2023 financial results of the PAROT Group

The PAROT Group, a recognized French player in automobile distribution, has published its financial results for the year 2023. The company announces an annual turnover of 385.5 million euros, marking an increase of 7% compared to compared to the previous year and 11% on a comparable basis. This growth is attributed to a good level of new vehicle deliveries as well as the resilience of used vehicle and service activities.

EBITDA improved by 15.5%, reaching 12 million euros. Operating profit also increased, exceeding 7 million euros. In terms of financial structure, the group continues its deleveraging, reducing its net debt by 6.6 million euros and posting a net financial debt to EBITDA ratio of 3.4.

Despite a context of rising interest rates, which has doubled the cost of carrying stocks, performance remains robust. These results encourage the PAROT Group to maintain good prospects for 2024, in particular thanks to the solidity of the used vehicle and service activities.