BCA Automotive, formerly Stobart Automotive, is now responsible for one in five finished vehicle movements in the UK, according to a statement issued to investors today.
From 28 August 2015 (when BCA Marketplace acquired Stobart Automotive for £16m) to 3 April the division achieved a turnover of £44.3m and an adjusted EBITDA of £2.1m.
BCA said that in the seven months since its acquisition, BCA Automotive had completed more than 600,000 vehicle deliveries throughout the UK and 250,000 fixed route deliveries from production facilities to their export point. On an annualised basis this equates to approximately 1.5 million vehicle movements and what it described as a 20% share of vehicle movements in the UK.
Following the acquisition BCA Automotive said it had also assumed responsibility for the operation of the fleet of SMA Vehicle Remarketing transporters, and now has 540 transporters (BCA acquired SMA Vehicle Remarketing in June 2015).
It also said that “an increasing number of vehicle movements are being carried out on behalf of [its] UK vehicle remarketing and vehicle buying divisions”.
“The divisions are working closely together to integrate the transport network deliveries with the branch requirements and single-vehicle moves, which will lead to greater efficiency in the overall logistics operations,” the group said in a statement to investors today.
OPERATIONAL BENEFITS
Executive chairman Avril Palmer-Baunack said that the acquisition had not only brought in a new revenue stream to BCA Marketplace, from the delivery of new cars into the UK retail market, but it had enhanced its relationships with automotive OEMs
She added that it has also addressed “some cost and operational pressure in the BCA logistics business”, driven by a lack of capacity in the car transporter market.
“We are in the process of integrating BCA Automotive with our logistics operations into, and out of, auction centres, including We Buy Any Car volumes and single vehicle movements, and expect to see operational benefits in future years,” she added.
