According to Autocirc’s Interim Financial Report for January-March 2024, the company highlighted a pivotal period of growth and strategic advancements. The first quarter of 2024 saw Autocirc fortify its foundation for a circular economy in the auto parts industry. Through key acquisitions in France and Norway, the company made significant strides towards its vision of sustainable change.
The financial performance in Q1 showcased robust growth both organically and through acquisitions. The company maintained strong gross profit levels and achieved an adjusted EBITDA margin of nearly 19%, up from 15% the previous year. Positive cash flow and a 30% cash conversion rate were noteworthy achievements, despite the substantial inflow of cars during the quarter.
Over the past five years, Autocirc has built a resilient foundation, now poised to create even stronger synergies within its network to boost efficiency and profitability. Societal trends and European political initiatives, such as the new EU directive promoting car part reuse, are driving demand for used parts, aligning perfectly with Autocirc’s business model.
Autocirc is committed to leading the transition towards a sustainable auto parts industry. The company eagerly anticipates further development projects and new strategic partnerships to ensure a continuous flow of auto parts from used to useful.
The Q1 Statements 2024 and further information are available at: autocirc.com/investor
Click here to view the Interim Financial Report for January-March 2024
About Autocirc
Autocirc works for a circular transition in the automotive industry. We ensure that used car parts get back on the road again – or that materials and components can be used in completely different products and contexts. By moving from new production to reuse, remanufacturing, repurpose and recycling of car parts, we are making the second-hand market the first choice. A sustainable choice for a smarter automotive industry and a better alternative, also for the next generation.
Autocirc was founded in 2019 and is growing rapidly. Today, the group consists of 63 companies with over 1100 employees and operates in Sweden, Norway, Finland, the UK, Poland, Germany and France.
