Inter Cars (CAR) H1 2026 earnings summary

Executive summary

• Group revenue for H1 2026 reached PLN 11.4 billion, up 13% year-over-year, driven by international expansion, strong growth in foreign subsidiaries, and robust aftermarket demand.

• International sales rose over 19% year-over-year, with 28 new branches opened outside Poland, and the Group operates over 690 branches.

• Achieved market leadership in CEE and EU for passenger car parts, and resilience through economic crises, supported by warehouse automation and distribution capabilities.

• Net profit rose by 42% year-over-year to PLN 490.5 million, with operating profit up 33% to PLN 712.9 million, including a PLN 23 million insurance compensation.

• EBITDA for the trailing 12 months reached PLN 1.63 billion, with a margin of 7.5%.

Financial highlights

• Gross margin increased to 30.1% in H1 2026, up from 29.0% year-over-year.

• EBITDA was approximately PLN 860 million for H1 2026, and net profit was about PLN 500 million.

• Operating cash flow improved to PLN 792.7 million, up over 40% year-over-year.

• Investment expenditures increased to PLN 302 million, mainly for logistics infrastructure.

• Net debt/EBITDA ratio improved to 1.76.

Outlook and guidance

• Management expects continued growth in international markets, especially in Central and Eastern Europe, with a focus on optimizing logistics and inventory turnover.

• Continued focus on organic growth, market share gains, and cementing leadership in core markets.

• June sales growth of 18% is seen as exceptional but not indicative of future trends due to seasonality.

• Key risks for the next quarter include inflation, rising costs, interest rate changes, currency fluctuations, and geopolitical tensions.

• Ongoing investment in automation and distribution infrastructure to support future expansion.