Auto Partner Sa · GPW:APR
Auto Partner Sa — Q1 2022 Earnings Presentation
24 slides from Auto Partner Sa's earnings presentation, May 24, 2022
Slide 1: Financial Results Auto Partner Group Q1 2022
FINANCIAL RESULTS AUTO PARTNER GROUP Q1 2022 May 24th 2022
Slide 2: Disclaimer
Disclaimer This material is intended for information purposes only. It does not constitute an advertisement for or an offer of any publicly traded securities. Its contents have been compiled from sources considered reliable and accurate by Auto Partner S.A., although there is no assurance that such
Slide 3: Agenda
Agenda 1. About Auto Partner Group 2. Market environment 3. Financial results 4. Summary www.autopartner.com 3
Slide 4: About Auto Partner Group
01. About Auto Partner Group www.autopartner.com 4
Slide 5: Management Board of the Group
Management Board of the Group Aleksander Górecki Andrzej Manowski Piotr Janta President of the Management Vice President of the Management Vice President of the Management Board/Founder Board Board Involved in the automotive industry since With Auto Partner since 1994, serving Joined Auto Partner in
Slide 6: Auto Partner Group at a glance
Auto Partner Group at a glance Nearly 10% share in domestic Approximately Sales in more than market of spare parts 250,000 references 30 countries available 15.5m parts warehoused About 62% of orders placed Member of GlobalOne GPO throughout Poland online www.autopartner.com 6
Slide 7: Key developments in Q1 2022
Key developments in Q1 2022 Sales up by 35% to nearly PLN 640bn Continued foreign expansion – exports accounting for 50% of revenue; for the first time on record foreign sales exceeded domestic sales Strong profitability maintained, with steep growth in the scale of business: gross margin of 29.6% R
Slide 8: Well-developed distribution network
Well-developed distribution network • IT-supported logistics – just-in-time deliveries to geographically dispersed customers at a frequency of 3-5 times per day, subject to Covid-19 spread prevention measures • Total warehousing space at the Group (held under leases) – over 100,000 sq m: • Distribut
Slide 9: 110 branches
New Auto Partner branches opened in Q1 2022 NEW AP BRANCHES GRUDZIĄDZ OTWOCK 2 new branches opened in Q1 2022 Existing network: 110 branches throughout Poland www.autopartner.com 9
Slide 10: Well-developed foreign sales network
Well-developed foreign sales network Albania Germany Austria Poland Belgium Portugal Belarus Russia Bosnia and Romania Herzegovina Serbia Croatia Slovakia Montenegro Slovenia Czech Republic Ukraine Denmark Hungary Estonia United Kingdom Finland Italy France Spain Netherlands Ireland Lithuania Luxemb
Slide 11: Market environment
02. Market environment www.autopartner.com 11
Slide 12: Market environment
Market environment POLAND EUROPA (European Union) • In Q1 2022, the number of registrations fell year on year by • 560 cars per 1,000 inhabitants of the European Union 13.4% in the case of new passenger cars and by 12.3% n (according to ACEA); the case of light commercial vehicles (according to KPMG
Slide 13: Financial results
03. Financial results www.autopartner.com 13
Slide 14: Record-breaking performance figures
Record-breaking performance figures for 2021 REVENUE EBITDA EBIT NET PROFIT 639.6 74.0 66.6 50.3 PLNm PLNm PLNm PLNm +35% +35% +37% +33% www.autopartner.com 14
Slide 15: Sales at all-time record level
2021 sales at all-time record level Q1 2022 sales [PLNm] Sales by geographies [PLNm] 639.9 241.0 320.6 45% 50% 475.7 Q1 2021 Q1 2022 50% 55% 319.0 261.7 Q1 2021 Q1 2022 Domestic sales Export sales • +34.5% y/y increase in revenue • Strong growth in export sales: +48.9% y/y • Growing share of foreign
Slide 16: Strong quarterly sales growth
Strong quarterly sales growth Quarterly sales [PLNm] 639.6 587.2 611.6 587.5 469.5 475.7 433.1 392.9 391.5 368.3 371.1 396.7 303.4 303.7 326.7 294 253.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2018 2019 2020 2021 2022 • Strong two-digit growth in sales (+35% y/y) continued on the back of
Slide 17: Significant growth in profits and earnings
Significant growth in profits and earnings Gross profit EBITDA EBIT Net profit [PLNm] [PLNm] [PLNm] [PLNm] +44% 189.2 131.4 +35% 74.0 +37% 54.7 66.6 +33% 48.6 50.3 37.8 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 • Strong, double-digit growth across all P&L levels • Strong cost d
Slide 18: Gross profit
Gross profit Profit margin 30.3 30.7 [%] 29.5 29.3 29.6 28.1 28.4 27.7 27.6 26.5 26.8 27.0 26.6 26.0 26.0 26.2 24,5 189.2 172.3 173.6 180.3 131.8 127.7 131.4 120.1 96.3 101.9 101.8 97.3 78.8 81.5 79.4 86.9 67.4 PLNm Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2018 2019 2020 2021 2022 • Gross
Slide 19: Profit margin
Profit margin 30.2 29.3 30.7 27.7 28.1 32.0 27.6 28.4 26.6 26 26.2 29.6 24.5 Net profit margin (%) EBIT margin (%) 12.2 12.9 11.9 11.3 11.0 11.5 11.6 EBITDA margin (%) 10.5 7.8 10,8 10.2 11.8 10.4 Gross margin (%) 6.9 7.4 6.6 9.6 10.8 9.4 6.1 10.0 6.8 9.5 7.1 5.7 8.2 7.8 7.9 8.3 7.9 4.9 5.7 5.1 6.7
Slide 20: Cash flow
Cash flow Cash flow [PLNm] Operating cash flows Investing cash flows Financing cash flows Total cash flows 18.3 5.3 24.3 5.6 19.1 -7.4 -5.5 -10.8 Q1 2021 Q1 2022 • Stable liquidity position of the Group www.autopartner.com 20
Slide 21: Stable stock levels
Stable stock levels Stocks* [PLNm] 839.8 749.4 656.1 608.7 603.2 478.8 503.2 491.7 439.8 447.3 448.2 448.2 468.1 469.1 382.8 391.2 403 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2018 2019 2020 2021 2022 • Inventory turnover as at March 31st 2022: 159 days vs 144 days the year before * Invent
Slide 22: Summary
04. Summary www.autopartner.com 22
Slide 23: Summary
Summary Record high sales and financial results Favourable market trends made the most of Steep growth in export sales – for the first time on record export sales exceeded domestic sales Solid profitability maintained Low debt maintained (net debt/ EBITDA=1.1x) Excellent prospects for th
Slide 24: Thank you!
THANK YOU! ul. Ekonomiczna 20 43–150 Bieruń, Poland www.autopartner.com