Carsales.Com Ltd

CAR Details

During H1FY17, carsales.com Limited (ASX: CAR) reported 7% yoy growth in total operating revenue at $178.6 million. Earnings before interest, tax, depreciation and amortization (EBITDA) grew by 2% yoy to 83.2 million during the same period. Adjusted net profit after tax after noncontrolling interests (Adjusted NPAT) was up 5% on pcp. Excluding the Finance and Related Services segment of the business, which experienced volume shortfalls as a result of issues at a major lender in the period, operating revenue was up 14% on pcp and EBITDA up 9% on pcp.


H1FY17 results overview; (Source:  Company reports)
The proposed acquisition of DeMotores with operations in Argentina, Colombia and Chile adds to existing investments in Latin America making it as the number one auto classifieds network in the region, and creates an opportunity for manufacturers, advertisers and investors to access the network of automotive classified sites operating across Latin America. The stock has moved up 10% in the last six months, while it is down 1.1% in the past one year (as on 200717). We give an “Expensive” recommendation on the stock at the current market price of $12.40


CAR Daily chart; (Source: Thomson Reuters)

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