ID Logistics - Improved profitability thanks to cost control and geographic mix
Recurring EBIT up 16% by 2023, driven by sales growth (+7% organic) and a 20bps improvement in recurring EBIT margin.This improvement in recurring EBIT margin breaks down as follows: -10bps to 4.2% in France and +30bps to 4.7% internationallyNet income before non-recurring items down 7% due to the deterioration in financial income because of higher interest ratesFinancial leverage down to 1.6x from 1.9x at end 2022, leaving room for manoeuvreStrong start-up of new projects and relatively rich M&A news in early 2024Forecasts for 2024 revised upwards and "BUY" opinion confirmedID 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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