AUTODISTRIBUTION - 4Q15 PRELIM RESULTS
​Over the last few quarters, Autodistribution has significantly improved its profitability by capitalizing on synergies related to the ACR acquisition. However, this quarter’s results marked the saturation of the positive momentum as seen by a slightly decreasing EBITDA, and diminishing margins. Nevertheless, we see it as a one-off and expect the company to continue performing solidly in upcoming quarters. Autodistribution, the 2nd largest distributor of aftermarket spare parts for light vehicles and trucks, posted 4Q15 results that are slightly under our expectations.
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