Public offering of 3LP shares will start on May 9, the company wants to raise about PLN 104 million – Inwestycje.pl

The public offering of up to 15.9 million new Series E shares (representing 21.2% of the share capital after the increase) of 3LP will begin on May 9 with the publication of the maximum price, the company announced. company in its prospectus. The intention of the company is to obtain revenues from the offer of a gross amount of approximately PLN 104 million.

The public offer concerns only a new issue of shares. Currently, the sole shareholder of the company is TIM.

“Provided that all the newly issued shares are issued and acquired by investors, after the offer, they will constitute 21.2% of the share capital of the company, thus giving the right to 15,900,000 votes representing 21.2% of the number total votes at the general meeting. The company and the controlling shareholder have entered into a lock-up agreement for a period of 360 days from the date of the first listing of the shares,” reads the prospectus announcement.

The timing of the offering foresees that the acceptance of subscriptions from retail investors as well as the bookbuilding among institutional investors will take place from 10 to 17 May. The final number of shares offered, the number of shares offered to each category of investors and the final price of the shares offered are scheduled for May 17. Subscriptions from institutional investors will be accepted from 18 to 23 May. The allotment of the shares is scheduled for May 27 and the first day of the company’s trading rights to the shares on the WSE – about two weeks later.

“The intention of the company is to obtain revenues from the offer of a gross amount of approximately PLN 104 million. The purpose of the offer is to obtain funds from the company, which the company plans to use for the further development of its activities, by:

• Further material investments in the area of ​​warehouse automation and other equipment, IT equipment improving work efficiency and ergonomics, which will enable the target increase in revenue per square meter in the new Siechnice warehouse with an area of ​​about 25 thousand. m2. The company intends to allocate approximately 52 million PLN for this purpose;

• Development of managed warehouse space by opening new branches and expanding existing ones. The Management Board also actively analyzes entities operating in the field of logistics, whose main customers are companies in the e-commerce segment. If investment opportunities arise, the company can allocate part of the funds to purchase shares of companies in the e-commerce logistics sector. The company intends to allocate approximately PLN 40 million for this purpose;

• Investments in the protection of the environment in the field of green energies via the purchase of shares, a photovoltaic park of 2MW corresponding to the annual energy consumption of the company or the conclusion of a cPPA (corporate Power Purchase Agreement) long term for the supply of electricity from a Producer of RES (renewable energy sources) in the volume that covers the needs of the company and recycling through the purchase of ‘devices for the reuse of waste, for which the company intends to spend around PLN 8 million,’ the statement read.

The 3LP strategy is focused on the continued dynamic development of business in the segment of comprehensive and automated fulfillment services for companies active in the e-commerce sector, thanks to the further increase in managed warehouse space, improved efficiency resulting from increased automation and optimization of logistics. process, as well as expanding the customer base and offering new added services.

“3LP has a pipeline of advanced discussions with new customers in the aforementioned warehousing space, as well as expecting new ones through potential acquisitions or further opening to the German market. The company’s strategic goal is to be a leader in the e-commerce logistics services industry in Central and Eastern Europe. The implementation of the 3LP strategy is expected to triple the scale of operations by 2023 thanks to the dynamic growth of the total managed warehouse space and full automation “- we read further.

3LP’s most important customers are: TIM, IKEA and Oponeo.pl. The company operates logistics centers with a total area of ​​81.5 thousand square meters. m2, located in Siechnice, Wojkowice and Krajków (southeast of Wrocław).

“We operate under the ‘asset light’ model – we incur no expense for building warehouses, and we can focus on equipping them with more modern automation increasing the efficiency of logistics processes, enabling dynamic operational scale, adapting activities to market conditions and increased efficiency Since the beginning, 3LP has grown dynamically – and only since 2018 revenues have almost doubled and the EBITDA result has increased 3 times Our strategy is to continue the dynamic development of the business, including through the funds obtained from the show.We expect that by the end of 2023 we will be managing around 240,000 m2 of warehouse space – nearly three times more than today. In addition, an increasing part of the managed space will be fully automated,” President Maciej Posadzy said in the statement.

“We also plan to expand into new markets, with the German market being particularly buoyant. We are currently working on the preparation of a communication and marketing strategy related to the acquisition of customers in this market. On the other hand, the opening of a logistics center in Słubice, dedicated to e-commerce in Germany, is planned for the second half of 2023. Another element of our strategy are acquisitions – we are currently analyzing investment opportunities in foreign and Polish companies providing comprehensive services for e-commerce “- added the President.

He also pointed out that the war in Ukraine does not directly affect the 3PL business. It has no customers in the markets of Russia, Belarus and Ukraine and does not ship there.

3LP’s revenues in 2020 amounted to PLN 114.7 million (+32.5% y/y), while in the three quarters of 2021 they reached the level of PLN 102.5 million (+ 27.7% y/y). Cumulatively, for the four quarters ended September 30, 2021, 3LP’s revenue reached PLN 137 million (including PLN 106 million from fulfillment services).

EBITDA profit in 2020 amounted to 24.8 million PLN (+52.6% y/y), after three quarters of 2021 it amounted to 27.5 million PLN (+64.1% y/y) /has). Cumulatively, for the four quarters ended September 30, 2021, EBITDA was PLN 35.5 million.

At the level of the net result in 2020, 3LP recorded a loss of PLN 3.3 million. In the three quarters of 2021, the net profit amounted to PLN 7.1 million. Cumulative net profit for the four quarters ended September 30, 2021 was PLN 7.2 million.

In 2020, 3LP prepared and shipped 4.51 million packages, an increase of more than 44% compared to 2019. Over the three quarters of 2021, the number of packages delivered amounted to 3.7 million.

3LP specializes in providing automated logistics services to entities in the e-commerce industry. The company was established in March 2016.

Source: ISB news

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