Carsales provides business and profit update for FY20

June 17, 2020 12:12 PM AEST | By Team Kalkine Media

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Carsales.com Limited (ASX:CAR) provided update an and estimated financial outcomes for FY20. The adjusted figures comprise of revenue of $26 million which is billed but not charged consistent with COVID-19 support package on FY20. The estimates include:

Overall leads and traffic volumes have been consistently improving with the easing of social distancing restrictions which has also helped in reduction of time needed to sell its stock. Total inventory has declined in last 6 weeks due to difficulties faced by car dealers in obtaining new and use car stock in these challenging times.

While Korea is performing well with Encar business witnessing growth in revenue and EBITDA, Brazil remains questioned due to escalation of COVID-19 and impacting Webmotor’s metrics.

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