ID Logistics: Q1 Revenue of €990.7M, Boosted by a 40% Surge in North America
ID Logistics reports a revenue of €990.7M for the first quarter of 2026, up by 14.2% in reported data and 17.2% on a like-for-like basis. The European contract logistics group continues its momentum in acquiring new clients with five projects initiated during the quarter, confirming the strength of its business model in an uncertain global macroeconomic context.
Geographical Focus of Growth
The group's growth is significantly concentrated geographically. North America, accounting for 21% of total revenue, recorded a 40.6% increase on a like-for-like basis, reaching €203.2M. Europe excluding France, which makes up 48% of the activity, grew by 17.3% on a like-for-like basis with a revenue of €474.4M, driven particularly by Germany, the UK, and Spain. On the other hand, France, representing 24% of the portfolio, showed a much more moderate increase of 4.9%, reaching €241.8M. Latin America and Asia, making up 7% of the activity, grew by 8.7% on a like-for-like basis. The 3.0% disparity between reported growth and like-for-like growth reflects an unfavorable currency impact, mainly on the US dollar, despite strong raw performances in dollars.
Beyond the Numbers
Beyond the published figures, the significant gap between reported growth (+14.2%) and growth adjusted for currency fluctuations (+17.2%) reveals that monetary volatility tempers the group's commercial performances. The organic growth of 17.2% on a like-for-like basis in the first quarter follows a strong Q1 2025, which recorded 17.9%. This sustained progress demonstrates robust recurring activity, independent of external contingencies. The group attributes this performance to its positioning in the sectors of mass consumption, e-commerce, and distribution, where the demand for contract logistics remains strong.
New Client Acquisitions
ID Logistics initiated five new projects during the quarter, confirming dynamic commercial activity. These signings include a 16,000 sqm site in France for cosmetics specialist SVR, a 60,000 sqm platform in Italy for Michelin, as well as an expanded partnership in the USA with Nutrabolt involving the opening of a new 37,000 sqm site in Wisconsin and the enlargement of an existing platform in Salt Lake City. In Brazil, the group signed a major partnership involving over 40,000 sqm representing 750 jobs. The group notes having responded to a sustained number of tenders. These acquisitions contrast with the group's assertion that its model, exclusively oriented towards domestic logistics and less sensitive to fuel price volatility, remains resilient. The main challenge for investors lies in the group's ability to convert this commercial momentum into improved margins, particularly in the face of integration challenges at these new sites.
