news aktuell GmbHnews aktuell GmbH

LKQ Europe: LKQ Europe tops second half 2020 segment EBITDA margin outlook

Share

Strong second half in European segment with a segment EBITDA margin of 8.9%, above the range of 8.0% to 8.5% presented at the September 2020 LKQ Investor Day.

LKQ Headquarter North America
LKQ Headquarter North America

Zug, Switzerland. LKQ Corporation (Nasdaq:LKQ) reported fourth quarter and full year 2020 results on February 18, 2021 that reflect continued improvement in operational and balance sheet productivity and further debt reduction, despite softening revenue trends in many markets as a result of mobility restrictions from Covid-19.

Dominick Zarcone, President and Chief Executive Officer said: “We again delivered strong quarterly results, with the fourth quarter 2020 being the second highest quarterly earnings, and highest fourth quarter earnings, in the Company’s history. Our European segment completed a strong second half with a Segment EBITDA margin of 8.9%, above the range of 8.0% to 8.5% presented at our September 2020 Investor Day. As we look to the year ahead, I am confident that the strength of our operations, balance sheet and free cash flow all position LKQ for solid growth and value creation for our stakeholders.”

Revenue for the fourth quarter of 2020 was $2.95 billion, a decrease of 1.9% as compared to $3.01 billion in the fourth quarter of 2019. Revenue for the full year of 2020 was $11.6 billion, a decrease of 7.0% as compared to $12.5 billion for the same period of 2019.

LKQ Europe, a subsidiary of LKQ Corporation, has managed the impacts of Covid-19 well since the start of the pandemic, thanks to a strong focus on a stable supply chain and strict cost management from the beginning of the crisis, and also due to its continued progress with the 1 LKQ Europe program implementation.

“Our main focus during the pandemic has been the health and safety of our approximately 26,000 European employees. We were prepared since the early days of the pandemic to protect our business, employees and customers. Based on Covid-19’s impact on our business, we quickly implemented consistent cost-cutting measures and were able to address almost all cost structures. Our teams continued to fully focus on our customers to support them during a challenging time. Looking ahead, we expect a recovery starting in the second quarter of 2021 in Europe, depending on the vaccination progress. 2021 will be an important year for our European integration,” said Arnd Franz, CEO of LKQ Europe.

LKQ Europe’s revenue for the fourth quarter of 2020 was $1.43 billion, an increase of 0.6% as compared to $1.42 billion in the fourth quarter of 2019. Revenue for the full year of 2020 was $5.49 billion, a decrease of 5.9% as compared to $5.83 billion for the same period of 2019. The segment EBITDA margin targets for Europe provided at the September 10,2020 investor day remain unchanged.

 

About LKQ Europe

LKQ Europe GmbH, with its head office in Zug, Switzerland, a subsidiary of LKQ Corporation, is the leading distributor of automotive aftermarket parts for cars, commercial vans and industrial vehicles in Europe. It currently employs approximately 26,000 people in over 20 European countries with a network of 1,000 branches and more than $5.49 billion in revenue in 2020. The organization supplies around 100,000 independent workshops in over 20 countries.

The group includes Euro Car Parts, Fource, RHIAG Group, Elit, Auto Kelly, and STAHLGRUBER Group, as well as recycling specialist, Atracco. LKQ also holds a minority interest in Mekonomen Group.

Further information, the audio webcast of the fourth quarter and 2020 earnings call, and the accompanying slide presentation can be accessed at www.lkqcorp.com in the Investor Relations section.

Contacts

Investor Relations Contact
Joseph P. Boutross
Vice President, Investor Relations
LKQ Corporation
T +1 312 621-2793
E jpboutross@lkqcorp.com

Media Contact Europe
Dr. Christiane Lesmeister
Director of Communications
LKQ Europe GmbH
Zählerweg 10
6300 Zug
T +41 41 884 84 41
M +41 79 728 65 84
E christiane.lesmeister@lkqeurope.com

Images

LKQ Headquarter North America
LKQ Headquarter North America
Download

About news aktuell GmbH

news aktuell GmbH
news aktuell GmbH
Mittelweg 144
20148 Hamburg

+49 (0)40 4113-32589http://www.newsaktuell.de

As wholly owned subsidiary of dpa, news aktuell provides business and organizations with effective access to media and consumers. Via the smart tools ots and zimpel, PR content accesses all media formats, including classical print, high click-rate online portals and social networks. In addition, news aktuell publishes all its customers’ PR content on www.presseportal.de, one of the PR portals with the greatest reach in Germany. By this means, all the relevant multipliers are reached globally, from editors, via digital influencers right up to specialist bloggers and interested consumers. news aktuell has been on the market since 1989. The company, with a staff complement of more than 135, has its headquarters in Hamburg. Other offices are in Berlin, Dusseldorf, Frankfurt und Munich.

Subscribe to releases from news aktuell GmbH

Subscribe to all the latest releases from news aktuell GmbH by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from news aktuell GmbH

European Association of E-Pharmacies (EAEP): EAEP as a Driving Force and Think Tank: European Association of Online Pharmacies Repositions Itself23.2.2021 09:00:00 CETPress release

(Brussels/Berlin): – The leading association of European online pharmacies has a new board team, a new name and a new external image: Walter Hess, Head Germany in the Group Management of the Zur Rose Group and CEO of DocMorris N.V., is now president of the association and Stefan Feltens, CEO SHOP APOTHEKE EUROPE, is vice president and secretary general. With the new leadership duo, the association of online pharmacies will shape the European healthcare sector’s digital transformation in a future-oriented way. A key goal is to further expand the practical patient benefits of online pharmacies in the implementation of future e-health concepts. Vladimir Finsterle, CEO and founder of Pearls Health Cyber s.r.o., and Gianni De Gaspari, CEO and co-founder of the online pharmacy Viata, complete the board. By changing its name from EAMSP (European Association of Mail Service Pharmacies) to EAEP (European Association of E-Pharmacies), the association underlines its key role in Europe’s increasin

Fireworks for Enzo Ferrari! Ferrari is cult - from now on also art! I see red! Buongiorno sono Enzo19.2.2021 09:01:03 CETPressemelding

London/Modena/Maranello Fireworks for Enzo Ferrari! Ferrari is cult - from now on also art! I see red! Buongiorno sono Enzo. Today I turned 123 years old. My message: The 250 GT-O 1962 is a sculpture - not just on wheels. Heiko Saxo - the car artist literally struck! From the original parts of a 250 GT 12 sculptures were created in Weert Netherlands. Another work of art rears up around the sculptures. The 4.50 m tall horse made of steel with the legendary components of the Testarossa, Daytona Spyder from 1969 and 275 GTB from 1965. Heiko Saxo discovered his sculptural elements hidden in a back hall in Modena, the birthplace of Enzo Ferrari and also in southern Italy. Dusty and covered, Saxo recognized the silhouettes of the unaffordable supercars. The passion of Heiko Saxo, who transforms the motorsport world into works of art in shapes, colors and tones. As a declaration of love to the master of construction and motorsport, Heiko Saxo dedicates his red collection. The Saxo Bank of Art

Grünenthal successfully extends its term loan bank facilities12.2.2021 13:46:41 CETPressemelding

Aachen, Germany, 12 February 2021 – Grünenthal has announced the successful extension of its existing €535 million term loan bank facilities. This amendment was conducted in the broader context of the company’s acquisition of the European rights (excluding Spain and the UK) to the lipid-lowering medication CRESTOR™ completed in February 2021. The term loan maturities are now aligned with Grünenthal’s Revolving Credit Facility maturity, which further extends its debt maturity profile. More than 60 percent of Grünenthal’s debt facilities now mature in 2024 or later. “By extending the maturity of our financing, we have gained additional flexibility to further fund our growth strategy,” says Fabian Raschke, Chief Financial Officer of Grünenthal. „We will continue to explore opportunities to further support our organic growth with targeted acquisitions, that fit our EBITDA and cash flows accretive acquisition strategy.“ Grünenthal’s capital structure has enabled it to enter into a series of

DocMorris goes European: new branding for marketplaces in Spain and France11.2.2021 11:41:32 CETPressemelding

Heerlen/Barcelona, 11.02.2021 – DocMorris is taking the next step in implementing its new brand architecture on the way to becoming the European umbrella brand of the digital healthcare ecosystem of the Zur Rose Group. The successful launch of the new branding for the DocMorris pharmacy and the DocMorris+ healthcare platform in Germany marked just the beginning of a shift of paradigm to digital healthcare. This successful first step in Germany is now followed by PromoFarma, the leading brand for online pharmacy marketplaces in Spain, and DoctiPharma, the second biggest brand in France, who see their brand now linked to the DocMorris brand identity. The new brand appearance of PromoFarma and DoctiPharma underlines its brand evolutions by using the green heart as a symbol for health. The varying shades of green for the heart represent the variety of current and future health solutions, which can be made even more personal and individual thanks to digitalisation. The light green “by DocMo

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom