ID Logistics rises on 'good quality' FY results

Id Logistics SAS

14/03/2024 09:05

** Shares in ID Logistics  IDLA.PA  are up around 3% after
the French company posted "good quality" FY results
    ** Recurring EBITDA rose 16.6% to 434.7 million euros
($475.61 million), in line with expectations, according to both
Portzamparc and Midcap Partners
    ** The company didn't give a detailed outlook but Chairman
and CEO Eric Hemar said it had won several strategic contracts
on both sides of the Atlantic, opening up "excellent growth
prospects for 2024"
    ** Portzamparc's analyst Nicolas Delmas says in a note the
company reported "good quality" results
    ** "The outlook is also very good as strong contracting
dynamics should, in our view, allow to post organic growth of
9-10% in FY24," Delmas adds
    ** The stock is second-best performer on France's SBF 120
index  .SBF120 
    


($1 = 0.9140 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))