Letter of the President of the Management Board - Summary 2018
Inter Cars is one of the biggest automotive spare parts distributors in Europe - the company’s size and the scale of its operation is a source of great business satisfaction on one hand, and a reason to act with a sense of utter responsibility on the other. We do want to and will develop;however, we know that we can do it in a sustainable manner. We have a direct and indirect impact on the welfare of the Europeansocieties and the natural environment. We act with great care to actively manage this impact, seek business opportunities related to sustainable growth and, where possible, strengthen our positive impact. Our investments in the logistics chain and IT in the recent years have prepared us for further development.
In 2018 Inter Cars’ revenues were higher than in the preceding year -they increased by 15.0% and amounted to PLN 7,943,253 thousand. The net profit for 2018 was PLN 223,085 thousand, that is 3.1percent more than in 2017. We also expanded our distribution network by 41 new branches and, consequently, at the end of 2018, we were operating a total of 548 points of sale in 16 countries.
Our market environment is constantly changing. The cars that still a few years ago were considered modern appear “regular” or even “outdated” today. The same holds true about engines and other systems installed in cars. At Inter Cars we follow the latest global trends and adapt to them. All these changes are making the spare parts market increasingly complicated. Thanks to our logistics chain, IT tools and specialized staff,we are able to provide top-level services to our clients. We have always aimed at being a distributor that provides top quality services. You will find detailed information on our activities in the report.
I believe that Inter Cars’ further successful development is possible only if accompanied by the development of its employees. The commitment of our team, which currently has 3,391 members, is directly linked to broadening its competences. We have created an environment that is conducive to sharing knowledge and implementing innovative business solutions together with our staff and external stakeholders. We take seriously the challenges that the changing automotive market imposes on the sellers.
We also help our clients in their development. A perfect example of that is the Master Mechanic platform we have created, by means of which garage owners can find a training tailored to their needs. We still offer stationary trainings,but our online trainings are becoming increasingly popular. Their success clearly shows that over the years Inter Cars has successfully shifted from a client-company relationship to a partnership-based relationship, where all parties understand their mutual needs and cooperate with each other. We continue to develop our Motointegrator.com platform, which helps individual drivers make an appointment in a garage that they find the best. We keep telling our clients, suppliers, business partners and employees that Inter Cars is built entirely on partnership. We listen to our clients and keep changing to offer them the best quality services.
In addition, we present to you our second responsible business report, which contains a
comprehensive viewof our approach and shows the results of managing the key areas of operation of Inter Cars. It is with great pride that I inform you that we have kept our status in the RESPECT stock exchange index, which only proves that we apply top-quality reporting, corporate governance, investor relations, information as well as environmental, social and economic standards.
We ensure that the environment protection standards we have in place in our facilities are applied also by our partners. Our BIO SERVICE initiative is a unique solution aimed at promoting ecology-responsible behaviour and waste management among garages. We have also added to our offer accessories for electric vehicles.
In 2017 we approved the Inter Cars Capital Group Responsible Business Strategy, which was described in detail in the previous report. At this point, I would like to thank all our employees thanks to whose hard work and commitment the Strategy has not become a meaningless document but is an integral part of our operations.
I do encourage you to read it and share with us any comments you may have.
On behalf of Inter Cars I would like to thank all our clients for their cooperation and support. I would also like to thank our shareholders for their trust in us.
Respectfully yours,
Maciej Oleksowicz
President of the Management Board of Inter Cars SA
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