Aramis Group Sa · EURONEXT:ARAMI
Aramis Group Sa — Investor Day (November 2024)
102 slides from Aramis Group Sa's investor day presentation, Nov 27, 2024
Slide 1: Capital Markets Day
CAPITAL MARKETS DAY November 27, 2024 25 MARS 2022
Slide 2: Agenda
Agenda From 0 to 100,000+ customers per year: The journey to revolutionize car buying continues! From 0 to 100,000+ customers per year: 1 The journey to revolutionize car buying continues! Used cars, one of Europe's most exciting retail markets 2 Used cars, one of Europe's most exciting retail marke
Slide 3: Today's speakers
Today’s speakers Guillaume Paoli Alejandro Garcia Mella Alba Manzanero Aramis Group co-founder Group Head of Supply Chain CMO for Spain, & co-CEO & New Business Group CMO Team Leader In the Group since 2010, In the Group since 2016 previously COO for France Nicolas Chartier Ivan Velasco Philippe de
Slide 4: From 0 to 100,000+ customers per year
4 From 0 to 100,000+ customers per year 1 From 0 to 100,000+ Guillaume Paoli customers per year Aramis Group co-founder & co-CEO The journey to revolutionize car buying continues! The journey to revolutionize Nicolas Chartier car buying continues! Aramis Group co-founder & co-CEO 25 MARS 2022 4
Slide 5: Team driven by a passion for customer satisfaction from day 1
Team driven by a passion for customer satisfaction from day 1 A car is essential, Incumbents deliver Entrepreneurial team not optional a disappointing experience 87% of European households own a personal car Opaque pricing From a team of 2… 84% of European households use their car daily Limited offe
Slide 6: Our purpose and ambition
Our purpose and ambition PURPOSE Provide affordable, sustainable individual mobility to all Europeans AMBITION Be the preferred platform for buying 2 5 Mused A R S cars 2 0 2 in 2 Europe 6
Slide 7: Building the European leader
Building the European leader Aramis Group’s market share(1) evolution % ~5.0% €10B+ revenues ~0.9% 25 MARS 2022 Launch of ~0.1% ~0.2% Aramis 2001 2009 2016 2024 Long term 7 Source: Aramis Group analysis Note: (1) EU27+UK volume market share (X2C < 8 y.o.)
Slide 8: Model to deliver unparalleled customer value
Model to deliver unparalleled customer value 1 2 3 Refurbish them Sell and deliver Buy the best used cars to enhance their value the best customer experience Across B2B & C2B sourcing channels In outstanding industrial-scale Affordable prices, wide range throughout Europe refurbishing centers of ser
Slide 9: Redefining the used car experience in Europe
Redefining the used car experience in Europe 2024 figures 2001 Inception € 2.2 Bn 73 Revenues NPS(1) c. 700k Cumulative B2C sales 2.3% 57 8 Adjusted EBITDA margin E-NPS(2) Industrial-scale refurbishing centers 6 78%/ 22% 26 days Countries Refurbished Operating WCR / pre-registered 25 MARS 2022 c. 2,
Slide 10: Unique model and clear strategy to capitalize on major market opportunities
Unique model and clear strategy to capitalize on major market opportunities Vast market full A huge and fragmented €270B core addressable market, resilient and digitizing of opportunities To be seized A vertically integrated model, supported by a clear Operating System through our unique and powered
Slide 11: 2027: the next step in our journey
2027: the next step in our journey 2025 2027 Double-digit Double-digit Refurbished volumes organic growth organic CAGR growth for 2024-2027 High single-digit Total B2C volumes High single-digit organic CAGR growth organic growth for 2024-2027 Adjusted EBITDA > €65 million c.5% of revenues 25 MARS 20
Slide 12: Used cars: one of Europe's most exciting retail markets
4 2 Used cars Used cars Guillaume Paoli Aramis Group co-founder One of Europe's most exciting retail markets and co-CEO One of Europe's most exciting retail markets 25 MARS 2022 12
Slide 13: Huge market enabling sustainable growth
13 Huge market enabling sustainable growth Huge market enabling sustainable growth 25 MARS 2022 13
Slide 14: European used car market: a €270B opportunity within the €420B total
European used car market < 8 years, a €270B opportunity within the €420B total used car market EU27+UK used car(1) market (2023) €420B / 34 million units €270B €150B includes c. €10B of pre-registered) ARAMIS CORE MARKET Used cars < 8 years Used cars > 8 years 25 MARS 2022 12 million units 22 millio
Slide 15: A sum of sizeable local markets, each with its own specificities
A sum of sizeable local markets, each one with its own specificities EU27+UK used car market volume (below-8-year X2C(1)) Local specificities In million units (FY23) c.12 Aramis Group countries BRAND PREFERENCES 2.7 0.3 0.3 0.5 CAR SPECIFICATIONS 1.1 2.0 CUSTOMER BEHAVIOR 2.2 AND FINANCING PREFERENC
Slide 16: Increasingly digital market, enhancing the customer experience
Increasingly digital market, enhancing the customer experience Cars purchased online (2020 vs. 2023)(1) Willingness to buy the next car online Q: How did you purchase your vehicle? Q: Which of the following purchase methods would you consider % of the panel responding entirely or partially online fo
Slide 17: Ecosystem of diverse players within a very fragmented market
Ecosystem of diverse players within a very fragmented market In each of the key markets, Top 5 players represent(1) 5-15% 25 MARS 2022 Source: Aramis Group analysis 17 (1) B2C volumes
Slide 18: Complex market on which Aramis Group is an end-to-end integrated platform
Complex market on which Aramis Group is an end-to-end integrated platform Sourcing Transactions Intermediation End customer Business OEMs Auction platforms (B2B) B2C players Rental players Independent Classifieds Leasing companies Private end-customer Private C2B / buyers Franchised Aggregators 2 5I
Slide 19: Most customers are still embedded in the traditional buying experience
Most customers are still embedded in the traditional buying experience, creating opportunities for agile players INDEPENDENT OPERATORS (B2C) INDIVIDUALS (C2C) FRANCHISED DEALERS (B2C) Physical-first Digital-first Direct transactions between private Focus on physical sales process, with Physical sale
Slide 20: From 'Carmageddon' to 'New Normal'
13 From ‘Carmageddon’ to ‘New Normal’ From ‘Carmageddon’ to ‘New Normal’ 25 MARS 2022 20
Slide 21: Historically resilient, the used car market faced an unprecedented crisis from 2021
Historically resilient, the used car market faced an unprecedent crisis from 2021 Change in new and used passenger car market volume in France since 2000 100 basis Used cars (all ages) New cars Sovereign debt crisis Covid-19, Ukraine war, 140 semiconductor crisis 130 -9% 120 +4% 110 100 90 -20% 80 -
Slide 22: COVID-19 crisis and Ukraine war triggered a 'Carmageddon'
Combination of COVID-19 crisis and Ukraine war triggered a ‘Carmageddon’ Pre-registered & recent used car availability 1 collapse leading prices to skyrocket 2 Household budgets under massive pressure Drastic reduction in new car Major disruption in new car Interest rates surged from 0% Generalized
Slide 23: The market is normalizing, with prices returning to pre-crisis levels
Following ‘Carmageddon’, the market is normalizing, with prices returning to pre-crisis levels… New car production and sales in EU27+UK Used car prices (all ages) index across Aramis Group’s countries Millions of units Index base of 100 in January 2021 130 Production Sales -18 p.p. No overproduction
Slide 24: New and accelerating trends paving the way for a 'New Normal'
…with new and accelerating trends paving the way for a ‘New Normal’ Electrification Electric vehicles are projected to represent c.45% of the used car market in Aramis Group and regulatory constraints countries(1) by 2035 Price has become a growing concern for Europeans, and is now the leading purch
Slide 25: BEV projected to represent c.45% of the used car market by 2035
BEV are projected to represent c.45% of the used car market in Aramis Group countries by 2035 BEV penetration in the below-8-year UC market in AG countries(1) | 2019 to 2035 % c.45% Historical Projection 4% 0% 25 MARS 2022 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 20
Slide 26: In a nutshell: a thriving market full of opportunities
In a nutshell: a thriving market full of opportunities 1 Huge and resilient, enabling sustainable growth 2 With local specificities, valuing customer knowledge and field expertise 3 With significant potential for digitization, benefiting players ahead of the curve 4 Highly fragmented, creating oppor
Slide 27: Aramis Group, Europe's leading used car platform
4 3 Aramis Group Nicolas Chartier Aramis Group Aramis Group co-founder and co-CEO Europe’s leading used car platform Europe’s leading used car Philippe de Rovira Chief Affiliates Officer at platform Stellantis, Aramis Group Board Member 25 MARS 2022 27
Slide 28: Unique business model, shaped and enhanced over time
13 Unique business model, shaped and enhanced over time Unique business model, shaped and enhanced over time 25 MARS 2022 28
Slide 29: Our blueprint for success at Aramis Group
Our blueprint for success at Aramis Group 1 2 3 Vertical integration Aramis Operating System Aramis Performance Engine through the value chain From sourcing to delivering Fine-tuned over the years, enriched People, Teams cars to the client’s home with our successive acquisitions and Enterprise 25 MA
Slide 30: Our architecture: end-to-end vertical integration
1 Our architecture: end-to-end vertical integration VERTICAL INTEGRATION Optichannel sales Multimodal Sourcing Logistics Refurbishing Services (websites, phone, delivery customer centers) (home, POS) 25 MARS 2022 30
Slide 31: Aramis Operating System
2 Aramis Operating System, our code crafted from years of experience OPERATING SYSTEM Buy Refurbish Sell Buy One Sell One, anticipating In-house refurbishing, with The Pro and Friendly touch customer demand best-in-class lean factories High-end Customer Value ▪ Diversified sourcingoptimizing Flow vs
Slide 32: Introducing Aramis Performance Engine
3 Introducing Aramis Performance Engine to drive unparalleled execution PERFORMANCE ENGINE Enterprise People Teams Inspire a learning culture Customer-centricity as A3 problem-solving methodology the guiding principle ‘Gemba’(1) leadership Practice teamwork Develop a problem-solving and Orient and s
Slide 33: Lean-inspired model recognized outside of Aramis Group
3 Lean-inspired model recognized outside of Aramis Group PERFORMANCE ENGINE 25 MARS 2022 33
Slide 34: Unmatched customer satisfaction
3 Unmatched customer satisfaction PERFORMANCE ENGINE NET PROMOTER SCORE(1) 73 c. 40 25 MARS 2022 Aramis Group 2024 European competitors' average (2) (1) Net Promoter Score (NPS) is a widely used indicator measuring customer satisfaction 34 (2) Aramis desk research
Slide 35: Customer satisfaction through on-the-ground initiatives
3 Customer satisfaction through on-the-ground initiatives PERFORMANCE ENGINE 25 MARS 2022 35
Slide 36: Market-leading margins per unit
3 Market-leading margins per unit PERFORMANCE ENGINE GROSS PROFIT PER UNIT(1) €/unit 2,285 c.1,500 25 MARS 2022 Aramis Group 2024 European listed competitors' average (2) (1) Gross Profit per Unit (GPU) is defined as Gross Profit per B2C car sold 36 (2) Volume-weighted average based on the latest fu
Slide 37: Improving GPU with employee suggestions
3 Improving GPU with employee suggestions PERFORMANCE ENGINE 25 MARS 2022 37
Slide 38: Lowest operating working capital amongst peers in Europe
3 Lowest operating working capital amongst peers in Europe PERFORMANCE ENGINE OPERATING WORKING CAPITAL (1) c.46 Days of revenues 26 (2) Aramis Group 2024 European listed competitors' average (1) Operating working capital defined for Aramis Group as: Inventory (incl. minor adjustments) + Adjusted tr
Slide 39: In a nutshell: a unique model driving best-in-class performance
In a nutshell: a unique model driving best-in-class performance 1 Vertical integration through the value chain 2 Aramis Operating System 3 Aramis Performance Engine FY 2024 NPS 73 GPU €2,285 25 MARS 2022 E-NPS 57 OWC(1) 26 39 (1) Operating working capital in days of revenues
Slide 40: Stellantis and Aramis: partners to unlock the potential of the used car market
13 Stellantis and Aramis: partners to unlock the potential of the used car market Stellantis and Aramis: partners to unlock the potential of the used car market 25 MARS 2022 40
Slide 41: Stellantis: a committed partner for Aramis Group since 2017
Stellantis: a committed partner for Aramis Group since 2017 Aramis Group current shareholding structure Stellantis contribution As at September 30, 2024 As a long-term shareholder 21,62% ▪ Financing of strategic external operations to strengthen Aramis Group's leadership in Europe 82,856,671 As a bu
Slide 42: Used car market: a strategic lever for Stellantis
Used car market: a strategic lever for Stellantis Stellantis' long-term strategic plan emphasizes the development of the used car business To be second to none in value creation for all stakeholders, while unleashing Stellantis’s entrepreneurial AMBITION mindset Increase the autonomy of seven accret
Slide 43: Two complementary digital platforms
Two complementary digital platforms to fully capitalize on this market opportunity Stellantis’ used vehicle label, Multibrand optichannel acting as an aggregator of dealers used car retail platform Global reach through a unique website European reach through owned Geography & for franchised dealers
Slide 44: Q&A
4 QA Q&A 25 MARS 2022 44
Slide 45: Clear strategy
Alejandro Garcia Mella Group Head of Supply Chain 4 & New Business Clear strategy Ivan Velasco Clear strategy Group CTO To strengthen our European leadership and drive profitable growth José Carlos del Valle To strengthen our European CEO for Spain leadership and drive profitable growth 25 MARS 2022
Slide 46: Our North Star guiding us towards our ambition
Our North Star guiding us towards our ambition 2 To delight customers NPS Delivering 6 1 3 sustainable mobility To grow Refurbishing used cars and Refurbished car growth embracing electric vehicles Engaged teams e-NPS Profitably 2 5 MAdjusted A R S 2 0EBITDA 22 5 4 With fast-paced operations Operati
Slide 47: Two strategic pillars to drive us towards our goals
Two strategic pillars to drive us towards our goals First Converge and leverage pillar our European platform Second pillar Raise the bar 25 MARS 2022 47
Slide 48: First pillar: Converge and leverage our European platform
13 First pillar: Converge and leverage our European platform First pillar: Converge and leverage our European platform 25 MARS 2022 48
Slide 49: Two drivers to level up performance and scale
Two drivers to level up performance and scale 1. Converge on our Operating System 2. Leverage our European platform 25 MARS 2022 49
Slide 50: Two drivers to level up performance and scale
Two drivers to level up performance and scale 1. Converge on our Operating System 2. Leverage our European platform 25 MARS 2022 50
Slide 51: Extending our competitive advantages by converging our Operating System
1 Extending our competitive advantages across the Group by converging our CONVERGE Operating System Buying Refurbishing Selling Streamlined logistics Competitive, diverse sourcing network Cutting-edge refurbishing process Down to same-day delivery to Multiple B2B channels, C2B Maximizing quality and
Slide 52: Expanding our car offering by optimizing sourcing channels
1 Expanding our car offering by optimizing and levelling up sourcing channels CONVERGE and practices Highest improvement Channel Best-in-class potential C2B Imports Auction platforms B2B Leasers External marketplace 25 MARS 2022 52
Slide 53: Case study: extending our partnership with Sixt
1 Case study: extending our partnership with Sixt CONVERGE ▪ Willingness to move closer to end-customers to maximize margins on non-buyback vehicles for open market sales Challenges ▪ Reduce share of volumes remarketed through highly intermediated channels (auctions and professional platforms) A win
Slide 54: Converging to create operational efficiency across centers
1 Converging to create operational efficiency across centers, optimizing CONVERGE refurbishing quality and lead-times 10 years of industrial-scale used car refurbishing experience since the launch of our pioneer center in Donzère in the South of France 8 in-house 2 5refurbishing M A R S centers 2022
Slide 55: Case study: transfer of refurbishing know-how to Brumbrum
1 Case study: transfer of the Group’s refurbishing know-how to Brumbrum CONVERGE Brumbrum refurbishing center’s lead-time acceleration Average number of workdays needed to refurbish a car 18 16 12 13 11 10 9 9 8 8 8 8 7 7 7 6 Jul-23 Mar-24 Jul-24 Oct-23 Nov-23 Dec-23 Feb-24 Apr-24 Jun-23 Aug-23 Sep-
Slide 56: Enhancing the service offering by sharing expertise
1 Enhancing the service offering by better sharing expertise and capturing more CONVERGE value ² Offered by Service Description Loan Financing Leasing Balloon loan Credit insurance GAP insurance Insurance Warranty extension Driver insurance 25 MARS 2022 Maintenance Other Accessories 56
Slide 57: Additional potential by closing penetration gaps
1 Additional potential by progressively closing penetration gaps CONVERGE across all markets Case study - Financing solution penetration rate across Aramis Group countries FY 2024 7 out of 10 Europeans finance their cars 66% 44% 40% 35% 25% 16% 25 MARS 2022 57 57
Slide 58: Rapid growth in financing penetration in Italy
1 Case study: rapid growth in financing solutions penetration in Italy by CONVERGE leveraging Group know-how Evolution of financing solutions penetration rate at Brumbrum (FY24, as % of deliveries) 35% 26% 19% 17% 25 MARS 2022 Q1 2024 Q2 2024 Q3 2024 Q4 2024 58
Slide 59: Two drivers to level up performance and scale
Two drivers to level up performance and scale 1. Converge on our operating system 2. Leverage our European platform 25 MARS 2022 59
Slide 60: Unique internal marketplace to offer more quality cars
2 Unique internal marketplace to offer more quality cars to customers and further LEVERAGE streamline inventory rotation Internal inventory sharing flows, Expanded selection of quality cars for customers enabled by our internal marketplace across Europe Active flows Work-in-progress flows Increasing
Slide 61: Selective and opportunistic M&A
2 Selective and opportunistic M&A LEVERAGE M&A rationale for Aramis Group Key acquisition criteria Revenue growth(1) (FY 24 vs. last FY before acquisition) Gain access to new markets Customer-centric approach x1.6 x1.7 Boost revenues and overall Great people & profitability cultural compatibility x1
Slide 62: Replicable integration playbook for value-creative M&A
2 Replicable integration playbook to ensure value-creative M&A LEVERAGE 0-12 months 12-18 months 18+ months Set the fundamentals Set the environment Converge ▪ Ensure business ▪ Enhance talent ▪ Optimize margins continuity and share management and SG&A key indicators ▪ Enhance inventory ▪ Participat
Slide 63: Opportunity to consolidate with selective M&A in new markets
2 Opportunity to consolidate with selective disciplined M&A in new markets LEVERAGE Share of X2C (all ages) market by country – EU27 + UK (FY24) % of total EU27+UK market volume 15% 100% 5% 2% 1% 7% 17% 54% 25 MARS 2022 Aramis Group Other Total EU27+UK countries 63 Source: Aramis Group
Slide 64: Second pillar: Raise the bar
13 Second pillar: Raise the bar Second pillar: Raise the bar 25 MARS 2022 64
Slide 65: Two drivers to further elevate our business
Two drivers to further elevate our business: empowering our customers and our teams 1. Further improve our customers’ 2. Further empower and enable our experience teams with tech and data 25 MARS 2022 65
Slide 66: Two drivers to further elevate our business
Two drivers to further elevate our business: empowering our customers and our teams 1. Further improve our customers’ 2. Further empower and enable our experience teams with tech and data 25 MARS 2022 66
Slide 67: Always closer to customers by expanding optichannel experience
1 Always closer to customers by expanding our optichannel experience CUSTOMERS Customer center’s purpose Zaragoza (Spain) customer center Customer order support when needed (local foothold, proximity) Car appraisal for trade-ins and cash purchases (cars deposited by sellers at a customer center) Del
Slide 68: Case study: optichannel rollout in Spain
1 Case study: high value demonstrated by the rollout of the optichannel approach CUSTOMERS in Spain ARAMIS GROUP’S REGIONAL MARKET SHARE IN SPAIN FOR USED CARS (UNDER 8 YEARS) Q4 2023 Q4 2024 Zaragoza Opened in October 2023 Valencia Madrid Madrid Opened in February 2024 Villaverde Villaverde Alicant
Slide 69: Potential for strategic expansion of customer centers
1 Potential for strategic expansion of customer centers CUSTOMERS across all our countries 68 customer centers at year-end 2024 25 MARS 2022 69
Slide 70: Improving customer experience through simplified financing
1 Improving our customer experience through a simplified financing process CUSTOMERS Before Open banking Now Deceptive customer experience Seamless customer experience Risks for seller and lender Lower fraud risk 50 fields on application forms, covering: Streamlined process ▪ Vehicle details, borrow
Slide 71: Ensure customers understand our unique value proposition
1 Ensure customers fully understand our unique value proposition CUSTOMERS Uneven marketing practices ▪ Each country within Aramis Group conveys our unique value proposition differently across the Group ▪ Marketing efforts show unequal cost efficiency across countries Aramis Group’s brand awareness(
Slide 72: Opportunity to embrace a distinctive positioning
1 Opportunity to embrace a distinctive positioning and underscore the exclusivity CUSTOMERS of our value proposition Aramis Group’s current baseline per country Saturated messages in the market Cardoen, the car supermarket 73% of traditional incumbent players use similar messages: ▪ Broad selection
Slide 73: Develop the most attractive automotive retail brand in Europe
1 Develop the most attractive automotive retail brand in Europe, CUSTOMERS building a common brand platform DRIVE THE REFURBISHED WAY REASONS TO BELIEVE FIELD STUDIES REVEALING EXCELLENT ACCEPTANCE IN ALL OUR COUNTRIES Cheaper than new, much ▪ Europe’s No. 1 car refurbisher and more reliable than us
Slide 74: Bold, unified, new common Group identity
1 Bold, unified, new common Group identity to drive our mission forward CUSTOMERS Today Tomorrow 25 MARS 2022 74
Slide 75: Two drivers to further elevate our business
Two drivers to further elevate our business: empowering our customers and our teams 1. Further improve our customers’ 2. Further empower and enable our experience teams with tech and data 25 MARS 2022 75
Slide 76: Improve our model through technology and data platform
2 Further improve our model and empower our teams through the development TEAMS of our technology and data platform 4 OBJECTIVES A EUROPEAN TECH HUB 2 MAIN TECH PRODUCTS Raising the bar on customer Unified e-commerce experience Best-in-class tech platform Driving team productivity Optimizing Enhanci
Slide 77: Case study: improved Group C2B purchasing platform
2 Case study: enhancing value with an improved Group C2B purchasing platform TEAMS DEVELOPING A NEXT-GENERATION UNIFIED SOURCING VARIABLE METAL MARGINS ON C2B SOURCED CARS PLATFORM FOR THE GROUP Distribution of GPU 'metal' margins generated from C2B-sourced cars 10% in France in 2024 Proprietary and
Slide 78: Case study: the AI Sales Assistant
2 Case study: unleashing the power of AI in sales – The AI Sales Assistant TEAMS 1 Generate summaries of customer needs by consolidating interactions (calls, emails, chats) 2 Provide tips to sales team to expedite deal closures 3 Create automated voice 2 5 transcriptions M A R S 2 0 2from phone call
Slide 79: Case study: AI-powered WhatsApp agent for C2B leads
2 Case study: boosting C2B lead conversions with a customized AI-powered TEAMS WhatsApp agent Over the past quarter 3,044 conversations initiated 658 inspections conducted 25 MARS 2022 176 additional cars sourced C2B 79
Slide 80: In a nutshell: two pillars to propel our business
In a nutshell: two pillars to propel our business to new heights 1 Converge and leverage our European platform ▪ Converge on our Operating System ▪ Leverage our European scale 2 Raise the bar ▪ Further improve our customers’ experience ▪ Further empower and enable our teams with tech and data 25 MAR
Slide 81: Financial ambition
5 Financial ambition Financial ambition Fabien Geerolf Group CFO 25 MARS 2022 81
Slide 82: Delivering sustainable growth
Delivering sustainable growth High customer Profitable Cash-generative satisfaction 25 MARS 2022 SUSTAINABLE GROWTH 82
Slide 83: Driving growth with double-digit CAGR on refurbished cars
Driving growth with double-digit CAGR on refurbished cars Proven track record for organic(1) growth Aramis Group market shares (X2C < 8 y.o.) B2C volumes sold (in thousands of units) +7% organic CAGR 112 0.88% 80 0.74% +14% organic CAGR 88 0.61% 0.51% 50 30 24 25 MARS 2022 FY 2021 FY 2024 FY 2021 (2
Slide 84: High-impact levers driving organic growth
High-impact levers driving this organic growth Buying Refurbishing Selling On pre-registered, supply can be Available refurbishing capacity with Expand geographic reach by opening constrained by the availability of these current centers new customer centers cars on the market ▪ ▪ ▪ On refurbished ca
Slide 85: Levelling up to 5% adjusted EBITDA within the Group
Levelling up to 5% adjusted EBITDA within the Group Profitability level already achieved in France Adjusted EBITDA margin improvement bridge As % of revenues H2 2024 ADJUSTED EBITDA (% of revenues) c.1.1% Best- c.1.6% Average in-class 5.0% 2.3% 3.0% 5.0%(1) 25 MARS 2022 Adjusted EBITDA margin GPU SG
Slide 86: GPU improving through optimized operations and enhanced services
GPU improving through optimized operations and enhanced services Buying Refurbishing H2 2024 GPU (€/B2C car sold) Enhance car selection and pricing accuracy Reduce refurbishing costs ▪ ▪ Implied in Best- 5% ▪ ▪ Average in-class EBITDA level ▪ Implies ▪ ▪ Selling € 2,412 € 3,098 c. € 2,600 25 MARS 20
Slide 87: SG&A to be optimized through efficiencies and scale
SG&A to be optimized through operational efficiencies and scale H2 2024 SG&A(1) Efficiencies Economies of scale (€/B2C car sold) Optimize labor productivity Absorb fixed costs Implied in ▪ ▪ ▪ Best- 5% ▪ Average in-class EBITDA level ▪ Optimize COCA ▪ ▪ ▪ € 1,810 €1,512(2) c. € 1,600 25 MARS 2022 87
Slide 88: Structurally cash-generative business
Structurally cash-generative business Best-in-class Asset-light model operating working capital 26 days of revenues 0.6% of revenues in FY 2024 in FY 2024 25 MARS 2022 88
Slide 89: Continuously improving operating working capital
Continuously improving operating working capital History of consolidated operating working capital Operating working capital per country (# days of last 12-month revenues) (# days of last 12-month revenues) 34 Average Best- 31 31 in-class 26 2021 2022 2023 2024 25 MARS 2022 26 c. 20 ▪ Optimize comme
Slide 90: Asset-light model requiring limited investments
Asset-light model requiring limited investments Tech and data platform Refurbishing centers Customer centers c. €1.5 million c. €0.1 million €9 million per new per new in 2024 25 MARS 2022 refurbishing center customer center 90
Slide 91: In a nutshell: sustainable growth trajectory
In a nutshell: a sustainable growth trajectory enabling attractive profits and cash generation 1 Solid growth fundamentals 2 Clear roadmap to reach 5% consolidated EBITDA by 2027 3 Structurally cash-generative business 25 MARS 2022 91
Slide 92: Summary of guidance
Summary of guidance 2025 2027 Double-digit Double-digit Refurbished volumes organic growth organic CAGR growth for 2024-2027 High single-digit Total B2C volumes High single-digit organic CAGR growth organic growth for 2024-2027 Adjusted EBITDA > €65 million c.5% of revenues 25 MARS 2022 Operating wo
Slide 93: Conclusions
4 6 Conclusions Conclusions Nicolas Chartier Aramis Group co-founder and co-CEO 25 MARS 2022 93
Slide 94: Aramis Group, a unique investment opportunity
Aramis Group, a unique investment opportunity 1 Bold, entrepreneurial vision, drive and team 2 Vast, resilient and fragmented market offering boundless growth potential 3 Future-proof value proposition that customers love Unique business model, Operating System and Performance Engine 4 enabling prof
Slide 95: Q&A
4 QA Q&A 25 MARS 2022 95
Slide 96: Appendices
4 Appendices Appendices 25 MARS 2022 96
Slide 97: Financial calendar
Financial calendar January 28, 2025 (after market) February 4, 2025 May 19, 2025 (after market) Q1 2025 revenues Annual General Meeting H1 2025 results July 24, 2025 (after market) November 25, 2025 (after market) Q3 2025 revenues FY 2025 results 25 MARS 2022 97
Slide 98: Continuous, sustained growth from day one
Continuous, sustained growth from day one Aramis Group revenue history in millions of euros 2,240 1,945 1,769 1,369 1,094 704 651 436 327 357 312 364 269 175 181 35 38 62 86 116 25 MARS 2 022 22 2009 2016 2023 2004 2005 2006 2007 2008 2010 2011 2012 2013 2014 2015 2017 2018 2019 2020 2021 2022 2024
Slide 99: >30% EBITDA to cash conversion
>30% EBITDA to cash conversion Bridge for theoretical cash flow generation(1) -0.8% -0.3% 5.0% -1.0% -0.7% -0.6% 1.6% 25 MARS 2022 5% adjusted EBITDA Rents (total IFRS 16) Cost of net financial debt Taxes Change in working capital Capex FCF margin on current revenues 99 (1) Assuming 10% volume growt
Slide 100: Governance bodies combining operational excellence with sustainability
Governance bodies that combine operational excellence with a sustainable development approach Board of Directors composition Specialized committees Céline Vuillequez Board of Directors Patrick Bataillard Delphine Mousseau Independent director Independent director Independent director Head of CSR com
Slide 101: Shareholding structure with deep car market expertise
Shareholding structure with deep car market expertise and insights As at September 30, 2024 17,84% 12,85% 19,68% 21,62% 82,856,671 148,688,827 60,54% outstanding 67,47% theoretical shares voting rights(1) 25 MARS 2022 Founders Stellantis Public 101 (1) The theoretical total number of voting rights i
Slide 102: 25 MARS 2022
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