The Board of Managers of Inter Cars expects to exceed PLN 3.4b in sales revenues this year, whereas last year the company reached PLN 3b. The result shall be reached thanks to dynamically developing and growing sales of foreign distribution subsidiaries which are operating on several foreign markets in the region – informed Krzysztof Soszyński, Vice President of the Company.

In an interview with “Gazeta Giełdy Parkiet", Soszyński informed that the strategy of expansion into emerging markets of Europe seems to work very well, and 2013 is heading to be a record breaker for the Group as regards sales revenues.

“Management Board of Inter Cars expects to exceed PLN 3.4 b in revenues. In 2012 the company generated PLN 3b in revenues.” – wrote the daily paper.

The result is mainly thanks to increasing sales in foreign daughters which are operating on several foreign markets of the region. Their revenues for three quarters went up by 26.2% YoY, when the domestic sales went up only by 14.4%. Sales on Polish market is two thirds of total revenue of the Group, but this share is constantly decreasing.

“Romania and Lithuania proved the most interesting of all our markets. The former was able to keep the growth thanks to its extensive branch chain, while the latter proved the most profitable of all our foreign companies. As far as Croatia is concerned, we expect its sales to grow following the country’s accession to the EU” – emphasised Soszyński.

Growth of sales revenue was also stimulated by bankruptcy of FOTA Group, which caused that the demand for the parts was transferred to other market players.

“We still aim to develop in Central Europe, because markets which are located here have a much higher potential than in Western Europe. We are not planning any takeovers. We put emphasise on development of our distribution chain and new sales segments” - assured Soszyński.

Between 1Q and 3Q 2013 the Company generated a consolidated net profit assigned to shareholders of the parent entity amounting to PLN 111.58m, in comparison to PLN 72.12m profit for the same period a year ago, at sales revenue of PLN 2,572.57m this year, from PLN 2,217.35m a year before.

Inter Cars S.A. is the biggest distributor of spare parts for passenger cars and trucks in Central and Eastern Europe. The company went public on Warsaw Stock Exchange in 2004.

Source: www.pulsinwestora.pb.pl
21-11-2013

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