Inchcape (INCH) Investor Update summary

2025 performance highlights

• Achieved strong results despite tariff disruptions and economic uncertainty, with record PBT in Americas and Europe & Africa, and improved H2 in APAC.

• Returned GBP 340 million to shareholders, grew EPS and DPS by 13%, and maintained leverage at 0.4x.

• Generated GBP 315 million in free cash flow, invested in share buybacks, dividends, and the Iceland acquisition.

• Won 10 new distribution contracts, expanded OEM partnerships, and optimized operations for efficiency.

• Rationalized brand portfolio, divested non-core assets, and grew high-margin value-added services.

Strategic execution and operational improvements

• Continued Accelerate+ strategy, scaling regions and enhancing OEM portfolio resilience.

• Leveraged AI for pricing, inventory, and sales optimization, including new vehicle pricing algorithms.

• Initiated cost reduction programs, especially in APAC, to address market challenges.

• Maintained strong relationships with OEMs, with BYD insourcing as an isolated case.

Market and regional performance

• Outperformed market with 3% volume growth vs. 2% market growth; Americas and Europe & Africa posted strong results.

• Americas saw 8% growth in volumes and revenue, with stable market share and improved margins.

• APAC faced competitive pressures and weak premium segment, but Australia remained resilient.

• Europe & Africa delivered 6% organic revenue growth, with strong Southern Europe and contract expansion in Africa.