ID Logistics, a European leader in contract logistics, has delivered an impressive performance in the second quarter of 2024, continuing its strong growth trajectory from earlier in the year. The company’s latest financial results showcase its ability to thrive in a competitive market and expand its global footprint.
In Q2 2024, ID Logistics reported revenues of €782.3 million, marking a 19.7% increase compared to the same period last year. Even more telling is the company’s like-for-like growth of 16%, which excludes the impact of acquisitions and currency fluctuations. This robust organic growth underscores the strength of ID Logistics’ core business and its ability to win new contracts across various markets. The first half of 2024 painted an equally positive picture, with total revenues reaching €1,518.6 million, up 18.7% from the previous year. On a like-for-like basis, this translates to a 14.3% increase, demonstrating consistent performance across the company’s operations.
One of the standout features of ID Logistics’ Q2 performance was the exceptional growth in North America. The region saw a 40% like-for-like increase in revenues, highlighting the company’s successful expansion strategy in the United States. This growth was fuelled by new contracts with major e-commerce players and consumer goods manufacturers, including a significant deal with a global e-commerce giant for a new platform in Pennsylvania.
Europe, excluding France, also showed strong momentum with a 19.2% like-for-like increase in revenues. The company’s operations in Poland were particularly noteworthy, with the integration of Spedimex (acquired in June 2023) and the expansion of services for a leading fashion company.
While growth in France was more modest at 0.3%, it marked a return to positive territory and showed the company’s resilience in its home market. Latin America and Asia continued to perform well, with a 20% like-for-like increase in revenues.
Source: ID Logistics
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