LKQ Europe third quarter 2021 financial results with highest EBITDA margin in over nine years

8.2 per cent increase in global revenue compared to third quarter in 2020

LKQ Europe third quarter 2021 financial results with highest EBITDA margin in over nine years

LKQ Corporation (Nasdaq: LKQ), the parent company of LKQ Europe, today reported third quarter 2021 results that reflect continued strength for the company in a number of key metrics including total revenue, segment profitability and free cash flow.

Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation said: “Our operating excellence initiatives continue to drive record results for LKQ; in the quarter, we recorded the highest third quarter EPS and Segment EBITDA margin in the Company’s history.

“We are particularly pleased with the results of our Europe segment, as its third quarter margin of 11.5% is the highest in over nine years. This performance validates our confidence in the 1 LKQ Europe program, the strategic initiatives that underpin it, and the capabilities of the team driving the implementation.”

Global revenue for the third quarter of 2021 was $3.3 billion, an increase of 8.2% as compared to $3.0 billion in the third quarter of 2020, reflecting the annualization of the pandemic impact during the third quarter of 2020.

LKQ’s European segment achieved a revenue growth of 2.7% to $1.53 billion in the third quarter 2021, as compared to $1.48 billion in the third quarter of 2020.

Arnd Franz, CEO of LKQ Europe said: “In a demanding environment with increasing supply chain cost and Covid-19-related restrictions, the LKQ Europe team continued to drive positive results.

“I am encouraged by the sustained focus of our employees on our customers, driving efficiency and consequently expanding our operating margins.

“The execution of the 1 LKQ Europe program continues to show results.”

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