AUTO1 Group SE · XETR:AG1
AUTO1 — Baader Investment Conference 2021
31 slides from AUTO1's conference presentation, Sep 20, 2021
Slide 1: Baader Investment Conference 2021
Baader Investment Conference 2021 Markus Boser, CFO 20 SEPTEMBER 2021
Slide 2: Disclaimer
Disclaimer IMPORTANT NOTICE For the purposes of this notice, “Presentation” means this document, its contents or any part of it. This Presentation does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase,
Slide 3: Building the Best Way to Buy and Sell Cars Online
Building the Best Way to Buy and Sell Cars Online 3
Slide 4: Company Overview
Company Overview Since 2012 we are a Game Changer on the Online Market for Used Cars #1 30+ 4,200+ European Automotive Markets Employees Platform 457,431 €2.8bn 10.1% Cars Sold in 2020 Revenue in 2020 Gross Margin in 2020 60,000+ 2.3 M+ 400+ Active Dealers on Cars sold over the last 5 Pick-up and dr
Slide 5: The European Used Car Market is huge and shows further Growth Potential
Company Overview The European Used Car Market is huge and shows further Growth Potential Further Ancillary Products Upsides e.g. Tires, Insurance c.€700bn European Used Car Trading + Financing c.€600bn European Used Car c.€160bn Trading, including B2B B2B 5
Slide 6: We Are Building the Best Online-Only Used Car Dealer in Europe
Company Overview We Are Building the Best Online-Only Used Car Dealer in Europe Customer Benefits Autohero Benefits Broadest Inventory Online No Need to Travel Maximise Demand Easy Online Transaction Haggle-Free Efficient Processes Fully Controlled Production High Quality Cars Economies of Scale Brand B
Slide 7: Why We Are the Industry Leader
Company Overview Why We Are the Industry Leader 1 Fastest Growing Largest Buyer Digital Leading Online Seller from Private Aggregator Automotive ONE COMPANY in EU Consumers Across Europe Dataset ONE PLATFORM ONE TECHNOLOGY ONE PHILOSOPHY Fully Controlled Integrated Scalable Proven Used Car Consumer
Slide 8: We Have Built the Strongest Platform Effects in the Industry
Company Overview We Have Built the Strongest Platform Effects in the Industry More Larger Inventory Selection FROM CONSUMERS TO CUSTOMERS More More SELLERS BUYERS FROM MERCHANTS TO MERCHANTS Higher Economies Purchase Prices of Scale 8
Slide 9: AUTO1 purchases all its cars directly from consumers
Company Overview Direct Sourcing in 10 European countries AUTO1 purchases all its cars directly from consumers, car dealers and large fleet owners in 10 European Countries 9
Slide 10: We Are Sourcing More Cars from Consumers Than Anyone
Scale Autohero Deliveries We Are Sourcing More Cars from Consumers Than Anyone 10,500+ Cars Bought from Consumers 1 Per Week 1 More than 10,500 cars purchased through C2B brands in June 10
Slide 11: We Are Delivering on our Key Objectives for 2021
Company Overview We Are Delivering on our Key Objectives for 2021 Scale Autohero Build Control Deliveries Autohero Brand Autohero GPU Grow Grow Control C2B Units Remarketing Units Merchant GPU 11
Slide 12: Autohero Continues to Grow Strongly with 7x YoY
Scale Autohero Deliveries Autohero Continues to Grow Strongly with 7x YoY Units Delivered 38-43 k 2021 Guidance 8.4 7.8 4.2 2.4 1.2 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 12
Slide 13: We Are Massively Building Our Own Used Car Production Capacities
Scale Autohero Deliveries We Are Massively Building Our Own Used Car Production Capacities Total Projected p.a. Production Capacity Own Production Capacity1 500k+ currently in Screening p.a. across 9 Markets c. 150-200k thereof Projected to be 150- Signed in Germany, 200k France, Spain and Poland wi
Slide 14: We Expect Our Own Production to be Equivalent to 20% of Delivered Cars
Scale Autohero Deliveries We Expect Our Own Production to be Equivalent to 20% of Delivered Cars by December 2021 and Growing in 2022+ Share of Own Production of Delivered Cars 6-8 Own Production Sites Projected to Operate in Germany, France, Italy, Spain and Poland in 2022+ c. 20% c. 20% Dec 2021 2
Slide 15: We Are Bringing Even More of Our Unique Glass Trucks on the Road
Build Autohero Brand We Are Bringing Even More of Our Unique Glass Trucks on the Road to Deliver the Best Customer Experience to More Customers Faster Strongly Expanding Our Unique Glass Truck Delivery Fleet 267 Glass Trucks Ordered and Expected on the Road by End of 2022 Trucks on the Road 143 56 +
Slide 16: Our Unique Glass Truck Home Deliveries Drive Overall NPS
Build Autohero Brand Our Unique Glass Truck Home Deliveries Drive Overall NPS Autohero NPS All markets 78 NPS for Home Glass Truck Delivery Germany1 Delivery Share 22% 25% 14% 7% 10% 63 63 61 53 49 Feb Mar Apr May Jun 1 Refers to June 2021 16
Slide 17: Current Trading Q2 2021
Current Trading Q2 2021 [AUTOfJ|GROUP 17
Slide 18: We Achieved Our First €1b+ Revenue Quarter
Current Trading We Achieved Our First €1b+ Revenue Quarter Revenue Gross Profit €m €m +18% +15% 1,065 900 99 86 Strongest Highest Performance Gross Profit ever ever Q1 2021 Q2 2021 Q1 2021 Q2 2021 18
Slide 19: Our Superior Sell-from-Home Solution Accelerates Our Growth
Current Trading Our Superior Sell-from-Home Solution Accelerates Our Growth Units Sold Revenue k €m +10% +19% QUARTERLY QUARTERLY 116 799 106 98 672 610 Q4 2020 Q1 2021 Q2 2021 Q4 2020 Q1 2021 Q2 2021 19
Slide 20: Remarketing Continues to Show Strong Growth
Current Trading Remarketing Continues to Show Strong Growth Units Sold Revenue k €m 2.3x 3.3x YoY YoY Active Remarketing Dealers1 2195 1842 1612 1425 152 912 131 18 17 17 117 109 15 8 46 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 1 Active Remarketing dealer define
Slide 21: GPU Performance is Ahead of Our Guidance
Current Trading GPU Performance is Ahead of Our Guidance Merchant GPU Retail GPU Gross Profit per Unit Gross Profit per Unit EUR EUR +4% QUARTERLY +42% QUARTERLY 363 717 688 255 Q1 2021 Q2 2021 Q1 2021 Q2 2021 21
Slide 22: We Are Accelerating Our Growth Momentum
Current Trading We Are Accelerating Our Growth Momentum Revenue €b 4.0 - 4.4 3.5 2.9 2.8 2.2 1.5 0.1 0.8 2014 2015 2016 2017 2018 2019 2020 2021 Guidance 22
Slide 23: We Maintain a Disciplined Approach to Cash Management
Current Trading We Maintain a Disciplined Approach to Cash Management €m 849 300 (23) ~ 21 789 (9) 549 LIQUID (30) 550 INVEST. (12) (7) 239 Cash & Liquid Adjusted IPO Change in Consumer CapEx Other Cash Cash & Liquid Invest. BoP EBITDA Expenses Inventory Financing Flow Invest. EoP 03/31/21 Receivabl
Slide 24: We Are Refining Our Guidance on the Back of Stronger Merchant Revenue
Outlook We Are Refining Our Guidance on the Back of Stronger Merchant Revenue and Increased Investments to Accelerate Autohero Sales Units Group Units Merchant Units Autohero 592-623k 554-580k 38-43k Previously 592 - 638k Previously 560 - 600k Previously 32-38k Revenue Gross Profit Adj. EBITDA Margin
Slide 25: Q&A
Q&A [AUTOfJ|GROUP 25
Slide 26: Thanks
AUTO Affe} elt} s) Thanks
Slide 27: Appendix
Appendix 27
Slide 28: Shareholder Structure
Appendix Shareholder Structure Ownership 16/09/21 Strategic shareholders 45.5% Fntmcdqr 25.5% Rnesa`mj 18.3% Nsgdq rsq`sdfhb 1.7% Largest pre-ipo shareholders 16.2% DRS Gkna`k (NTQ 993 & 356) 6.7% S`qfds Gkna`k 5.1% Ohsnm 3.1% Nsgdqr 1.3% At-ipo & post-ipo shareholders 38.3% 28
Slide 29: Group
Appendix Group Q1 2020 Q2 2020 H1 2020 Q1 2021 Q2 2021 H1 2021 Growth Q2 Growth H1 YoY YoY Units Sold 154,338 66,223 220,561 130,537 142,715 273,252 116% 24% ASP (€) 5,685 6,097 5,809 6,891 7,463 7,190 22% 24% Revenue (€m) 877 404 1,281 900 1,065 1,965 164% 53% GPU (€) 577 414 528 662 696 679 68% 29
Slide 30: Segment: Merchant
Appendix Segment: Merchant Q1 2020 Q2 2020 H1 2020 Q1 2021 Q2 2021 H1 2021 Growth Q2 Growth H1 YoY YoY Units Sold 151,975 65,049 217,024 122,722 134,300 257,022 106% 18% Units Sold C2B 141,003 57,157 198,160 106,140 116,367 222,507 104% 12% Units Sold Remarketing 10,972 7,892 18,864 16,582 17,933 34
Slide 31: Segment: Autohero
AUTO1 Financial Figures Segment: Autohero Q1 2020 Q2 2020 H1 2020 Q1 2021 Q2 2021 H1 2021 Growth Q2 Growth H1 YoY YoY Units Sold 2,363 1,174 3,537 7,815 8,415 16,230 617% 359% ASP (€) 14,218 12,944 13,795 12,342 13,565 12,976 5% -6% Revenue (€m) 34 15 49 96 114 211 651% 332% GPU (€) 293 288 291 255