ID Logistics: Revenue up 18.3% in H1, margin improving
ID Logistics published on August 26, 2026 half-year results marked by double-digit growth in its main aggregates. The contractual logistics specialist sees its current operating income advance faster than its business, while its debt leverage declines.
Beyond the figures, the half-year marks the group's entry into a twentieth country, Australia, and marked acceleration in the North American market.
Revenue of €2,084.6 million driven by North America
ID Logistics' revenue stands at €2,084.6 million in the first half of 2026, up 18.3% (20.0% on a comparable basis) compared to €1,761.7 million in the first half of 2025, a period that already showed growth of 16.5%. Published growth incorporates a foreign exchange effect presented as globally unfavorable.
By region, France (24% of revenue) grows by 5.7%, Europe excluding France (47%) by 19.7% on a comparable basis and North America (21%) by 46.3% on a comparable basis. Rest of world (8%) increases by 13.8% on a comparable basis and now includes Australia, the group's twentieth country of operation.
Over the first six months of the year, ID Logistics indicates it has launched 17 new projects.
Current operating income up 23.3%, margin gaining 20 basis points
Current operating income reaches €81.1 million, up 23.3% compared to €65.8 million in the first half of 2025, a pace higher than that of the business. Current operating margin stands at 3.9% of revenue, compared to 3.7% a year earlier, up 20 basis points.
The group attributes this progression to increased productivity of projects launched in 2025 and control over costs of new projects launched in the first half of 2026. Current EBITDA amounts to €314.8 million (compared to €267.0 million), or 15.1% of revenue, compared to 15.2% a year earlier.
Net income attributable to the group stands at €26.2 million, up 17.0% compared to €22.4 million in the first half of 2025. Net financing charges increase by €4.2 million, to €15.1 million.
Cash generation of €264.8 million and debt leverage reduced to 0.6x
Cash generated by activities after operational investments reaches €264.8 million in the first half of 2026, up €108.9 million compared to €155.9 million in the comparable period. Net operational investments amount to €104.4 million, an increase of €25.2 million, of which more than 75% devoted to implementing projects to be launched in 2026 and 2027.
The pre-IFRS 16 debt ratio returns to 0.6x current EBITDA as of June 30, 2026, compared to 0.9x as of June 30, 2025. Net financial debt stands at €155.3 million, compared to €200.1 million as of December 31, 2025.
The group recalls that its model is traditionally characterized by more favorable seasonality in the second half, both in terms of profitability and cash generation. The next publication, covering third quarter 2026 revenue, is scheduled for October 21, 2026 after market close.
