New projects drive strong revenue growth for ID Logistics

France based global contract logistics player ID Logistics reported a 17.6% y-o-y growth in revenues with the integration of Spedimex in 2023 to €736.3m, and on a like-for-like basis 12.4% y-o-y.

ID Logistics CEO Eric Hémar said, “The first quarter of 2024 marked a further acceleration of [our] revenue growth”. Across geographies, France’s continued falls in revenue stabilised to just -0.5% in the quarter. Offsetting this:

  • Europe excluding France saw 14.3% growth in revenues on a like-for-like basis
  • US revenues were up 29.5% y-o-y
  • Latin American operations saw a 21.6% revenue growth

Hémar continued, “This good momentum was driven by the start-up of major projects in several of our key countries both in Europe and across the Atlantic.” The logistics provider began seven major projects in the quarter including operations in an 86,000 sq m site near Amiens, France for a global e-commerce store. In Minas Gerais, Brazil, the company took over operations at a 12,000 sq m site for beauty products brand Wella.

The CEO concluded, “The group is well positioned to pursue its profitable growth trajectory in 2024.”

Source: ID Logistics