Group 1 Automotive Reports Record Year

Reuters - February 19, 2013

In a con­fer­ence call yes­ter­day, Group 1 Auto­mo­tive report­ed its fourth-quar­ter and full-year 2012 fig­ures, and share­hold­ers will be hap­py with the results.

Get the facts and fig­ures for Group 1 2012 earn­ings.

Fourth-Quar­ter 2012 Results (on a year-over-year basis unless oth­er­wise not­ed)

  • Total gross prof­it grew 14.0 per­cent on 19.3 per­cent high­er rev­enues of $1.9 bil­lion.
  • New vehi­cle rev­enues increased 22.3 per­cent on 20.8 per­cent more unit sales. New vehi­cle gross prof­it increased 12.4 per­cent on an aver­age vehi­cle sell­ing price increase of 1.2 per­cent, to $34,872.
  • Retail used vehi­cle gross prof­it increased 13.9 per­cent on 16.6 per­cent high­er rev­enues, as the aver­age sell­ing price increased 2.7 per­cent, to $20,977, and the com­pa­ny retailed 13.5 per­cent more units.
  • Parts and ser­vice gross prof­it increased 8.6 per­cent on 8.3 per­cent high­er rev­enues.
  • Finance and insur­ance gross prof­it per retail unit increased $87, to an all-time record $1,270, as pen­e­tra­tion rates improved in both finance and vehi­cle ser­vice con­tracts.
  • Sell­ing, gen­er­al and admin­is­tra­tive (SG&A) expens­es (adjust­ed) as a per­cent of rev­enues improved 40 basis points, to 11.1 per­cent.
  • SG&A expens­es (adjust­ed) as a per­cent of gross prof­it increased 60 basis points, to 76.7 per­cent.

Full-Year 2012 Results (on a year-over-year basis unless oth­er­wise not­ed)

  • Total gross prof­it grew 16.3 per­cent on 23.0 per­cent high­er rev­enues of $7.5 bil­lion, rep­re­sent­ing increas­es in all oper­at­ing seg­ments and new all-time records.
  • New vehi­cle gross prof­it grew 17.6 per­cent on 26.1 per­cent high­er rev­enues, as the com­pa­ny retailed 128,550 new vehi­cles in 2012.
  • Retail used vehi­cle gross prof­it was 17.3 per­cent high­er on a 24.0 per­cent rev­enue increase.
  • Parts and ser­vice rev­enues grew 8.1 per­cent.
  • Finance and insur­ance rev­enues increased 32.8 per­cent on 24.0 per­cent more retail unit sales; gross prof­it per unit was a record-set­ting $1,215.
  • SG&A expens­es (adjust­ed) as a per­cent of gross prof­it improved 100 basis points on a com­pa­ra­ble basis, to 75.4 per­cent.
  • Oper­at­ing mar­gin (adjust­ed) was 3.2 per­cent.
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