The Management Board of Inter Cars S.A. (the “Company”) hereby announces the Inter Cars Group’s preliminary estimated consolidated financial results for 2019.
In 2019, the Group earned preliminary consolidated revenue of PLN 8,764m and estimated net profit of PLN 227m, up by approximately 2% year on year.
The Group’s preliminary estimated consolidated net profit for Q4 2019 was PLN 46m, up 9% on the Q4 2018 figure.
In the opinion of the Company’s Management Board, the Group’s performance in 2019 should be considered positive. The Management Board is satisfied with the revenue growth and profit dynamics. A number of internal processes of key importance to customer service were streamlined, inventory turnover was improved, inventory levels were reduced, and the Group’s debt ratio (net debt to EBITDA) was lowered.
Late 2019 and early 2020 saw completion of the extension of the central warehouse in Zakroczym, which the Management Board expects to have a positive effect on the Company’s performance in 2020.
As at December 31st 2019, the Group’s estimated debt ratio, defined as net debt to EBITDA, was 2.8. The estimated inventory level at the Group was PLN 2,063m as at December 31st 2019, down approximately 6% year on year.
The Company’s Management Board further announces that details concerning the final results achieved by the Company and its Group in 2019 will be provided in the consolidated and separate periodic reports for 2019, which will be published on April 17th 2020.
Article 17(1) of MAR − Inside information
- Krzysztof Soszyński - Vice President of the Management Board
- Piotr Zamora - Member of the Management Board