Robust second half in European section with a section EBITDA margin of 8.9%, above the vary of 8.0% to eight.5% offered on the September 2020 LKQ Investor Day.
Zug, Switzerland. LKQ Company (Nasdaq:LKQ) reported fourth quarter and full yr 2020 outcomes on February 18, 2021 that mirror continued enchancment in operational and stability sheet productiveness and additional debt discount, regardless of softening income tendencies in lots of markets on account of mobility restrictions from Covid-19.
LKQ Europe tops second half 2020 section EBITDA margin outlook
Dominick Zarcone, President and Chief Government Officer mentioned: “We once more delivered robust quarterly outcomes, with the fourth quarter 2020 being the second highest quarterly earnings, and highest fourth quarter earnings, within the Firm’s historical past. Our European section accomplished a powerful second half with a Phase EBITDA margin of 8.9%, above the vary of 8.0% to eight.5% offered at our September 2020 Investor Day. As we glance to the yr forward, I’m assured that the energy of our operations, stability sheet and free money circulation all place LKQ for stable development and worth creation for our stakeholders.”
Income for the fourth quarter of 2020 was $2.95 billion, a lower of 1.9% as in comparison with $3.01 billion within the fourth quarter of 2019. Income for the total yr of 2020 was $11.6 billion, a lower of seven.0% as in comparison with $12.5 billion for a similar interval of 2019.
LKQ Europe, a subsidiary of LKQ Company, has managed the impacts of Covid-19 nicely because the begin of the pandemic, due to a powerful give attention to a steady provide chain and strict value administration from the start of the disaster, and in addition on account of its continued progress with the 1 LKQ Europe program implementation.
“Our major focus in the course of the pandemic has been the well being and security of our roughly 26,000 European workers. We have been ready because the early days of the pandemic to guard our enterprise, workers and prospects. Primarily based on Covid-19’s impression on our enterprise, we shortly carried out constant cost-cutting measures and have been in a position to deal with virtually all value buildings. Our groups continued to totally give attention to our prospects to assist them throughout a difficult time. Wanting forward, we count on a restoration beginning within the second quarter of 2021 in Europe, relying on the vaccination progress. 2021 shall be an essential yr for our European integration,” mentioned Arnd Franz, CEO of LKQ Europe.
LKQ Europe’s income for the fourth quarter of 2020 was $1.43 billion, a rise of 0.6% as in comparison with $1.42 billion within the fourth quarter of 2019. Income for the total yr of 2020 was $5.49 billion, a lower of 5.9% as in comparison with $5.83 billion for a similar interval of 2019. The section EBITDA margin targets for Europe supplied on the September 10,2020 investor day stay unchanged.
About LKQ Europe
LKQ Europe GmbH, with its head workplace in Zug, Switzerland, a subsidiary of LKQ Company, is the main distributor of automotive aftermarket elements for automobiles, industrial vans and industrial autos in Europe. It at present employs roughly 26,000 individuals in over 20 European nations with a community of 1,000 branches and greater than $5.49 billion in income in 2020. The group provides round 100,000 impartial workshops in over 20 nations.
The group contains Euro Automobile Components, Fource, RHIAG Group, Elit, Auto Kelly, and STAHLGRUBER Group, in addition to recycling specialist, Atracco. LKQ additionally holds a minority curiosity in Mekonomen Group.
Additional data, the audio webcast of the fourth quarter and 2020 earnings name, and the accompanying slide presentation might be accessed at www.lkqcorp.com within the Investor Relations part.
Investor Relations Contact
Joseph P. Boutross
Vice President, Investor Relations
T +1 312 621-2793
Media Contact Europe
Dr. Christiane Lesmeister
Director of Communications
LKQ Europe GmbH
T +41 41 884 84 41
M +41 79 728 65 84