BCA Marketplace sees annual operating profit soar to £87.6m

10:29 am, June 29, 2018

BCA Marketplace has recorded an operating profit of £87.6m in its preliminary results for the year to April 1 – a rise of 17.9 per cent.

It marks the third consecutive year of growth for the company, which recently fought off a takeover bid.

Revenue was up by 19.8 per cent to £2,431.5m, which it said was a result of organic growth from volumes in WeBuyAnyCar and outsourced remarketing contracts, as well as the full-year effect of acquisitions. Adjusted EBITDA was £159.5m – up by 17.6 per cent.

Operationally, its UK Vehicle Remarketing division sold more than a million vehicles – up by 6.5 per cent to 1,018,000 – while its International Vehicle Remarketing division enjoyed 362,000 sales units, which was up by 4.3 per cent, and WeBuyAnyCar sold 219,000 units – an increase of 12.9 per cent.

Executive chairman Avril Palmer-Baunack, pictured, said: ‘The group has delivered record commercial and financial results for the third successive year.

‘We saw increased volumes across all divisions, with UK Vehicle Remarketing achieving the landmark of selling over one million vehicles in the year.

‘Adjusted EBITDA increased by 17.6 per cent to £159.5m, while adjusted diluted earnings per share has increased to 11.4p, up 25.3 per cent compared with 9.1p in 2017.

‘Operating profit has increased by £13.3m to £87.6m – an increase of 17.9 per cent – reflecting the growth in adjusted EBITDA offset by non-recurring restructuring costs relating to simplification of management structures.

‘The strong group performance reflects our unique position within the automotive solutions sector. BCA has the infrastructure, the range of digital and physical capabilities, a history of good service and innovation, and we are now providing solutions at scale.’

She added: ‘The new financial year has started well, with performance since the year-end in line with our expectations. Across all of our markets there remains significant addressable volume to capture, where our business and consumer solutions can bring efficiency and value to new customers during the time a vehicle changes ownership.

‘We are excited by and committed to the opportunities ahead for BCA.’

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