Aramis Group Sa · EURONEXT:ARAMI
Aramis Group Sa — FY2022 Earnings Presentation
37 slides from Aramis Group Sa's earnings presentation, Dec 1, 2022
Slide 1: FY 2022 Results
FY 2022 RESULTS D E C E M B E R 1 st, 2 0 2 2
Slide 2: Executive summary
Executive summary CONTINUED A YEAR OF MAJOR UNPRECEDENTED OUTPERFORMANCE OPERATING AND MARKET ENVIRONMENT OF ARAMIS GROUP STRATEGIC LIMITING SHORT-TERM DESPITE ACHIEVEMENTS, MOVING VISIBILITY UNPRECEDENTED TOWARDS THE OBJECTIVE MARKET CONDITIONS TO BECOME THE UNCHANGED LONG-TERM PREFERRED PLATFORM G
Slide 3: Aramis Group addresses a huge and highly fragmented market
Aramis Group addresses a huge and highly fragmented market with a superior customer value proposition served by a unique business model EUROPEAN USED CAR MARKET T H E A R A M I S G R O U P W AY Created by Icomatic from the Noun Project MASSIVE GROWING AND RESILIENT ENGAGED AND EMPOWERED Created by I
Slide 4: A 3-pillar growth strategy for a clear ambition to become the preferred digital platform
A 3-pillar growth strategy for a clear ambition to become the preferred digital platform across Europe for buying used cars 01 02 03 DELIVER REFURBISHED USED CAR CONTINUE EUROPEAN CAPTURE ADDITIONAL GROWTH IN EXISTING MARKETS EXPANSION SIGNIFICANT GROWTH POTENTIAL INCREASE TRAFFIC AND TARGETED M&A A
Slide 5: Market environment
Market environment ARAMISGROUP
Slide 6: Unprecedented market environment for new cars in over 20 years
Unprecedented market environment for new cars in over 20 years Very low inventories at both N E W PA S S E N G E R C A R S OEMs and dealers due to R E G I S T R AT I O N S (1) disruptions from the health crisis, semiconductor shortages, and geopolitical and logistical turmoil 2022 vs 2021 2022 vs 20
Slide 7: Used car market slowing down, due to tighter household consumption
Used car market slowing down, due to tighter household consumption in a highly inflationary environment U S E D PA S S E N G E R C A R S U S E D PA S S E N G E R C A R S P R I C E I N D E X (1) R E G I S T R AT I O N S (2) 140 -2% -3% -15% -13% 4 500 120 3 500 100 80 2 500 Jan-21 Apr-21 Jul-21 Oct-2
Slide 8: Aramis Group a structural outperformer vs the market
Aramis Group a structural outperformer vs the market SPREAD BETWEEN CHANGE IN ARAMIS GROUP REFURBISHED C A R V O L U M E S A N D T H E TOTA L U S E D C A R M A R K E T (1) (in percentage points) 80 pp +47 pp 2022 60 pp average 40 pp 20 pp 0 pp (2) (2) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022
Slide 9: Regular market share gains, with massive potential for further growth
Regular market share gains, with massive potential for further growth ARAMIS GROUP MARKET SHARE ON ITS ARAMIS GROUP MARKET SHARE ON THE D O M E S T I C U S E D C A R M A R K E T S (1) TOTA L E U R O P E A N U S E D C A R M A R K E T (2) 1,52% 1,53% 1,45% 1,29% 1,47% 1,29% 1,00% 0,75% 0,76% 0,80% 0,6
Slide 10: Business highlights
Business highlights ARAMISGROUP
Slide 11: A strong year of operating and strategic achievements
A strong year of operating and strategic achievements FY 2022 REVENUES VERTICALLY EMPOWERED 100% INTEGRATED MULTI-LOCAL TEAMS CUSTOMER-CENTRIC €1,769m 47 71 In-house E-NPS NPS (1) (2) refurbishing centers 7 +29% +40% on a on a ENABLED BY A TECH AND DATA DIGITAL PLATFORM pro forma reported basis basi
Slide 12: Successful large-scale switch to C2B sourcing
Successful large-scale switch to C2B sourcing, enabled by our people’s agility and enhanced by artificial intelligence-based digital tools A U TO M AT I O N O F I M A G E Q U A L I T Y ORIGIN OF B2C RECOGNITION FOR PRODUCTIVITY GAINS REFURBISHED CARS SOLD IN C2B CAR SOURCING (%) 50,125 69,384 39% 53
Slide 13: Strong local brands loved by customers
Strong local brands loved by customers, while traffic acquisition expenses were adjusted to the current market environment AV E R A G E M O N T H LY V I S I T S B R A N D A W A R E N E S S (2) FOR ARAMIS GROUP WEBSITES (in millions) May November 6,1 2022 2022 5,9 Aramisauto 66% 66% Clicars 17% 20% 7
Slide 14: Opening of two new industrial-scale refurbishing centers
Opening of two new industrial-scale refurbishing centers, while continuously improving existing ones Hull End-2022 Goole Antwerp Nemours Graz Reggio Emilia Donzère Madrid 14
Slide 15: Two more geographies recently added to further increase European reach
Two more geographies recently added to further increase the Group’s European reach Market leader for refurbished vehicle sales Austrian used car market in Austria > Inception: 2005 > #11 in Europe Vienna > 2022 revenues: 168 M€, c.9k units (8.2k B2C) > c.210k yearly transactions (2) > 2022 EBITDA: c
Slide 16: Leveraging opportunities offered by the current market downturn
Leveraging opportunities offered by the current market downturn Milan Only fully online used car dealer in Italy Italian used car market Reggio Emilia > Inception: 2016 > #4 in Europe > 2022 revenues (1): 19 M€, c.1.3 k units (c. 900 B2C) > c. 800k yearly transactions (2) > Loss-making on EBITDA > B
Slide 17: Performance review
Performance review ARAMISGROUP
Slide 18: 2022 financial highlights
2022 financial highlights FY 2022 Updated guidance SUSTAINED Total revenues €1,769m > €1,700m (+29% YoY growth(2)) TOP-LINE GROWTH (2) (2) B2C refurbished segment volumes +38% around +40% YoY growth YoY growth Gross Profit per Unit (GPU) €2,142 EUROPEAN MARKET LEADING MARGIN Adjusted EBITDA -€10.7m
Slide 19: Strong revenue growth, with refurbished volumes offsetting pre-registered decline
Strong revenue growth, with volumes of refurbished vehicles sold more than offsetting the decline in pre-registered vehicle ones REVENUES PER SEGMENT (in millions of euros) 1,769 +29% B2C refurbished +71% B2C pre-registered -48% 91 Created by Icomatic Created by Icomatic fromthe Noun Project from th
Slide 20: All geographies contributing to growth
All geographies contributing to growth, with France and Belgium impacted by their historical exposure to pre-registered REVENUES PER COUNTRY (in millions of euros) 1,769 +29% Created by Icomatic fromthe Noun Project France +7% Created by Icomatic from the Noun Project Belgium +20% 433 1,369 280 370
Slide 21: Gross Profit per Unit at market-leading levels in Europe
Gross Profit per Unit at market-leading levels in Europe (€/unit) GPU I M PAC T S W I T H I N G P U C H A N G E 2,292 2,142 38% Created by Icomatic fromthe Noun Project Country mix Operating effects 62% Created by Icomatic from the Noun Project 2021 (1) 2022 Erosion of the “metal” part of the GPU, G
Slide 22: Cost structure under control, with SG&A stabilized
Cost structure under control, with SG&A stabilized sequentially in H2 2022 Marketing costs TOTA L S G & A Created by Icomatic from the N oun Project (in millions of euros) C reated by Icomatic from the Noun Project Labor costs 186 Created by Icomatic from the N oun Project Delivery costs C reated by
Slide 23: Adjusted EBITDA in negative territory
Adjusted EBITDA in negative territory, mainly due to the collapse of pre-registered volumes (in millions of euros) ADJUSTED EBITDA BRIDGE 37.2 +44.7 -10.7 -7.1 -18.6 -4.5 -44.2 -7.5 -10.7 FY 2021 (1) Volumes Volumes GPU Marketing costs Labor costs Delivery costs Other costs FY 2022 preregistered ref
Slide 24: Major effort to rationalize inventories
Major effort to rationalize inventories in order to better adapt to the current market environment O P E R AT I N G W O R K I N G C A P I TA L I N N U M B E R O F D AY S O F R E V E N U E S R E Q U I R E M E N T S (1) (in millions of euros) 214 48 150 129 22 26 28 23 36 24 265 34 174 185 31 -47 -56
Slide 25: Change in net debt reflecting operating dynamics
Change in net debt reflecting operating dynamics CHANGE IN NET DEBT (in millions of euros) FINANCING CAPACITY +18.4 -9,3 Created by Icomatic from the Noun Project €189m of available credit lines, usable -1,6 -37.3 -2,0 -28.2 without conditions -25,2 Created by Icomatic from the Noun Project Includin
Slide 26: Outlook
ARAMISGROUP
Slide 27: 2023 outlook
2023 outlook OUTLOOK FOR COMING QUARTERS OBJECTIVES Unless further deterioration of the Limited visibility due to the macroeconomic, macroeconomic environment geopolitical and automotive environment REFURBISHED CARS Positive organic B2C REFURBISHED growth in volumes of Demand progressively affected
Slide 28: ARAMISGROUP
A ARAMISGROUP
Slide 29: Appendices
Appendices ARAMISGROUP
Slide 30: Financial calendar
Financial calendar January 25, 2023 (after market) February 10, 2023 May 24, 2023 (after market) Q1 2023 revenues Annual General meeting H1 2023 results July 17, 2023 (after market) November 28, 2023 (after market) Q3 2023 revenues FY 2023 results 30
Slide 31: 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 32: Governance bodies combining operational excellence with sustainable development
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 Independent director Head of CSR com
Slide 33: Shareholding structure with deep car market expertise and insights
Shareholding structure with deep car market expertise and insights As at September 30, 2022 17.48% 21.96% 82,856,671 outstanding shares and theoretical voting rights (1) 60.56% Founders Stellantis Public 1. The theoretical total number of voting rights is calculated based on all of the shares that r
Slide 34: Profit and loss: main KPIs
Profit and loss: main KPIs On a pro forma basis On a reported basis In millions of euros FY 2022 FY 2021 FY 2022 FY 2021 Revenues 1,768.9 1,368.7 1,768.9 1,263.8 Gross profit 175.1 185.3 175.1 173.0 Gross profit per unit 2,142 2,292 2,142 2,307 (in € per B2C vehicle sold) Adjusted EBITDA (10.7) 37.2
Slide 35: Balance sheet
In thousands of euros September 30, 2022 September 30, 2021 Balance Goodwill 44,264 44,146 Other intangible assets 52,759 47,510 Property, plant and equipment 26,080 18,881 sheet Right-of-use assets Other non-current financial assets, including derivatives Deferred tax assets 75,842 1,078 2,636 61,4
Slide 36: 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 37: A ARAMISG
A ARAMISG ROU