Slide 1: Results Presentation H1-2023
Results Presentation H1-2023 May 5th, 2023
Slide 2: Disclaimer
Disclaimer > 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 purchase, sale or exchange of sh
Slide 3: Key Highlights
Key Highlights
Slide 4: H1-2023 Key Highlights
H1-2023 Key Highlights Good Financial Performance1 1. Economic Sales of 834M€ +40% YoY 01 2. Adj. EBIT of 183M€ + 23% YoY 3. Net Profit of 126M€ + 43% YoY Integration of the 3 acquisitions 1. Speedlink 02 2. Carbó Collbatallé 3. Transportes El Mosca Strong Commitment towards ESG 1. Reaffirmation of
Slide 5: H1-2023 Key Highlights – Financial Performance
01 H1-2023 Key Highlights – Financial Performance Financial Highlights Key Financial Highlights1 (H1-2023 M€,YoY1%) > Revenues of 5,935M€ +9% YoY > Strong increase in Economic Sales up to 834M€ +40% YoY +9% Iberia: 548M€ +62% YoY 5,935 Italy: 177M€ +13% YoY +40% France: 111M€ +5% YoY 834 > Adjusted
Slide 6: H1-2023 Key Highlights – Acquisitions Integration
02 H1-2023 Key Highlights – Acquisitions Integration ➢ Integration with Courier business since February ➢ Integration with Parcel Business since October 1st, ➢ Integration with Long-Distance Haul Business 16th, 2022 2022 since October 28th, 2022 ➢ Business Line: ➢ Business Line: ➢ Business Line: B2B
Slide 7: H1-2023 Key Highlights – Strong ESG Commitment
03 H1-2023 Key Highlights – Strong ESG Commitment Strong ESG commitment widely recognised > Logista is member of different ESG indices (FTSE4Good IBEX, IBEX Gender Equality, Bloomberg GEI) > Logista reinforces its position, reaching top positions in different ESG ratings (MSCI, CDP, Sustainalytics,
Slide 8: Business Overview
Business Overview
Slide 9: Iberia Financial Highlights
Iberia Financial Highlights ❖ Tobacco Distribution ▪ Total tobacco volume2 distributed stable thanks to a strong increase in NGP volumes which compensates a 1% decrease in traditional tobacco volume Iberia Financial Highlights ▪ Change in Inventories Value of 22.5M€ after change in tobacco prices in
Slide 10: Italy Financial Highlights
Italy Financial Highlights ❖ Tobacco Distribution Italy Financial Highlights ▪ Total tobacco volume2 distributed increased by c. 2% backed by a strong increase of (H1-2023 M€, YoY1 %) NGP products which offset a 1% decrease in traditional tobacco distribution ▪ Change in Inventories Value of -2.6M€
Slide 11: France Financial Highlights
France Financial Highlights ❖ Tobacco Distribution France Financial Highlights ▪ Total tobacco volume2 distributed declined by 4.6% (H1-2023 M€,YoY1%) ▪ Strong increase in electronic cigarettes distribution ▪ Accretive change in Inventories Value of 3.9M€ after tax increase effective as of March 1st
Slide 12: Main Financials
Main Financials
Slide 13: Main Financials. Adj. EBIT
Main Financials. Adj. EBIT Adj. EBIT(M€,YoY1%) Economic Sales 236 ▪ Positive performance in all major activities in Iberia, Italy and France ▪ Strong contribution coming from new acquisitions in Iberia +23% ▪ Profit on inventory driven by the changes in tobacco pricing and taxes 183 Adjusted EBIT (1
Slide 14: Main Financials. Net Profit
Main Financials. Net Profit Financial Results Net Profit (M€,YoY1%) ▪ +29M€ financial income vs.9M€ last year thanks to the increase in interest rates +43% ▪ Average European Central Bank interest rate for the period of 2.3% + spread of 0.75% 11 126 18 (8) (2) Taxes 18 ▪ Effective tax rate of 25.6%
Slide 15: Main Financials. Free Cash Flow
Main Financials. Free Cash Flow EBITDA Normalized Free Cash Flow1 (M€) ▪ Positive performance during the period for the organic business plus the consolidation of the acquisitions led to a 27% increase in EBITDA compared to the same period of the previous year. 28 235 Financial Results ▪ +28M€ finan
Slide 16: Closing Remarks & Outlook
Closing Remarks & Outlook
Slide 17: Closing Remarks
Closing Remarks > Logista is completing the full integration of the latest acquisitions > Actively working on implementing synergies between the different businesses, which will continue to reflect in Logista’s accounts in the coming months and years > Following Logista’s strategy we continue to loo
Slide 18: Outlook
Outlook 1 Expected sustainable growth for recurring business 2 Strong contribution of the new acquisitions 3 Relevant profit on inventory of which most has already been recorded in the first semester Strong Performance allows for Guidance increase: FY 2023 Adjusted EBIT is expected to grow around 14
Slide 19: Appendix
Appendix
Slide 20: Revenues Evolution (By segment and activity)
Appendix. Revenues Evolution (By segment and activity) M€ H1 2023 H1 2022 Δ% MIberia € 2,112.7 FY 20221,750.9 FY 2021 20.7% % Iberia 3,742.9 3,325.3 12.6% Tobacco and related products 1,669.1 1,504.4 10.9% Tobacco and related products 3,251.1 2,875.6 13.1% Transport Transport 416.3 457.5 220.6 411.
Slide 21: Economic Sales Evolution (By segment and activity)
Appendix. Economic Sales Evolution (By segment and activity) M€ H1 2023 H1 2022 Δ% Iberia M€ 547.8 337.4 FY 2022 FY 2021 62.3% % Iberia 692.1 634.3 9.1% Tobacco and related products 190.5 160.0 19.1% Tobacco and related products 332.0 303.2 9.5% Transport Transport 336.4 318.1154.7 290.5 117.5% 9.5
Slide 22: Adjusted EBIT Evolution (By segment)
Appendix. Adjusted EBIT Evolution (By segment) M€ H1 2023 H1 2022 Δ% Iberia 104.4 FY 2022 77.4FY 2021 34.9% % Italy 49.7 153.9 46.7 133.5 6.5% 15.2% France 29.0 101.2 25.3 98.5 14.6% 2.8% Total adjusted EBIT 183.1 57.4 149.4 65.6 22.6% (12.5)% Total adjustments EBIT 1 312.4 297.5 5.0% H1-2023 Resul
Slide 23: Profit & Loss Account
Appendix. Profit & Loss Account M€ H1 2023 H1 2022 Δ% Revenues 5,935.4 5,453.8 8.8% Economic sales 833.8 597.4 39.6% (-) Operating cost of logistics networks1 (570.8) (380.6) (50.0%) (-) Commercial operating expenses1 (33.4) (25.5) (31.0%) (-) Operating expenditure on research and central offices1 (
Slide 24: Cash Flow Statement
Appendix. Cash Flow Statement M€ H1 2023 H1 2022 Change EBITDA M€ 235.2 FY 2022 FY184.8 2021 50.4 CHANGE EBITDA Restructuring and other payments 383.3 (5.0) 370.4 (27.8) 12.922.8 Restructuring & Other Payments (37.3) (19.5) (17.8) Net financial income/(expense) 28.2 8.7 19.5 Financial Result 19.2 20
Slide 25: Balance Sheet
Appendix. Balance Sheet M€ March 2023 September 2022 M€ 3 0 September 2022 3 0 September 2021 Property, plant and equipment and other fixed assets 457.8 322.1 PP&E and other Fixed Assets 322.1 320.6 NetNet Long-Term Financial long-term Assets financial investments 25.0 21.0 21.0 19.8 NetNet Goodwill
Slide 26: 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 meas
Slide 27: Alternative Performance Measures
Appendix. Alternative Performance Measures 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 the analysis of the G
Slide 28: Alternative Performance Measures
Appendix. Alternative Performance Measures 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 measure the profitabilit
Slide 29: 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 30: 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 31: Your partner along the way, all the way
Your partner along the way, all the way