Aramis Group Sa · EURONEXT:ARAMI
Aramis Group Sa — H1 2023 Earnings Presentation
33 slides from Aramis Group Sa's earnings presentation, May 25, 2023
Slide 1: H1 2023 Results
H1 2023 RESULTS MAY 25, 2023 25 MARS 2022
Slide 2: Executive summary
Executive summary UPTURN IN SATISFYING EVOLVING 2023 PROFITABILITY CUSTOMER NEEDS GUIDANCE AND SOUND BALANCE THROUGH TECH REFINED SHEET MANAGEMENT AND TEAMS › Positive organic growth in › Sector-leading €2.166 per car › Positive organic growth volumes of refurbished vehicles GPU in Europe and positi
Slide 3: Unchanged ambition: the preferred digital platform across Europe for buying used cars
Unchanged ambition: the preferred digital platform across Europe for buying used cars 01 02 LEADER FOR CLEAR 3-PILLAR PRODUCTS AND SERVICES PROFITABLE GROWTH STRATEGY ENGAGED AND EMPOWERED MULTI-LOCAL TEAMS ▪ Further refurbished car volumes growth in existing markets VERTICAL INTEGRATION CUSTOMER ▪
Slide 4: Market environment
Market environment 25 MARS 2022
Slide 5: New vehicle market improving in volumes, but still well below 2019 levels
New vehicle market improving in volumes, but still well below 2019 levels N E W PA S S E N G E R C A R R E G I S T R AT I O N S (1) GRADUAL EASING ON THE SUPPLY SIDE LEADING TO -21% 6000 vs H1 2019 ▪ More cars available for delivery to short- and long-term rental companies, which have therefore 4000
Slide 6: Slow used car market with stabilizing prices
Slow used car market with stabilizing prices USED BELOW 8 YEARS USED ALL AGES PA S S E N G E R C A R R E G I S T R AT I O N S (1) PA S S E N G E R C A R P R I C E I N D E X (2) 130 -19% vs H1 2019 6000 120 4000 110 Flat vs H2 2022 100 2000 -8% vs H1 2022 90 25 MARS 2022 Jul-21 Sep-21 Jul-22 Sep-22 J
Slide 7: Aramis Group continuing to grow, with massive potential ahead
Aramis Group continuing to grow, with massive potential ahead ARAMIS GROUP MARKET SHARE ON BELOW 8 YEARS USED CAR MARKET +15.6% Total growth in refurbished car volume vs H1 2022 1.30% 1.21% 1.01% 0.88% 0.63% +4.9% Organic growth 0.43% 0.47% 0.57% in refurbished car volume vs H1 2022 25 MARS 2022 FY
Slide 8: Business highlights
Business highlights 25 MARS 2022
Slide 9: Leveraging our unique competitive advantages to grow sustainably
Leveraging our unique competitive advantages to grow sustainably H1 2023 REVENUES VERTICALLY EMPOWERED 100% INTEGRATED MULTI-LOCAL TEAMS CUSTOMER-CENTRIC €941m 46 70 In-house E-NPS NPS (1) (2) refurbishing centers 8 +8% YoY ENABLED BY A TECH AND DATA DIGITAL PLATFORM 25 MARS 2022 1. Employees Net Pr
Slide 10: Satisfying customers is about providing them with the cars they need under the right conditions
Satisfying customers is about providing them with the cars they need under the right conditions A MIX OF MORE AFFORDABLE CARS, IMPROVE THE RANGE OF CARS LEVERAGING OUR MULTI-CHANNEL WITH CATEGORIES BETTER SUITED TO EVERYDAY NEEDS SOURCING CAPABILITIES ILLUSTRATION: ( 1 ) ORIGIN OF B2C REFURBISHED CA
Slide 11: Gaining customers at a lower cost: improving marketing efficiency
Gaining customers at a lower cost: improving marketing efficiency ARAMIS GROUP COCA AND C H A N G E I N B R A N D A W A R E N E S S (2) M O N T H L Y W E B S I T E V I S I T S (1) November May 2022 2023 6.7 6.0 5.7 Aramisauto 66% 60% 5.2 514 Clicars 20% 21% 440 341 361 Cardoen 71% 64% CarSupermarket
Slide 12: Progress with integrating the new companies
Progress with integrating the new companies SIGNIFICANT INVENTORY REDUCTION S T R E A M L I N E D T E A M S P R E PA R I N G F O R AT O N L I N E C A R S A CC E L E R AT I O N AT B R U M B R U M 168 146 138 124 103 84 84 90 49 48 46 40 37 36 25 MA Oct-22 R S 2 0 2Dec-22 Nov-22 2 Jan-23 Feb-23 Mar-23
Slide 13: Financial performance review
Financial performance review 25 MARS 2022
Slide 14: H1 2023 financial highlights
H1 2023 financial highlights Revenues €941m +8% YoY growth POSITIVE ORGANIC GROWTH B2C refurbished segment volumes +16% +5% YoY growth YoY organic growth Gross Profit per Unit (GPU) €2,166 EUROPEAN LEADING GPU Adjusted EBITDA €1.0m Capex 1% SOUND of revenues BALANCE SHEET 25 MARS 2022 MANAGEMENT Ope
Slide 15: Continued growth in all segments, with pre-registered still behind last year
Continued growth in all segments, with pre-registered still behind last year, but improving sequentially REVENUES PER SEGMENT (in millions of euros) 51 B2C refurbished +18% B2C pre-registered -32% 47 106 Created by Icomatic Created by Icomatic fromthe Noun Project from the Noun Project 99 102 Create
Slide 16: Solid performance in France
Solid performance in France REVENUES PER COUNTRY Created by Icomatic from the Noun Project France +8% Created by Icomatic fromthe Noun Project Belgium +4% (in millions of euros) 5 68 Spain -3% United Kingdom -15% 178 Created by Icomatic Created by Icomatic fromthe Noun Project from the Noun Project
Slide 17: Market leading GPU in Europe
Market leading GPU in Europe CHANGE IN GPU ARAMIS GROUP’S GPU COMPONENTS (in € per B2C vehicle sold) €2,311 › Car acquisition costs €2,166 €1,970 › All manufacturing costs Contrary to the IFRS 16 rule, which requires rents to be recorded below EBITDA, the GPU as calculated by Aramis Group already ta
Slide 18: Discipline on costs: stable SG&A
Discipline on costs: stable SG&A TOTA L S G & A (in millions of euros) 92 93 94 15 15 17 14 17 13 Created by Icomatic fromthe Noun Project Marketing costs Created by Icomatic from the Noun Project Labor costs in SG&A Downstream logistics costs 42 Created by Icomatic fromthe Noun Project 44 48 (1) Cr
Slide 19: Adjusted EBITDA back in positive territory
Adjusted EBITDA back in positive territory ADJUSTED EBITDA BRIDGE (in millions of euros) 6.6 0.3 -1.1 -0.9 4.7 2.9 3.5 -2.6 1.0 -2.6 -6.3 25 MARS 2022 H1 2022 Volumes Volumes GPU Marketing costs Labor costs Downstream Other costs H1 2023 Austria and Italy H1 2023 pre-registered refur
Slide 20: Inventory levels adapted to current market environment
Inventory levels adapted to current market environment O P E R AT I N G W O R K I N G C A P I TA L O P E R AT I N G W O R K I N G C A P I TA L REQUIREMENTS (1) I N N U M B E R O F D AY S O F R E V E N U E S (in millions of euros) 214 Non-cash effect of change in 196 scope for consolidation 23 26 150
Slide 21: Sound balance sheet management, with most of the increase in net debt coming from acquisitions
Sound balance sheet management, with most of the increase in net debt coming from acquisitions CHANGE IN NET DEBT (in millions of euros) FINANCING CAPACITY 18.4 85.1 110.1 -29.2 €170m of available 1.0 credit lines, usable -37.5 without conditions -8.2 -0.6 -10.2 -1.3 -5.9 Net debt 25
Slide 22: Outlook
Outlook 25 MARS 2022
Slide 23: Refined FY 2023 guidance
Refined FY 2023 guidance Except in the event of a further deterioration OUTLOOK FOR COMING QUARTERS in the macroeconomic environment FY 2023 FY 2023 Multiple dynamics challenging the market balance (previous) (new) and blurring the short-term outlook Positive organic Positive organic SUPPLY B2C REFU
Slide 24: Q&A
Q&A 25 MARS 2022
Slide 25: Appendices
Appendices 25 MARS 2022
Slide 26: Financial calendar
Financial calendar July 17, 2023 (after market) November 28, 2023 (after market) Q3 2023 revenues FY 2023 results 25 MARS 2022 26
Slide 27: Aramis Group's key investment highlights
Aramis Group’s key investment highlights 1 Massive and fragmented market undergoing online disruption 2 Strong customer value proposition resulting in market leadership positions 3 Highly efficient, scalable and vertically integrated end-to-end platform 4 Data-driven business approach underpinned by
Slide 28: Governance bodies that combine operational excellence with a sustainable development approach
Governance bodies that combine operational excellence with a sustainable development approach Board of Directors composition Specialized committees Céline Vuillequez Independent Delphine Mousseau Patrick Bataillard director Independent director Board of Directors Head of CSR Independent director com
Slide 29: Shareholding structure with deep car market expertise and insights
Shareholding structure with deep car market expertise and insights As at March 31, 2023 17.76% 21.70% 82,856,671 outstanding shares and theoretical voting rights (1) 25 MARS 2022 60.54% Founders Stellantis Public 1. The theoretical total number of voting rights is calculated based on all of the shar
Slide 30: Income statement key metrics
Income statement key metrics In € millions On a reported basis H1 2023 H1 2022 % change Revenues 940.8 872.6 +7.8% Gross profit 95.3 95.2 0.0% Gross profit per unit (in € per B2C vehicle sold) 2,166 2,311 -6.3% Adjusted EBITDA 1.0 2.9 -66.2% Operating profit -7.8 -17.9 -56.3% Net result (loss) -12.6
Slide 31: Balance sheet
Balance sheet In € thousands Mar 31, 2023 Sep 30, 2022 In € thousands Mar 31, 2023 Sep 30, 2022 Goodwill 63,640 44,264 Share capital 1,657 1,657 Other intangible assets 60,865 52,759 Additional paid-in capital 271,165 271,162 Property, plant and equipment 42,784 26,080 Reserves (59,864) (463,942) Ri
Slide 32: Legal Disclaimer
Legal Disclaimer Certain information included in this presentation is not historical data but forward-looking statements. These forward-looking statements are based on current beliefs and assumptions, including, but not limited to, assumptions about current and future business strategies and the env
Slide 33: 25 MARS 2022
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