CAR Group Limited (CAR) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

teleconference will be recorded and recordings will be uploaded to our Relation website as the same as the presentation for the investors with our current results and information. We would like to welcome you in the name of our board. Today's teleconference will be provided by Krzysztof Soszyński, vice president, and Piotr Zamora, member of the board. All questions you can ask after the presentation. So please, Krzysztof, the stage is yours. Thank you very much, Magda. Good afternoon, ladies and gentlemen. We will traditionally start by presenting information regarding our position in independent aftermarket. At the end of third quarter 2024, we achieved dynamics of 7.6% in Polish zlotys, Polish currency. However, if one compares the dynamics at the constant Euro-ELN FX rate, Intercars achieved 14.5% sales dynamics, almost twice the sales growth of our European competitors. In 2024, the group strengthened its overseas expansion further in countries where it developed sales based on a subsidiary network and in the countries where it sells directly to the customers. In the last 12 months, 34 new subsidiaries were opened in foreign companies. As can be seen, intercalsogranny growth path is an effective way of consolidating the market and is currently outperforming the M&A path, which is bound with the risk of at least realizing synergies. Intercalsogranny from the domestic market accounted for approximately 40% of the total income of the entire group, the same as in the same period of previous year. the Polish market remains the primary sales market for Intercars Group. Many suppliers which sell the products on OEM to the production plants experiencing problems due to the lack of demand from automotive manufacturers. To the largest extent, those suppliers which are dire...