H1 2025 RESULTS

“Against a fast-moving tariff situation, Inchcape delivered robust results for H1 2025. We continued to execute Accelerate+, further diversifying our business across geographies and strengthening our OEM partnerships, consolidating our position as the leading global independent automotive distributor.”
Group Chief Executive
Revenue
£4.3bn
Group revenue
vs £4.7bn H1 2024
Revenue growth
-4%
at constant currency (YoY%)
Organic growth
-3%
(YoY%)
Profitability
£200m
Adjusted PBT -4% YoY in constant currency
Operating margin
5.7%
(50)bps YoY in constant currency
Balance sheet & cash
£72m
Free cash flow
Adjusted Net Debt
£374m
vs £190m in FY24
Leverage
0.6x
vs 0.3x in FY24
Shareholder returns
35.5p
Adjusted basic EPS +2% from H1 2024
Dividend per share (proposed)
9.5p
A message from Duncan Tait
We delivered robust H1 2025 results and reaffirmed full-year guidance, demonstrating the resilience of our scaled and diversified business amid a fast-moving tariff situation and mixed market conditions, underpinned by the successful execution of our Accelerate+ strategy.


