FM Logistic reports results for FY 2020/2021
Group – FM Logistic reports resilient 2020/2021 results with comparable revenue growth of 1.5% and a growing customer pipeline Revenue for 2020/2021 amounted to €1,380…
On June 1, 2021
Group – FM Logistic reports resilient 2020/2021 results with comparable revenue growth of 1.5% and a growing customer pipeline Revenue for 2020/2021 amounted to €1,380…
On June 1, 2021
Group – FM Logistic reports resilient 2020/2021 results with comparable revenue growth of 1.5% and a growing customer pipeline
Revenue for 2020/2021 amounted to €1,380 million, down 3.6% on a reported basis. It was affected by the economic downturn caused by Covid-19 in spring 2020 and a negative currency impact of €73 million. These factors were partly offset by a strong business recovery in the second half of the fiscal year. Revenue was up 1.5% on a currency-neutral basis.
Earnings before interest and taxes (EBIT) were €38.8 million, 8.7% lower than last year. The decrease mainly reflects higher costs associated with COVID-19 adaptation measures (€8.1 million), partially offset by cost-savings and cost-passing measures, and FX headwinds of €3 million. Comparable EBIT was stable at €41.8 million (-1.6%).
“In an economy in turmoil, FM Logistic has proved remarkably resilient and relevant. Comparable revenue rose 1.5%. We signed €207 million of new contracts between April 2020 and March 2021, half of which are related to omnichannel and e-commerce. Our employees’ efforts helped millions of consumers get the products they needed. We’ll continue to build on our strong positions in the consumer goods and retail industries to help our customers implement sustainable omnichannel strategies,” said FM Logistic CEO Jean-Christophe Machet.
Growing demand for omnichannel and e-commerce supply chain solutions
The on-and-off closure of bricks-and-mortar stores in 2020 accelerated the demand for omnichannel and e-commerce logistics. FM Logistic now provides omnichannel logistics solutions to 57% of its customers. Another related driver was the growing need for urban logistics solutions, such as micro-depots, dark stores and bespoke click-and-collect solutions. In these areas, the company has extended its contracts with leading retailers, such as Carrefour, Intermarché and Sephora. The most notable new contracts awarded in 2020/21 included a global cosmetics and skincare brand, a large toy manufacturer and several leading e-commerce companies, particularly in France, Spain and India. Key contract renewals were signed with Mondelēz and Nestlé.
Regional highlights
Revenues were split between France (40%) and other countries (60%), a proportion similar to recent years.
Working towards sustainable supply chains
In fiscal 2020/21, FM Logistic took further steps to contribute to more sustainable supply chains. Some of the initiatives included:
Global emissions of carbon dioxide from FM Logistic’s warehousing operations continued to go down. The overall decrease in absolute terms reached 17% between 2018 and 2020.
2021/22 guidance
FM Logistic expects to achieve organic revenue growth in the high-single-digit percentage range in fiscal 2021/22. This is based on the assumption that Covid-19 restrictions will gradually ease.
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