Inchcape : investor presentation July 23 (1.98 MB)

INVESTOR PRESENTATION

July 2023

Inchcape: Group overview

Our business

Our differentiators

Distribution focusGlobal scale

c.90% of	6 continents
profit	>40 markets
Vehicles & Parts	Technology
Strong automotive	Digital & Analytics
brands	leader

Leading global automotive distributor	Specialist in higher growth markets
Long-term relationships with global OEMs	Leveraging technological capability

2

Our financials

ROCE

>25%

Cash conversion

>60%

Strong financial position (M&A firepower)

Attractive capital allocation framework

3

Inchcape has a robust business model

The Group's long-term prospects are supported by ….

Market leadership	Investments in	Aftermarket	A resilient
in fragmented	digital and data	and Vehicle	business model
markets	analytics	Lifecycle Services	Inchcape is a key
Opportunity to	Driving a great	Growth through
element of the
consolidate - through	consumer experience,	increased	OEM value chain
organic investment	operational efficiency	participation in
and M&A	and long- term	broader parts of the
	customer value	value chain
	+	+	=

Our Responsible Business agenda: People, Planet, Places and Practices

4

An excellent performance by Inchcape in H1 2023… …further momentum

Robust results	Continued	Derco on track
	strategic progress

45%	11 distribution deals and	Integration
revenue growth	acquisitions	Synergies

	Operating margin
£249m
Working capital
PBT1 growth of £65m

Inchcape remains well positioned for growth

Based on prevailing market conditions, FY 2023 results expected

to be towards top of the range of market consensus2

1. Adjusted PBT
2. The current range of 2023 Adjusted PBT analysts' consensus estimates is between £470m and £506m, as at 12 May 2023

5

H1 2023: headline financials

Topline	Profitability	Balance sheet	Shareholders
Revenue	Operating margin	Free Cash Flow	Basic EPS

£5.6bn	5.8%	£202m	42.2p
			+21% from H1 2022
+45% +13%	£249m	0.8x	9.6p
			+28% from H1 2022

Revenue	Organic	PBT	Leverage ratio	Dividend per share
growth	growth		(proforma)	(proposed)
(YoY%)	(YoY%)

Where appropriate, figures stated before adjusting items, and on the basis of continuing operations