ID Logistics - Growth slows in Q2 as expected, but is expected to improve in H2
Group sales up +3% in Q2, in line with our expectationsQ2 sales in France down -3.4% on both an organic and reported basis.International division sales up +7% L/LStart-up of 7 new projects in Q2 and 12 in total for the half-yearExpansion for the first time in the UK thanks to synergies with SpedimexStart-up of new projects and lower inflation should accelerate growth in H2.Focus on implementing flexible cost structure to limit impact of lower sales on margins.We maintain our guidance for 2023 and confirm our "Buy" opinion.ID Logistics is an international contract logistics group that designs and implements one-stop services tailored to the specific requirements of each client. The services Co. offers combine customized architectures to allow clients to optimize their supply chain.
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