REG - Inchcape PLC - Q3 2025 Trading Update

InchcapeAnnouncement

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RNS Number : 4708E  Inchcape PLC  23 October 2025

23 October 2025

Inchcape plc, the leading global automotive distributor, announces its Q3
trading update covering the period from 1 July to 30 September 2025

Q3 2025 trading update

Performance on track, FY 2025 guidance reiterated

 

Duncan Tait, Group Chief Executive, commented:

"We are pleased with our performance in the third quarter, which was in line
with our expectations.  Inchcape's organic revenue growth was supported by
market growth, a contribution from distribution contract wins and on-going
product launches.  We also continued to make progress against our Accelerate+
strategy, further scaling the Group through the acquisition of Askja in
Iceland, an exciting new market for Inchcape, and a number of distribution
contract wins.

"We are maintaining a disciplined approach to capital allocation, with good
progress on our £250m share buyback programme and a healthy M&A pipeline.
Inchcape's performance during the third quarter demonstrates our ability to
execute on our Accelerate+ strategy, further supporting our confidence for
another year of growth in FY 2025, in line with our medium term target to
deliver EPS CAGR of more than 10%."

 

Key highlights:

·      8% organic revenue growth(1), against softer comparators, in line
with our expectations:

§ Inchcape volumes up 13%, against Inchcape TIV(2) growth of 5% (versus (2)%
Inchcape TIV decline in H1 25)

§ Q3 Group revenue of £2.3 billion, up 7% at constant currency and on a
reported basis

§ Supported by market growth, distribution contract wins and on-going product
launches

o  Regional trading update:

§ Americas: the market continues to improve, with our performance ahead of
the market

§ APAC: improving performance relative to H1, product launches on track, with
continued headwinds in Asia

§ Europe & Africa: maintaining positive momentum and market
outperformance

 

·      Inchcape executing against Accelerate+ strategy, with disciplined
capital allocation:

o  Further success in scaling our business, with continued contract portfolio
optimisation:

§ Additional distribution contract win - GAC AION in Greece

§ Mutual exit of immaterial distribution contracts - Geely in Ecuador,
Guatemala and El Salvador, and DFSK in Honduras

o  Continued progress in optimising our business:

§ Disposal of non-core retail-only business in Australia, which represents
c.£100m in annualised revenue

o  Disciplined capital allocation supported by Inchcape's strong cash
generative nature and robust balance sheet:

§ Completed Askja acquisition, with M&A pipeline remaining healthy

§ Continued progress with £250m share buyback programme

 

·      FY 2025 outlook reiterated:

o Continue to expect another year of growth, at prevailing currency rates,
including impact of tariffs

o Stronger H2 2025 growth, compared to H1 2025, underpinned by:

§ Product launches that are progressing in line with expectations

§ On-going focus on managing costs, inventory and working capital, including
further optimisation of the Group's retail network

o  Higher EPS growth, relative to profit growth:

§ Driven by operating performance and capital allocation

§ In-line with medium term target of >10% EPS CAGR

 

 Q3 2025 revenue YoY%      Constant FX  Organic(1)      Reported
                           Q3           Q3      YTD     Q3
 Group(1 )                 7%           8%      0%      7%

 (continuing operations)

( )

1: Organic growth is defined as sales growth in operations that have been open
for at least a year at constant foreign exchange rates. In 2024 we disposed of
a non-core retail aftersales business in the Americas and has therefore been
removed from the comparative period.

2. Total Industry Volumes in Inchcape markets, excluding Thailand and
Argentina, which are substantial markets where Inchcape volumes are immaterial

3. In addition to this press release, we have published Q3 25 market data
which can be found on our website. Link: Results, Reports + Presentations -
Inchcape.

Conference call today

A conference call for analysts and investors will be held today, Thursday
23(rd) October, at 08:30 (UK time).

Dial-in details: +44 (0) 33 0551 0200

Password (if prompted): Quote 'Inchcape Q3 Results' when prompted by the
operator.

Webcast details: To register for the webcast of the event please follow this
link (https://brrmedia.news/INCH_Q325) . A replay of the call will be
available via the Company's website, www.inchcape.com
(https://www.inchcape.com/) later today.

Market abuse regulation statement

This announcement contains inside information.

 

Financial calendar

 FY 2025 Results  3(rd) March 2026

 

Contacts

 Inchcape plc (Investor queries):
 Rob Gurner                          +44 (0)7825 189 088   i (mailto:investors@inchcape.com) nvestors@inchcape.com
                                                           (mailto:investors@inchcape.com)
 Rachel Masser

 DGA (media enquiries):
 James Melville Ross                 +44 (0) 20 7038 7419  inchcape@dgagroup.com (mailto:inchcape@dgagroup.com)
 James Styles

 

About Inchcape

Inchcape is the leading global automotive Distributor, with operations across
six continents.

 

By combining our in-market expertise with our unique technology and advanced
data analytics, we create innovative customer experiences that deliver
outstanding performance for our partners - building stronger automotive brands
and creating sustainable growth.

 

Our distribution platform connects the products of mobility company partners
with customers, and our responsibilities span product planning and pricing,
import and logistics, brand and marketing to operating digital sales, managing
physical sales and aftermarket service channels.

 

Delivering for our partners, our customers and our people - so they can
realise their ambitions in the new world of mobility.

 

The Group is headquartered in London and employs around 16,000 people
globally.

 

www.inchcape.com (http://www.inchcape.com)

 

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