Slide 1: FY 2013 earnings presentation
FY 2013 earnings presentation 26 March 2014
Slide 2: Overview
Overview 1. 2. 3. Strong performance in Full-year 2013 Outlook 2013 results 2 – FY 2013 results – 26 March 2014
Slide 3: 2013 highlights: Strong performance by ID Logistics
2013 highlights: Strong performance by ID Logistics Acquisition of CEPL Deal with strategic benefits in terms of geographical expansion and fit between client portfolios Further evidence of the Group’s ramp-up in detail picking and e-commerce Relutive investment Further organic growth running
Slide 4: Upbeat year for contract logistics
Upbeat year for contract logistics Market estimated to have grown by 2-3% worldwide in 2013 Contract logistics DHL K+N STEF GND ID Logistics Contract logistics as a percentage of total revenues 26.0% 20.0% 21.7% 48.0% 100.0% Reported growth in 2013 revenues -5.3% 4.5% 6.1% 9.4% 31.4% 4 – FY 2013 res
Slide 5: CEPL: a major acquisition for ID Logistics
CEPL: a major acquisition for ID Logistics A successful strategic deal CEPL: a major French player in contract A prestigious portfolio of customers logistics 2013 revenues: €180 million French specialist in highly-automated solutions 27 sites for detail picking Present in 4 countries New b
Slide 6: Strong international momentum: Positions strengthened in Europe
Strong international momentum: Positions strengthened in Europe 14 countries - 3,100,000 sq. m. in warehouse facilities Europe 7,450 empl. 2,300,000 sq. m. South America Asia 4,100 employees 1,000 empl. 600,600 sq. m. 135,700 sq. m. Africa & Indian Ocean 300 empl. 49,000 sq. m. Countries where IDL
Slide 7: An expanded client base
An expanded client base RETAIL (30% of rev.) LUXURY GOODS (13% of rev.) INDUSTRY (30% of rev.) SPECIALISED RETAIL TEXTILES - FOOTWEAR (4% of rev.) E-COMMERCE (4% of rev.) (19% of rev.) 7 – FY 2013 results – 26 March 2014
Slide 8: 2013: Organic growth of 18.5%
2013: Organic growth of 18.5% Four drivers: 1 Positive price/volume effect on existing clients 2 New business for existing clients (incl. in new countries) 3 New clients in existing sectors of activity 4 New clients in new sectors of activity 8 – FY 2013 results – 26 March 2014
Slide 9: Overview
Overview 1. 2. 3. Strong performance in Full-year 2013 Outlook 2013 results 9 – FY 2013 results – 26 March 2014
Slide 10: 2013 performance: Growth and margin improvement
2013 performance: Growth and margin improvement Revenues: another year of strong growth (+31.4%) Current operating margin: further improvement with a gain of +0.9bps to 4.3% Net income tripled Cash flow: strong cash generation from activities at €41.8 million in 2013 Financial structure: i
Slide 11: Strong revenue growth of 31.4% at €735.1 million
Strong revenue growth of 31.4% at €735.1 million International €317.5 million Growth across all geographical regions 43% Significant growth in emerging markets, especially Russia, Argentina, South Africa and Poland France 57% Positions strengthened in Europe €417.6 million (Germany and the Net
Slide 12: Further improvement in operating margins (0.9bps)
Further improvement in operating margins (0.9bps) 2013 2012 (€ m) France Internat. Total France Internat. Total % chg. Underlying operating income 23.0 8.8 31.8 14.0 4.8 18.8 +69.1% +0.9 % of rev. 5.5% 2.8% 4.3% 4.1% 2.2% 3.4% points In France: +1.4bps to 5.5% Positive effect of the shutdown in Ju
Slide 13: 2013: Net income tripled to €13.1 million
2013: Net income tripled to €13.1 million (0,3) (2,6) Dep. (1,4) customer relationships Advisors’ acquired costs linked (5,2) to CEPL Costs rel. to acquisition restructuring of CEPL Net financial (4,3) income/ (exp.) (5,0) 13,1 M€ 0,1 CVAE business tax Income tax Equity associates 4,6 M€ * Current N
Slide 14: Strong cash generation during the year
Strong cash generation during the year (€ m) 2013 2012 Strong level of cash generated by Cash generated by operating activities operating activities (€41.8 million) 41.3 22.4 before WCR and capex Change in the WCR 16.2 (1.0) Improvement of the operating margin Capex (15.7) (22.0) Cash generated by
Slide 15: Solid financial structure following the acquisition of CEPL
Solid financial structure following the acquisition of CEPL o/w 31 Dec. addition of (€ m) 31 Dec. 2013 2012 % chg. CEPL Goodwill 121.2 60.6 60.6 60.6 Other non-current assets 161.8 82.2 79.6 88.0 Non-current assets 283.0 142.8 140.2 148.6 Working capital requirement (105.5) (56.7) (48.8) (33.0) Unde
Slide 16: Tight grip on financial debt
Tight grip on financial debt Maturing Maturing Maturing Maturing (€ m) 31 Dec. 2013 in 2014 in 2015 in 2016 > 2016 Acquisition debt 75.0 12.5 12.5 12.5 37.5 Real estate leases 50.5 6.3 6.6 6.8 30.8 Equipment leasing 23.7 10.2 7.1 4.1 2.3 Other borrowings 4.0 2.0 2.0 - - Gross financial debt 153.2 31
Slide 17: Investment capacity preserved
Investment capacity preserved 2013 2012 €66.6 million in net cash Gearing available 94.1% 12% (Net debt/Equity) Leverage (Net debt/EBITDA) 1.7x 0.3x Gearing below 100% ROCE (Current op. income/Capital 19.7% 21.8% Leverage ratio cut to below employed) 2x 17 – FY 2013 results – 26 March 2014
Slide 18: Overview
Overview 1. 2. 3. Strong performance in Full-year 2013 Outlook 2013 results 18 – FY 2013 results – 26 March 2014
Slide 19: Track record of growth
Track record of growth 2013: a turning point RETAIL + SPECIALISED RETAIL + INDUSTRY + SELECTIVE RETAIL + E-COMMERCE Strong organic growth CAGR 735.1 +20% Strategic acquisition 559.6 43 % of rev. New technical expertise 462 outside France gained 386.2 39 299.8 309.8 35 European position 34 27
Slide 20: Growth strategic drivers
Growth strategic drivers Move up New the value clients chain Geographical expansion 20 – FY 2013 results – 26 March 2014
Slide 21: Example of moving up the value chain: Partnership with Evian Volvic World
Example of moving up the value chain: Partnership with Evian Volvic World (DANONE GROUP UNIT DISTRIBUTING THE EVIAN, VOLVIC, BADOIT AND SALVETAT MINERAL WATER BRANDS) Creation of a next-generation monitoring hub, combining rail and road transportation Investment of close to one million euros dedicat
Slide 22: ID Logistics: A group well-positioned in 2014
ID Logistics: A group well-positioned in 2014 Enter 2014 in good conditions despite uncertain environment Expansion outlook in a larger range of activities – Leverage on technical expertise and expanded client base – Continue to pursue growth across all of ID Logistics’ areas of expertise Severa