The exchange company of the year 2013 became the favourite company of investment funds, which also has hegemony on domestic market.
In the rank for 2008, Inter Cars, automotive spare parts distributor had place number 198, as its profits plummeted by half at that time. The punishment was severe – the share price went down from PLN 120 to just PLN 18 (a decrease by 85 percent). This was a failure quickly forgotten by investors - also those institutional ones, who settled in the shareholder's structure for good. 5-10 percent belong currently to Open Investment Funds: Aviva, ING, Amplico and Axa. The company is controlled by Krzysztof Oleksowicz (31.6 percent), who is the biggest asset of the company, according to analysts, advisors and investors surveyed by TNS Polska on order of “Puls Biznesu” newspaper. The company was also valued for good quality of products and services and perspectives of development. Experts have no doubts that previous year was a lucky streak. The winner of the rank should work on relations with investors – in this category the maximum mark is a four.
Landscape after Fota
The main market for the company remains Poland. In 2013 sales revenues went up by 16.5 percent. This is mainly thanks to taking market share from competitors. - Last year the company took advantage of Fota's problems in Poland. This was the main factor which caused such an increase of sales revenues, although development of product range was also not with no meaning – said Grzegorz Kujawski.
- After Fota went bankrupt, Inter Cars operates nationwide as the only one – emphasises Krzysztof Kuper, analyst of Ipopema Securities.
In his opinion, sales dynamics of the company in Poland in 2013 was also a result of low base, which was caused by postponed demand from 2012. Because of not stable economic situation, car owners postponed repairs of the cars which could still be driven. In 2014 this will not be repeated. The company also has no chance to develop their distribution chain. It can take advantage of market recovery which forces people to run their vehicles in a more intensive way and develop the product range. This could result in sales increase of around 8 to 10 percent.
Eastern risk
In February 2014 the sales revenues of Inter Cars went down by 9.1 percent in Italy and by 4.4 percent in Ukraine. And Ukrainian – Russian conflict is the biggest threat for the results of the company in 2014. Ukrainian subsidiary of Inter Cars generated in 2013 almost 19 percent of sales revenues of the group, that is PLN 136m. And that is not all.
- Inter Cars has no distribution chain in Russia, and customers from there come to Poland to buy goods. Ukraine and Russia generate around PLN 300m in sales revenue altogether. If this sales was cut, this would result in around PLN 10m less in net results. The company would also net reach PLN 4bn in sales revenues in 2014. This does not mean that it would not grow. Sales revenues increase would be generated in other foreign markets, mostly in Romania, Czech Republic and Slovakia – said Grzegorz Kujawski, analyst og Trigon BH.
In 2013 all foreign subsidiaries generated only around 30 percent of total sales revenues of the Group. The increase in 2012 was equal 28.1 percent.
Not typical warehouse
Despite high sales dynamics, investors cannot count on substantial profits. At the beginning of March the Board suggested a dividend of PLN 0.7 per share, which was equal 0.3 percent dividend, taking into consideration the share price at that time. The Board explained that low dividend is caused by investment in logistic-warehouse centre in Zakroczym, nearby Warsaw. It is supposed to consume PLN 155m, and PLN 120m will be spend in 2014 and 2015. Inter Cars wants to deliver storing and warehousing services for its suppliers in these premises. This would improve cash flow of the company.
- It is really hard to say if it is going to work, as I do not know any other distributor trying to do something like that. Taking into consideration the quality of management and historical achievements of the company, the probability of success of this entrepreneurship is quite high – comments Krzysztof Kuper.
- This is a very interesting project. This causes the fact that the company is using manufacturer’s stock in its own warehouse and this in turn results in limiting the working capital involved in the stock – emphasised Grzegorz Kujawski.
source: www.gsr.pb.pl
31-03-2014
In our rank you can see that stock exchange is alive. Only two companies which were in the top ten in 2012 stayed there.
How to compare the ranks of Stock Exchange Company of 2013 with previous year's edition, when the general landscape is like after an earthquake. Only two companies stayed in the top ten. This year’s winner – Inter Cars, last year was in the sixth place. Whereas last year’s winner – clothing LPP – fell down to eight position. The rest was completely changed.
source: Puls Biznesu
01-04-14
This was a year of challenges for Polish companies. Still not best economical situation in the country and difficult situation in most European markets demanded increased efforts in order to increase the quality of products and put more emphasise on sales promotion, struggling with still low demand. The last crisis proved that companies with strong financial position and efficient internal organization can deal good even in difficult market conditions and can take market share from their competitors. The companies honoured this year by “Puls Biznesu” are a perfect example of this.
Inter Cars company, which won this year’s edition of the Stock Exchange Company of the Year rank, in 2013 generated record results.
The company strengthened its leading position in automotive aftermarket distribution. This was all thanks to growing sales revenues in foreign subsidiaries operating in the region of Middle and Eastern Europe, but also thanks to taking a share of the market from FOTA company, which went bankrupt. The company proved that it can build long-lasting and effective mutual relations with its partners, mostly spare parts distributors and servicing garages. Creating unique solution for servicing final customers (end users) should also open new markets for the Company and let it strengthen its position on the market.
(…) Bigger and bigger number of domestic companies, not only those from the top of the rank, is realizing a strategy of foreign expansion.
Instead of looking for foreign strategic investors, our domestic companies focus on running business outside Poland, by taking over some local companies or building a market share using their own resources.
Since the beginning of this year we can observe signals which prove that economy is recovering and investment activities of Polish entrepreneurs abroad is getting bigger. Banks are to play important part in increase of national investment. Delivering capital by different forms of financing – credits, leasing or invoicing – we are operating as a partner for the companies and we are helping them to stimulate their growth.
Andrzej Gliński – Member of the Board of Millenium Bank.
source: Puls Biznesu
01-04-14
Last year was a bit easier than the previous one for the companies. This was influenced by quarterly better and better macroeconomic conditions in Poland and in whole Europe. Nevertheless it was still economically difficult year. What influenced development of companies at that time, was persistence in realization of strategy, quality of management and introducing new solutions and products, courageous takeovers and international expansion. Such activities were honoured by the experts in Stock Exchange Company of the Year rank.
In last decade Inter Cars performed great work and reached measurable success, especially within last 5 years. In 2009 consolidated sales revenues of the company were PLN 2bn, and net profit was PLN 68m. Four years later sales revenue were more than PLN 3.5bn, and net profit went up to PLN 150m. Unfortunately there aren’t many examples of companies which several years ago were starting from the very beginning, and then, almost unlimitedly, in the last decade reached billions of sales revenues. What is more, everything seems to be proving that Inter Cars will not rest on its laurels. After becoming a leader on domestic market, the company has a perspective of trying what other companies are doing, that is international expansion. This will not be an easy way, but results reached till today by the automotive spare parts distributor let us believe that it will work on a longer run.
(…) Summarising, there are many companies on Warsaw Stock Exchange which have very good financial results, are wisely managed, realize their well chosen strategy and what is even more important, they are constantly working on increasing their share value for investors. Only such effects on a longer run can confirm competence of Management of the companies. For most companies listed on WSE, after they had reached a success on Polish market, key issue will be realizing an international strategy, if they wish to keep the pace of their development.
Sebastian Łyczba – Partner and Public Markets Department Manager in EY.
source: Puls Biznesu
01-04-14
The elite of Polish Stock Exchange was honoured with rewards in the rank of Stock Exchange Company of the Year on Monday evening.
Managers of companies, managing investment funds, analysts, investors and representative of Treasury and partners of the rank were hosted at the great gala, during which, on Monday evening, the editing team of Puls Biznesu handed rewards to the best Stock Exchange companies listed on WSE. The winner of the rank was Inter Cars – automotive spare parts distributor.
- The reward makes us happy, first of all because we were recognized by analysts and financial advisors, that is the most demanding market players – said Piotr Zamora, Financial Director of Inter Cars. Stock Exchange Company of the Year is the oldest and the most prestigious rank of listed companies, organized by editing team of Puls Biznesu for 15 years now. Over 120 experts, questioned by TNS Poland, assessed the level of competence of Management, perspectives of development, successes in 2013, relations with investors and quality og goods and services. The rank included over 200 listed companies.
source: www.pulsbiznesu.pb.pl
02-04-2014
Inter Cars SA was chosen the best Stock Exchange Company of the Year 2013, according to rank made by Puls Biznesu magazine. Stock Exchange Company of the Year is the oldest and the most prestigious rank of listed companies, organized by editing team of the Magazine for 15 years now.
The editing team of “Puls Biznesu” handed rewards to the Best Stock Exchange companies listed on WSE during a solemn Gala (31st March 2014), hosting the managers of companies, managing investment funds, analysts, investors and representative of Treasury and partners of the rank. The winner of the main rank is Inter Cars SA.
Stock Exchange Company of the Year is the oldest and the most prestigious rank of listed companies, organized by editing team of Puls Biznesu for 15 years now. Over 120 experts, questioned by TNS Poland, assessed the level of competence of Management, perspectives of development, successes in 2013, relations with investors and quality of goods and services. The rank included over 200 listed companies.
-“The reward makes us even more satisfied because we won recognition from analysts and investment advisors, that is the most demanding participants of the market. Additionally Inter Cars SA won third place in “Management competence” category and “Success of 2013” category. - said Piotr Zamora, Financial Director of Inter Cars SA, representing the Company during the Gala.
Inter Cars SA won recognition for great work performed in the last decade, and especially over the last 5 years, which resulted in measurable benefits. In 2009 consolidated sales revenues of the company were PLN 2bn, and net profit was PLN 68m. Four years later sales revenue were more than PLN 3.5bn, and net profit went up to PLN 150m. This is an example of a company, which started from the very beginning on the break of 80s and 0s, and thanks to constant development reached billions in sales revenues in the last decade.
The rank was made on order of “Puls Biznesu” magazine. TNS Polska surveyed 120 specialists, who have influence on the decisions of investors – analysts, advisors and brokers. They assessed stock exchange companies in the following categories: management competence, product and service quality, investors’ relations, perspectives of development. On the basis of assessments in five categories, the main rank was created. Respondents represent brokerage houses, insurance companies, investment funds and pension funds, capital departments, capital departments of banks and consulting companies from the whole country. 124 respondents took part in the survey conducted in January and February 2014 – 58 analysts, 24 advisors and 42 brokers. The participants assessed on average 18 companies, which were chosen in such a way, to fit best the scope of work that the respondent performs on a daily basis. The final rank included those companies, which were assessed by at least 2 or 3 experts. The marks were given in a 7-degree scale, following the rule: the better the assessment, the bigger number of points went for the company. The results of the survey were later ordered by the average value of assessment.
source: www.motofocus.pl
08-04-2014
The biggest automotive spare parts distributor for passenger cars and commercial vehicles in Poland became the Company of the Year in the rank of Puls Biznesu magazine.
Inter Cars also won leading positions in three other categories: "Perspectives for Development”, “Competence of Management” and “Success 2013”.
The rewards in each category were handed in during a solemn Gala, which took place on 31st March 2014, in the Great Theatre in Warsaw. The guests of the Gala were managers of companies, managers of investment funds, analysts, investors and representatives of the Ministry of Treasury, together with partners of the rank. Winners were rewarded in 5 categories: “Competence of Management”, “Relations with Investors”, “Quality of products and services”, “Perspectives for Development", "Success 2013", and also in so called main rank.
The unquestioned leader of the main rank was Inter Cars Company, which won the title of the Stock Exchange Company of the Year. But this is not all. Experts of the market also appreciated the Board of Managers, possibility of its further expansion and ongoing successes.
Inter Cars SA won the first prize in “Perspectives for development” category. Independent analysts, advisors and stock brokers decided that the company feels the market, takes right decisions and is innovative, as well as recognises market niches. The company was also in the third position in “Success 2013” and “Competence of Management” ranks.
Jury giving assessment in “Success 2013” category paid attention to increasing the market share of the company, winning new markets, contracts and initiatives and spectacular achievements, thanks to which the company was talked about. Less important were the financial successes or ratio of return on investment. The reward in category of “Competence of the Management” was given for activities of the Board in 2013, communication with the market and keeping promises and obligations.
- The reward makes us happy, first of all because we were recognized by analysts and financial advisors, that is the most demanding market players – said Piotr Zamora, Financial Director of Inter Cars SA, representing the company during the Gala.
In 2013 the sales revenues of Inter Cars SA went up by 16.5%. Such result can let us think about sales revenues increase in 2014 of around 8-10%. The company was appreciated for its activities performed especially during the past five years. In 2009 consolidated sales revenues of the company were PLN 2bn, and net profit was PLN 68m. Four years later sales revenue were more than PLN 3.5bn, and net profit went up to PLN 150m.
Inter Cars SA is an example of a company, which started from the very beginning on the break of 80s and 90s, and thanks to constant development reached billions in sales revenues in the last decade.
After becoming a leader on domestic market, the Company has a perspective of international expansion.
This is not an easy way, but development of foreign branches brings great opportunities for Inter Cars SA to be successful also in this area.
One of the most important issues at the moment is building a warehousing-logistic centre in Zakroczym nearby Warsaw. The investment is supposed to cost PLN 155m, and PLN 120 will have to be spent in 2014 and 2015.
The company also wants to strengthen its position in the market of spare parts for commercial vehicles.
Stock Exchange Company of the Year is the oldest and the most prestigious rank of listed companies, organized by editing team of Puls Biznesu for 15 years now.
Over 120 experts, questioned by TNS Poland, assessed the level of competence of Management, perspectives of development, successes in 2013, relations with investors and quality of goods and services.
The rank included over 200 listed companies.
Puls Biznesu interviewed those, who have big influence over investors’ decisions. Respondents represent brokerage houses, insurance companies, investment funds and pension funds, capital departments, capital departments of banks and consulting companies from the whole country.
Each participant assessed on average 18 companies, which were chosen in such a way, to fit best the scope of work that the respondent performs on a daily basis. The final rank included those companies, which were assessed by at least 2 or 3 experts.
The marks were given in a 7-degree scale, following the rule: the better the assessment, the bigger number of points went for the company. The results of the survey were later ordered by the average value of assessment.
source: www.4trucks.pl
14-04-2014