The biggest Polish distributor of automotive spare parts has announced further growth of revenues. - We expect that turnover of Inter Cars this year shall grow at a double-digit level, although it will rather be increase of several percent than close to 20 percent. - said Piotr Zamora, CFO of Inter Cars.

Investment in logistics

With growing sales the Company begins to feel lack storage area. In order to keep the pace of development Inter Cars plans to increase investment in logistics. They are supposed to double the storing area within one year. The investment plan for 2014 includes the commencement of construction of a warehouse and Logistics Centre. Construction is going to cost over PLN 150m. - In the first stage, this and next year, we shall invest approximately PLN 120 million, thanks to which we shall build a warehouse of 40 thousand square meters - explained Zamora. The new centre is supposed to take over most of logistic operations of the Group in Poland and Europe.

By decision of the government, the land in Zakroczym, on which the new logistic centre of the Group is to be built, will be included in Warmian-Mazurian Economic Zone. Start of the investments was dependent on the consent for performing operations in the zone. - We hope that we will receive the consent by the middle of the year. Than immediately we shall start investments so that its completion is possible in August or September 2015 - emphasized Zamora. He added that the company will finance the investment from its own resources and loans.

Sales will increase

In the assessment of the Board of Inter Cars, launching the warehouse will give the Group an impulse for further increase. Thanks to the investment, the Company expects to increase its annual revenues to PLN 6 billion in the next few years. For comparison in 2013 turnover amounted to PLN 3.5 billion.

The company still wants to grow in the markets of Central and Eastern Europe, which in the assessment of the Board have the best growth prospects. This is confirmed by the results of sales in foreign distribution companies. Their sales revenue (outside Poland) for the period of between January and May went up by 24.3 percent in comparison to the same period a year ago. Domestic sales went up by 18 percent in the same period. The companies operating in Hungary, Bulgaria and Romania recorded the biggest sales revenues increase outside Poland.

Analysts' estimates assume that in 2014 the Company, as in the previous year, shall reach a two-digit growth. They expect that sales revenues might reach a record of PLN 4 billion.

source: Parkiet
05-06-2014
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