Slide 1: Results Presentation FY-2024
Results Presentation FY-2024 1 October 2023 - 30 September 2024 November 6th, 2024
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 Robust Financial Performance with relevant 01 growth Progress in our Diversification Strategy and with 02 the Synergy Implementation 03 High Dividend Proposed for 2024 04 Continuous commitment towards ESG 05 Imperial Brands’ Credit Line update
Slide 5: Key Highlights – Financial Performance
Key Highlights – Financial Performance Economic Sales per Region (% vs. FY-2023) 12,986 M€ Iberia 1,757 M€ 385M€ 1,144 M€ 35 M€ +5% 350 308 Italy M€ M€ 402 M€ 4% 4% 5% 13% +9% France Revenues Economic Sales Adjusted EBIT Net Profit 216 M€ (4%) Year on year rise backed by sustained growth, a strong p
Slide 6: Key Highlights – New Acquisitions during the period
Key Highlights – New Acquisitions during the period Acquisition of Acquisition of Minorities’ Acquisition of Minorities’ Acquisition of SGEL Libros Belgium Parcels Service Speedlink Transportes El Mosca ▪ Consolidation of Logista Libros’ ▪ Expansion of our courier service in ▪ Acquisition of the rem
Slide 7: Key Highlights – Update on synergy implementation
Key Highlights – Update on synergy implementation ❑ 150 trucks and 200 semi-trailers with ❑ Full network integration in central ❑ Closure of SGEL Libros’ warehouse Latest Actions Taken security systems installed Spain area (additional to areas and transfer of all business to Logista integrated in 20
Slide 8: Key Highlights – High Dividend Proposed for 2024
Key Highlights – High Dividend Proposed for 2024 Dividend Proposal for 20241 Main Levers for 2024 Dividend ▪ Net Profit registered +13% YoY2 growth 277M€ ✓ High Profit on Inventory of 35M€ ✓ Relevant Financial Income of 103 M€ 2.09€/sh. ✓ Strong operating performance +13% Vs. 2023 In line with our d
Slide 9: Key Highlights – High Dividend Proposed for 2024
Key Highlights – High Dividend Proposed for 2024 13% Dividendsallocated to FY (M€, YoY1 %) 98 119 139 149 156 156 164 183 245 277 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 Total dividends since IPO of more than 1,680 M€ Notes: (1) yoy year-on-year growth; (2) dividend proposal for FY 2024
Slide 10: Key Highlights – Sustainability Plan 2024-2026
Key Highlights –Sustainability Plan 2024-2026 Sustainability master plan supported by our updated sustainability policy and the new corporate governance on sustainability matters including a new Sustainability Committee which will report to the renamed Audit, Control and Sustainability Committee at
Slide 11: Key Highlights – Imperial Brands' Credit Line Update
Key Highlights – Imperial Brands’ Credit Line Update Main terms of the credit line renewal ▪ Credit line split in two separate tranches: 0.75% 0.75% 0.75% ✓ 1st tranche – up to 1,000M€ at a fixed rate of 2.865% + Spread of 0.75% totalling 3.615% Eur. 3.615 3.615 6M 3.615 Eur. 6M % Eur. ✓ 2nd tranche
Slide 12: Business Overview
Business Overview Logista PARCEL MOSCA
Slide 13: Iberia
Iberia Tobacco & Related Transport Pharma Other Businesses ▪ Total tobacco1 volume in Spain & ▪ Long Distance transport ▪ 10% growth in Pharma ▪ 4% yoy2 growth in Economic Portugal of +0.4% yoy2 recording single digit growth supported by new Sales as a result of the full ▪ Change in Inventories Valu
Slide 14: Italy
Italy Tobacco Distribution Related Products Pharma ▪ Total tobacco1 volume +1.1% yoy2 ▪ Recycle-Cig: new business line focused on ▪ Re-branding of Gramma Farmaceutici to ▪ Traditional tobacco volume drop NGP recycling with close to 29,500 Logista Pharma Italy compensated mainly by increase in Heets
Slide 15: France
France Tobacco Distribution Related Products ▪ Total tobacco1 volume fall of -11% yoy2 ▪ Continuous growth in the electronic cards’ ▪ Change in Inventories Value3 of 8M€ after business change in taxes and increases of tobacco ▪ Increase in the number of tobacconists prices in France of all major tob
Slide 16: Main Financials
Main Financials
Slide 17: 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 ▪ Profit on inventory driven by the changes in tobacco pricing in all three regions and movement in taxes in France and Italy Adjusted EBIT ▪ 5% yoy1 growth driven
Slide 18: Main Financials – Net Profit Bridge
Main Financials – Net Profit Bridge (M€, yoy1%) +13% Financial Results ▪ +103M€ financial income vs. 84M€ last year thanks to the increase in interest rates ▪ Average interest rate for the period of 4.10% + spread of 0.75% (vs. 3.12% average ECB + 0.75% for FY-2023) Taxes ▪ Effective tax rate of 26.
Slide 19: Main Financials – Normalized FCF Bridge
Main Financials – Normalized FCF Bridge (M€) EBITDA ▪ Positive performance during the period led to a 5% increase in EBITDA compared to the same period of the previous year. Financial Results ▪ +101M€ financial income collected vs. 83M€ last year thanks to the increase in interest rates Restructurin
Slide 20: Main Financials – Stock Performance
Main Financials – Stock Performance 14% 135 130 2024 TSR1 125 120 115 110 12% 105 100 2024 95 Share Price 2 90 28.00€ LOGISTA IBEX 35 IBEX TOP DIVIDEND Max. Share Price3 Notes: (1) Total Shareholder Return from September 29th, 2023 to September 30th, 2024 inc. dividend paid but not reinvested, (2) s
Slide 21: Closing Remarks
Closing Remarks
Slide 22: Closing Remarks
Closing Remarks 01 Strong financial results for the period, based on sustainable growth from traditional businesses backed by the new businesses and profit on inventory 02 Benefiting from high interest rates while partially hedging financial income from the existing decline in interest rates 03 ESG
Slide 23: 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 Expected sustainable growth from underlying business We expect Adjusted EBI
Slide 24: Appendix
Appendix
Slide 25: Appendix. Revenues Evolution (By segment and activity)
Appendix. Revenues Evolution (By segment and activity) M€ FY 2024 FY 2023 Δ% Iberia 4,843 4,473 8.3% Tobacco and related products 3,892 3,601 8.1% Transport 890 837 6.3% Pharmaceutical distribution 273 234 16.9% Other businesses 19 18 3.1% Adjustments (231) (216) (6.6)% Italy 4,436 4,256 4.2% Tobacc
Slide 26: Appendix. Economic Sales Evolution (By segment and activity)
Appendix. Economic Sales Evolution (By segment and activity) M€ FY 2024 FY 2023 Δ% Iberia 1,144 1,093 4.7% Tobacco and related products 389 382 1.8% Transport 726 679 7.0% Pharmaceutical distribution 102 93 9.9% Other businesses 18 17 3.8% Adjustments (91) (78) (16.6)% Italy 402 370 8.7% Tobacco and
Slide 27: Appendix. Adjusted EBIT Evolution (By segment)
Appendix. Adjusted EBIT Evolution (By segment) M€ FY 2024 FY 2023 Δ% Iberia 202 198 1.7% Italy 121 106 14.0% France 63 61 2.1% Total Adjusted EBIT 385 366 5.3% 27
Slide 28: Appendix. Profit & Loss Account
Appendix. Profit & Loss Account M€ FY 2024 FY 2023 Δ% Revenues 12,986 12,428 4.5% Economic sales1 1,757 1,684 4.3% (-) Operating cost of logistics networks1 (1,206) (1,160) (4.0)% (-) Commercial operating expenses1 (67) (65) (3.7)% (-) Operating expenditure on research and central offices1 (98) (94)
Slide 29: Appendix. Cash Flow Statement
Appendix. Cash Flow Statement M€ FY 2024 FY 2023 Change EBITDA 495 471 24 Restructuring and other payments (15) (6) (10) Net financial income/(expense) 101 83 19 Normalised taxes (125) (109) (15) Investment (47) (44) (3) Rent payments (69) (60) (9) Normalised Cash Flow 340 335 6 Change in working ca
Slide 30: Appendix. Balance Sheet
Appendix. Balance Sheet M€ Sept-2024 Sept-2023 Property, plant and equipment and other fixed assets 484 450 Net long-term financial investments 32 25 Net goodwill 1,012 1,010 Other intangible assets 262 319 Deferred tax assets - 12 Net inventory 1,824 1,781 Net receivables and other 2,003 1,978 Cash
Slide 31: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Purchase Price Allocation (PPA, M€): Amortization of the intangible assets linked to the acquisitions of the French business, Speedlink, Carbó Collbatallé,Transportes El Mosca, Gramma Farmaceutici and BPS. 62 61 60 60 8 8 8 6 3 3 3 3 3 1 1 1 1 1 1 6 FY24 FY
Slide 32: 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 33: 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 34: 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 35: 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 36: 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 37: Your partner along the way, all the way
Your partner along the way, all the way