Correct as of 31st October 2022

£m, unless otherwise stated 2022 2023 2024
Average Low High Average Low High Average
Sales 8049 7997 8125 8603 7695 10639 8941
Operating Profit 408 392 417 432 361 576 452
Net interest (36) (45) (29) (46) (90) (26) (43)
PBT 371 363 378 387 334 485 410
Tax (93) (97) (89) (98) (131) (85) (105)
Net profit (post minorities) 271 266 275 280 242 345 297
Basic EPS (p) 71.3 69.9 72.3 73.3 64.3 82.7 77.5
DPS (p) 28.3 27.5 28.9 29.3 27.3 32.6 31.0

By accessing this document, you acknowledge and agree to the following:

1. The information contained in this document is for information purposes only. It does not represent, nor is it based on, the opinions, estimates or forecasts of Inchcape plc (“Inchcape”), or any of its directors or employees. Any opinions, estimates or forecasts made in the analysts’ reports used to compile this document are theirs alone and are not reported, endorsed or reviewed by the Inchcape. Inchcape has not verified or commented on any individual forecasts, nor does it intend to do so in the future.

2. The information contained in this document is by definition forward looking and is therefore subject to various risks and uncertainties which are subject to change at any time and may materially affect actual results or performance.

3. The information contained in this document provides the average forecasts of the eight analysts that cover Inchcape, being:

Barclays, James Zaremba – 29/07/2022
JP Morgan, Akshat Kacker – 27/10/2022 – Rating suspended (post Derco acquisition)
Peel Hunt, Andrew Nussey – 27/10/2022
Berenberg, James Bayliss – 27/10/2022
Zeus, Mike Allen – 31/10/2022
HSBC, Paul Rossington – 31/10/2022
Numis, Georgios Pilakoutas – 31/10/2022
Jefferies, James Wheatcroft – Rating and forecasts suspended (post Derco acquisition)

Please note that some analysts may assume that Inchcape will conduct a share buyback programme when producing their individual forecasts.

4. The figures contained in the table above are a simple arithmetic average of the most recent forecasts that have been provided to Inchcape by registered investment analysts. The figures do not give greater weight to more recent forecasts or to the forecasts of any individual analyst.

5. Although Inchcape intends to update the information contained in this document periodically, no obligation is assumed to update or revise such information to reflect circumstances existing after the date of this document. As such, this document may reflect forecasts that were published prior to a significant event, including meaningful foreign exchange rate movements.

6. Inchcape is not regulated by the Financial Conduct Authority and cannot offer investment advice. This document is not intended to, nor does it, constitute investment advice or any solicitation or recommendation to buy, hold or sell securities or other financial instruments or to take any other action or place any reliance on this document.

7. None of Inchcape, any of its subsidiary undertakings or any of their directors, officers or employees accepts any responsibility for the accuracy of the information contained in this document and therefore accept no liability whatsoever for the consequences of any reliance or actions taken or not taken based on any of the information in this document.