Inchcape plc (LON:INCH), the leading global automotive distributor, has provided an update on trading, ahead of the announcement of the Group’s results for the half year ending 30 June 2025, to be published on 29 July 2025.
H1 2025 – resilient operating performance, with continued mixed market momentum and translational currency headwinds:
- Consistent overall TIV1 trends across Inchcape’s markets throughout H1 2025, with limited tariff-related impact so far
- Regional operational performance:
– Americas: continued improvement in trading and growth
– APAC: Australia resilient, with on-going headwinds in certain markets in Asia
– Europe & Africa: continued underlying outperformance of the market
- Further strategic momentum, with nine distribution contract wins in the year-to-date, including two additional awards2 during Q2 2025
- Continued translational currency headwinds in key currencies
- On-going focus on proactive inventory management, cost discipline and capital allocation
FY 2025 outlook – reiterated:
- Continue to expect another year of growth, including:
– Expected impact of tariffs on supply, demand and competitive environment in Inchcape’s markets
– Product cycles skewing growth to H2
- Higher EPS growth expected, driven by profit growth and on-going share buybacks
- c.£150m of the £250m share buyback programme completed, equivalent to approximately 7% of the Group’s shares in issue, repurchased
1. Total Industry Volumes in Inchcape’s markets (excluding Thailand and Argentina, which are substantial markets where Inchcape volumes are immaterial)
2. New Holland in Kenya and DFSK in Honduras
