Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 338

LKQ Europe tops second half 2020 segment EBITDA margin outlook

Posted by fidest press agency su mercoledì, 24 febbraio 2021

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 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. 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.


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