![](\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/06\/grab.jpeg\")
<\/a>R\u016fst vlastn\u00ed zna\u010dky MaXgear a\u00a0partnersk\u00fdch servis\u016f <\/p>\nPriv\u00e1tn\u00ed zna\u010dky jsou osv\u011bd\u010denou cestou ke zv\u00fd\u0161en\u00ed mar\u017e\u00ed. MaXgear byla zalo\u017eena ji\u017e v\u00a0roce 2006\u00a0a\u00a0dnes nab\u00edz\u00ed kolem 35\u00a0tis\u00edc polo\u017eek. Jej\u00ed pod\u00edl na tr\u017eb\u00e1ch je aktu\u00e1ln\u011b 17\u00a0% a\u00a0d\u00edky postupn\u00e9 integraci v\u00a0zahrani\u010d\u00ed by m\u011bl op\u011bt r\u016fst. <\/p>\n
Synergick\u00fdm dopl\u0148kem je partnersk\u00e1 s\u00ed\u0165 MaXserwis\u016f, kter\u00e1 sdru\u017euje ji\u017e 560\u00a0nez\u00e1visl\u00fdch pobo\u010dek. Tyto servisy funguj\u00ed samostatn\u011b a\u00a0Auto Partner je nevlastn\u00ed ani neprovozuje. V\u00fdm\u011bnou za preferen\u010dn\u00ed slevy, \u0161kolen\u00ed a\u00a0marketingovou podporu v\u0161ak odeb\u00edraj\u00ed n\u00e1hradn\u00ed d\u00edly prim\u00e1rn\u011b od n\u011bj. Skv\u011bl\u00e1 efektivita a\u00a0\u0161k\u00e1lovatelnost Auto Partner t\u011b\u017e\u00ed z\u00a0logiky houstnouc\u00ed s\u00edt\u011b. I\u00a0p\u0159esto\u017ee expanze do nov\u00e9 zem\u011b znamen\u00e1 zpo\u010d\u00e1tku vysok\u00e9 fixn\u00ed n\u00e1klady, s\u00a0p\u0159ib\u00fdvaj\u00edc\u00edmi z\u00e1kazn\u00edky ziskovost roste. Tento efekt se tak v\u00a0budoucnu projev\u00ed nap\u0159\u00edklad i\u00a0skrze nov\u00e9 distribu\u010dn\u00ed centrum ve Zgorzelci u\u00a0n\u011bmeck\u00fdch hranic o\u00a0rozloze 33\u00a0000\u00a0m2.\u00a0<\/p>\n
Auto Partner svou efektivitu potvrzuje nap\u0159\u00edklad tak\u00e9 pom\u011brem prodejn\u00edch, provozn\u00edch a\u00a0re\u017eijn\u00edch n\u00e1klad\u016f (SG&A) k\u00a0tr\u017eb\u00e1m na \u00farovni 20,1\u00a0%, zat\u00edmco konkuren\u010dn\u00ed Inter Cars vykazuje 23,6\u00a0%. Spole\u010dnost m\u00e1 tak\u00e9 bezpe\u010dn\u00e9 zadlu\u017een\u00ed a\u00a0jej\u00ed pom\u011br \u010dist\u00e9ho dluhu k\u00a0EBITDA dosahuje hodnoty 1,4, zat\u00edmco u\u00a0Inter Cars je to 2,1.\u00a0<\/p>\n
Finan\u010dn\u00ed o\u017eiven\u00ed a\u00a0p\u0159ekon\u00e1n\u00ed o\u010dek\u00e1v\u00e1n\u00ed <\/p>\n
V\u00a0posledn\u00edch letech \u010delil Auto Partner zpomalen\u00ed r\u016fstu tr\u017eeb a\u00a0tlaku na zisk, a\u00a0to zejm\u00e9na vlivem defla\u010dn\u00edch tendenc\u00ed u\u00a0cen n\u00e1hradn\u00edch d\u00edl\u016f, makroekonomick\u00e9ho ochlazen\u00ed a\u00a0rostouc\u00edch n\u00e1klad\u016f kv\u016fli expanzi a\u00a0r\u016fstu polsk\u00e9 minim\u00e1ln\u00ed mzdy. <\/p>\n
Prvn\u00ed kvart\u00e1l roku 2026\u00a0v\u0161ak p\u0159inesl z\u0159eteln\u00fd obrat, kter\u00fd p\u0159ekonal o\u010dek\u00e1v\u00e1n\u00ed. Meziro\u010dn\u011b vzrostla hrub\u00e1 mar\u017ee o\u00a019,2\u00a0%, \u010dist\u00fd zisk o\u00a058,3\u00a0%. Management tak\u00e9 potvrdil konec defla\u010dn\u00edch tlak\u016f a\u00a0vyzdvihl i\u00a0oslabuj\u00edc\u00ed zlot\u00fd proti euru, ze kter\u00e9ho jako export\u00e9r profituje. <\/p>\n
Klub investor\u016f<\/p>\n
Ot\u00e1zkami financ\u00ed se zab\u00fdv\u00e1 Klub investor\u016f, studentsk\u00e1 organizace, kter\u00e1 propojuje talentovan\u00e9 studenty se sv\u011btem financ\u00ed, investic a\u00a0byznysu a\u00a0vytv\u00e1\u0159\u00ed prostor pro jejich odborn\u00fd i\u00a0osobn\u00ed r\u016fst. Prost\u0159ednictv\u00edm konferenc\u00ed, workshop\u016f a\u00a0spolupr\u00e1ce s\u00a0p\u0159edn\u00edmi profesion\u00e1ly z\u00a0praxe p\u0159in\u00e1\u0161\u00ed know-how z\u00a0re\u00e1ln\u00e9ho trhu a\u00a0pom\u00e1h\u00e1 vychov\u00e1vat novou generaci lid\u00ed, kte\u0159\u00ed cht\u011bj\u00ed aktivn\u011b formovat ekonomiku a\u00a0podnikatelsk\u00e9 prost\u0159ed\u00ed.<\/p>\n
Srovn\u00e1n\u00ed na evropsk\u00e9 a\u00a0americk\u00e9 \u00farovni <\/p>\n
Hlavn\u00edm konkurentem spole\u010dnosti je je\u0161t\u011b v\u011bt\u0161\u00ed polsk\u00fd hr\u00e1\u010d Inter Cars SA, kter\u00fd se nav\u00edc zab\u00fdv\u00e1 i\u00a0zem\u011bd\u011blsk\u00fdmi stroji a\u00a0t\u011b\u017ekou technikou. Auto Partner ale i\u00a0p\u0159es ni\u017e\u0161\u00ed velikost dosahuje lep\u0161\u00ed EBITDA mar\u017ee a\u00a0analytici mu p\u0159isuzuj\u00ed vy\u0161\u0161\u00ed r\u016fstov\u00fd potenci\u00e1l. Ten je v\u0161ak dnes ji\u017e \u010d\u00e1ste\u010dn\u011b zahrnut ve vy\u0161\u0161\u00edm ocen\u011bn\u00ed. <\/p>\n
P\u0159i pohledu na glob\u00e1ln\u00ed srovn\u00e1n\u00ed je v\u0161ak patrn\u00e1 st\u00e1le velk\u00e1 propast mezi polsk\u00fdmi firmami a\u00a0americk\u00fdmi giganty jako ORLY nebo AZO, kte\u0159\u00ed ovl\u00e1daj\u00ed konsolidovan\u00fd trh, dosahuj\u00ed vysok\u00fdch mar\u017e\u00ed a\u00a0jsou ocen\u011bn\u00ed pr\u00e9miov\u00fdmi n\u00e1sobky.<\/p>\n
Evrop\u0161t\u00ed hr\u00e1\u010di jsou oproti tomu vn\u00edm\u00e1ni sp\u00ed\u0161e jako velkoobchodn\u00ed distributo\u0159i v\u00e1l\u010d\u00edc\u00ed na ji\u017e fragmentovan\u00e9m trhu. Rozd\u00edl v\u00a0ocen\u011bn\u00ed zp\u016fsobuje tak\u00e9 odli\u0161n\u00e1 role automobilu v\u00a0tamn\u00ed kultu\u0159e, nebo\u0165 v\u00a0USA p\u0159edstavuje auto nutnost, zat\u00edmco Evropa nab\u00edz\u00ed kvalitn\u00ed s\u00ed\u0165 ve\u0159ejn\u00e9 dopravy. <\/p>\n
F\u00e9rov\u00e1 cena za aktu\u00e1ln\u00edch podm\u00ednek a\u00a0rizik<\/p>\n
Hlavn\u00ed rizika, kter\u00e1 by m\u011bl m\u00edt p\u0159\u00edpadn\u00fd investor na v\u011bdom\u00ed, jsou p\u0159edev\u0161\u00edm omezen\u00e1 cenov\u00e1 s\u00edla v\u00a0r\u00e1mci r\u016fstu mzdov\u00fdch a\u00a0logistick\u00fdch n\u00e1klad\u016f, kter\u00e9 firma mus\u00ed \u00fasp\u011b\u0161n\u011b prom\u00edtat do koncov\u00fdch cen. Podstatn\u00e9 je tak\u00e9 m\u011bnov\u00e9 riziko, kdy pos\u00edlen\u00ed PLN m\u016f\u017ee sn\u00ed\u017eit ziskovost exportu. Dlouhodobou hrozbou m\u016f\u017ee b\u00fdt op\u011bt defla\u010dn\u00ed prvek na trhu nebo ochlazen\u00ed ze strany spot\u0159ebitele. <\/p>\n
Auto Partner sledujeme jako anticyklickou s\u00e1zku na var\u0161avsk\u00e9 burze u\u017e od konce b\u0159ezna, kdy se akcie obchodovala kolem 18\u00a0a\u017e 20\u00a0PLN. Sou\u010dasn\u00e1 cena 25\u00a0PLN podle n\u00e1s z\u00a0velk\u00e9 \u010d\u00e1sti reflektuje siln\u00e9 v\u00fdsledky za prvn\u00ed kvart\u00e1l, a\u00a0moment\u00e1ln\u011b spole\u010dnost vn\u00edm\u00e1me u\u017e sp\u00ed\u0161e jako f\u00e9rov\u011b ocen\u011bnou. Zaj\u00edmav\u011bj\u0161\u00ed vstupn\u00ed p\u00e1smo by se mohlo znovu otev\u0159\u00edt kolem 20\u00a0PLN. Ot\u00e1zkou z\u016fst\u00e1v\u00e1, zda Auto Partner udr\u017e\u00ed tempo r\u016fstu tr\u017eeb a\u00a0velikost mar\u017e\u00ed i\u00a0bez podpory sl\u00e1bnouc\u00edho zlot\u00e9ho a\u00a0zda pod\u00edl MaXgearu na tr\u017eb\u00e1ch bude r\u016fst. <\/p>\n","protected":false},"excerpt":{"rendered":"Auto Partner je B2B distributor n\u00e1hradn\u00edch d\u00edl\u016f do automobil\u016f. Vznikl v\u00a0Katowic\u00edch v\u00a0roce 1993\u00a0a\u00a0na Var\u0161avskou burzu vstoupil p\u0159ed deseti…\n","protected":false},"author":2,"featured_media":128399,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[412,2074,15260,67,68,117,34199,1455],"class_list":["post-128398","post","type-post","status-publish","format-standard","has-post-thumbnail","category-byznys","tag-akcie","tag-automobily","tag-autoservis","tag-business","tag-byznys","tag-polsko","tag-polsky-zloty","tag-servis"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116805804325129865","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/128398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=128398"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/128398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/128399"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=128398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=128398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=128398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}