February 03, 2022
- A dividend of 164 million of euros, EUR 1.24 per share, was endorsed at the General Shareholders Meeting
- Logista closed 2021 financial year with a 10.7% increase in net profit and a 13.2% increase in adjusted operating profit thanks to the Group’s strong performance
- Logista’s CEO, Íñigo Meirás, affirmed that “Logista has once again demonstrated its strength and its ability to develop in a highly complex context, growing and creating value, even in the face of adverse macroeconomic and social situations.
Logista, the leading proximity distribution company in Southern Europe, held its Annual General Shareholders Meeting today, where the distribution of a dividend of EUR 164 million, EUR 1.24 per share, was endorsed, representing an increase of EUR 5.1% over the previous year. This dividend represents the distribution of 95% of net profit for the year.
All proposed resolutions submitted to the AGM, including the approval of the Directors' Remuneration Policy for the financial years 2022-2024, were passed with a large majority of votes in favour.
The AGM also endorsed the re-election of independent directors Cristina Garmendia and Alain Minc, as well as the ratification of the appointment of proprietary directors Lillian Blohm and Murray McGowan. In this way, the percentage of women on the Board of Directors has been maintained at 42%.
During this meeting, Logista's shareholders also passed the annual accounts of 2021 financial year, which ended with a Net Profit of 174 million EUR, a 10.7% higher than the previous year. Operating Profit stood at 240 million, which represents an increase of 12.8%. These numbers reflect the Group's progress and the fact that Covid-19 did not have a significant net impact on the company’s results.
Gregorio Marañón, Chairman of the Board of Directors, stated that "The 2021 financial year that we are presenting today has taken place in an uncertain context. It has not been easy to manage our business amidst so much uncertainty, but we have managed to navigate these waters with great solvency thanks to our excellent management team and all the people that shape Logista, who have been involved every day, offering the best value-added service to our customers".
Marañón also highlighted that the vaccine, with which Logista has collaborated in its distribution, has been a turning point in the fight against the pandemic, being one of the main achievements this year. The Chairman of the Board of Directors also outlined Logista's vocation for service and its excellence as the company’s main strengths, as well as its constant innovation as part of its commitment to customer service.
Íñigo Meirás, CEO of Logista, stated that the extended period of the pandemic has affected supply chains globally, leading to delays in the delivery of goods of all kinds. However, he reinforced the company’s willingness to resist: "But despite this difficult situation, Logista has once again demonstrated its strength and ability to develop in a highly complex context, while growing and creating value, even in the face of adverse macroeconomic and social situations". In this sense, Meirás mentioned some of the innovations that the Group has developed for its customers during the year, such as a system for individual and univocal traceability of vaccines against Covid-19 developed by Logista Pharma, or the new Nacex ECONOMY services, which aim to enhance the management of shipments through its network of NACEX.shops for online customers. He also highlighted the agreement between Logista Payments and Endesa, through which Endesa’s customers are able to pay undirect debited bills through tobacconists located throughout Spain.
In terms of financial indicators, Revenues were 3.9% higher than the previous year and Economic Sales grew by 5.6%. EBIT also increased by 12.8%.
CEO Íñigo Meirás seized the opportunity and assured to all shareholders that he expects a positive trend in the company’s results through the year, in which the company is already immersed.
About Logista
Logista is the leading proximity distributor in Southern Europe. It regularly serves more than 200,000 points of sale in Spain, France, Italy, Portugal and Poland and provides the best and fastest market access to a wide range of convenience products, pharmaceuticals, electronic recharging, books, publications, tobacco and lotteries, among others. Logista has a team of highly qualified professionals comprising 5,900 direct employees and 15,000 collaborators, focused on serving its customers in the most efficient way and adapted to their needs.
Sustainability Commitment
Logista has been included for the sixth consecutive year on CDP's "A List", which recognises global leaders in the fight against climate change. Logista is the only European distributor to make the list for six consecutive years. CDP has also recognised Logista's work as a driver of sustainable change throughout its value chain and has included it in the Supplier Engagement Leader category.
In addition, Logista's firm commitment to sustainability has been recognised in October 2021 by Sustainalytics, one of the leaders in the evaluation of Corporate Social Responsibility and Corporate Governance worldwide, which, after evaluating the Company's ESG criteria, has awarded it an ESG risk rating of 14.1 points, meaning that it is considered to be at Low Risk of experiencing material financial impacts due to ESG factors and awarded it accreditation as Industry TOP RATED 2022 (among the 50 best ratings in the Transport industry).
Also as a result of its firm commitment to Corporate Social Responsibility, Logista has once again managed to position itself among the leaders in the sector by being recognised in 2020 with an MSCI rating of AA, whose scale is AAA-CCC.
Logista is also part of the FTSE4Good index, which includes companies that demonstrate sound environmental, social and corporate governance practices, and the Ibex Gender Equality index.