Letter from the Chairman

Letter from the Chairman

Dear shareholders,

It is my pleasure to present to you Logista’s Integrated Annual Report for 2021 which sets out the Group’s main activities and results for the financial year. In addition to financial information about the Company’s performance, the report provides details about Logista’s environmental commitment and its social initiatives.

The data in this report reflects what has been, without doubt, an extraordinary year due to the impact that COVID-19 has had on all the markets we operate in. Against this complex backdrop, Logista has continued to serve its clients and society in what have been challenging circumstances by keeping its operations up and running at all times and helping to ensure the general public’s needs are adequately provided for. And it is the hard work and commitment of everyone in the Company that has made this possible. Thanks to each and every one of them, and to the Group’s vision and commitment, Logista has been instrumental in helping other sectors remain operative.

I think it is also particularly important to highlight the vital role that Logista has played in vaccination programmes by working with several public authorities to store and distribute COVID-19 vaccines. Something that everyone at Logista is extremely proud of.

All of these achievements are thanks to the collective effort of everyone at Logista and testament to the company’s resilience – qualities that have allowed us to record a sound economic performance and very strong financial results despite such difficult circumstances. In this regard, sales, operating results and net income registered growth in this financial year.

As you will see, not only have we carried on conducting our business operations, but we have also continued to develop and expand – continuing to build a forward-looking Company. In short, we have continued to build a company with a vision of the future, a future that requires greater dynamism and agility. With this in mind, we have rebranded to bring the Company’s visual identity into line with its new reality and the future that lies ahead – one that I am in no doubt will be filled with every success.

I would also like to give a special mention to other corporate governance milestones achieved by Logista this financial year, thanks to the hard work and dedication of the Board of Directors. Firstly, a rigorous review of the Company’s internal rules and regulations was undertaken to both streamline processes and improve best practices in corporate governance, resulting in new Articles of Association and new Annual General Shareholders’ Meeting Regulations being presented and approved at the last Annual Shareholders’ Meeting.

We have also strengthened the Company’s commitment to gender diversity by amending the Board of Directors Regulations to ensure that at least 40% of Board members are of the least represented gender. We have also taken this into account when appointing new members to the Board during the year to ensure this percentage is upheld.

Finally, I would also like to take this opportunity to mention the importance Logista places on its commitment to social responsibility and the environment. I am delighted to report that for the fifth year running, the Company has been included on CDP’s prestigious global sustainability A List in recognition of its leadership in the fight against climate change. This year it has also been recognised as a Supplier Engagement Leader by CPD.

For an in-depth account of all these matters, please consult this Integrated Annual Report, the Annual Corporate Governance Report and the Annual Board Remuneration Report.

I would like to close by extending my thanks once again to the whole team whose hard work makes Logista a leading player in the logistics sector, and to our suppliers and clients with whom we have built up a relationship of trust out of a shared focus on growth.

Lastly, I would also like to thank you, the shareholders, for your continued commitment to Logista and our team. You can rest assured that we will continue to work tirelessly to improve all aspects of our business and consolidate the company’s position as Southern Europe’s leading distributor.

Gregorio Marañón

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