- Revenues and Economic Sales also grew during the quarter by 3.6% and 2.9%, respectively.
- The good performance in activity during these three months led to a 16.3% increase in Operating Profit and a 10.3% rise in Adjusted Operating Profit.
Logista, the leading distributor in Southern Europe, closed the first quarter of fiscal year 2021 with an 21.7% increase in Net Profit and growth in the main figures of its income statement after having maintained activity at almost its usual pace despite the pandemic.
Revenues from October to December 2020 grew by 3.6% YoY due to increasing turnover figures in most of the main businesses such as tobacco distribution in France and Italy, the distribution of convenience products in all markets where Logista operates, as well as in the Pharma and Nacex in Spain.
Economic Sales grew by 2.9% YoY with increasing figures in all markets. By activity, the increase in Pharma, Nacex and Long-distance Transport, together with growth in the distribution of tobacco and convenience products, were much higher than the reduction experienced in the distribution of publications, Industrial Parcel Services and distribution of convenience products to networks other than tobacconists in France.
Adjusted Operating Profit (Adjusted EBIT) reached €68m, increasing by 10.3% YoY and the margin on Economic Sales rose to 22.5% from 21.0% in the same period of 2020. Operating Profit (EBIT) increased by 16.3% to €55m.
As a consequence of all the above, and despite registering a higher tax rate (27.9% from 26.3% in the previous year), Net Profit increased 21.7% to €45m.