Auto Partner Sa · GPW:APR
Auto Partner Sa — Q3 2022 Earnings Presentation
26 slides from Auto Partner Sa's earnings presentation, Nov 17, 2022
Slide 1: Financial Results Auto Partner Group Q1–Q3 2022
FINANCIAL RESULTS AUTO PARTNER GROUP Q1–Q3 2022 November 17th 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 Vice President of the Vice President of the Management Board/Founder Management Board Management 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 Approximately Sales in more than in domestic market 250,000 references 30 countries of spare parts available 15.5m parts warehoused About 62% of orders placed Member of GlobalOne GPO throughout Poland online www.autopartner.com 6
Slide 7: Business model
Business model broad product range premium brands, private brands human resources own brand over 1,700 employees SUPPLIERS MaXgear OF FINISHED sales PRODUCTS other brands sales support warehouse/logistics IT online orders export deliveries to branch offices over 100 branch offices local warehouse de
Slide 8: Key developments in Q1–Q3 2022
Key developments in Q1–Q3 2022 25% sales growth to almost PLN 2.1bn – for the first time the PLN 2bn mark already surpassed in the first nine months of the year Continued foreign expansion – exports accounting for 50% of revenue, Strong profitability maintained, with steep growth in the scale of bus
Slide 9: 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 10: New Auto Partner branches opened in Q1–Q3 2022
New Auto Partner branches opened in Q1–Q3 2022 NEW AP BRANCHES GRUDZIĄDZ OTWOCK JAROSŁAW SZCZECINEK TYCHY BOLESŁAWIEC MYŚLENICE KUTNO 11 new branch offices RADOMSKO in Q1–Q3 2022 WIELUŃ ZABRZE Current network: 115 branch offices* throughout Poland • as at September 30th 2022 www.autopartner.com 10
Slide 11: Growing contribution of exports to total revenue
Growing contribution of exports to total revenue Sales in over 30 countries Fast growth in exports 50% 46% 42% 39% 1 034,4 1 040,8 33% 27% 707,1 569,3 385,2 252,2 2017 2018 2019 2020 2021 1-3Q 2022 www.autopartner.com 11
Slide 12: Growing importance of own brand
Growing importance of own brand Suspension Brakes Filtres Drivetrain 35,029 and available products steering 16 years of experience Automotive Motorcycle Cooling Air chemicals and parts and system conditioning 80 care products accessories product groups 21% contribution to revenue Engine Hydraulic El
Slide 13: Market environment
02. Market environment www.autopartner.com 13
Slide 14: Market environment
Market environment POLAND EUROPA (European Union) • In the first nine months of 2022, the number of • 662 cars per 1,000 inhabitants of the European Union registrations fell by 9% year on year in the case of new (according to ACEA); passenger cars and by 17% in the case of light commercial • ACEA: i
Slide 15: Financial results
03. Financial results www.autopartner.com 15
Slide 16: Record-breaking performance figures for Q1–Q3 2022
Record-breaking performance figures for Q1–Q3 2022 REVENUE EBITDA EBIT NET PROFIT 2,098.0 235.9 212.2 156.5 PLNm PLNm PLNm PLNm +25% +16% +15% +8% www.autopartner.com 16
Slide 17: Q1–Q3 2022 sales at all-time record level
Q1–Q3 2022 sales at all-time record level Q1−Q3 2022 sales [PLNm] Sales by geographies [PLNm] 2,097.7 1,674.5 758,3 1,040.8 45% 50% Q1–Q3 Q1–Q3 50% 55% 2021 2022 1,057.0 916.3 Q1–Q3 2021 Q1–Q3 2022 Domestic sales Export sales • revenue up +25.3% y/y • Strong growth in export sales: up +49.6% y/y • G
Slide 18: Strong quarterly sales growth
Strong quarterly sales growth Quarterly sales [PLNm] 751.2 706.9 639.6 587.2 611.6 587.5 469.5 475.7 433.1 392.9 391.5 368.3 371.1 396.7 303.4 303.7 294 326.7 253.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2018 2019 2020 2021 2022 • Strong two-digit growth in sales (+23% y/y) continu
Slide 19: Significant growth in profits and earnings
Significant growth in profits and earnings Gross profit EBITDA EBIT Net profit [PLNm] [PLNm] [PLNm] [PLNm] 622.8 235,9 203.4 212.2 477.3 +31% 184.0 144.4 156.5 +16% +15% +8% Q1–Q3 2021 Q1–Q3 2022 Q1–Q3 2021 Q1–Q3 2022 Q1–Q3 2021 Q1–Q3 2022 Q1–Q3 2021 Q1–Q3 2022 • Solid year-on-year growth across all
Slide 20: Gross profit
Gross profit Profit margin 30.3 30.7 30.3 [%] 29.5 29.3 29.6 29.2 28.1 28.4 27.7 27.6 26.5 26.8 27.0 26.6 26.0 26.0 26.2 24,5 214.3 219.4 189.2 172.3 173.6 180.3 131.8 127.7 131.4 120.1 86.9 96.3 101.9 101.8 97.3 78.8 81.5 79.4 67.4 PLNm Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2018
Slide 21: Profit margin
Profit margin 30.2 29.3 30.7 30.3 27.7 28.1 32.0 27.6 28.4 29.2 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 11.5 10.5 11.0 11.2 7.8 10.8 10.2 11.8 9.4 10.4 9.9 10.1 EBITDA margin (%) Gross margin (%) 6.9 7.4 6.6 10.0 9.6 10.8 6.1 9.5 7.4 6.8 7.1 7.9 7.2
Slide 22: Cash flow
Cash flow Cash flow [PLNm] Operating cash flows Investing cash flows Financing cash flows 89.5 Total cash flows 27.8 13.4 5.3 -10.6 -11.9 -27.9 -48.1 Q1–Q3 2021 Q1–Q3 2022 • Stable liquidity position of the Group www.autopartner.com 22
Slide 23: Stable stock levels
Stable stock levels Stocks* [PLNm] 876.0 839.8 827.6 749.4 656.1 608.7 603.2 478.8 503.2 491.7 439.8 447.3 448.2 448.2 468.1 469.6 382.8 391.2 403 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2018 2019 2020 2021 2022 • Inventory turnover as at September 30th 2022: 151 days vs 131 days th
Slide 24: Summary
04. Summary www.autopartner.com 24
Slide 25: Summary
Summary Record high sales and financial results Over 37% growth in export sales Solid margins maintained despite a challenging market environment Low debt maintained (net debt/ EBITDA= 1.3x) – a major advantage given the rising borrowing costs Sales in October: PLN 254.7m – the full-year 2
Slide 26: Thank you!
THANK YOU! ul. Ekonomiczna 20 43–150 Bieruń, Poland www.autopartner.com