Latest results

Despite a challenging situation in Australia, Inchcape delivered a resilient performance in the third quarter reflecting our scaled and diversified business model and ongoing delivery against our Accelerate+ strategy. As anticipated, continued strong momentum in the Americas was underpinned by volume growth across our brand portfolio and, in Europe & Africa, broad-based growth across our core brands was also supported by recent contract wins and acquisitions. In addition, we made progress with our management actions to support our businesses in Asia.

Australia remains a challenge – our key brand has underperformed, with deteriorating competitiveness in a rapidly-evolving market. We are taking further decisive action there, alongside our existing restructuring activity. We are confident these actions will improve our business in Australia over time, but we expect the current challenges in that market to continue impacting our performance there.

As a consequence, we now expect a lower Group operating margin for FY 2026 of c.5.5%, with adjusted EPS growth of c.10%, underpinned by continued momentum in the Americas and Europe & Africa. Our performance for this year and over the medium term will continue to be driven by our diversified OEM and market portfolio, distribution contract awards in recent years, strong cash generation and disciplined capital allocation, through share buybacks and value-accretive acquisitions. These factors support our continued confidence in our medium term ambition of delivering >10% EPS CAGR to the end of 2030.