November 07, 2017
- Economic Sales grew by 1.1% to €1,049.7m
- The Board will propose to the shareholders a €0.75 final dividend, raising the total dividend for the fiscal year to €1.05
Logista raised its Net Profit by 16.5% to €153.9m during its fiscal year 2017, completed last September 30th.
Revenues declined by 1.4% when comparing with the previous fiscal year to €9,493.2m, thanks to an overall good performance in Iberia and despite the 4% global decline in cigarettes distributed.
Economic Sales grew by 1.1% when compared to the previous fiscal year to €1,049.7m, with improvements in all business lines in Iberia and sales of convenience products in Italy.
The Adjusted Operating Profit (Adjusted EBIT) fell by 6.8% to €218.8m and the Operating Profit (EBIT) did so by 10.8% to €158m, in both cases non-recurrently affected by prices increases in tobacco products in France and Italy that were lower than tax increases.
Profit before Taxes rose by 0.1% after the sale of a subsidiary in Italy providing transactional services to tobacconists. The Net Profit rose by 16.5% to €153.9m, favoured by the reduced rate at which such sale is taxed, and the lower tax rates in all countries where the Group operates.
In the fiscal year 2017, Logista reached its highest Economic Sales and Net Profit since listed in 2014. Thus, the company’s Net Profit has risen at an average annual rate of 14.6% during the last three fiscal years.
Logista’s Board of Directors will propose the General Meeting of Shareholders distributing a €0.75 per share final dividend. After the €0.30 per share interim dividend already paid, total dividend for the fiscal year 2017 would rise by 16.7% to €1.05 per share, and so the company keeps its remuneration policy to shareholders, consisting in distributing at least 90% of the consolidated net profit.
Complete results press release