2024 Results: a year of progress and medium-term targets announced

In 2024, Inchcape delivered continued strategic, operational and financial progress, with revenue and profit growth in-line with our expectations at the start of the year.  This resilient performance reflects our diversified and scaled global market leadership position, our long-standing and valuable OEM relationships, our high-performance culture and our differentiated technology capabilities.  

Highlights from FY24 include: 

• Completed strategic transformation becoming an automotive Distribution business.
• Achieved a record 22 Distribution contract wins. 
• Revenue to £9.3bn, up 4% YoY in constant currency.
• Adjusted profit before tax of £444m, up 5% YoY in constant currency. 
• Europe & Africa delivered market outperformance with strong growth. 
• APAC delivered growth from acquisitions and resilient margins against a mixed market backdrop. 
• Americas delivered an improved performance in H2 2024.  

Furthermore, we have announced a £250m share buyback programme in FY2025, reflecting our cash generative business model, strong balance sheet and underlining our confidence in the group and its long-term prospects. 

Additionally, Inchcape has announced medium-term targets for FY2025 – FY2030, in which we anticipate generating £2.5 billion in free cash flow. This will be deployed to drive shareholder returns through both on-going share buybacks and value-accretive acquisitions, resulting in a target of >10% earnings per share compound annual growth rate, underpinned by a return on capital employed of 25% to 30%.  

For further information, please view the FY24 RNS. 

Where appropriate, figures stated before adjusting items, and on the basis of continuing operations.