Logista Integral, S.a. · BME:LOG
Logista Integral — H1 2025 Earnings Presentation
32 slides from Logista Integral's earnings presentation, May 9, 2025
Slide 1: Results Presentation H1-2025
Results Presentation H1-2025 1 October 2024 - 31 March 2025 May 9th, 2025
Slide 2: Disclaimer
Disclaimer > This document has been prepared by Logista Integral, S. A. (“Logista” 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 shares of the Company, nor any advice or reco
Slide 3: Key Highlights for the Period
Key Highlights for the Period
Slide 4: Key Highlights
Key Highlights 01 Robust Financial Performance 02 Relevant profit on inventory for the period 03 Optimizing M&A 04 Continuous commitment towards ESG
Slide 5: Key Highlights – Financial Performance
Key Highlights – Financial Performance Economic Sales per Region (% vs. H1-2024) 6,425 M€ Iberia 916 M€ 202M€ 606 M€ 46 M€ +6% 156 151 Italy M€ M€ 213 M€ 4% 6% 5% (5%) +12% France Revenues Economic Sales Adjusted EBIT Net Profit 101 M€ (9%) Year on year growth backed by a strong profit on inventory
Slide 6: Key Highlights – Profit on Inventory
Key Highlights – Profit on Inventory Special Tax increases ▪ Spain • First significant increase in tobacco special taxes for years (small increases in 2022 and 2023) +83%1 • New taxes on NGP products (HnB, Liquids, Disposables, Nicotine Pouches) • Tax increase for cigarettes equivalent to c. 0.20€/p
Slide 7: Key Highlights – Optimizing M&A
Key Highlights – Optimizing M&A Leadership New management in place to lead the Company. Measures implemented Compliance and Control since acquiring 100% Implement Logista’s control measures, and compliance procedures within ownership of the Mosca’s daily operations. company Improve quality of data t
Slide 8: Key Highlights – H1-2025 Sustainability plan update
Key Highlights – H1-2025 Sustainability plan update FY2023 FY2024 H1-2025 Target FY2026 ENVIRONMENTAL KMs rolled by sustainable fleet1 82% 85% 85% 90% NGP recycling PoS 0 30,950 32,425 33,800 Talent Density in Critical Positions 92% 93% 92% 95% SOCIAL women in upper and middle 27.0% 27.2% 30.6% 30.0
Slide 9: Business Overview
Business Overview
Slide 10: Iberia
Iberia Tobacco & Related Transport Pharma Other Businesses ▪ Total tobacco1 volume in Spain & ▪ Long Distance transport has ▪ 13% Eco Sales growth in ▪ Reduction in volumes Portugal of +0.3% yoy2 suffered from a European demand Pharma supported by new distributed leading to a ▪ Change in Inventories
Slide 11: Italy
Italy Tobacco Distribution Related Products Pharma ▪ Total tobacco1 volume -2.3% yoy2 ▪ Recycle-Cig: increase in tobacconists ▪ Continue organic growth with new ▪ Change in Inventories Value3 of 8.5M€ around the country having joined the laboratories after change in taxes and in tobacco prices initi
Slide 12: France
France Tobacco Distribution Related Products ▪ Total tobacco1 volume fall of -12% yoy2 ▪ Continuous growth in the electronic ▪ Change in Inventories Value3 of 4M€ after transactions’ business (E-Money). change in taxes and increases of tobacco ▪ Increase in the number of tobacconists prices in Franc
Slide 13: Main Financials
Main Financials
Slide 14: Main Financials – Adjusted EBIT Bridge
Main Financials – Adjusted EBIT Bridge (M€, yoy1%) +5% Economic Sales ▪ Positive performance in all major activities in Iberia and Italy ▪ Relevant Profit on inventory driven by the changes in tobacco pricing and tax increases in all three regions Adjusted EBIT ▪ 5% yoy1 growth driven by increase in
Slide 15: Main Financials – Net Profit Bridge
Main Financials – Net Profit Bridge (M€, yoy1%) Financial Results ▪ +29M€ financial income vs. 48M€ last year as a result of lower interest (5%) rates ▪ Average interest rate for the period of 3.03% + spread of 0.75% (vs. 4.50% average + 0.75% for H1-2024) Taxes ▪ Effective tax rate of 25.8% vs. 25.
Slide 16: Main Financials – Normalized FCF Bridge
Main Financials – Normalized FCF Bridge (M€) EBITDA ▪ Positive performance during the period led to a 6% increase in EBITDA compared to the same period of the previous year. Financial Results ▪ +33M€ financial income collected vs. 52M€ last year given the lower interest rates during the period Restr
Slide 17: Closing Remarks
Closing Remarks
Slide 18: Closing Remarks
Closing Remarks 01 Robust financial performance supported by a strong profit on inventory 02 Implementing measures to improve operating results within acquired companies 03 ESG commitment executed through our 2024-2026 sustainability plan 04 52% of Economic Sales comes from non-tobacco businesses th
Slide 19: 2025 Outlook
2025 Outlook 1 Following the diversification strategy Logista will continue to seek small and mid-size acquisitions looking for geographical and business diversification 2 Maintaining the dividend policy remains a priority 3 Commitment to distribute at least the same dividend distributed during 2024
Slide 20: Appendix
Appendix & Logista |
Slide 21: Appendix. Revenues Evolution (By segment and activity)
Appendix. Revenues Evolution (By segment and activity) M€ H1 2025 H1 2024 Δ% Iberia 2,467 2,263 9.0% Tobacco and related products 1,966 1,788 9.9% Transport 455 440 3.3% Pharmaceutical distribution 157 134 17.3% Other businesses 9 10 (4.3)% Adjustments (120) (109) (10.4)% Italy 2,239 2,145 4.4% Toba
Slide 22: Appendix. Economic Sales Evolution (By segment and activity)
Appendix. Economic Sales Evolution (By segment and activity) M€ H1 2025 H1 2024 Δ% Iberia 606 569 6.4% Tobacco and related products 217 193 12.5% Transport 372 361 2.9% Pharmaceutical distribution 55 49 13.2% Other businesses 9 9 (3.9)% Adjustments (47) (43) (10.1)% Italy 213 190 12.1% Tobacco and o
Slide 23: Appendix. Adjusted EBIT Evolution (By segment)
Appendix. Adjusted EBIT Evolution (By segment) M€ H1 2025 H1 2024 Δ% Iberia 107 109 (1.4)% Italy 68 54 27.3% France 26 31 (13.8)% Total Adjusted EBIT 202 193 4.6% 23
Slide 24: Appendix. Profit & Loss Account
Appendix. Profit & Loss Account M€ H1 2025 H1 2024 Δ% Revenues 6,425 6,206 3.5% Economic sales1 916 867 5.6% (-) Operating cost of logistics networks1 (627) (591) (6.0)% (-) Commercial operating expenses1 (36) (33) (6.7)% (-) Operating expenditure on research and central offices1 (51) (49) (3.8)% To
Slide 25: Appendix. Cash Flow Statement
Appendix. Cash Flow Statement M€ H1 2025 H1 2024 Change EBITDA 261 246 15 Restructuring and other payments (5) (10) 5 Net financial income/(expense) 33 52 (18) Normalised taxes (59) (60) 1 Investment (28) (25) (4) Rent payments (37) (33) (4) Normalised Cash Flow 164 170 (5) Change in working capital
Slide 26: Appendix. Balance Sheet
Appendix. Balance Sheet M€ Mar-2025 Sept.-24 Property, plant and equipment and other fixed assets 498 484 Net long-term financial investments 33 32 Net goodwill 1,012 1,012 Other intangible assets 232 262 Deferred tax assets - - Net inventory 1,826 1,824 Net receivables and other 2,029 2,003 Cash an
Slide 27: 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 28: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures 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 Group’s operating costs and m
Slide 29: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Adjusted EBIT margin over Economic Sales: calculated as Adjusted EBIT 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 profitability obtained by the Group’
Slide 30: 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 31: 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 32: Your partner along the way, all the way
Your partner along the way, all the way