Auto Partner Sa · GPW:APR
Auto Partner Sa — Q3 2024 Earnings Presentation
26 slides from Auto Partner Sa's earnings presentation, Nov 19, 2024
Slide 1: Q1–Q3 2024 Financial Results
Q1–Q3 2024 FINANCIAL RESULTS AUTO PARTNER GROUP 19 November 2024
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 the Auto Partner Group 2. Market environment 3. Financial results 4. Summary www.autopartner.com 3
Slide 4: About the Auto Partner Group
01. About the 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 Tomasz Werbiński President of the Management Vice President of Vice President of Member of Board/Founder the Management Board the Management Board the Management Board Involved in the automotive industry since With Auto Pa
Slide 6: Auto Partner Group at a glance
Auto Partner Group at a glance One of the largest distributors of automotive parts in Poland, with a nearly 10% market share International markets accounting for around 50% of sales Approximately 280,000 product references available Expanding distribution network with nearly 160,000 m2 of warehouse
Slide 7: Effective business model
Effective business model broad product range premium brands, private label brands human resources private label almost 2,700 employees SUPPLIERS OF brands FINISHED including sales PRODUCTS MaXgear other brands sales support warehouse/logistics IT online orders export deliveries to branch offices Abo
Slide 8: Diversified customer base
Diversified customer base POLAND EXPORT Repair workshops 62% Stores, wholesalers and distributors Specialised stores 30% 100% Non-specialised repairers and retailers 8% Data as at 31 December 2023 www.autopartner.com 8
Slide 9: Key developments in Q1–Q3 2024
Key developments in Q1–Q3 2024 Increase in sales by 14.1% to over PLN 3.0 billion Double-digit growth in Poland (up +14.0%) and in international markets (up +14.3%) Solid profitability and rapid business growth achieved despite market challenges, with a gross margin of 26.7% posted for Q3 2024 Conti
Slide 10: Well-developed distribution network
Well-developed distribution network • IT-supported logistics enable just-in-time deliveries to geographically dispersed customers, with a frequency of 3–5 times per day • Warehouse space leased by the Group totals ca. 160,000 m2: • Centre in Bieruń (ca. 52,000 m2) • Warehouse in Pruszków (ca. 12,500
Slide 11: Private label brands account for 20% of revenue
Private label brands account for 20% of revenue, with rapidly growing sales over 35,000 references available 18 years of experience 80 product groups www.autopartner.com 11
Slide 12: Market environment
02. Market environment www.autopartner.com 12
Slide 13: Market environment
Market environment POLAND EUROPE (European Union) • In Q1-Q3 2024, the number of new passenger car • 574 cars per 1,000 inhabitants in the European registrations rose by 13.8% year on year Union (ACEA). (KPMG/PZPM) • ACEA: in Q1-Q3 2024, new passenger car • In September 2024, the median price of pre
Slide 14: Financial results
03. Financial results www.autopartner.com 14
Slide 15: Results for Q1–Q3 2024
Results for Q1–Q3 2024 REVENUE EBITDA EBIT NET PROFIT 3,117.7 246.6 205.8 147.4 PLN PLN PLN PLN million million million million +14% -8% -13% -15% www.autopartner.com 15
Slide 16: Strong sales growth in Q1-Q3 2024
Strong sales growth in Q1-Q3 2024 Sales Q1-Q3 2024 [PLNm] Sales by geography [PLN million] 3 117,7 2 731,5 1 360,7 1 555,3 50% 50% Q1–Q3 Q1–Q3 50% 2023 50% 2024 1 370,8 1 562,4 Q1–Q3 2023 Q1–Q3 2024 Domestic sales Export sales • Revenue up +14.1% year on year • Similar contributions of domestic and
Slide 17: Strong domestic and export sales
Strong domestic and export sales Export sales Domestic sales 27%* 33% 38% 42% 46% 50% 50% 50% 73% 67% 62% 58% 54% 50% 50% 50% * Contribution 1 827,2 1 826,2 to Group’s 1 555,3 1 562,4 revenue 1 409,6 1 425,1 1 227,5 1 034,4 963,3 910,1 707,1 769,8 662,7 569,3 385,2 252,2 2017 2018 2019 2020 2021 202
Slide 18: Strong quarterly sales growth
Strong quarterly sales growth Quarterly sales [PLN million] 1 060,8 1 062,1 994,8 938,5 956,3 921,9 836,6 751,2 737,0 706,9 639,6 587,2 611,6 587,5 469,5 433,1 475,7 371,1 396,7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 2024 • Strong double-digit growth in sales co
Slide 19: Profitability
Profitability Gross profit EBITDA EBIT Net profit [PLN million] [PLN million] [PLN million] [PLN million] 268.6 -8% 237.0 +13% 840.1 Q1-Q3 246.6 -13% -15% y/y 172.8 Q1-Q3 Q1-Q3 205.7 Q1-Q3 744.3 y/y 102,1 y/y y/y 147.4 -17% 84,9 90,9 -22% 282,9 Q3 y/y Q3 y/y 71,2 65,6 -24% +4% Q3 y/y 271,1 Q3 y/y 50
Slide 20: Gross profit
Gross profit 30,7 30,3 30,4 Profit margin 29,5 29,3 28,3 28,1 27,9 [%] 30,3 26,9 29,6 29,2 26,2 26,7 27,6 28,4 26,2 26,4 26,6 296,3 282,9 271,1 260,9 252,4 245,6 214,3 219,4 224,2 220,8 189,2 172,3 173,6 180,3 120,1 131,8 127,7 131,4 97,3 PLN million Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 21: Profit margin
Profit margin 30,3 29,5 29,3 29,6 30,3 29,2 30,4 28,1 27,6 28,4 27,9 26,2 30,7 26,9 26,7 26,6 28,3 26,4 26,2 Net profit margin (%) EBIT margin (%) 12,2 11,3 11,0 11,5 12,9 11,9 11,6 10,5 11,0 11,2 10,6 EBITDA margin (%) 10,1 10,7 10,8 10,0 10,2 11,8 8,6 8,4 Gross margin (%) 6,6 9,6 10,8 10,4 7,0 8,7
Slide 22: Cash flow
Cash flow Cash flow [PLN million] 255,8 Operating cash flows 159,7 Investing cash flows Financing cash flows 11,4 Total cash flows -1,3 -30,2 -36,0 -112,3 -226,9 Q1–Q3 2023 Q1–Q3 2024 • Stable liquidity position of the Group www.autopartner.com 22
Slide 23: Stable stock levels
Stable stock levels Stocks* [PLN million] 1 078,01 113,5 1 025,70 1 019,0 969,3 964,7 993,8 981,3 839,8 827,6 876,0 749,4 656,1 608,7 603,2 469,6 478,8 503,2 491,7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 2024 • Strong inventory turnover: 129 days vs 134 days the
Slide 24: Summary
04. Summary www.autopartner.com 24
Slide 25: Summary
Summary Robust financial performance in Q1-Q3 2024 Strong growth rate in Poland and abroad maintained – sales exceeded PLN 3 billion after the first three quarters Solid profit margins despite market challenges Low debt maintained (net debt/ EBITDA= 1.2x) Good prospects for the parts distr
Slide 26: Thank You!
THANK YOU! ul. Ekonomiczna 20 43–150 Bieruń, Poland www.autopartner.com