First Read: ID Logistics Group "SMID Pan-European Conference 2026 - Feedback"

研报英文原文证据摘录

First Read: ID Logistics Group "SMID Pan-European Conference 2026 - Feedback"

Global Research

12 May 2026ab

First Read

EquitiesID Logistics Group

SMID Pan-European Conference 2026 - France

Feedback Transportation Services

12-month rating Buy

12m price target €505.00

ID Logistics at the SMID Pan-European Conference 2026

We hosted Yann Perot, Chief Financial Officer, at the SMID Pan-European Conference

today for group meetings. Price (12 May 2026) €350.50

RIC: IDLA.PA BBG: IDL FP

Key takeaways

Trading data and key metrics

Management highlighted a solid trading environment, with no cancellations or

52-wk range €462.50-310.00

postponements reported and good visibility to execute the 25 to 27 project launches

Market cap. €2.29b/US$2.68b

targeted for FY25. The US is expected to remain the primary growth engine, supported

by strong customer relationships, favourable competitive dynamics and continued Shares o/s 6.53m (ORD)

contract wins that underpin ongoing market share gains. M&A remains part of the Free float 47%

agenda, with management focused on selective acquisitions in specific verticals and Avg. daily volume ('000) 7.47

client niches, particularly in the US, targeting businesses not formally for sale and Avg. daily value (m) €2.6

describing the pipeline as active. FY25 capex and working capital usage were again Common s/h equity (12/26E) €0.72b

framed as structurally linked to growth and upfront investment for new site launches, P/BV (12/26E) 3.2x

especially in North America, rather than any shift in capital discipline, with capex Net debt to EBITDA (12/26E) 2.3x

intensity expected to remain broadly stable into FY26.

EPS (UBS, diluted) (EUR)

UBS Cons.

Please click here for the UBS Neo profile of ID Logistics. 12/26E 10.99 11.57

12/27E 12.86 13.75

12/28E 14.75 16.10