Logista : Q1 earnings beat. FY24 outlook maintained
>Q1 2024 economic sales +7% y-o-y, a touch above forecasts - Economic sales in Q1 (October-December 2023) were up 7% y-o-y to € 426m. This evolution is exclusively organic as the scope effect from recent acquisitions is now over, and is somewhat above our estimate (3pp) and the consensus (2pp). Economic sales were very strong in Iberia (+5% y-o-y) helped by a strong transport (+12% y-o-y) and others contribution (+27%) that offset the apparently soft tobacco evolution...Compania de Distribucion Integral Logista Holdings, through its subsidiaries, is a distributor and logistics operator in Spain, Portugal, France, Italy and Poland. Co. is engaged in providing various distribution channels with a range of products and services, including tobacco and tobacco related products, convenience goods, electronic documents and products (such as mobile phone and travel card top-ups), pharmaceutical products, books, publications and lottery tickets. Co. provides these services through a network which spans the whole value chain, from picking up to POS delivery.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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