Revenue growth of +7.3% In Q3, as 9M performance climbs 5.3%
ID Logistics has reported its results for Q3, 2020. The Company has returned to a sustained growth pace due to the quality of its customer portfolio, particularly in eCommerce, and the continued opening of sites during the first half of the year, especially outside of France.
After a resilient Q2 (when sales were stable compared to Q2, 2019), ID Logistics recorded sustained growth in sales in Q3, 2020 to €412.1 million, up 7.3% compared to 2019 (+5.9% like-for-like).
In France, ID Logistics’ sales increased by 2.1% to €183.8 million and the business is back on the growth track month after month. International revenues for Q3, 2020 were up sharply, +11.8%, to €228.3 million, with a continued acceleration throughout the quarter. This performance includes a generally unfavourable exchange rate effect, particularly in Latin America, a change in the scope of consolidation due to the end of operations in South Africa in September 2019 and in China in June 2020 and the consolidation in December 2019 of the Jagged Peak activities in the US. Excluding all of these items, net sales rose 9.5% during the past quarter.
The good business recovery in Q3, 2020 following the sustained growth in Q1, 2020 and the resilience shown in Q2, 2020 enabled ID Logistics to achieve sales of €1,188.7 million in the first nine months of 2020, up 5.3% (+3.4% like-for-like). During this period, the Group started up 15 new sites (five in France and 10 outside France).
Thanks to a still very diversified customer portfolio (40.0% in food production and distribution and 20.0% in eCommerce) and a balanced geographical footprint, ID Logistics maintains a good level of activity despite the context of the health crisis. The pace of start-ups continues to be dynamic and the Group keeps receiving numerous calls for tender, particularly in the eCommerce sector.
ID Logistics therefore intends to continue its development over the end of 2020, while remaining very cautious about the evolution of the health crisis linked to Covid-19. In this context, the Group’s priorities remain the protection of its employees, the support of its customers as close as possible to their needs and sound cash management. It remains attentive to external growth opportunities, particularly in Northern Europe and the US.