FM Logistic – profits grow by 21%

French third party logistics (3PL) company FM Logistic has published its end of year 2019/20 results that ended on 31st March.

Revenues at FM Logistic grew 8.7% to €1.43 billion year on year. Earnings before interest and taxes (operating profit) were €42.5 million, a growth of 21% on the previous year.

Jean-Christophe Machet, CEO of FM Logistic: “FM Logistic again achieved a strong performance in 2019/20. The 21% EBIT growth confirms the positive impact of our Focus programme. Revenue growth was entirely organic, supported by strong sales execution and the introduction of new services, particularly in the omnichannel and urban logistics areas.

“The Covid-19 outbreak had a limited impact on the financial year ended in March 2020. However, the start to the new fiscal year has been more challenging. In April and May 2020, we saw an overall 9% revenue decrease compared with the previous year and a significant increase in operational costs related to anti Covid-19 prevention measures.

“We continue to take action to protect our employees, serve our customers’ needs and strengthen our balance sheet. Almost all our sites are operational. Most importantly, we have some substantial strengths, namely a sound financial situation, a balanced customer portfolio of food and non-food FMCG companies and retailers, our e-logistics ability, a mostly domestic activity and a stable family shareholding structure. Supply chain services help meet the essential needs of the populations and businesses. All these give us confidence in our ability to get through this unusual period.”