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Logista increases its net profit by 32.6% in the third quarter of the year

Logista increases its net profit by 32.6% in the third quarter of the year

Logista has registered a net profit of 137 million euros in the third quarter, which is 32.6% more than in the same period of the previous year as reflected in its results presented today to the National Securities Market Commission (CNMV). This positive dynamic also continues in the entity’s sales, which have experienced a rise of 7.2% in relative figures, standing at 909 million euros.

This increase in sales is explained by the improvements registered in all geographies and activities, according to the company. In addition, it focuses on the Economic Sales of the parcel businesses (Nacex), pharma and the distribution of convenience products, which have offset a lower activity of the tobacco distribution in Portugal.

Adjusted Operating Profit (Adjusted EBIT) follows the same path since it has reached 215 million euros, which implies an increase of 22.6% compared to the first nine months of the previous year. The Operating Profit (Ebitda) also reflects good numbers since it has risen by 29.5%, reaching 174 million euros. Therefore, Logista states that the health crisis “has not had a significant impact” on these results in any of the markets.

Thanks to this good dynamics of the activity, the entity approved on July 22 the distribution of an interim dividend of this year in 2021 for a total of 54 million euros, which translates into an amount of 0.41 euros per share that will be paid on August 27.

Regarding the company’s forecasts for the following quarters, Logista maintains positive expectations for the end of fiscal year 2021 and foresees double-digit growth in Adjusted Operating Profit compared to the end of 2020. Despite this, it states that the situation of uncertainty that the different countries in which it operates in relation to the evolution of Covid-19 must be taken into account, with the successive waves caused by the spread of new variants of the virus and that can generate measures again containment by governments.

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