Slide 1: Full Year Results
Full Year Results Year ended 27 March 2016 9th June 2016
Slide 2: Disclaimer (1 of 2)
Disclaimer 2 Disclaimer (1 of 2) Not for distribution or release, directly or indirectly, in or into any jurisdiction in which the distribution or release would be unlawful. By attending the meeting where this presentation is made or by reading this document, you agree to be bound by the limitations
Slide 3: Disclaimer (2 of 2)
Disclaimer 3 Disclaimer (2 of 2) The information and opinions provided in this presentation are provided as of the date of this presentation. Certain statements in this presentation constitute forward-looking statements. Any statement in this presentation that is not a statement of historical fact i
Slide 4: Financial Highlights
Overview 4 Financial Highlights Revenue: up 10% to £281.6 million (2015: £255.9 million) Underlying operating profit: up 19% to £171.3 million (2015: £144.1 million) Underlying operating profit margin: up 5% points to 61% (2015: 56%) Operating cash flow: up 30% to £177.0 million (2015: £135.8 millio
Slide 5: Key Drivers
Overview 5 Key Drivers Cross platform visits: 47.9 million on average each month: 6 times larger than our nearest competitor Advert Views: up 7.5% to 243 million per calendar month (2015: 226 million) generating more response for our customers Customers: retailer forecourts up 0.5% to 13,514 (2015:
Slide 6: Revenue
Financial Statements – March Year End 6 Revenue Number of Retailer Forecourts (1) Revenue (£m) Year ended March 2016 is shown as 2016 . YoY% 1.6% 2.5% 0.5% 8% 10% YoY 9% Growth 23% 4% Average Revenue Per Retailer (ARPR) (£) (1) YoY% 8.5% 6.0% 10.5% 10% Retailer Revenue (£m) YoY% 10.3% 8.7% 11.1% 8.6
Slide 7: Costs
Financial Statements – March Year End 7 Costs Employees & Contractors (Average) Costs(1)(£m) Year ended March 2016 is shown as 2016 . YoY% (12%) (6%) 3% (4%) (1%) YoY Growth (15%) Marketing % of Revenue 1% 2% (0%) Continuing Capital Expenditure (£m) (1) 2016: Administrative Expenses (£112.0m) before
Slide 8: Profit & Cash Flow
Financial Statements – March Year End 8 Profit & Cash Flow Underlying operating profit (£m) Operating cash flow Year ended March 2016 is shown as 2016 Year ended March 2016 is shown as 2016 Margin 53% 56% 61% 2014 2015 2016 Cash Conversion Growth 9% (Operating cash flow as % of 79% 87% 97% % 14% 19%
Slide 9: Income Statement
Financial Statements – March Year End 9 Income Statement
Slide 10: Net External Debt & Capital Structure
Financial Statements – March Year End 10 Net External Debt & Capital Structure Reconciliation of Net External Debt (1) Capital Structure Year ended March 2016 is shown as 2016 IPO aim of 2.0x leverage achieved post year end 2014 2015 2016 Leverage 7.2x 3.4x 2.2x Future annual dividend will rise
Slide 11: Key Drivers & Outlook
Key Drivers & Outlook
Slide 12: Market
Key Drivers 12 Market New Car Registrations (1) Used Car Transactions (2) 13% 7.5% 5.9% 4.8% 0.8% 6.0% (1) Source: Society of Motor Manufacturers & Traders (SMMT) - 12 month (2) Source: DVLA transaction data - 12 month rolling total rolling total
Slide 13: Audience & Engagement
Key Drivers 13 Audience & Engagement Visits (1) Advert Views (2) (12 month average to March - million) (average pcm - million) Growth 6x 6x 14x 18x % 6.6% 7.5% Device Valuations (million) 30% c.70% from a mobile device (1) comScore MMX ® in Europe – average for the twelve months to March 2016 (2) Co
Slide 14: Competitive Position
Key Drivers 14 Competitive Position March 2016 Size of bubble = share of cross-platform average minutes spent on online auto classified sites (March 2016) Cross-platform visits (m) Stock of cars listed (‘000) Source: Autobiz (for stock data with the exception of CarGuru and Trusted Dealer where we h
Slide 15: TV Campaign Montage
Key Drivers 15 TV Campaign Montage
Slide 16: Integrated Marketing Beyond TV
Key Drivers 16 Integrated Marketing Beyond TV
Slide 17: Part-Exchange Guide Product
Key Drivers 17 Part-Exchange Guide Product Woods Woods of Manchester Ltd 07745 874 832 AV59 WSD Sa 34,455 Woods Woods of Manchester Ltd Consumer on FPA Scroll down FPA Enter reg no. and Send details to retailer mileage of your car
Slide 18: Part-Exchange Guide between Consumer & Retailer
Key Drivers 18 Part-Exchange Guide between Consumer & Retailer Jonathan Smith 09864 774993 jsmith45@hotmail.com VX56 OBW Volkswagen Scirocco Coupe 2.0 (01845) 743901 23,587 £9,000 09-05-2016 09:22 RT15 UVW Vauxhaull Zafira 2.0 CDTi 5dr 34,000 £12,000 Guide for consumer Lead emailed to retailer
Slide 19: Cross-Platform Display Proposition
Key Drivers 19 Cross-Platform Display Proposition c.70% Visits from a mobile device Cross-Device In Search Mobile Home Page Takeover
Slide 20: Retailer
Key Drivers 20 Retailer ARPR Levers Car stock on site ARPR growth (£) £93 £71 £132 (%) 8.5% 6.0% 10.5%
Slide 21: Cross Sell
Key Drivers 21 Cross Sell RETAILING SOLUTIONS = BUYING + MARKETING + MANAGING Retailing Solutions Revenue (£m) Managing Pillar Forecourts (#) Year ended March 2016 is shown as 2016 Average number in the month of March Growth % 11% Penetration (1) 14% c. c. (1) Based on the average number of retailer
Slide 22: FY17 Outlook
Summary 22 FY17 Outlook Automotive trends expected to remain positive Retailer forecourt numbers unlikely to decline even with industry consolidation ARPR growth expected to be high single digit Consumer Services revenue to grow moderately Display Advertising momentum to continue Underly
Slide 23: Questions
= Autolrader
Slide 24: Appendices
Appendices
Slide 25: Automotive Marketplace
Appendix 25 Automotive Marketplace
Slide 26: Cash Flow Statement
Appendix 26 Cash Flow Statement Movement in Working Capital: represents c.1% of revenue Capital expenditure totaled £3.1m with the majority of the spend relating to continuing hardware upgrades. Singleview spend amounted to £0.5m Cash conversion increased to 97% resulting from an increase in W
Slide 27: Balance Sheet
Balance Sheet ASSETS Intangible Assets Property, plant & equipment Deferred tax assets BORROWINGS Syndicated Term Loan gross of unamortised debt issue costs Unamortised debt issue costs Non-current assets Trade and other receivables Cash and cash equivalents Assets held for resale Current assets LIA
Slide 28: Five Year Record
Five Year Record 2015 2014 2013 2012 Year to 31 March £m £m £m £m Revenue 255.9 237.7 218.9 209.1 Administrative expenses (1228) (139.0) (109.8) (101.4) Operating profit before share based payments and associated NI, management 144.1 126.2 116.1 111.6 incentive plans, exceptional items and impairmen
Slide 29: Notes
Appendix 29 Notes
Slide 30: Notes
Appendix 30 Notes