INTERCAR Q1 Report 2024
- In 1Q 2024, the Group recorded an 18,8% growth of consolidated sales revenues compared to the same period of 2023.
- Export sales understood as sales by the overseas distribution companies, and direct sales by Inter Cars S.A. to foreign clients increased by nearly 6% compared to the analogous period a year ago. In 2024, the Group continued to further strengthen its foreign expansion, both in countries where it develops sales based on a chain of branches and in countries where it sells directly to customers (without an existing distribution network). In foreign daughter companies, 17 new branches were opened in the last 12 months.
- The revenues of Inter Cars at home accounted for approx. 40.2% (39.5% in the first quarter of 2023), of the total revenues of the Capital Group (taking into account consolidation exclusions). The foreign companies‟ share in the distribution activities decreased from 50.7% in the 1st quarter of 2023 to 50.4% in the 1st quarter of 2024. The Polish market remains the basic sales market for the Capital Group.
- Consolidated margin on the sale of goods is 2.2 percent points lower compared to the year before, amounting to 27.9%. In Q1 2024, the impact of exchange rate differences on the percent margin was 0.6 p.p., while in the corresponding period of 2023 it was 0.3 p.p. Comparing the level of gross percent margin, if we eliminate the influence of these exchange gains/losses on the margin, it would amount to 28.5% in the first quarter of 2024, and was 1.3 percent lower in comparison to the same period a year before. The strengthening of the Zloty against the Euro in the first quarter of 2024 had a significant impact on the reduction of gross profitability on sales, which resulted in a downward pressure on margins.
