The Management Board of Inter Cars S.A. (the “Company”) hereby announces the Inter Cars Group’s preliminary estimated consolidated financial results for 2017.
In 2017, the Group earned preliminary consolidated revenue of PLN 6,908m and estimated net profit of PLN 216m, down by approximately 6% year on year.
The estimated financial result for Q4 2017 remained relatively unchanged on Q4 2016. Although distribution costs and administrative expenses were optimised in Q4 2017 to 14% of revenue, the operating margin declined due to exchange differences related to the appreciation of the złoty against the euro and depreciation of certain local currencies to the euro, particularly in Ukraine and Romania, as at December 31st 2017.
As at December 31st 2017, the Group’s estimated debt ratio, defined as net debt to EBITDA, was 2.96 and its estimated inventory levels were PLN 1,771m.
The Company further announces that details concerning the final results achieved by the Company and its Group in 2017 will be provided in the consolidated and separate periodic reports for 2017, which will be published on April 17th 2018.
Art. 17.1 of MAR − Inside information
- Krzysztof Soszyński - Vice President of the Management Board
- Piotr Zamora - Member of the Management Board