Annual report and results

Our commitment to return shareholder value through organic growth, consolidation and cash returns will be delivered by our Accelerate strategy and is underpinned by our Responsible Business framework, ‘Driving What Matters’.

2023 Annual Report & Accounts (pdf) 2023 Annual Report- Electronic Format (ESEF)
Jaguar car

Nigel Stein - Chairman

Inchcape produced an excellent performance in 2023, as we continued to deliver on our purpose of bringing mobility to the world’s communities. This pleasing result was against a backdrop of continued geo-political and economic uncertainty, including ongoing inflationary pressure. The strong financial and operational performance demonstrates the resilience of Inchcape’s global business, the strength and focus of our Accelerate strategy and the quality of our leadership team.

We made good strategic progress, in particular with the integration of Derco, the major acquisition we completed last year, the execution of a number of bolt-on acquisitions across our APAC region and the achievement of a record number of distribution contracts with our mobility company partners.

Duncan Tait - CEO

2023 was an excellent year for Inchcape. We produced further positive momentum in key markets and made strong progress in diversifying and scaling our business in our regions.

From a strategic perspective, we made progress in executing our Accelerate strategy. We successfully completed three bolt-on acquisitions in APAC, in the exciting growth markets of Philippines, Indonesia, as well as New Zealand, positioning us well for future growth there. We won 15 distribution contracts across all our regions with Asian and European mobility partners. We were also successful in integrating Derco in the Americas.

Financial KPIs



Adjusted operating margin


Profit before tax and adjusting items


Free cash flow


Return on capital employed


Non-financial KPIs

BEVs sold


Reduction in Scope 1 and Scope 2 GHG emissions


Reputation score


Women in Senior Leadership positions