BCA is pushing ahead with the expansion of webuyanycar in the UK but has pulled the plug on the business in Germany and the Netherlands.
Webuyanycar saw 39,100 cars pump through the system in the three months to June 2015, a year on year growth of 11.9% with EBITDA of £3.7m and a margin of 2.4%. Overall, including losses from the Netherlands, the EBITDA was £3.2m.
BCA pitches webuyanycar as an alternative to customers selling privately or taking the trade in route. “WBAC continues to focus on the development of the 3rd disposal channel in the UK through offering the best value to customers.
“Strategically we have decided to cease operating the WBAC model in the Netherlands and Germany as alternative corporate car buying initiatives are being successfully piloted to enhance volumes, which in these very early stages are showing encouraging results,” it said in a trading statement.
BCA said it sold 274,300 cars at auction for the three-month period, an increase of 7.7% with revenues up 17.8% to £243.4m. Adjusted EBITDA was £23m. It said in terms of volumes Q2 was tracking ahead of Q1.
Joint broker Zeus Caapital said: “BCA has released a solid trading update confirming that it continues to trade in line with expectations.”
