- Economic Sales have registered a 5.6% growth
- Group's activity good performance has led to a 13.2% increase in Adjusted Operating Profit
- Company proposes to increase its dividend by 5.1% to 1.24 euros per share
Logista, the leading company in proximity distribution in Southern Europe, has presented today its 2021 fiscal year results, which reflect the Group's activity growth. During this period, there have been increases in the main income statement aggregates, even though in the previous year there were no impacts derived from COVID-19 until March 2020.
Economic Sales have grown by 5.6%, reaching 1,180 million euros due to better results registered in all geographies and activities – except in the distribution of tobacco in France and Portugal. It is also worth mentioning Logista Pharma, Parcel (Nacex), and convenience products distribution Economic Sales, which have registered a double-digit increase in Spain and Italy.
Adjusted Operating Profit (Adjusted EBIT) has reached 298 million euros, which represents an increase of 13.2% compared to the previous year. The Adjusted Operating Profit margin on Economic Sales was 25.2% compared to the 23.5% obtained in 2020 fiscal year.
Operating Profit has increased by 12.8%, reaching 240 million euros, and Financial Results have reached 20 million euros, compared to 12 million last year. This increase is mainly due to the interest generated by excess of payments on account of corporation income tax in Spain during the 2017 and 2018 financial years, in accordance with a ruling of the Constitutional Court. The effective tax rate has been 27%.
Net Profit has registered an increase of 10.7%, to 174 million euros.
COVID-19 is not estimated to have had a significant net impact on fiscal year results in any of the markets.