FM Logistic reports resilient 2020/2021 results with comparable revenue growth of 1.5% and a growing customer pipeline

FM Logistic today published its financial results for the fiscal year ended 31 March 2021. The full audited results will appear in the annual report, which will be issued early July.

Revenue for 2020/21 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.

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.

Revenues were split between France (40%) and other countries (60%), a proportion similar to recent years.

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.

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.

About FM Logistic

Founded in France in 1967, FM Logistic is an independent, family-owned company that provides omnichannel supply chain solutions to companies in the FMCG, retail, beauty & cosmetics, industrial manufacturing, and healthcare industries.
Its services include warehousing, omnichannel fulfilment, co-packing, domestic and international transport, as well as supply chain control tower services. It is active in more than 14 countries across Europe, Asia, and Latin America. The company achieved revenue of €1.38 billion in the fiscal year to March 2021 and has 27,200 FTE employees.
You can follow FM Logistic on Twitter at @FMLogistic and on LinkedIn at https://www.linkedin.com/company/fm-logistic/

FM Logistic HO
Cyrille Gibot
Group external communication manager
Phone: +33 6 45 99 91 58
cgibot@fmlogistic.com