(AOF) – The Parot group, a specialist in automotive distribution, published a turnover down 3.6% to 82.2 million euros for the third quarter of 2022. On the outlook side, the specialist in automotive distribution considers that “volumes and lead times should improve in the coming months, even if to date visibility remains imperfect on new vehicle deliveries for the coming months.” The company remains confident about its level of activity and the achievement of its profitability objectives for the 2022 financial year.
Alexandre Parot, CEO of the eponymous group commented: “As we had anticipated and announced, our activity is marking time in this 3rd quarter in the face of a market that is still experiencing supply difficulties, particularly in our VC activities, which are out of step year compared to our PC activities. Despite this unfavorable context, we continue to outperform the market thanks to a diversified offer and the strength of our used-vehicle supply circuits. The scarcity of products allows us to limit the decrease in value and thus maintain a turnover in line with our budget.”
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big concerns
According to the Federation of specialized trade, Procos, activity from January to May is very significantly down compared to the same period in 2019, at – 8.8%. Store traffic in May 2022 remained lower than in May 2019, but the decline was limited to 6.5%, much better than in April (-19.6% compared to April 2019). In a very uncertain context, several elements weigh on the profitability of companies, in particular the increase in the cost of electricity and the indexation of rents, even if the composition of the ILC (commercial rent index) has been modified. Previously it was composed of 50% inflation, 25% construction cost index and 25% change in retail turnover. From now on, it will only take into account inflation and the cost of construction because the previous formula included sales made by the ‘pure players’ of the Net, which increased the rents of physical stores.