Price of Inter Cars Shares goes up because of high sales dynamics

The distributor of spare parts keeps his foot down on accelerator pedal. In September Inter Cars increased its sales revenue by 1/5. The result was supported by economic recovery and dynamic increase of sales revenue in foreign subsidiaries.

On Friday another company prepared a publication for investors, presenting the results for III Quarter and estimated sales results. Inter Cars revealed its results for September. Last month consolidated sales revenues amounted to PLN 301.1m, this gave a 20% dynamics YoY. The separate sales revenues amounted to PLN 267.5m, an increase of 21.9%. Sales in Poland reached PLN 188.9m (increase of 18.6% YoY). Total sales revenue of foreign subsidiaries amounted to PLN 80.8m (an increase of 32.9%). The biggest growth was recorded in Romania (+50.1%) and in Lithuania (+30.2%). Cumulatively from the beginning of the year the sales revenues of Capital Group after consolidation exclusions amounted to PLN 2,529.7m (an increase of 15.9%).

- High sales dynamics in the country is in our opinion the result of market recovery, and what is less significant, increase of market share. Among foreign subsidiaries still the biggest sales increase is recorded in Romania (cumulatively an increase by PLN 41m YoY) in case of which the main factor for increase of turnover is development of distribution chain and in consequence increase of share in the market. - says Michał Kujawski, an analyst from Trigon DM. 

In IIQ the revenue of the company went up by 25% YoY, to PLN 943m. The profit went up even higher by 67% to PLN 40m. In the full 1H 2013 Inter Cars recorded a sales revenue of PLN 1.6b. and profit of PLN 61.5m. A year before it was respectively PLN 1.4b. and PLN 48.4m. According to the Company, results were influenced by optimism of consumers and problems of the main competitor, quoted on Warsaw Stock Exchange, Fota company, which at the end of June applied for bankruptcy. The Board of Directors of Inter Cars on publishing the results for 1H 2013 stated that they are expecting to exceed the amount of PLN 3.4b. of revenue in the year 2013 and also want to keep the two-digit value of increase in the 2H 2013. In 2013 the consolidated sales revenue were just above PLN 3b. 

On Friday the price of Inter Cars shares went up by even 4%, bringing it closer to ever-high price recorded in August. Since the beginning of the year the rate of return on shares exceeds 100%.



source: www.wiadomosci.stockwatch.pl
11-10-2013