D'ieteren Group Sa/nv · EURONEXT:DIE
D'ieteren Group Sa/nv — Investor Day (April 2022)
34 slides from D'ieteren Group Sa/nv's investor day presentation, Apr 28, 2022
Slide 1: Investor Day
D’Ieteren Group Investor Day “Building seamless and sustainable mobility for everyone” April 28th, 2022
Slide 2: Today's Presenters
Today’s Presenters DENIS GORTEMAN REGINALD GILLET Chief Executive Officer Chief Financial Officer Years of service 34 Years of service 2 D’Ieteren Group Investor Day 2
Slide 3: Agenda
Agenda I. Who We Are & What We Do II. Our Market & Positioning III. Our Performance IV. Our Ambition V. Current Trading VI. Key Takeaways D’Ieteren Group Investor Day 3
Slide 4: Ambition & Strategy
Ambition & Strategy D’Ieteren Group General Presentation 4
Slide 5: 6 main activities covering mobility
: 6 main activities covering mobility #1 Retailer in Belgium Focusing on multi- on the Antwerpen- brand aftersales & Mechelen-Brussels used car markets Axis Importer for 11 brands vehicles, parts & accessories Providing a wide range Becoming the most loved of financial services for bike retailer in
Slide 6: Activities span across multiple value chains & markets
Activities span across multiple value chains & markets Contribution to From import... ... To retail net sales (2021) New cars Exclusive Partially owned retail importer of 11 network of these 11 brands 80.7% brands Supported by VDFin (not consolidated in D’Ieteren Automotive) Aftersales Import of spa
Slide 7: Lab Box is the leader for new mobility in Belgium
Lab Box is the leader for new mobility in Belgium Free floating Charging stations And many more… vehicle sharing for electric vehicles #1 Short term vehicle sharing solutions BEV charger installer in Belgium #1 in Belgium (~8,000 vehicles in fleet) with 5,000 units in 2021 1 st European shared mobil
Slide 8: 5 strategic ESG pillars with clear 2025 ambitions
5 strategic ESG pillars with clear 2025 ambitions Building seamless and sustainable mobility solutions • Leading electrification in Belgium • 25% of Key Accounts using alternative mobility products Improving the life of our customers • Above market NPS for both sales and aftersales in official netwo
Slide 9: Strong and experienced leadership team
Strong and experienced leadership team x Years at D’Ieteren x Years of relevant experience DENIS GORTEMAN REGINALD GILLET PIERRE DOUMIT OLIVIER LE FEVERE DIDIER WILLEMS, CEO CFO CHIEF STRATEGY CHIEF BRANDS COO VOLKSWAGEN & TRANSFO. OFFICER & NETWORK OFFICER D’IETEREN FINANCE 34 30+ 2 20+ 2 15+ 22 20
Slide 10: Agenda
Agenda I. Who We Are & What We Do II. Our Market & Positioning III. Our Performance IV. Our Ambition V. Current Trading VI. Key Takeaways D’Ieteren Group Investor Day 10
Slide 11: Polaris Mobility Survey | What our clients told us
Polaris Mobility Survey | What our clients told us 15% of all trips by 12% of all trips by 56% of all trips by 2030 2030 2030 with carsharing A reduction by 2/3 of new vehicle B2B customers are 6% of all trips by sales in the Belgian leading 2030 market by 2030 will be the change to electrification
Slide 12: New car volume will recover despite difficult market
New car volume will recover despite difficult market New passenger car volume, ‘000 registrations 547 550 550 485 431 383 410 435 435 D’Ieteren car volume, ‘000 registrations 128 123 123 122 9 8 8 9 107 8 95 5 2017 2018 2019 2020 2021 2022e 2023e 2024e 2025e COVID Chips Ukraine & chips 114 114 119 1
Slide 13: B2B and electrification will support our market share
B2B and electrification will support our market share 30% BEVs by 60% B2B secured by recent legal 2025 changes in new car sales, vs. 6% in 2021 VW ID.3 (2020) Skoda Enyaq (2021) VW ID.BUZZ (2022) Cupra Born (2021) Audi Q4 e-tron (2021) Porsche Macan BEV (2023) D’Ieteren Group Investor Day 13
Slide 14: We offer a truly multi-channel customer experience
We offer a truly multi-channel customer experience Major shift towards Digital media up to ~50% media spend >90% of customers use online sources early in their customer 2 successful Digital Motorshows incl. first multi-brand journey platform … but ~80% of them 90,000+ leads generated online in 2021
Slide 15: Solid aftersales with growing car parc
Solid aftersales with growing car parc D’Ieteren Brands Car Parc, m passenger cars Loyalty to official network* +1.3% +1.2% 1.27 ~1m mechanical 1.15 1.21 14% 13% 15% ICE (16+yrs) 5-10% repairs 33% 33% 33% ICE (8-15yrs) 20-25% in official dealer network per year 21% 19% ICE (5-7yrs) 45-50% 20% 33% 32
Slide 16: Young segment of used car market is attractive
Young segment of used car market is attractive CAGR CAGR Used cars sales volume, ‘000 passenger cars ‘17-’21 ‘21-’25 690 687 661 657 660 667 655 +0.2% +0.7% 632 645 Not a focus as cheaper cars and 0% 449 442 5+ years old -1.1% -1.8% 498 479 466 449 476 435 434 VAT C2C Target of 30.000 cars 210 221 2
Slide 17: 1 out of 3 customers finances their vehicle via VDFin
1 out of 3 customers finances their vehicle via VDFin Penetration rate of financing contracts % new vehicle registrations1 49.4% 46.7% 38.1% 38.2% 38.7% 37.0% 36.0% 35.0% 33.6% 31.3% 33.4% 31.8% 30.6% 30.4% 27.1% 2017 2018 2019 2020 2021 Retail Total Fleet 1 Excluding Lamborghini, Bentley and Bugatt
Slide 18: Lucien is active in the fast growing (e-)bike market
Lucien is active in the fast growing (e-)bike market CAGR CAGR New bikes sold in Belgium, ‘000 bikes ‘17-’21 ‘21-’25 667 +5.8% +2.3% 608 485 395 316 e-bike +16.2% +5.7% 173 (52%) (59%) 25 stores across Belgium by 2025 (36%) 119 Omnichannel approach (25%) 150 (25%) 159 Performance bike (24%) (non e-b
Slide 19: Agenda
Agenda I. Who We Are & What We Do II. Our Market & Positioning III. Our Performance IV. Our Ambition V. Current Trading VI. Key Takeaways D’Ieteren Group Investor Day 19
Slide 20: Strategic actions taken to support profitable growth
Strategic actions taken to support profitable growth 2022 – 2025 2020 – 2021 2018 – 2019 Acceleration of transformation plan 2014 – 2017 Magellan (5-year strategic plan) Closure of loss-making Market Area D’Ieteren Centers sites Lab Box launch Pole Position Wonder launch Powered by You D’Ieteren Gro
Slide 21: Despite strong headwinds, proven model leads to resilient results
Despite strong headwinds, proven model leads to resilient results Net Sales D’Ieteren, € bn Adjusted EBIT, € m -7.1% +5.0% -5.6% +11.9% 3.6 119 3.4 113 3.3 3.2 3.2 103 95 99 87.9% 80.7% New cars 88.0% 87.8% 86.8% 12.0% 12.2% 12.1% 13.2% 19.3% Other* 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
Slide 22: Agenda
Agenda I. Who We Are & What We Do II. Our Market & Positioning III. Our Performance IV. Our Ambition V. Current Trading VI. Key Takeaways D’Ieteren Group Investor Day 22
Slide 23: Building on historic actions, several growth engines are defined
Building on historic actions, several growth engines are defined 2022 – 2025 2020 – 2021 Continued improvement in core activities 2018 – 2019 Acceleration of transformation plan Electrification & 2014 – 2017 Magellan (5-year expansion of EDI strategic plan) Closure of loss-making Market Area Focus o
Slide 24: D'Ieteren automotive has a strategy to win
D’Ieteren automotive has a strategy to win Market outlook summary D’Ieteren strategy New cars Passenger Car: volume rebound, compounded by price Accelerate electrification of our sales increases driven by electrification (for Import, Retail and EDI), while Commercial Vehicles: resilient volumes incr
Slide 25: Solid new car sales growth both in volume and value
Solid new car sales growth both in volume and value New car net sales, € bn +5% +10% 3.9 -10% 3.2 2.9 3.0 2.8 2.6 2017 2018 2019 2020 2021 2025e COVID Chips New car volume*, k units % weight BEV New car average selling price, € k per car +2% +3% -15% +7% +7% 130 39% +3% 125 122 122 31.6 105 26.7 28.
Slide 26: D'Ieteren Automotive strategic plan financial goals 2025
D’Ieteren Automotive strategic plan financial goals 2025 >10% Net sales New car net sales YoY growth of c.10%, and >20% YoY growth for the other segments CAGR 2021-2025 (spare parts & accessories, used cars, new mobilities, bikes, …) Ambitious sales growth driven by volumes, prices/mix and div
Slide 27: D'Ieteren Automotive value creation levers
D’Ieteren Automotive value creation levers Key drivers EBIT D’Ieteren, € m >200 • >10% CAGR revenue growth supported by both new cars and other activities • Positive mix effect thanks to uptake of other activities (aftersales, new mobility, bikes) 103 • Realise economies of scale in fast growing env
Slide 28: Financial policy
Financial policy 2018-2023: replacement of key IT softwares Specific projects over 2022-2024: New retail outlet in Brussels (€4.8m) and Erps Kwerps Campus (€26.0m) CAPEX Going forward: ~€20m (~0.4% net sales) €325m bank financing (5-year, maturity date: December 2026) • Unsecured & Sustainability-Li
Slide 29: Agenda
Agenda I. Who We Are & What We Do II. Our Market & Positioning III. Our Performance IV. Our Ambition V. Current Trading VI. Key Takeaways D’Ieteren Group Investor Day 29
Slide 30: Q1-22 Solid commercial dynamics
Q1-22 Solid commercial dynamics Order book new cars, ‘000 units Market share new passenger cars, % +44k +10bps 94.0 22.3% 21.6% 21.7% 49.6 38.8 Q1 2020 Q1 2021 Q1 2022 Q1 2020 Q1 2021 Q1 2022 New cars delivered, ‘000 units Net Sales D’Ieteren, € m -14% +6.7% Growth 30.7 28.6 21-22 24.6 969 856 909 8
Slide 31: Agenda
Agenda I. Who We Are & What We Do II. Our Market & Positioning III. Our Performance IV. Our Ambition V. Current Trading VI. Key Takeaways D’Ieteren Group Investor Day 31
Slide 32: Key takeaways
Key takeaways Strong brand recognition and EV ecosystem (vehicles portfolio, EDI, 1 dealers) to further strengthen position as #1 Importer and Retailer of vehicles in Belgium 2 Profitable dealership network thanks to early consolidation into Market Areas 3 Untapped potential in used car market with
Slide 33: Q&A
Q&A “Building seamless and sustainable mobility for everyone” D’Ieteren Group Investor Day 33
Slide 34: Disclaimer
Disclaimer This document contains forward-looking information that involves risks and uncertainties, including statements about D'Ieteren Group’s and its portfolio companies’ financial projections, future performance, plans, objectives, expectations and intentions. Forward-looking statements can be