Good sales data lifted up  Inter Cars share price on Friday by over 3.5 percent. Higher revenue is also a chance for better results for the first half a year, which the Company shall publish on 31 August.  Distributor of automotive spare parts for passenger cars, commercial vehicles and trucks still has an area for development outside Poland, as on domestic market it is still generating around 60 per cent of sales revenue of the Group. 

Inter Cars sold in June 25.5 percent more than in the same period a year ago.  In total, the distributor of spare parts sold last month products with total value of PLN 392.5 million.  It is also better regarding the whole first half a year.  From January to June the value of sold products reached PLN 2.147bn, i.e. an increase by 17.6 per cent compared to the previous year.
The company was doing even better on foreign markets. Foreign distribution subsidiaries sold 46.6 percent more than in June last year cumulatively and by 38.3 percent more in the first half of the year yoy. But analysing published values we might notice that abroad the company generates only around 30 percent of its sales revenues. 
Sales revenues of Inter Cars SA. 
  June 2014 June 2015 Change
Slovenia 10.4 13.4 29.7%
Czech 10.3 13.8 34.9%
Ukraine 8.8 10.4 18.1%
Hungary 5 10.4 107.1%
Croatia 9.6 11.2 17.0%
Romania 21.8 32.8 50.2%
Lithuania 11.8 15.7 33.7%
Latvia 5.7 10.4 81.5%
Bulgaria 4.2 9.8 131.8%
Italy 1.9 2.5 32.3%
Sales revenues abroad 89.5 131.2 46.6%
Total sales revenue 312.6 392.5 25.5%

Source: Inter Cars, (data in PLN million)


Higher sales revenues in comparison to a year ago are a chance, that Inter Cars will improve its results in 2015.  In the first quarter of this year the company earned PLN 35.811 million, an increase by 6.9 percent yoy.  


Annual results between 2003 and 2014.



In the whole year, the distributor of spare parts for passenger cars, commercial vehicles and heavy goods vehicles made a net profit of around PLN 177,699 million. Admittedly the results for the first three months of 2015 cover only 20 percent of results for the previous year.  We need to keep in mind though, that the second and third quarter are usually better for the Company, which records an increase by about 50 percent at that time.  


Investors have accepted published sales data with enthusiasm.  At the beginning of a trading session, the share price went up by over 3.5 per cent, and for two hours of trading the situation changed only a bit.  Friday growth compensates for previous falls in share price of Inter Cars. 


Inter Cars share price listing on Friday 



Friday’s enthusiasm of investors is also shared by analysts.  The latest recommendation (issued on 15 May 2015) by Wood&Company recommends buying company’s shares.  Target price is PLN 258.  Analysts from BH BOŚ recommended “keep” for the share price of the Company, with target estimated price of PLN 232.4.