November 03, 2015
- The Group keeps improving its margins and profitability
- The Board will propose to the shareholders a €0.5 per share final dividend and raise the fiscal year’s total dividend to €0.74
Logista raised its Net Profit by 6.7% to €109.2 during its fiscal year 2015, completed last September 30th.
The Group kept improving the profitability of its operations during the fiscal year, raising sales of convenience products and services to points of sale and improving its operating efficiency.
Revenues diminished by 0.3% to €9,471m during the fiscal year, when the decrease in the volume of cigarettes distributed reduced its rate of decline to 0.7% and the RYO tobacco distributed rose by 2.4%. All in a context of lower increases in prices comparing with previous periods in Spain and France and a higher relative weight of the low price brands segment in Spain and Italy.
Economic Sales, result of subtracting products’ value from revenues, declined by 1.8% to €1,010.1m when comparing with the fiscal year 2014, which included a positive impact due to the completion of some legal disputes. Excluding this, Economic Sales would have risen by more than 1%.
The company obtained good growths in the distribution of convenience products to tobacconists in Spain and Italy, in the Transport area and in Logista Pharma, while the activity in France had a weaker performance.
Logista raised its Adjusted Operating Profit (Adjusted EBIT) by 1.1% to €222.9m and improved the Group’s margin from 21.4% to 22.1% by reducing operating costs further than Economic Sales. This Adjusted Operating Profit is the main indicator of the course of business, as it doesn’t include those costs which are not directly related to revenues, such as restructuring costs, sale of assets and other similar costs.
The Operating Profit (EBIT) grew by 15.5% to €159.9m during the fiscal year and the Net Profit rose by 6.7% to €109.2m.
Logista’s Board of Directors will propose the General Meeting of Shareholders distributing a €0.5 per share final dividend. Thus, the total dividend for the fiscal year 2015 would amount to €0.74 per share, and so the Group keeps its remuneration policy to shareholders, consisting in distributing at least 90% of the consolidated net profit.