May 03, 2017
Logista raised its Net Profit by 49.7% to €76.6m during the first half of its fiscal year, between October of 2016 and March of 2017.
Revenues declined by 1% when compared to the first half of the previous fiscal year to €4,527m, with an increase of sales in other products different to tobacco that helped to offset the fall of 4.8% in cigarettes distributed. Prices grew in Spain and France, while a few brands lowered their prices in Italy.
Economic Sales, result of subtracting products’ value from revenues, rose by 2.7% when compared to the first half of the previous fiscal year to €511.9m, with growth in every activity carried out in Spain and Italy.
Accordingly, the company improved Economic Sales in Tobacco and Related Products distribution to tobacconists in Spain and Italy, in its Transport area and in Logista Pharma.
The Adjusted Operating Profit (Adjusted EBIT) grew by 1% to €100m and the Operating Profit (EBIT) rose by 1.2% to €69.5m.
Earnings before Taxes grew by 26.6% after 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.
The reduced rate at which this sale is taxed and the lower theorical tax rates in all countries where the Group operates reduced the consolidated effective tax rate, contributing to the 49.7% increase in the Net Profit.