Auto Partner Sa · GPW:APR
Auto Partner Sa — Q1 2021 Earnings Presentation
23 slides from Auto Partner Sa's earnings presentation, May 18, 2021
Slide 1: Q1 2021 results
AUTOPARTNER Q1 2021 results May 18th 2021
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 results 4. Summary www.autopartner.com 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.autopartner.com 5
Slide 6: Auto Partner Group at a glance
Auto Partner Group at a glance ca. 9-10% share in the Polish market of spare parts distribution ca. 250,000 references available 15.5m parts stored in warehouses throughout Poland Over 350 global suppliers 28 markets 62% online orders GlobalOne international GPO membership www.autopartner.com 6
Slide 7: Key developments in 2021
Key developments in 2021 ▪ Further strengthening of foreign expansion (+39% y/y, 28 countries) ▪ Prices raised in 2020 maintained at higher levels in response to rising exchange rates (USD, EUR) ▪ Maintaining high margins across all profit levels ▪ Strengthening of the existing distribution network
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 sq m: ❑ Distribut
Slide 9: Well-developed distribution network
Well-developed distribution network www.autopartner.com 9
Slide 10: 2. Market environment
2. Market environment AUTOPARTNER - ‘- » >. >
Slide 11: Market environment – Q1 2021
Market environment – Q1 2021 POLAND EUROPE ▪ Number of cars in Poland: ca. 19 million (Central ▪ Approximately 280m passenger cars in Europe Register of Vehicles and Drivers (CEPiK) data) (according to ACEA) ▪ Number of imported car registrations: 227,534 (up ▪ Registrations of new passenger cars up
Slide 12: 3. Financial results
3. Financial results AUTOPARTNER >. = >
Slide 13: Q1 2021 highlights
Q1 2021 highlights REVENUE EBITDA EBIT NET PROFIT 475.7 54.7 48.6 37.8 PLNm PLNm PLNm PLNm +28% +122% +156% +198% www.autopartner.com 13
Slide 14: Q1 2021 sales
Q1 2021 sales Q1 2020 sales [PLNm] Q1 2021 sales [PLNm] by geographies 500 475.7 500 475.7 450 400 371.1 400 371.1 350 214.0 300 300 153.5 250 200 200 150 261.7 100 100 271.6 50 0 0 Q1 2020 Q1 2021 Q1 2020 Q1 2021 ▪ +28% y/y increase in revenue ▪ Sales in Poland up +20% y/y ▪ Export sales up +39% y/
Slide 15: Quarterly sales
Quarterly sales Quarterly sales [PLNm] 500 469.5 475.7 450 433.1 392.9 391.5 396.7 400 368.3 371.1 350 326.7 303.4 303.7 294.0 300 253.9 250 200 150 100 50 0 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 ❑ Continued strong, double-digit growt
Slide 16: Significant growth in profits and earnings
Significant growth in profits and earnings Q1 2021 profit figures [PLNm] +35% 140 131.4 120 97.3 100 80 +122% +156% +197% Q1 2020 60 54.7 48.6 Q1 2021 37.8 40 24.7 19.0 20 12.7 0 Gross profit EBITDA EBIT Net profit ▪ Strong growth across all profit levels ▪ Strict control of operating expenses and l
Slide 17: Gross profit
Gross profit 30.3 29.5 27.7 28.1 27.6 26.5 26.8 27 26.6 26 26 26.2 Margin (%) 24.5 140 131,8 127,7 131,4 120,1 120 101,9 101,8 96,3 97,3 100 86,9 78,8 81,5 79,4 80 67,4 PLNm 60 40 20 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 ▪ Strong gr
Slide 18: Profit margins
Profit margins 32.0 30.2 27.7 28.1 27.6 26.6 26 26.2 24.5 Net profit margin (%) EBIT margin (%) EBITDA margin (%) 12.2 11.5 Gross margin (%) 10.8 11.3 11 10 9.6 10.2 7.8 8.2 7.8 7.9 6.8 6.9 7.4 6.1 6.6 6.7 5.7 5.7 5.1 4.7 4.9 3.4 4.0 3.8 3.4 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4
Slide 19: Cash flow
Cash flow Cash flow [PLNm] 150 100 50 37.7 Operating cash flows 18.3 2.5 5.3 Investing cash flows 0 -1.2 -5.5 Financing cash flows -7.4 -50 Total cash flows -34.0 -100 -150 Q1 2020 Q1 2021 ▪ Stable liquidity position of the Group ▪ Lower interest expense (down 42% y/y) www.autopartner.com 19
Slide 20: Stable stock levels
Stable stock levels Stocks* [PLNm] 700 600 608.7 500 503.2 491.7 468.1 469.6 478.8 400 439.8 447.3 448.2 448.2 391.2 403 382.8 300 200 100 0 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 ▪ Inventory turnover as at March 31st 2021: 144 days vs
Slide 21: 4. Summary
4. Summary AUTOPARTNER —_—> >
Slide 22: Summary
Summary → Continued strong sales growth → Maintained cost discipline → Continuation of the pricing policy aimed at maintaining a higher gross margin → Maintaining low debt levels → Good medium- and long-term prospects for the car parts distribution market www.autopartner.com 22
Slide 23: THANK YOU!
THANK YOU! ul. Ekonomiczna 20 43–150 Bieruń www.auto-partner.pl