Wednesday 25 March 2015 PRESENTATION OF 2014 RESULTS
ID Logistics reached a new milestone in its development in 2014 Healthy financial performance throughout 2014 – Strong revenue growth of 19% to € 874.5 million – Underlying operating income up 31% (operating margin improved to 4.8% from 4.3%) – Net income up 50% to € 18.0 million – Robust balance sheet and debt paydown nearing completion Now a wide range of contract logistics solutions – Able to compete effectively in multi-country tenders launched by international customers involving complex logistics solutions Proven ability to make and integrate a transformative acquisition (CEPL) 2 - Full-year 2014 results – 25 March 2015
2. 3. 1. 2014 2015 outlook Solid fundamentals results 3 - Full-year 2014 results – 25 March 2015
ID Logistics: a Group with solid fundamentals Thoroughbred contract logistics company with three distinctive strengths 3 1 2 A Group with a Delivering diversified innovative presence 15 years of solutions to our across international customers is expanding experience part of who we sectors of are activity 4 - Full-year 2014 results – 25 March 2015
ID Logistics: a Group with solid fundamentals Thoroughbred contract logistics company with three distinctive strengths 3 1 2 A Group with a Delivering diversified innovative presence 15 years of solutions to our across international customers is expanding experience part of who we sectors of are activity 5 - Full-year 2014 results – 25 March 2015
A Group with a diversified presence across 1 expanding sectors of activity E-COMMERCE RETAIL Positions in expanding sectors of activity (in volume terms) COSMETICS & FMCG FRAGRANCE Scope for further outsourcing Development of FASHION HIGH-TECH multi-channel offerings 6 - Full-year 2014 results – 25 March 2015
Example - A new line of business Fashion logistics 7 - Full-year 2014 results – 25 March 2015
ID Logistics: a Group with solid fundamentals Thoroughbred contract logistics company with three distinctive strengths 3 1 2 A Group with a Delivering diversified innovative presence 15 years of solutions to our across international customers is expanding experience part of who we sectors of are activity 8 - Full-year 2014 results – 25 March 2015
2 15 years of international experience ASIA EUROPE Positions strengthened in the Netherlands and Presence in Asia (China, Germany, with the CEPL Taiwan, Indonesia) since acquisition 2001 Strong resilience on account of: Russia: start-up of a Carrefour in China: ID contract with Mvideo Logistics’ expertise highly Its extensive expertise in regarded by customers international markets (Brazil, SOUTH AMERICA and prospects Russia, Argentina) Trust of customers Argentina: 8 years of Its ability to sign up local gained experience, no. 1 in customers (e.g. Mvideo in retail logistics (Unilever, Russia) Kimberley) A strong trend towards AFRICA Brazil: 12 years of outsourcing experience, second- Danone in South Africa: largest domestic market platform for expansion by worldwide, with strong IDL nationwide and growth potential. ID across Africa at large Logistics ranks 5 th in the country (Nivea, AB Development in Morocco InBev, Privalia) 9 - Full-year 2014 results – 25 March 2015
Example - Support for customers in international markets Carrefour in China (July 2014) Management of Carrefour’s logistics EXPERIENCE KNOW-HOW TECHNOLOGY and transport flows in Presence in Asia Chinese operational Voice-controlled the Shanghai, Jiangsu since 2001 teams selected and order fulfilment and Zhejiang trained technology provinces In China since 2004 Multicultural support IT integration Unique 26,000m 2 hub teams specialized in capabilities located in Kunshan Precise knowledge international start- (60km from of products and ups of contracts Shanghai) client process Advanced and operational 150 employees Excellent technology and IT Customer confidence understanding of systems translated (France, Argentina, Supply deliveries to legal and regulatory into Mandarin Brazil, Spain, Poland, 62 Carrefour environment Morocco, Indonesia hypermarkets and Taiwan) 10 - Full-year 2014 results – 25 March 2015
ID Logistics: a Group with solid fundamentals Thoroughbred contract logistics company with three distinctive strengths 3 1 2 A Group with a Delivering diversified innovative presence 15 years of solutions to our across international customers is expanding experience part of who we sectors of are activity 11 - Full-year 2014 results – 25 March 2015
What sets ID Logistics apart in calls for tenders: 3 “ Thinking outside the box ” Technological Understanding of International expertise the client’s needs markets and made-to- measure process Nespresso Danone SOGEFI Pick to Light JV France / South Development in Africa France, Poland, Brazil 12 - Full-year 2014 results – 25 March 2015
Innovative projects in progress at ID Logistics Easy Check IN e-vigilante Goods to Man security robot An automatic terminal, with a A robot moves goods from link to the TMS, WMS and racks to the operator’s A robot patrols the warehouse organisation of the site, workstation -> security staff are no longer checks drivers in and out put at risk The operator does not move It is multilingual, secures site around; the goods are brought The remote monitoring centre access and runs automatically to him/her receives a warning in real time via a video feed, it can take Space, productivity and remote control of the robot scalability improvements and interact with the interloper Removes any doubt immediately -> highly effective response, greater flexibility 13 - Full-year 2014 results – 25 March 2015
2. 3. 1. 2014 2015 outlook Solid fundamentals results 14 - Full-year 2014 results – 25 March 2015
Further profitable growth in 2014 Revenues Operating margin Investment capacity Double-digit growth Improvement Net debt/EBITDA € 874.5m 4.8% 0.9 (vs. 1.5 in 2013) +19% +50 bp -0.6 pt 15 - Full-year 2014 results – 25 March 2015
Strong growth in 2014 revenues € 874.5m France (+19%) € 497.6m (vs. € 417.6m in 2013) 43% International € 376.9m (vs. € 317.5m in 2013) Start-up of major contract with 57% Conforama, Saint-Gobain Distribution, Nespresso, Cdiscount Brisk business trends in Spain and Poland Start-up of a second contract in Russia (Mvideo) Start-up of a major contract for Carrefour in China % change * % change* +18.7% +19.2% (+14.4%) (+9.3%) *change vs. 2013 (like-for-like) 16 - Full-year 2014 results – 25 March 2015
Continued improvement in operating margin to 4.8% (up 50 bp) 2014 2013 % chg. ( € m) France Internat. Total France Internat. Total Underlying operating 27.2 14.4 41.6 23.0 8.8 31.8 +31% income As a % of revenues 5.5% 3.8% 4.8% 5.5% 2.8% 4.3% +50 bp In France: stable at 5.5% Dilutive impact of CEPL’s activities in first full year of consolidation Impact of new business started up in H1 2014 Offset by ramp-up in productivity of contracts started up in 2013 International: up 100 bp to 3.8% Accretive impact of CEPL’s operations outside France Stronger contribution from Poland, Germany and Spain in particular Unfavourable currency effect in value terms (but almost neutral impact on margins) Negative impact of the start-up of the major contract with Carrefour in China and of the second year in operation for Danone in South Africa 17 - Full-year 2014 results – 25 March 2015
Net income of € 18.0 million in 2014 (up 50%) € 41.6m (4.7) Non-recurring (6.8) expenses (o/w around Net € 4.2m in (6.8) financial restructuring income/ costs related to (exp.) Income CEPL) (4.7) tax (0.0) (0.6) € 18.0m CVAE Share in busine € 12.0m income of Non- ss tax associates controlling interests Underlying Net income Net income operating attributable to attributable to income equity holders equity holders 2014 of the parent of the parent 2014 2013 18 - Full-year 2014 results – 25 March 2015
Continued healthy cash generation Healthy cash generated by operating ( € m) 2014 2013 activities of € 34.2 million Cash generated by operating activities 50.6 41.3 before WCR and capex Improvement in the operating margin Change in the WCR 2.7 16.2 Strict control of the WCR in 2014 after a non-recurring positive effect arising from Capex (19.1) (15.7) the first-time consolidation of CEPL in 2013 Cash generated by operating activities 34.2 41.8 Tight grip on operating capex against the CEPL - price tag including expenses 0 (118.1) backdrop of slower decision-making by and operational net debt assumed customers related to competitive tenders Net interest expense (5.6) (4.9) Tight grip on financing expenses Increase in capital 2.8 3.8 Full-year impact of CEPL offset by lower Other changes (0.3) (0.3) borrowing costs Non-operating changes (3.1) (119.5) Contribution from minority shareholders at subsidiaries Reduction/(increase) in net debt 31.1 (77.7) 19 - Full-year 2014 results – 25 March 2015
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