The Management Board of Inter Cars S.A. (the “Company”) hereby announces the Inter Cars Group’s preliminary estimated consolidated financial results for 2020.
In 2020, the Inter Cars Group earned preliminary consolidated revenue of PLN 9,162m and estimated net profit of PLN 333m, up by approximately 46% year on year.
The Inter Cars Group’s preliminary estimated consolidated net profit for the fourth quarter of 2020 was PLN 110m, up by approximately 141% year on year.
The Management Board of Inter Cars S.A. is satisfied with the results, especially with the net profit growth in 2020. In the opinion of the Company’s Management Board, 2020 should be considered a good year in the Group’s operations despite the pandemic caused by the global spread of the SARS-CoV-2 virus. As a result of decisions made by the Management Board, operating costs were optimised and spending on ongoing projects and marketing activities was reduced, which had a positive effect on the results achieved by the entire Group. In addition, the Group improved its cash conversion cycle, reducing its financial debt measured by the ratio of net debt to EBITDA.
As at December 31st 2020, the Group’s estimated debt ratio (net debt to EBITDA) was approximately 1.7.
The estimated inventory level at the Group was PLN 2,212m as at December 31st 2020, up by approximately 7% year on year.
The Company’s Management Board further announces that details concerning the final results recorded by the Company and the Inter Cars Group in 2020 will be provided in the consolidated and separate periodic reports for 2020, which will be published on April 21st 2021.
Article 17(1) of MAR − Inside information
- Krzysztof Soszyński - Vice President ofthe Management Board
- Piotr Zamora - Member of the Management Board