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    INCH   GB00B61TVQ02

INCHCAPE PLC

(INCH)
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Inchcape : Car dealer Inchcape raises profit view; warns of chip shortage

06/18/2021 | 02:43am EDT

June 18 (Reuters) - Car dealership Inchcape said on Friday its current-year earnings will beat market estimates, helped by an uptick in demand following easing of pandemic-related restrictions.

The company, which sells new and used cars, including premium brands including BMW, Audi and Mercedes-Benz, said it expects 2021 profit before tax to be significantly higher than the market consensus of 216 million pounds.

That would still be lower than pre-pandemic annual earnings of 326 million pounds, but better than the profit of 129 million pounds for 2020.

The company's shares were expected to be up between 2% and 7%, according to premarket indicators.

Inchcape, however, warned that chip shortages and the pandemic remained major sources of uncertainty as it heads in to the second half of the year, adding that the impact to the company has been limited so far.

A global pandemic-driven trend towards digitisation is fuelling unprecedented demand for semiconductors, causing a shortage of these chips for the auto industry, including for UK car dealers already suffering in the wake of Brexit. (Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)


ę Reuters 2021
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Financials
Sales 2021 7 346 M 10 215 M 10 215 M
Net income 2021 124 M 173 M 173 M
Net cash 2021 82,6 M 115 M 115 M
P/E ratio 2021 27,2x
Yield 2021 2,03%
Capitalization 3 343 M 4 649 M 4 649 M
EV / Sales 2021 0,44x
EV / Sales 2022 0,43x
Nbr of Employees 15 000
Free-Float 92,9%
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Technical analysis trends INCHCAPE PLC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 850,50 GBX
Average target price 978,43 GBX
Spread / Average Target 15,0%
EPS Revisions
Managers and Directors
Duncan Andrew Tait Chief Executive Officer & Executive Director
Gijsbert de Zoeten Chief Financial Officer & Executive Director
Nigel Macrae Stein Chairman
Mark Dearnley Chief Information Officer
Till Vestring Independent Non-Executive Director
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