Slide 1: Full-year 2012 results presentation
Full-year 2012 results presentation
Slide 2: Contents
Contents 1. ID Logistics, France’s leader in contractual logistics 2. 2012 highlights 3. FY 2012 results 4. 2013 outlook 5. Appendix 2 FY 2012 results, 26 March 2013
Slide 3: What is contractual logistics?
What is contractual logistics? Long-term contract between an Optimize the supply-chain industrial or a retailer and a logistics contractor, to provide end- Allocate the right products to the right to-end specific solutions, which location at the best price will ensure the optimization of its supply-
Slide 4: ID Logistics, a pure player in contract logistics
ID Logistics, a pure player in contract logistics … 4 Full-year 2012 results, 26 March 2013
Slide 5: A strong footprint in emerging markets
… with a strong footprint in emerging markets Europe 5,250 1,771,000 m² Asia 550 107,000 m² Latin America 4,100 579,000 m² Africa & Indian Ocean 250 56% of our logistics contracts cover 52,000 m² customer operations in at least two countries 5 Full-year 2012 results, 26 March 2013
Slide 6: ID Logistics: a diversified customer base
ID Logistics: a diversified customer base Retail (65% of revenue) Manufacturing (30% of revenue) e-commerce Home (5% of Processed revenue) Supermarkets DIY appliances and Other Fresh food Non-food food electronics 6 Full-year 2012 results, 26 March 2013
Slide 7: Contract logistics positioning in its environment
Contract logistics positioning in its environment Transport & logistics market Mail & parcel delivery Freight-forwarding Land transport Contract logistics Multi-service global leaders Incumbent national players Integrated transport & logistics companies Pure players Full-year 2012 results, 26 March
Slide 8: Contract logistics: a growing market
Contract logistics: a growing market Worth some € 200 billion globally in 2011 of which €8.5 billion in France alone, with 3.3% average annual growth expected for 2012-2015* Strong growth in emerging markets Outsourcing rate still low (30% to 45% depending on the country) *Sources: Xerfi, Insee, and
Slide 9: Contents
Contents 1. ID Logistics, France’s leader in contractual logistics 2. 2012 highlights 3. FY 2012 results 4. 2013 outlook 5. Appendix 9 Full-year 2012 results, 26 March 2013
Slide 10: 2012, a dynamic year for ID Logistics
2012, a dynamic year for ID Logistics > Strong organic growth – Development of automated retail order fulfillment > Strengthening of the e-commerce business unit Privileged access to Colipost – Acquisition of France Paquets (December 2012) network 30 clients in e-commerce stamping and delivery > Exp
Slide 11: Sustained organic growth
Sustained organic growth Over a decade of robust revenue growth Increasing % of international revenue 560 462 39% of CAGR 386 revenue 218.8 35% 163.4 300 310 275 132.8 27% of 81.9 96.1 revenue 175 340.8 125 298.6 253.4 95 217.9 213.7 75 50 20 2008 2009 2010 2011 2012 2001 2002 2003 2004 2005 2006 20
Slide 12: A proven growth strategy
A proven growth strategy Four growth FRANCE INTERNATIONAL NEW COUNTRIES drivers Positive price/volume 1 effect with existing customers New contracts from 2 existing customers New customers in 3 existing sectors (retail or manufacturing) New customers in new 4 sectors Cash 12 Full-year 2012 results,
Slide 13: Contents
Contents 1. ID Logistics, France’s leader in contractual logistics 2. 2012 highlights 3. FY 2012 results 4. 2013 outlook 5. Appendix 13 Full-year 2012 results, 26 March 2013
Slide 14: Positive momentum fuelled by organic growth
Positive momentum fuelled by organic growth > Existing scope – Embedded growth – Long-term contracts offer good visibility Organic > New contracts – Profitability: growth • Follows a J curve • Peaks at end of Year 2 = – Investment: • CapEx at the beginning of the Ongoing contract positive momentum >
Slide 15: A resilient and efficient business model
A resilient and efficient business model > Revenue: prices and volumes – Based on the volume of goods stored or handled – Main costs are linked to indices (real estate prices and inflation) – Fairly insensitive to the value of goods stored or handled > Cost structure can adapt to changing volumes –
Slide 16: Excellent financial performance in 2012
Excellent financial performance in 2012 > 21.1% jump in revenue to €559.6 million – Market share gains in France – Buoyant business in emerging markets > Further improvement in profitability – 27% increase in recurring operating income to €18.8 million – A 20 basis point rise in the recurring operat
Slide 17: Strong increase in revenue up 21.6% (y-o-y)
Strong increase in revenue up 21.6% (y-o-y) million € 2012 2011 Δ Like-for-like* The Mory Logidis and France Revenue 559.6 462.0 21.1% 21.6% Paquets acquisitions offset the closure of the fruit & vegetable groupage France 340.8 299.0 14.0% 13.4% International 218.8 163.0 34.2% 35.5% *At constant sco
Slide 18: 27% increase in recurring operating income
27% increase in recurring operating income 2012 2011 million € 2012 2011 Δ adjusted* adjusted* Δ Recurring operating 18.8 14.8 27% 20.7 16.8 23% income As % of revenue 3.4% 3.2% 20 bps 3.7% 3.8% -10 bps France 14.0 11.2 25% 15.9 13.2 20% As % of revenue 4.1% 3.7% 40 bps 4.7% 4.7% 0 bps International
Slide 19: €4.6 million net profit impacted by restructuring costs
€4.6 million net profit impacted by restructuring costs Closure of the fruit & vegetable groupage €3.2m business tax 6,4 (French tax on added value) €1.6m income tax 3,1 18,8 €10.1m net income excluding fruit & 4,8 vegetable 12,4 groupage 0,1 4,6 Underlying operating Non-current expenses Operating p
Slide 20: Careful cash flow management
Careful cash flow management million € 2012 2011 Δ Free cash flow 27.5 4.7 N/A Including: Recurring operating income 18.8 14.8 27% ΔOperating WCR (3.6) (4.0) -10% ΔNon-operating WCR 2.6 8.0 -67% Non-recurring CapEx (19.6) (17.3) 13% items: - Closure of the fruit & Restructuring costs (4.4) - N/A veg
Slide 21: A solid balance sheet
A solid balance sheet 2012 2011 Gearing 12% 72% (Net debt/Equity) Leverage 0.3 1.2 (Net debt/EBITDA) Interest coverage 7.5 4.9 (Rec. Op. Income/Net interest expense) ROCE 14.0% 11.7% (Taxed Rec. Op. Income/Capital employed) > Sharp reduction in gearing following the IPO > Enough capital on-hand to f
Slide 22: 2012 in short: promises kept
2012 in short: promises kept > Strong organic growth of 21.6% > Stable operating margins despite the start-up of several new projects > Expansion into new sectors > Expansion into new countries > Exit from loss-making businesses > Higher ROCE 22 Full-year 2012 results, 26 March 2013
Slide 23: Contents
Contents 1. ID Logistics, France’s leader in contractual logistics 2. 2012 highlights 3. FY 2012 results 4. 2013 outlook 5. Appendix 23 Full-year 2012 results, 26 March 2013
Slide 24: Promising outlook for 2013
Promising outlook for 2013 > A geographical positioning allowing reasonable optimism for 2013 > High visibility thanks to embedded growth > On-going sales momentum > Strong revenue growth > On the watch for acquisition opportunities 24 Full-year 2012 results, 26 March 2013
Slide 25: Go Sport: End-to-end order fulfillment solution
Go Sport: End-to-end order fulfillment solution > Signature in February 2013 with Go Sport of a long-term contract to take over the group’s logistics on a 50 000 sqm site in Picardie > Design a complete turn-key fulfillment solution – Installing next-generation logistics software – Setting up a nove
Slide 26: Danone in South Africa: a new location
Danone in South Africa: a new location > October 2012 : Take-over logistics activities on the Johannesburg production site – Take-over staff – Reengineering of the warehouse – Change in IT system > 2013 : take-over of 3 regional warehouses and organisation of the primary transport > High potential c
Slide 27: In summary: ID Logistics is well-positioned for the medium-term
In summary: ID Logistics is well-positioned for the medium-term > Solid base of long-term contracts with a favourable price/volume profile > Opportunities with large companies that are increasingly outsourcing supply chain management > Expansion into new industrial sectors > Capacity to support cust
Slide 28: Contents
Contents 1. ID Logistics, France’s leader in contractual logistics 2. 2012 highlights 3. FY 2012 results 4. 2013 outlook 5. Appendix 28 Full-year 2012 results, 26 March 2013
Slide 29: 2012 consolidated income statement
2012 consolidated income statement (million €) 2012 2011 2010 Revenue 559.6 462.0 386.2 Purchases and external expenses (284.8) (233.4) (199.5) Personnel costs (232.1) (193.8) (155.9) Other income and expenses (9.8) (5.9) (5.5) EBITDA 33.0 5.9% 28.9 6.3% 25.3 6.6% Depreciation and amortisation (14.2
Slide 30: 2012 consolidated cash flow statement
2012 consolidated cash flow statement (million €) 2012 2011 2010 Cash flow from operating activities, excluding WCR 22.3 25.5 22.5 ΔWCR (1.0) 4.1 9.5 Cash flow from operating activities 21.4 29.6 32.0 Cash flow from investing activities (19.6) (17.3) (44.0) Net financial expense (2.6) (3.0) (3.5) Ot
Slide 31: 2012 summary consolidated balance sheet
2012 summary consolidated balance sheet (million €) 31 Dec. 2012 31 Dec. 2011 31 Dec. 2010 Non-current assets 142.8 133.5 131.4 Trade receivables 94.9 80.9 62.4 Trade payables (74.9) (63.4) (49.5) Tax and social security liabilities (78.7) (72.7) (62.5) Net other receivables 2.0 2.5 1.3 Net working
Slide 32: Bios
Bios > Eric Hémar, Chairman and Chief Executive Officer Eric Hémar, 49, graduated from France’s prestigious École Nationale d’Administration and started his career at the French National Audit Office (Cour des Comptes). In 1993 he was appointed technical advisor to the French Minister of Transport,