Added to YB: 2024-06-03
Pitch date: 2024-06-02
APR.WA [bullish]
Auto Partner SA
-32.88%
current return
Author Info
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Company Info
Auto Partner SA imports and distributes parts for passenger cars, delivery vans, and motorcycles in Poland.
Market Cap
PLN 2.2B
Pitch Price
PLN 23.72
Price Target
N/A
Dividend
0.89%
EV/EBITDA
7.66
P/E
10.66
EV/Sales
0.61
Sector
Specialty Retail
Category
growth
Auto Partner investment thesis updated
APR.WA: Auto parts distributor in Poland w/ 13% market share. Founder-led, 26% CAGR since IPO. 70% online sales (99% intl). Scale is key advantage - lower costs, faster delivery. Risks: EVs need less parts (-30%), but only 1.2% of EU fleet now & older fleet helps. Consolidating industry favors scale. 18.9% Q1 growth despite March headwinds. 14x P/E for fastest organic growth in industry. Upside: Market share gains in fragmented EU market (only 1.7% share), margin expansion w/ new warehouse in 2025.
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