BCA Marketplace has announced its maiden financial results showing the volume of vehicles sold in its UK remarketing operation rose 7.9% in the year to April 3.
During the period the group achieved revenues of £1.15bn and adjusted EBITDA of £98.5m. Operating profit after non-recurring costs, some related to its acquisition of BCA Group, was £16.3m.
Total UK auction vehicle volume was 783,000, a 7.9% rise, while its international auctions achieved 6.4% growth in volume to 333,000 units.
Revenue per unit was £341, up 5.2% from £324, and adjusted EBITDA per unit was £89, up 15.6% from £77.
The volume of vehicles sent to auction through We Buy Any Car rose 15.4% to 172,000 units, while its website received more than 11m unique visitors in the period. We Buy Any Car generated £16.9m EBITDA for the group.
The company expects this to grow further, and said this still represents a small proportion of the overall number of used car transactions and there are considerable opportunities ahead as this method of vehicle disposal increases market share.
Its stock funding arm, BCA Partner Finance, attracted 1,002 trade customers, while its valuation tool BCA Dealer Pro is now used by more than 1,000 dealers, and has handled 463,000 valuations.
BCA Marketplace chairman Avril Palmer-Baunack said "We are pleased to announce this strong set of maiden results, exceeding market expectations and delivering an attractive dividend. Our physical infrastructure, market-leading IT systems, valuation tools, data and most especially our customers and experienced and committed employees are at the heart of our business and have supported this strong performance in our first full year as a listed group.
"The BCA Group is the UK and Europe's largest used-vehicle remarketing exchange, with our continuing development of the Exchange, remarketing products, enhanced full service offerings and market-leading true transactional data, we continue to be the partner of choice in the automotive sector.
"The new financial year has begun well and the board remains confident of the Group's performance. The team will continue to focus on our recently launched T4G programme (Together for Growth) delivering exceptional service and innovation to our customers, a positive working environment for our employees and a financial return for our shareholders."
Palmer-Baunack said the four SMA auction centres acquired last year are currently being integrated into BCA’s UK remarketing business and, together with developments on a number of its 19 existing sites, will provide additional capacity to accommodate an increase in vehicle volumes flowing through the business.
Its other acquisitions in the period, of logistics and vehicle defleet businesses, are also being integrated, as the company continues “to enhance its strategic aim of becoming the full-service provider of choice for the automotive industry”, she said.
“Much has been achieved in the last year in forming the BCA Marketplace family and I would like to thank all of our employees for their continued dedication and loyalty to the businesses that have come together to form this Group. I look forward to working together with our team through our Together for Growth programme to continue to deliver the strong business growth which I anticipate continuing in all our markets,” added Palmer-Baunack.