Slide 1: Logista 2021 results
05.11.2021 Logista 2021 results 010
Slide 2: Disclaimer
Disclaimer Logista | 2021 results • This document has been prepared by the 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 purch
Slide 3: 2021 highlights
Logista | 2021 results 1 2021 highlights 2 Business review 3 Financial review 4 Outlook
Slide 4: Back to growth, offsetting impacts of COVID-19
Back to growth, offsetting impacts of COVID-19 Logista | 2021 results Adapting to Re-orienting the new business reality • Economic Sales +6% • EBIT +13% • Net Profit of Continuing Operations +17% • Net Profit +11% Supporting Managing our costs customers • Outstanding performance, despite impact of p
Slide 5: Improvements in ESG agenda recognised by independent rating firms
Improvements in ESG agenda recognised by independent rating firms Logista | 2021 results • First requested Sustainalytics score in September 2021: Low ESG Risk Rating, ranking 3/75 Air Freight & Logistics sub-industry • Working with our supply chain to drive action on the environment • Logista recog
Slide 6: After COVID-19 disruption
After COVID-19 disruption Logista | 2021 results • Resuming initial agenda, higher growth ambition being a priority • Parcel transport (Nacex): increasing B2C offer to capture e-commerce business from manufacturers • Long-distance transport: classed as core business, differentiation strategy through
Slide 7: Strategic focus: diversification and growth acceleration
Strategic focus: diversification and growth acceleration Logista | 2021 results • Current profitable, resilient business base to continue • Expanding activities will accelerate transition to growth profile • Additional avenues for growth offsetting tobacco volumes decline 7
Slide 8: M&A will support growth agenda
M&A will support growth agenda Logista | 2021 results • Strong balance sheet: room for investment while preserving dividend payment • Preference for one-at-a-time small/medium-sized deals, reducing risks in execution • Primary targets: non-tobacco-related • Complementing capacities in current busine
Slide 9: Business review
2 Business review Logista | Title Presentation 9
Slide 10: Changes in reporting
Changes in reporting Logista | 2021 results • Separate reporting of Logista Pharma, Revenues and Economic Sales • Our subsidiary Supergroup (Other businesses in France) classified as held for sale, net result reported in Results of discontinued operations. • Corporate & Others: o Headquarters costs
Slide 11: Robust results despite COVID-19
Robust results despite COVID-19 Logista | 2021 results +14 298 +14 +7 263 Adj.EBIT Inventories’ COVID-19 Regular Adj. EBIT 2020* valuation impact operations 2021 differential differential 11 All data in M€, unless otherwise stated * Re-expresed to reflect Supergroup’s results as discontinued operati
Slide 12: Iberia
Iberia Logista | 2021 results • Tobacco distribution: 4.4% Volumes* down 0.8%, weak foreign tourism Value-added services contributing to offset reduction of volumes 6.9% Inventories’ valuation: higher positive impact 3,325 19.3% 634 • Convenience distribution: 134 Higher penetration, new cha
Slide 13: France
France Logista | 2021 results (3.0)% • Tobacco distribution: 0.2% 3,983 1.4% Volumes* down 3.7%, cross-border sales re-started 225 Value-added services partially offsetting regularization of tariffs in 2020 66 Inventories’ valuation: lower negative impact Revenues Econ. Sales Adj. EBIT • Conve
Slide 14: Italy
Italy Logista | 2021 results 12.3% • Tobacco distribution: 6.5% 3,556 14.0% Volumes* up 2.7% mainly from NGPs 325 Value-added services growing for NGPs 98 Inventories’ valuation: higher positive impact Revenues Econ. Sales Adj. EBIT • Convenience distribution: ECONOMIC SALES Double-digit gro
Slide 15: Proposed dividend
Proposed dividend Logista | 2021 results • Very positive operating performance in the year • Very solid financial position • Board commitment to high pay-out ratio • Willingness to keep dividend payments stable or growing in absolute terms Total dividend 2021: 1.24 € per share (+5.1%) 15
Slide 16: Financial review
3 Financial review Logista | Title Presentation 16
Slide 17: Positive activity performance
Positive activity performance Logista | 2021 results REVENUES +3.9% 10,817 • Revenues grew in main activities: Tobacco distribution in Spain and 10,408 Italy, distribution of convenience products in all geographic areas, Transport and Pharma, in Spain FY 2020 FY 2021 ECON. SALES +5.6% • Positive per
Slide 18: Significant cost management, operating margin improvement
Significant cost management, operating margin improvement Logista | 2021 results ADJ. EBIT +13.2% • Total operating costs up by 3.2% 298 263 • Efficiency measures, savings programme FY 2020 FY 2021 25,2% 23,5% EBIT +12.8% 2020 2021 • Lower restructuring cost (2 M€) Ec. Sales Op. costs Adj. EBIT Marg
Slide 19: Net profit growth harmed by discontinued operations
Net profit growth harmed by discontinued operations Logista | 2021 results +10.7% 27 8 (7) (11) 174 157 Net profit EBIT Financial Taxes Discontinued Net profit FY 2020 results operations FY 2021 • Financial income up: interest on excessive advance payments of income tax in Spain after Constitutional
Slide 20: The year's changes in cash position
The year's changes in cash position Logista | 2021 results 5.000 4.500 4.000 3.500 • Seasonality driving cash position to its peak 3.000 towards year-end 2.500 • Temporary change in tax payment cycle in 2.000 France and Italy (COVID-19) already finished 1.500 • Dividend payments during FY2021: 158 M
Slide 21: Investments
Investments Logista | 2021 results Maintenance 26% Maintenance Infrastructure 19% 43% Infrastructure 44% IT/Technology IT/Technology 31% 37% TOTAL INVESTMENTS FY2021: 36 M€ TOTAL INVESTMENTS FY2020: 33 M€ • Approximately 1/3 of total investment dedicated to IT/Technology 21
Slide 22: Cash generation
Cash generation Logista | 2021 results 20 (97) 370 (34) 259 EBITDA Interest Restructuring & Net Normalised FY2021 Normalised Taxes investments Free Cash Flow • EBITDA growth reflecting positive activity performance • Lower capex and higher interest received offset increased restructuring costs and n
Slide 23: Dividend policy
Dividend policy Logista | 2021 results Total dividends paid since IPO: c. 985M€ 164M€ 156M€ 156M€ 149M€ 139M€ 119M€ 98M€ FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 PAY-OUT RATIO >90% >90% >90% >95% >95% >99% 95% 23
Slide 24: Share price performance in FY2021
Share price performance in FY2021 Logista | 2021 results 150 140 130 120 110 100 90 30/09/20 31/10/20 30/11/20 31/12/20 31/01/21 28/02/21 31/03/21 30/04/21 31/05/21 30/06/21 31/07/21 31/08/21 30/09/2 LOGISTA IBEX IBEX MEDIUM CAP IBEX TOP DIVIDEND LOGISTA IBEX IBEX MEDIUM CAP IBEX TOP DIVIDEND +24,7%
Slide 25: Financial Review: Conclusions
Financial Review: Conclusions Logista | 2021 results Shareholders’ remuneration via dividend Robust Economic Cash Flow profile Highly resilient business model focusing on growth 25
Slide 26: Outlook & final remarks
4 Outlook & final remarks Logista | Title Presentation 26
Slide 27: New brand entity
New brand entity Logista | 2021 results A design that symbolizes Logista’s evolution 27
Slide 28: Outlook 2022
Outlook 2022 Logista | 2021 results Adj. EBIT, mid-single-digit organic growth • Business performance 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 opportunitie
Slide 29: Appendix
01 Appendix Logista | 2021 Results 29
Slide 30: Revenues Evolution by segment and activity
Revenues Evolution Logista | 2021 results By segment and activity M€ FY 2021 FY 2020 Δ% Iberia 3,325.3 3,183.8 4.4% Tobacco and related products 2,875.6 2,780.9 3.4% Transport 411.3 385.4 6.7% Pharmaceutical distribution 180.8 144.6 25.0% Other businesses 18.2 18.2 (0.1)% Adjustments (160.6) (145.3)
Slide 31: Economic Sales Evolution by segment and activity
Economic Sales Evolution Logista | 2021 results By segment and activity M€ FY 2021 FY 2020 Δ% Iberia 634.3 593.5 6.9% Tobacco and related products 303.2 292.9 3.5% Transport 290.5 271.7 6.9% Pharmaceutical distribution 83.2 69.3 20.1% Other businesses 17.4 17.2 0.8% Adjustments (60.0) (57.6) (4.2)%
Slide 32: Adjusted EBIT Evolution by segment
Adjusted EBIT Evolution Logista | 2021 results By segment M€ FY 2021 FY 2020 Δ% Iberia 133.5 111.9 19.3% France 65.6 64.7 1.4% Italy 98.5 86.3 14.0% Total adjusted EBIT1 297.5 262.9 13.2% 32
Slide 33: Profit and Loss Account
Profit and Loss Account Logista | 2021 results M€ FY 2021 FY 2020 Δ% Revenues 10,816.8 10,407.7 3.9% Economic sales 1,179.5 1,117.2 5.6% (-) Operating cost of logistics networks1 (750.0) (724.4) (3.6)% (-) Commercial operating expenses1 (47.5) (47.6) 0.3% (-) Operating expenditure on research and ce
Slide 34: Balance Sheet
Balance Sheet Logista | 2021 results M€ FY 2021 FY 2020 PP&E and other Fixed Assets 320.6 373.3 Net Long-Term Financial Assets 19.8 19.2 Net Goodwill 920.8 920.8 Other Intangible Assets 354.0 408.1 Deferred Tax Assets 14.5 18.7 Net Inventory 1,467.1 1,294.3 Net Receivables 2,150.7 1,985.7 Cash & Cas
Slide 35: Alternative Performance Measures
02 Alternative Performance Logista | 2021 Results Measures 35
Slide 36: Alternative Performance Measures (1/6)
Alternative Performance Measures (1/6) Logista | 2021 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 figure i
Slide 37: Alternative Performance Measures (2/6)
Alternative Performance Measures (2/6) Logista | 2021 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 th
Slide 38: Alternative Performance Measures (3/6)
Alternative Performance Measures (3/6) Logista | 2021 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 measu
Slide 39: Alternative Performance Measures (4/6)
Alternative Performance Measures (4/6) Logista | 2021 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 by
Slide 40: Alternative Performance Measures (5/6)
Alternative Performance Measures (5/6) Logista | 2021 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 he
Slide 41: Alternative Performance Measures (6/6)
Alternative Performance Measures (6/6) Logista | 2021 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 ware