The Management Board of Inter Cars S.A. (the “Company”) hereby announces a preliminary estimate of the Inter Cars Group’s consolidated financial results for the third quarter of 2021. In the three months to September 30th 2021, the Inter Cars Group earned preliminary consolidated revenue of PLN 3,146m and estimated net profit of PLN 196. Detailed figures are presented in the table attached as an appendix to this report.
The Management Board is satisfied with the results, especially with high sales growth, accompanied by improved margins and a marked increase in net profit. In the opinion of the Management Board, the Group delivered strong performance in the third quarter of 2021 despite the continuing volatility in its economic environment, including the effects of the COVID-19 pandemic in Europe and beyond.
The Inter Cars Group's efforts have been focused on ensuring the availability of merchandise and optimisation of supply chains. The Management Board has also continued to monitor operating expenses and expenditure on ongoing projects, which has translated into a significant improvement in results.
The estimated inventory level at the Group was PLN 3,252m as at September 30th 2021, up by approximately 33% year on year. The rise in inventories slightly outpaced sales, reflecting the Group’s commitment to ensuring the availability of its entire offering throughout the last quarter of 2021 and in early 2022 even in case of disruptions in supply chains.
The Management Board further announces that details concerning the final results recorded by the Company and the Inter Cars Group in third quarter of 2021 will be provided in the relevant quarterly report to be published on November 18th 2021.
Inter Cars Group’s preliminary financial results for Q3 2021
| Q3 2021 (July–September 2021) | Q3 2020 (July–September 2020) | change | yoy | |
|---|---|---|---|---|
| revenue from sale of products, merchandise and materials | 3,145,824 | 2,491,779 | 654,045 | +26.2% |
| Net profit: | 195,967 | 88,305 | 107,662 | +121.8% |
Art. 17.1 of MAR − Inside information
- Piotr Zamora - Member of the Management Board
- Krzysztof Soszyński - Vice President of the Management Board