FM Logistic’s 2018 revenues up 11.8% year-on-year

FM Logistic

FM Logistic has reported financial results for the year ended March 31, 2019. The company reported revenues of €1,318m, up 11.8% year-on-year, and earnings before interest and taxes (EBIT) of €35.1m, up 32% year-on-year (FY2018: €26.5 m). According to the company, the result was achieved on the back of increased operational efficiency and a selective commercial approach.

FM Logistic’s transport business achieved a revenue growth of 17% (at constant exchange rate), helped by the performance of its Citylogin urban logistics service that gained traction with large e-commerce and retail companies.

Jean-Christophe Machet, FM Logistic CEO said: “Revenue growth was exclusively organic. The profitability improvement reflects the first results of our Focus plan. Initiated in 2017, the plan has four objectives: set the right prices for our services, increase operational efficiency, develop human resources and be more selective from a commercial standpoint.”

FM Logistic took advantage of the sustained demand for logistics services in Europe and Asia, which was propelled by omnichannel distribution and e-commerce. The company won €190m worth of new contracts from companies in the FMCG, retail, perfume and cosmetics sectors. 

FM Logistic continued to expand its presence across Europe with the opening or expansion of logistics platforms in Russia, Poland, the Czech Republic, Romania, Spain and Italy. Countries outside the French market now account for 61% of FM Logistic’s revenues. The company is also building new logistics platforms in India and Vietnam.

In France, FM Logistic started, or extended, 19 new customer projects and inaugurated two new multi-client logistics platforms in the Loiret district and in western France to answer the demand from consumer goods and retail brands.

FM Logistic said that it continued to invest in the automation of its warehouse processes, deploying additional automated guided vehicles (AGVs), collaborative robots (cobots) and inventory drones. The company also continued its digital transformation, with the migration of applications to the cloud, the adoption of new warehouse management systems (WMS), the rollout of a digital HR Suite, and the implementation of Google’s G Suite. FM Logistic has also teamed up with a French research university to design and develop an exoskeleton deigned for logistics operators.  

Source: FM Logistic