Auto Partner Sa · GPW:APR
Auto Partner Sa — Q3 2020 Earnings Presentation
23 slides from Auto Partner Sa's earnings presentation, Nov 24, 2020
Slide 1: Q1-Q3 2020 results
Q1-Q3 2020 results November 24th 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. Summary 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 Q3 2020
Key developments in Q3 2020 ▪ Business continuity maintained despite the pandemic ▪ Prices raised in April 2020 maintained at higher levels in response to rising exchange rates (USD, EUR) ▪ Continued foreign expansion, double-digit sales growth ▪ Further improvement in profitability ▪ Strengthening
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, subject to Covid-19 spread prevention measures ▪ Total warehousing space at the Group (held under leases) – over 100,000 square metres: ❑
Slide 9: 2. Market environment
2. Market environment AUTOPARTNER - ‘- » >. >
Slide 10: Market environment – Part 1
Market environment – Part 1 POLAND EUROPE ▪ Approximately 18.5m passenger cars and light commercial ▪ Approximately 271m passenger cars in Europe vehicles (<3.5t) in Poland (according to ACEA) ▪ Average vehicle age: 15.3 years, vehicles imported in Oct ▪ Average vehicle age: 10.8 years (according to
Slide 11: Market environment – Part 2
Market environment – Part 2 July − September 2020: ▪ Customer mobility, upbeat consumer sentiment ▪ Free cross-border freight traffic ▪ At end of September, new vehicle sales fell cumulatively -25.97% y/y (-133,639) (IBRM SAMAR data) ▪ EUR/PLN exchange rate broadly unchanged, falling USD/PLN exchang
Slide 12: 3. Financial performance
3. Financial performance AUTOPARTNER - ‘- » >. >
Slide 13: Q1-Q3 2020 highlights
Q1-Q3 2020 highlights REVENUE EBITDA EBIT NET PROFIT 1.2 126.1 108.7 81.9 billion million million million +11% +64% +73% +84% www.auto-partner.pl 13
Slide 14: Q3 2020 sales
Q3 2020 sales Q3 sales y/y [PLNm] Sales by geographies [PLNm] 500 469.5 1400 1,237.3 391.5 1200 1,111.1 400 1000 519.3 300 425.0 800 200 600 400 100 686.1 718.0 200 0 0 Q3 2019 Q3 2020 Q1–Q3 2019 Q1–Q3 2020 ▪ Return to strong double-digit quarterly revenue growth (+20% ▪ 11% growth in sales after Q1
Slide 15: Quarterly sales
Quarterly sales Quarterly sales [PLNm] 500 450 469.5 400 392.9 391.5 396.7 350 368.3 371.1 300 326.7 303.4 303.7 294.0 250 253.9 200 150 100 50 0 1Q 2018 2Q 2018 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 ❑ Sales supported by the well-developed distribution network (bran
Slide 16: Profitability
Profitability Q1−Q3 2020 profit figures [PLNm] +22% 400 349.2 350 300 285.1 250 200 1-3Q 2019 +64% +73% 150 126.1 +84% 1-3Q 2020 108.7 100 76.7 81.9 62.8 44.6 50 0 Zysk brutto ze EBITDA EBIT Zysk netto sprzedaży ▪ Strong, double-digit growth across all profit levels ▪ Record high net profit posted b
Slide 17: Gross profit
Gross profit 30.3 27.7 28.1 26.5 26.8 27.0 26.6 26.2 26.0 26.0 Margin % 24.5 140 131.8 120 120.1 100 101.9 101.8 96.3 97.3 80 86.9 PLNm 78.8 81.5 79.4 60 67.4 40 20 0 1Q 2018 2Q 2018 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 ▪ Gross profit margin markedly higher ▪ Posit
Slide 18: Profit margins
Profit margins 30.3 28.1 Rentowność brutto na sprzedaży (%) 26.6 27.7 Rentowność EBITDA (%) 26.0 26.2 24.5 Rentowność EBIT (%) 12.2 11.3 Rentowność netto (%) 7.8 10.8 10.0 6.9 7.4 6.1 6.6 6.8 4.9 5.7 5.7 5.1 8.2 7.8 4.7 3.4 4.0 3.8 3.4 1Q 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 www.auto
Slide 19: Cash flow
Cash flow Cash flow [PLNm] 150 119.1 100 50 19.5 Przepływy operacyjne 0 Przepływy inwestycyjne -8.1 -1.0 -7.5 -1.5 Przepływy finansowe -12.4 -50 Całkowite przepływy -100 -113.1 -150 1-3Q 2019 1-3Q 2020 ▪ The Group’s liquidity position remained stable ▪ Significant decrease in liabilities under borro
Slide 20: Stable stock levels
Stable stock levels Stocks* [PLNm] 500 503.2 468.1 469.6 478.8 439.8 447.3 448.2 448.2 400 391.2 403.0 382.8 300 200 100 0 1Q 2018 2Q 2018 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 ▪ Inventory turnover as at Sep 30 2020: 150 days, vs 147 days the year before ▪ Stable st
Slide 21: 4. Summary
4. Summary AUTOPARTNER —_—> >
Slide 22: Summary
Summary → Record high net profit posted at end of Q3 2020 → Cost-saving policy continued → Product prices kept at new levels → Major y/y improvement in profitability → Supportive market environment despite the pandemic www.auto-partner.pl 22
Slide 23: THANK YOU!
THANK YOU! ul. Ekonomiczna 20 43–150 Bieruń www.auto-partner.pl