- Company's Economic Sales grow by 3.9%
- Logista increases Adjusted Operating Profit by 5.2% and Net Profit by 4.3%
Logista, one of the largest logistics operators in southern Europe, has presented today its results for the third quarter of fiscal year 2022.The company’s results show growth in the main magnitudes of the Group's income statement due to the positive performance of its activity, as well as an increase in its operating margin, despite the complex geopolitical and macroeconomic scenario.
Economic Sales have increased by 3.9%, reaching EUR 911 million in the first nine months of the year due to improvements in tobacco distribution, transport, pharmaceutical distribution, and publications 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 registered in the Economic Sales of convenience products’ distribution in Italy.
Adjusted Operating Profit (Adjusted EBIT) has reached EUR 229 million, which represents an increase of 5.2% compared to the previous year, despite inflationary pressures.
In these first three quarters, Logista has generated capital gains amounting to EUR 15 million, compared to EUR 1 million registered in the same period last year, from the sale of three non-operating assets in Spain. These higher capital gains have made it possible to mitigate the increase in restructuring costs and the negative impact of Supergroup’s sale, a subsidiary in France, whose divestment took place on February 2, 2022.
Operating Profit has registered an increase of 13% to EUR 199 million.
Financial Results have reached EUR 12 million, compared to EUR 14 million registered last year during the same period. This is mainly because in the first nine months of 2021 financial year, the interests generated by the excess payments on account of corporate tax in Spain during the 2017 and 2018 financial years were received, in accordance with a resolution of the Constitutional Court.
Net Profit has increased by 4.3% to EUR 143 million.