Adj. EBIT Net Profit continuing operations +3% +6.3% +9.4% • Positive business performance in a difficult macroeconomic context • Reported EBIT growing double-digit (+13.5%) • Flat Net Profit performance after discontinued operations (+0.1%) 4
Slide 5: Speedlink Worldwide Express acquisition
Speedlink Worldwide Express acquisition Logista Logista Logista | Title Logista Logista | JGA | JGA | JGA 2022 | H1 Presentation 2022 results 2022 2022 Strengthening our position in medical/healthcare distribution Logista | JGA 2022 • Acquisition of 70% of Speedlink Worldwide Express, specialist in
Slide 6: Speedlink Worldwide Express acquisition: Rationale
Speedlink Worldwide Express acquisition Logista| Title Logista | H1 Presentation 2022 results Logista | JGA 2022 Rationale • Geographic diversification for Nacex with potential upside through expanding courier activity in Belgium, Germany and into The Netherlands, country with the largest number of
Slide 7: ESG agenda recognised by independent rating firms
ESG agenda recognised by independent rating firms Logista | H1 2022 results • First requested Sustainalytics score in September 2021: Low ESG Risk Rating, ranking 5/80 of Air Freight & Logistics sub-industry and 9/358 of Transportation industry • Member of A List and Supplier engagement leader by CD
Slide 8: Business review
2 Business review 8
Slide 9: Iberia
Iberia Logista | H1 2022 results • Tobacco distribution: Volumes2 up 3.7%, growing in both Spain and Portugal 11.7% Value-added services contributing to increase T&R Economic Sales 7.5% Inventories’ valuation: higher positive impact 1,751 23.9% • Convenience distribution: 337 77 Positive per
Slide 10: Italy
Italy Logista | H1 2022 results 14.9% (1.3)% 1,899 (3.1)% 156 47 • Tobacco distribution: Revenues Econ. Sales Adj. EBIT Volumes2 up 4.2% boosted by new categories of products Growth of value-added services for manufacturers Not significant inventories’ valuation impact vs. positive in H1 2021
Slide 11: France
France Logista | H1 2022 results (7.2)% (3.9)% 1,829 (15.6)% 106 25 • Tobacco distribution: Revenues Econ. Sales Adj. EBIT Volumes2 down 7.3%, parallel market growing after borders reopening Value-added services partially offsetting fell of tobacco volumes Inventories’ valuation: not material
Slide 12: Financial review
3 Financial review 12
Slide 13: Adjusted EBIT growing mid-single digit
Adjusted EBIT growing mid-single digit Logista | H1 2022 results +6.3% 25.0% 24.2% 17 (7) (1) (1) 149 141 H1 2021 H1 2022 Ec. Sales Op. costs Adj. EBIT Margin ADJ. EBIT H1 2021 EC. SALES COSTS LOGISTICS COMMERCIAL COSTS RESEARCH & G&A ADJ. EBIT H1 2022 NETWORKS COSTS All data in M€, unless otherwise
Slide 14: Reported EBIT growing double-digit
Reported EBIT growing double-digit Logista | H1 2022 results +13.5% 128 113 • Lower restructuring cost (+1 M€) • Higher capital gains (+5 M€) • Higher results from book distribution H1 2021 H1 2022 All data in M€, unless otherwise stated 14
Slide 15: Net profit growth harmed by discontinued operations, continuing operations up 9.4%
Net profit growth harmed by discontinued operations, continuing operations up 9.4% Logista | H1 2022 results +0.1% 15 (3) (3) (9) 88 88 NET PROFIT H1 2021 REPORTED EBIT FINANCIAL RESULTS TAXES DISCONTINUED NET PROFIT H1 2022 OPERATIONS All data in M€, unless otherwise stated • Financial income reduc
Slide 16: Cash generation
Cash generation Logista | H1 2022 results 185 9 (49) (43) 101 EBITDA FINANCIAL RESULTS RESTRUCTURING & NET INVESTMENTS NORMALISED FREE CASH NORMALISED TAXES FLOW All data in M€, unless otherwise stated • EBITDA growth reflecting positive activity performance • Net investments including Speedlink acq
Slide 17: Outlook & final remarks
4 Outlook & final remarks 17
Slide 18: Outlook 2022: Adj. EBIT, mid-single-digit organic growth
Outlook 2022 Logista | H1 2022 results Adj. EBIT, mid-single-digit organic growth • Business performance in H1 2022 and current market conditions suggest an organic mid-single-digit Adjusted EBIT growth rate in FY2022 • In line with our strategic plan to diversify the Group continues to look for M&A
Slide 19: Appendix
01 Appendix 19
Slide 20: Revenues Evolution by segment and activity
Revenues Evolution Logista | H1 2022 results By segment and activity M€ H1 2022 H1 2021 Δ% Iberia 1,750.9 1,567.3 11.7% Tobacco and related products 1,504.4 1,339.1 12.3% Transport 220.6 205.8 7.2% Pharmaceutical distribution 104.1 90.1 15.5% Other businesses 9.4 9.2 2.4% Adjustments (87.6) (76.8) -
Slide 21: Economic Sales Evolution by segment and activity
Economic Sales Evolution Logista | H1 2022 results By segment and activity M€ H1 2022 H1 2021 Δ% Iberia 337.4 313.9 7.5% Tobacco and related products 160.0 144.5 10.7% Transport 154.7 148.6 4.1% Pharmaceutical distribution 44.5 41.2 8.0% Other businesses 9.0 8.7 3.2% Adjustments (30.8) (29.1) -5.7%
Slide 22: Adjusted EBIT Evolution by segment
Adjusted EBIT Evolution Logista | H1 2022 results By segment M€ H1 2022 H1 2021 Δ% Iberia 77.4 62.5 23.9% Italy 46.7 48.2 -3.1% France 25.3 29.9 -15.6% Total adjusted EBIT1 149.4 140.6 6.3% 22
Slide 23: Profit and Loss Account
Profit and Loss Account Logista | H1 2022 results M€ H1 2022 H1 2021 Δ% Revenues 5,453.8 5,169.1 5.5% Economic sales 597.4 580.2 3.0% (-) Operating cost of logistics networks1 (380.6) (374.4) (1.7)% (-) Commercial operating expenses1 (25.5) (24.0) (6.1)% (-) Operating expenditure on research and cen
Slide 24: Cash Flow Statement
Cash Flow Statement Logista | H1 2022 results M€ H1 2022 H1 2021 Change EBITDA 184.8 173.2 11.6 Restructuring & Other Payments (6.8) (7.6) 0.8 Financial Result 8.7 11.9 (3.2) Normalised Taxes (42.1) (38.8) (3.3) Net Investments (43.3) (16.2) (27.1) Normalised Cash Flow 101.3 122.5 (21.2) Variation i
Slide 25: Balance Sheet
Balance Sheet Logista | H1 2022 results M€ H1 2022 2021 PP&E and other Fixed Assets 322.8 320.6 Net Long-Term Financial Assets 22.5 19.8 Net Goodwill 937.1 920.8 Other Intangible Assets 326.9 354.0 Deferred Tax Assets 12.4 14.5 Net Inventory 1,389.2 1,467.1 Net Receivables 1,852.8 2,150.7 Cash & Cas
Slide 26: Alternative Performance Measures
02 Alternative Performance Measures 26
Slide 27: Alternative Performance Measures (1/6)
Alternative Performance Measures (1/6) Logista | H1 2022 results 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 figur
Slide 28: Alternative Performance Measures (2/6)
Alternative Performance Measures (2/6) Logista | H1 2022 results 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
Slide 29: Alternative Performance Measures (3/6)
Alternative Performance Measures (3/6) Logista | H1 2022 results 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 me
Slide 30: Alternative Performance Measures (4/6)
Alternative Performance Measures (4/6) Logista | H1 2022 results 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
Slide 31: Alternative Performance Measures (5/6)
Alternative Performance Measures (5/6) Logista | H1 2022 results 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
Slide 32: Alternative Performance Measures (6/6)
Alternative Performance Measures (6/6) Logista | H1 2022 results Restructuring costs: are the costs incurred by the Group to increase the operating, administrative and commercial efficiency in our organisation, including the costs related to re-organisation, dismissals and closures or transfers of w