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View Annual Report Inchcape plc Inchcape plc Annual report and accounts 2006 22a St James’s Square London SW1Y 5LP T +44 (0)20 7546 0022 F +44 (0)20 7546 0010 www.inchcape.com Industry leader Registered number 609782 Inchcape plc Annual reportandaccounts2006 Radley Yeldar (London) Design and production 97 Inchcape plc Annual report and accounts 2006 Inchcape plc Annual report and accounts 2006 Industry leader Company details Registered office Share Registrars Computershare Investor Services PLC Inchcape plc Registrar’s Department, PO Box No 82 22a St James’s Square Bristol BS99 7NH. London SW1Y 5LP. Tel: +44 (0) 870 707 1076 Tel: +44 (0) 20 7546 0022 Fax: +44 (0) 20 7546 0010 Solicitors Slaughter and May Advisors Financial advisors Auditors Dresdner Kleinwort PricewaterhouseCoopers LLP JPMorgan Cazenove Chartered Accountants and Registered Auditors Corporate brokers The leading Dresdner Kleinwort Merrill Lynch Inchcape PEPS Financial calendar independent Individual Savings Accounts (ISAs) replaced Personal Equity Annual General Meeting Plans (PEPs) as the vehicle for tax efficient savings. Existing PEPs 10 May 2007 may be retained. Ex-dividend date for 2007 final dividend Inchcape PEPs are managed by The Share Centre Ltd, 16 May 2007 who can be contacted at PO Box 2000, Oxford House, international Record date for 2007 final dividend Oxford Road, Aylesbury, Buckinghamshire HP21 8ZB. 18 May 2007 Tel: +44 (0) 1296 414144 Final 2007 ordinary dividend payable automotive Inchcape ISA 15 June 2007 Inchcape has established a Corporate Individual Savings Announcement of 2007 interim results Account (ISA). This is managed by HSBC Trust Company (UK) 2 August 2007 Limited who may be contacted for full details at the retailer. Corporate PEP and ISA Centre, 1st floor, Courtwood House, Silver Street Head, Sheffield S1 2BH. Tel: +44 (0) 845 745 6123 Fax: +44 (0) 114 252 8116 From 1 January 2007, ISAs are managed by Lloyds TSB Registrars who may be contacted for full details at The Causeway, Worthing, West Sussex BN99 6DA. Tel: 0870 600 3989 International callers: +44 121 415 7047 Executive Committee Patrick Lee Managing Director André Lacroix Crown Motors Limited, Hong Kong Group Chief Executive Industry leader Our enduring, long term relationships Inchcape has a long and vibrant history Spencer Lock A truly international and independent with leading automotive manufacturers of innovation, constantly building on Barbara Richmond Chief Executive Inchcape UK automotive retailer and distributor, are a testament to our ability to embody past experience and evolving our Group Finance Director Inchcape operates in over twenty our partners’ brands effectively. business model to stay at the forefront Trevor Amery John McConnell countries in developed and emerging We have the scale, capability and of our industry. Chairman Chief Executive markets and works around the world market knowledge to make us the brand Our strong balance sheet, Inchcape Motors Australia Inchcape Motors Australia Subaru, Australia with the strongest brands in the partner of choice for Distribution and operating cash flows and financial Immo Rupf industry. Our strong and experienced Retail operations globally. capacity mean we can take advantage George Ashford Group Strategy Director management teams have an in-depth With our focus on customer of the many scale opportunities for Managing Director Martin Taylor knowledge of the automotive sector service we aim to deliver an outstanding growth across both Retail and Distribution Europe Retail and of the markets in which we operate. customer experience every day, every in developed and emerging countries. Chief Executive Europe As a result we have achieved leadership time, and in all of our global businesses. Seeking constant improvement and Dale Butcher Distribution Africa and South America Group Development Director positions in key markets with best in class We have developed world-class retail growth has enabled us to drive business William Tsui margins generated from multiple operations across our core markets and performance and to maximise returns Claire Chapman Chief Executive income streams. are leading the way in customer service. for our shareholders. Group Legal Counsel Inchcape Asia Pacific Tony George Roy Williams Group Human Resources Director Group Company Secretary Ken Lee Peter Wilson Group Communications Director Group Information Systems Director Inchcape plc Annual report and accounts 2006 Inchcape plc Annual report and accounts 2006 A unique business model The Inchcape model offers major opportunities for growth. A history of evolution and success Over the past six years the Company A decentralised and co-ordinated A Company steeped in a rich history, has increasingly focused on Retail, global organisation model we pride ourselves on our ability to helping to lead the way in industry Our global organisational structure innovate and deliver outstanding value consolidation in developed markets is what makes this unique model for our shareholders. such as Australia and the UK; establishing work. We follow a decentralised In 1999 Inchcape was strong bases for growth in emerging but co-ordinated approach. transformed from a diverse distribution markets such as the Balkans and the The balance is very important. It provides company to a business focused Baltics; and more recently entering the empowerment and resources in the purely on the automotive industry. exciting high growth markets of Russia markets, enabling fast decisions and Today we operate Retail and Distribution and China. freeing up local management to spend businesses representing a number more time with our customers. At the A model for growth of brand partners in developed and same time, this structure enables us to The Inchcape model offers major emerging markets. This is what makes leverage the many best practices we opportunities for growth. Our model our business model truly unique in the have across the Group and implement for expansion is based around the automotive industry. consistent, world-class standards. concept of Distribution and Retail within We have strong historical roots developed and emerging markets in Distribution in Hong Kong, Singapore, and we see opportunities to grow our Australia, Belgium and Greece and we business across all these segments. continue to be a leading automotive distributor and retailer in these markets. Inchcape plc Annual report and accounts 2006 Inchcape plc Annual report and accounts 2006 Our operations We operate Retail and Distribution businesses representing brand partners in developed and emerging countries. Distribution The distribution process takes the In our Distribution markets we not only product all the way from the factory import, distribute and market the brands and brings it to the marketplace. we represent, but we also retail to all We are deeply involved in brand or part of the network, enabling a far development and innovation with our stronger understanding of customer brand partners, plus we develop the needs and opportunities. This ‘vertically retail network’s marketing and sales integrated retail model’ delivers strategies for new and existing models, higher margins through the seamless pricing, finance products, servicing, management of the complete value parts and accessories. chain, including supply and inventory. This truly customer-centric approach to Distribution enables us to provide a real competitive edge to our brand partners. Inchcape plc Annual report and accounts 2006 6 1 2 6 2 3 5 5 4 1 3 5 Inchcape in the UK Inchcape in Asia Inchcape in the Rest of the World Retail Hong Kong, Macau Chile, Peru – Audi, BMW, Ferrari, Ford, Honda, Distribution and Retail Distribution and Retail Jaguar, Kia, Land Rover, Lexus, Maserati, – Daihatsu, Hino, Jaguar, Mazda, – BMW/MINI Mercedes-Benz, MINI, Mitsubishi, Renault, Toyota/Lexus Brunei, Ethiopia, Guam and Saipan smart, Toyota, Vauxhall, Volkswagen, Volvo Singapore Distribution and Retail Distribution Distribution and Retail – Toyota/Lexus – Inchcape Automotive, – Hino, Suzuki, Toyota/Lexus Inchcape Fleet Solutions 6 2 4 Inchcape in Europe Inchcape in Australasia Inchcape in the Emerging Markets Belgium and Greece Australia Balkans Distribution and Retail Distribution – Toyota/Lexus Distribution and Retail – Subaru – Bulgaria, Romania, Macedonia Finland Retail Toyota/Lexus Distribution and Retail – Hyundai, Kia, Mitsubishi, Subaru, – Jaguar, Land Rover, Mazda Baltics Volkswagen Luxemburg Distribution and Retail New Zealand – Estonia, Latvia Jaguar, Land Rover, Mazda Distribution and Retail Distribution – Lithuania Jaguar, Land Rover, Mazda – Jaguar, Toyota/Lexus – Subaru Russia France Retail Retail – Moscow Toyota/Lexus (opening 2008) – Audi, Volkswagen – St. Petersburg Toyota/Lexus Poland China Retail Retail – BMW/MINI – Shaoxing Toyota (opened January 2007) and Lexus (opening 2008) Retail We also build scale relationships with Our retail businesses benefit from The focus for our Retail operations our core brand partners where we aspire multiple income streams from the sale is on scale. to represent around 10% of their network of new and used vehicles, finance and Consolidation in developed in each country. This provides real insurance products, servicing, parts markets is proving the case for fewer, marketing efficiencies. We operate and accessories. bigger, better retail operations. a dedicated brand management As our brand partners pursue It provides for an improved customer structure to ensure focus, a better their expansion plans in the high
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