February 01, 2017
- Sales and margins keep improving
- Positive behaviour in Iberia and Italy
Logista raised its Net Profit by 86.1% to €46.1m during the first quarter of its fiscal year, between October and December of 2016.
Revenues declined by 3.5% to €2,283m despite cigarettes distributed fell by 6.2%, with lower volumes in France and Italy and stability in Spain. Prices rose in Spain, were stable in France and a few brands lowered its prices in Italy.
Economic Sales, result of subtracting products’ value from revenues, rose in almost every Group activity, with particular growths in Iberia in both Tobacco and Related Products as well as in Transport.
Accordingly, Economic Sales grew by 4.1% when comparing with the first quarter of the previous fiscal year to €261.5m, improving by 8.7% in Iberia and by 2.5% in Italy, while those in France barely declined by 0.7%.
The activity kept growing and improved its margins. The Adjusted Operating Profit (Adjusted EBIT) grew by 6.2% to €52.7m, the Operating Profit (EBIT) rose by 1.5% to €35.8m and the margin on Economic Sales rose to 20.2% when compared with the 19.8% of the previous fiscal year.
Logista significantly raised its financial income with the sale of a subsidiary in Italy, since 2008 providing transactional services to tobacconists to improve and modernize the management of the point of sale, an activity the Group keeps promoting by providing a wide range of products and services to tobacconists, through its network of Point of Sale Terminals.