February 07, 2022
  • The company has recorded a 2.6% growth in Economic Sales
  • Logista maintains its high performance in the first quarter of the fiscal year with an increase of 19.9% in operating profit

 

Today, Logista, the leading proximity distribution company in Southern Europe, presented its first quarter results for the 2022 financial year. Despite the impact of the sixth wave of the pandemic, and in line with the previous year’s results, the reported numbers show growth in the Group's main income statement due to the Group’s activity and high performance.

Economic Sales have grown by 2.6% to 299 million euros in the first quarter of the fiscal year, due to improvements in tobacco distribution, Transport and Pharmaceutical Distribution in Iberia, as well as in the distribution of convenience products in Iberia and Italy. In this line, it is worth highlighting the double-digit increase recorded in the Economic Sales of the distribution of convenience products in Italy.

Adjusted operating profit (Adjusted EBIT) amounts to 75 million euros, an increase of 8.5% compared to the previous year.

In this first quarter, capital gains of 6 million euros were generated, compared to 1 million euros in the same period of the previous year. These capital gains come from the sale of two warehouses in Spain.

Operating profit has increased by 19.9% to 68 million euros

Logista's Financial Results amount to €4 million, compared to €8 million in the first quarter of FY2021. In this previous period, they included, in addition to the remuneration obtained from the higher cash flow, the collection of interest generated by the excess payments on account of corporate income tax in Spain in 2017 and 2018. The effective tax rate remained virtually stable at 26.8% in the first three months of financial year 2022.

Finally, Net Profit increased 14.1% to EUR 51 million.

 

Complete results press release