XPO Logistics annonce le dépôt d'une déclaration publique d'enregistrement du Form 10 pour GXO Logistics dans le cadre du projet de scission

Greenwich, Conn. | June 9, 2021

Relèvement des prévisions d'EBITDA ajusté pour l'exercice 2021

Communication d'objectifs pour GXO en 2022, avec notamment une croissance de l'EBITDA ajusté en glissement annuel de 14 % à 20 %

Objectif d'achèvement de la scission fixé au troisième trimestre 2021

Annonce de l'organisation de Journées investisseurs à New York et à Londres

XPO Logistics, Inc. (NYSE: XPO), a leading global provider of supply chain solutions, today announced the filing of a public Form 10 registration statement for GXO Logistics with the U.S. Securities and Exchange Commission. The Form 10 was filed in connection with XPO’s planned spin-off of its logistics segment into a separate publicly traded company. XPO expects to complete the spin-off in the third quarter of 2021, with GXO trading on the New York Stock Exchange, and is pursuing an investment-grade rating for both companies — GXO from day one, and XPO to follow.

In addition, the company filed supplementary financial information for GXO and XPO post spin-off. The Form 10 and supplementary financial information are available on the company’s website at xpo.com/investors.

Brad Jacobs, chairman and chief executive officer of XPO Logistics, said, “GXO’s Form 10 public filing is a key step forward in our spin-off plan. The separation will create two pure-play powerhouses in the supply chain industry, XPO in transportation and GXO in logistics, each with enhanced prospects for growth.”

Malcolm Wilson, chief executive officer of XPO Logistics Europe and planned CEO of GXO, said, “GXO will have accelerated momentum out of the gate as an independent company, as reflected in the strong 2022 guidance we issued today. Our growth is being driven by customer demand for outsourcing and for two areas of logistics where we hold leading positions — warehouse automation and e-commerce.”

Relèvement de l’objectif d’EBITDA ajusté pour l’exercice 2021

XPO a revu à la hausse ses prévisions d’EBITDA ajusté du deuxième trimestre 2021 à au moins 490 millions de dollars, porté par une performance supérieure aux prévisions dans son segment du transport. En conséquence, la société a relevé ses perspectives d’EBITDA ajusté pour l’exercice 2021 à une fourchette comprise entre 1,845 milliard de dollars et 1,895 milliard de dollars, contre un objectif précédent compris entre 1,825 milliard de dollars et 1,875 milliard de dollars.

La nouvelle fourchette indiquée pour l’EBITDA ajusté de 2021 est le reflet d’une hausse en glissement annuel de 32 % à 36 % par rapport à 2020, qui se décompose comme suit :

  • progression de 28 % à 32 % de l’EBITDA ajusté du segment logistique ;
  • progression de 32 % à 36% de l’EBITDA ajusté du segment transport.

Communication de perspectives pour l’exercice 2022 de GXO

La société a publié les perspectives préliminaires suivantes pour l’exercice 2022 de GXO, issu du projet de scission de son segment logistique, en partant de l’hypothèse d’une scission achevée en 2021 :

  • croissance organique du chiffre d’affaires de 8 % à 12 % par rapport au pro forma 2021
  • EBITDA ajusté compris entre 700 millions et 735 millions de dollars, reflétant une croissance en glissement annuel de 14 % à 20 % par rapport au pro forma 2021
  • EBITDAR ajusté d’environ 1,5 milliard de dollars

Annonce de Journées investisseurs

La société prévoit d’organiser une Journée investisseurs afin de discuter de la scission de GXO le mardi 13 juillet 2021 à New York, ainsi qu’à Londres à une date qui sera annoncée dès que les restrictions sur le trafic aérien le permettront.

Unveils gxo.com

The company has launched a new website that provides insight into GXO’s best-in-class capabilities by vertical and service offering. Investors, customers and the media can register for automatic updates on the latest GXO news and progress of the spin-off at gxo.com.

A propos de la scission de GXO

XPO prévoit de rendre indépendant son segment logistique au cours du troisième trimestre de 2021 sous le nom de GXO Logistics, créant ainsi deux entreprises de premier plan. La séparation donnerait naissance à des sociétés cotées indépendantes avec des identités d’investissement et des offres de services distinctes sur de vastes marchés exploitables. GXO sera la deuxième plus grande entreprise de logistique contractuelle au monde, et XPO sera un fournisseur de premier plan de services de transport, principalement en tant que transporteur de lots partiels et commissionnaire de transport. Pour plus d’informations, rendez-vous sur gxo.com.

Forward-looking Statements

XPO Logistics, Inc. (NYSE: XPO) provides cutting-edge supply chain solutions to the most successful companies in the world, with two business segments: transportation and logistics. The company helps more than 50,000 customers manage their supply chains most efficiently, using a network of 1,621 locations in 30 countries and approximately 140,000 team members, including 108,000 employees and 32,000 temporary workers. The company’s corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. Visit europe.xpo.com, et suivez-nous sur FacebookTwitterLinkedInInstagram et YouTube.

Non-GAAP Financial Measures

As required by the rules of the Securities and Exchange Commission (“SEC”), we provide reconciliations of the non-GAAP financial measures contained in this press release to the most directly comparable measure under GAAP, which are set forth in the financial tables attached to this release.

XPO’s and GXO’s non-GAAP financial measures used in this release include: adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”) and adjusted earnings before interest, taxes, depreciation, amortization and rent expense (“adjusted EBITDAR”).

Adjusted EBITDA includes adjustments for transaction and integration, as well as restructuring costs and other adjustments as set forth in the attached tables. Transaction and integration adjustments are generally incremental costs that result from an actual or planned acquisition, divestiture or spin-off and may include transaction costs, consulting fees, retention awards, and internal salaries and wages (to the extent the individuals are assigned full-time to integration and transformation activities) and certain costs related to integrating and converging IT systems. Restructuring costs primarily relate to severance costs associated with business optimization initiatives. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating XPO’s, GXO’s and each business segment’s ongoing performance.

Adjusted EBITDAR excludes rent expense from Adjusted EBITDA and is useful to management and investors in evaluating GXO’s performance because adjusted EBITDAR considers the performance of GXO’s operations, excluding decisions made with respect to capital investment, financing and other non-recurring charges. Adjusted EBITDAR is also a measure commonly used by management, research analysts and investors to value companies in the logistics industry. Since adjusted EBITDAR excludes interest expense and rent expense, it allows management, research analysts and investors to compare the value of different companies without regard to differences in capital structures and leasing arrangements.

With respect to XPO’s full year 2021 financial targets for adjusted EBITDA and GXO’s full year 2022 financial targets for adjusted EBITDA and adjusted EBITDAR, a reconciliation of these non-GAAP measures to the corresponding GAAP measures is not available without unreasonable effort due to the variability and complexity of the reconciling items described above that we exclude from these non-GAAP target measures. The variability of these items may have a significant impact on our future GAAP financial results and, as a result, we are unable to prepare the forward-looking statement of income and statement of cash flows prepared in accordance with GAAP that would be required to produce such a reconciliation.

Forward-looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including the statements above regarding plans, benefits and timing of the contemplated spin-off transaction. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,”

“will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the company believes are appropriate in the circumstances.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include the risks discussed in our filings with the SEC and the following: economic conditions generally; the severity, magnitude, duration and aftereffects of the COVID-19 pandemic and government responses to the COVID-19 pandemic; our ability to align our investments in capital assets, including equipment, service centers and warehouses, to our customers’ demands; our ability to implement our cost and revenue initiatives; our ability to successfully integrate and realize anticipated synergies, cost savings and profit improvement opportunities with respect to acquired companies; matters related to our intellectual property rights; fluctuations in currency exchange rates; fuel price and fuel surcharge changes; natural disasters, terrorist attacks or similar incidents; risks and uncertainties regarding the potential timing and expected benefits of the proposed spin-off of our logistics segment, including final approval for the proposed spin-off and the risk that the spin-off may not be completed on the terms or timeline currently contemplated, if at all; the impact of the proposed spin-off on the size and business diversity of our company; the ability of the proposed spin-off to qualify for tax-free treatment for U.S. federal income tax purposes; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; our substantial indebtedness; our ability to raise debt and equity capital; fluctuations in fixed and floating interest rates; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain qualified drivers; labor matters, including our ability to manage our subcontractors, and risks associated with labor disputes at our customers and efforts by labor organizations to organize our employees; litigation, including litigation related to alleged misclassification of independent contractors and securities class actions; risks associated with our self-insured claims; risks associated with defined benefit plans for our current and former employees; and governmental regulation, including trade compliance laws, as well as changes in international trade policies and tax regimes; governmental or political actions, including the United Kingdom’s exit from the European Union; and competition and pricing pressures.

All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law.

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