PKO Bank Polski - Inter Cars S.A. (CAR) Inter Cars - 1Q19 earnings slightly above our expectations; ND/EBITDA 2.9x (neutral)

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PKO Bank Polski

Adrian Skłodowski

Inter Cars - 1Q19 earnings slightly above our expectations; ND/EBITDA 2.9x (neutral)

Research prepared by PKO BP Securities

21/05/2019 4 EN

Underlying

Inter Cars S.A.

Inter Cars is an automotive spare parts distributor for passenger cars, commercial vehicles and trucks in Middle-Eastern Europe. The product range of Co. reaches over one million different automotive spare parts for passenger cars and trucks. No matter if the car is European or Asian one, Co.'s customers can find full range of products for their cars as well as all the necessary tools and garage equipment. Besides spare parts distribution, which is the core business of Co., Co. is also an exclusive distributor of legendary motorcycle brand “TRIUMPH” in Poland (via motorcycle distribution network, called Inter Motors) and distributor of spare parts and accessories for other motorcycle brands.

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PLINTCS00010 Warsaw Stock Exchange Poland

Provider

PKO Bank Polski

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Analysts

Adrian Skłodowski

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Inter Cars - 1Q19 earnings slightly above our expectations; ND/EBITDA 2.9x (neutral)

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- Dziennik

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