Inter Cars (CAR) Q1 2026 earnings summary

Executive summary

• Q1 2026 sales grew by 13.6% year-over-year to PLN 5.4 billion (€1,280 million), outpacing main European peers and driven by strong export sales and international expansion, especially in Central and Eastern Europe.

• Net profit increased by 34% to PLN 211 million, with EBITDA for the trailing 12 months up 15.45% to PLN 1,503 million.

• Maintained market leadership in Central and Eastern Europe, expanded EU presence with 680+ branches and 300,000 regular customers, and demonstrated resilience through economic and geopolitical crises.

• Growth in EVs and hybrids observed, but combustion engine vehicles remain dominant; Chinese brands are increasing their presence.

• Despite subdued European aftermarket growth post-pandemic, the company sustained strong growth and market share gains.

Financial highlights

• Q1 2026 sales reached PLN 5.4 billion, up 13.5% year-over-year, with LTM sales at PLN 21.9 billion (€5.1 billion) and a 16.1% CAGR since 2013.

• Net profit rose to PLN 211 million, a 34% increase from Q1 2025; EBITDA margin improved to 7.2% from 6.5%.

• Gross margin improved to 29.8%, aided by positive FX effects; basic EPS increased to PLN 15.07.

• Operating cash flow reached PLN 841 million, up from PLN 328 million a year earlier; capital expenditures were PLN 202 million.

• Financial costs dropped to PLN 47 million, and interest paid was PLN 43 million, both down year-over-year.

Outlook and guidance

• Confident in achieving 2026 sales growth target of 10%, with double-digit growth expected in subsequent quarters.

• April and May 2026 results support a positive outlook for sales and EBITDA.

• Management highlights potential impacts from interest rate changes, geopolitical risks, currency fluctuations, and global trade tensions.

• Focus remains on organic growth, cost optimization, inventory turnover, and logistics efficiency.