Inchcape (INCH) Trading Update summary

Operating performance and market trends

• Maintained resilient operating performance in H1 2025, with consistent Total Industry Volume trends and limited tariff impact so far.

• Americas showed continued trading improvement and growth; Australia remained resilient, while some Asian markets faced headwinds.

• Europe & Africa outperformed underlying market trends.

• Ongoing translational currency headwinds affected key currencies.

Strategic initiatives and outlook

• Secured nine new distribution contracts year-to-date, including two in Q2 2025 (New Holland in Kenya, DFSK in Honduras).

• Continued focus on proactive inventory management, cost discipline, and capital allocation.

• Reiterated FY 2025 outlook, expecting another year of growth, with product cycles skewing growth to H2.

• Higher EPS growth anticipated, supported by profit growth and ongoing share buybacks.

• Approximately £150m of £250m share buyback completed, representing about 7% of shares repurchased.