Auto Partner Sa · GPW:APR
Auto Partner Sa — FY2019 Earnings Presentation
24 slides from Auto Partner Sa's earnings presentation, April 2020
Slide 1: Auto Partner Group
Auto Partner Group April 2020
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 Group 2. Market environment 3. Financial performance 4. Covid-19 www.auto-partner.pl 3
Slide 4: 1. About the Group
1. About the Group AUTOPARTNER - ‘- » >. >
Slide 5: Management Board of the Group
Management Board of the Group Aleksander Górecki President of the Management Board/Founder Andrzej Manowski Vice President of the Management Board Piotr Janta Vice President of the Management Board www.auto-partner.pl 5
Slide 6: Auto Partner Group at a glance
Auto Partner Group at a glance ca. 10% share in the Polish market of spare parts distribution ca. 200,000 references available 12m parts stored in warehouses throughout Poland over 200 global suppliers 22 sale markets 62% online orders GlobalOne international GPO membership www.auto-partner.pl 6
Slide 7: Key developments in 2019 – business growth
Key developments in 2019 – business growth ▪ Record annual sales posted by the Group (PLN 1.48bn) ▪ Seven new branches opened in Poland ▪ Launch of expanded warehousing centre in Bieruń ▪ Expansion into new markets (exports, new market segments) ▪ Continued strong deployment of IT tools to support p
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 ▪ Total warehousing space at the Group (held under leases) – over 100,000 square metres: ❑ Distribution centre in Bieruń (41,000 square met
Slide 9: 2. Market environment
2. Market environment AUTOPARTNER - ‘- » >. >
Slide 10: Market environment 2019
Market environment 2019 POLAND EUROPE ▪ Approximately 17.6m passenger cars in Poland ▪ Approximately 268m passenger cars ▪ Average car age: 13.2 years (according to IBRM SAMAR) in Europe (according to ACEA) ▪ High number of passenger car registrations ▪ Average car age: 11.1 years (according to ACEA
Slide 11: Market environment 2019/2020
Market environment 2019/2020 POLAND, PZPM data Total number (as at Dec 31 2019) % change y/y Registrations of passenger cars 555,598 +4.5% Registrations of light commercial 69,872 1.5% vehicles (< 3.5 t) Total registrations (passenger cars 625,470 4.1% and light commercial vehicles) Change in regist
Slide 12: Market environment – 2020
Market environment – 2020 ▪ Good beginning of 2020: ▪ Favourable conditions and positive market trends in the automotive parts distribution sector despite economic slowdown across Europe ▪ Purchasing power staying solid in Poland and Europe ▪ High inflation ▪ Good GDP growth forecasts for Poland and
Slide 13: 3. Financial performance
3. Financial performance AUTOPARTNER - ‘- » >. >
Slide 14: 2019 highlights
2019 highlights REVENUE EBITDA EBIT NET PROFIT PLN PLN PLN PLN 1.5 billion 103.9 million 83.8 million 58.7 million +28% +16% +3% 0% www.auto-partner.pl 14
Slide 15: Double-digit sales growth recorded for years
Double-digit sales growth recorded for years Annual sales [PLNm] Sales by geographies [PLNm] 1,479.40 1,479.4 1,155.0 914.9 1,155.0 569.3 705.4 385.2 Export 518.6 Poland 910.1 769.8 2015 2016 2017 2018 2019 2018 2019 ▪ Record annual sales posted in 2019 (+28% y/y) ▪ Increase in exports to 38% of tot
Slide 16: Quarterly sales
Quarterly sales Quarterly sales 2018 − 2019 [PLNm] 392.9 391.5 368.3 326.7 303.4 303.7 293.9 253.9 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2018 2019 ❑ High sales recorded in all quarters of 2019 ❑ Rapid development of the product mix, including new categories (lighting, tools) ❑ Expansion of distribution network (b
Slide 17: Profitability squeezed by higher costs
Profitability squeezed by higher costs 2019 profit figures [PLNm] +26% 400 386.9 2018 307.0 2019 300 +16% +3% 200 0% 103.9 89.6 81.0 83.8 100 58.6 58.7 0 Zysk brutto ze EBITDA EBIT zysk netto sprzedaży ▪ 26% growth in gross profit in 2019 ▪ Net profit broadly unchanged year over year ▪ Significant i
Slide 18: Gross profit
Gross profit 27.7 27.1 26.8 26.5 26.6 Margin % 26.0 26.0 101,9 101,8 96,3 86,9 78,8 81,5 79,4 24.5 67,4 PLNm 1Q 2018 2Q 2018 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019 ▪ Lower profit margins YTD, due mainly to weaker Q2, with a temporary performance drop reflecting strong expansion into new sal
Slide 19: Profit margins
Profit margins % Q4 2019 Q3 2019 Q2 2019 Q1 2019 % 2019 2018 Gross margin 27.65% 26.03% 24.51% 26.59% Gross margin 26.15% 26.58% EBITDA margin 7.37% 6.94% 6.09% 7.84% EBITDA margin 7.02% 7.76% EBIT margin 5.69% 5.66% 4.89% 6.57% EBIT margin 5.70% 7.00% Net margin 3.83% 4.01% 3.43% 4.74% Net margin 3
Slide 20: Mitigating the impact of costs on result in 2019
Mitigating the impact of costs on result in 2019 ▪ Further automation/ deployment of IT tools to support processes at the company (warehousing, invoicing, transport) ▪ Steadily growing share of online orders (new AP CAT catalogue) ▪ Rising costs passed on through product prices www.auto-partner.pl 2
Slide 21: Stable stock levels at year end 2019
Stable stock levels at year end 2019 Stocks* [PLNm] 500 447.3 448.2 448.2 468.1 400 439.8 410.7 382.8 391.2 366.9 300 200 100 0 4Q 2017 1Q 2018 2Q 2018 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 4Q 2019 ▪ Stock levels at year end 2019: PLN 468.1m (slight increase +6.4% y/y) ▪ Stable stock levels despite the
Slide 22: 4. COVID-19
4. COVID-19 AUTOPARTNER >. = >
Slide 23: Measures taken in response to COVID-19
Measures taken in response to COVID-19 → Minimising the risk of SARS-CoV-2 infections by ensuring the safety of staff at offices, warehouses, branches and repair shops in accordance with GIS and WHO recommendations → Funds allocated to build up adequate stocks – to prepare for sales after lockdown r
Slide 24: THANK YOU!
THANK YOU! ul. Ekonomiczna 20 43–150 Bieruń www.auto-partner.pl