Motorpoint group PLC: Data-driven recovery

研报英文原文证据摘录

Motorpoint group PLC: Data-driven recovery

Deutsche Bank Group

Deutsche Numis Research

Rating Company Date

Buy Motorpoint group 10 June 2026

Forecast Change

Europe PLC

United Kingdom

Reuters Bloomberg Exchange Ticker Price at 9 Jun 2026 (GBP) 125.00

MOTR.L MOTR LN LSE MOTR

Price Target (GBP) 170.00

Retail

187.50 -

Retail - Non Food 52-week range (GBP) 111.00

Data-driven recovery

Valuation & Risks

Benjamin Yokyong-Zoega

DB View Research Analyst

Motorpoint delivered FY26 PBT up +83% yoy to £7.5m in line with guidance. This +44-20-754-12338

marks another year of material profit improvement, volume recovery and market

Adam Cochrane

outperformance. Metal margin was up 8.3% yoy, retail units grew +7.8% to 64.6k Research Analyst

(+2% ahead of FY19) and Motorpoint is gaining market share (+22bps to 1.68%). +44-20-754-17812

Overall, this is an encouraging update reflecting strong execution and trading

Do-Hyun Yoo

momentum. Supply conditions are now more normalised and, together with an

Research Associate

increasingly data-driven commercial approach, we view Motorpoint as well placed

+44-20-754-19487

to drive further volume growth with a substantial mid-term profit opportunity. Buy.

Shwetha Ramachandran

Positive start to FY27

Current trading momentum is encouraging with Motorpoint delivering 15.0% retail

volume growth across April and May, albeit against more challenging supply Key changes

conditions last year. Metal margins remain stable and supply remains strong. There

180.00 to

is uncertainty, in our view, on the macro outlook from here, however used car supply TP 170.00 ↓ -5.6%

dynamics are supportive and demand is relatively resilient. The new site opening in Source: Deutsche Bank

Leeds is on track and there is future optionality with two further freeholds owned.