Logista Integral (LOG) Q2 2026 earnings summary

Executive summary

• Revenues rose 2.6% year-over-year to €6,594 million for H1 2026, driven by growth in Iberia and Italy, while France saw declines.

• Net profit declined 9.9% year-over-year to €136 million, mainly due to lower profit on inventory and reduced financial income.

• Solid underlying performance in pharma and tobacco segments, with resilience excluding the profit on inventory effect.

• Ongoing commitment to ESG and progress on sustainability and diversity initiatives, including expanded recycling and increased female representation.

• Defensive business model and inflation-linked clauses helped mitigate macroeconomic risks, including those from geopolitical tensions.

Financial highlights

• Total revenues reached €6,594 million, up 2.6% year-over-year; Economic Sales were €904 million, down 1.3%; Adjusted EBIT was €195 million, down 3.5%.

• EBITDA was €251 million, down 4% year-over-year; free cash flow was negative at €536 million, reflecting seasonal working capital outflows.

• Earnings per share for the period were €1.03, compared to €1.14 in the prior year.

• Adjusted EBIT margin on Economic Sales was 21.6%, down 49 basis points year-over-year.

• Effective tax rate increased to 27.1% from 25.8% in H1-2025.

Outlook and guidance

• Guidance for FY2026 is reiterated: mid-single-digit growth in Adjusted EBIT, excluding profit on inventory.

• Dividend per share for 2026 is expected to be at least €2.09, matching 2025 and 2024 levels.

• Continued focus on small and mid-size acquisitions for diversification and growth.

• Commitment to shareholder remuneration and disciplined cost management.