Auto Partner Sa · GPW:APR
Auto Partner Sa — H1 2022 Earnings Presentation
24 slides from Auto Partner Sa's earnings presentation, Sep 15, 2022
Slide 1: Financial Results Auto Partner Group H1 2022
FINANCIAL RESULTS AUTO PARTNER GROUP H1 2022 September 15th 2022
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 Auto Partner Group 2. Market environment 3. Financial results 4. Summary www.autopartner.com 3
Slide 4: About Auto Partner Group
01. About Auto Partner Group www.autopartner.com 4
Slide 5: Management Board of the Group
Management Board of the Group Aleksander Górecki Andrzej Manowski Piotr Janta President of the Management Vice President of the Vice President of the Board/Founder Management Board Management Board Involved in the automotive industry since With Auto Partner since 1994, serving Joined Auto Partner in
Slide 6: Auto Partner Group at a glance
Auto Partner Group at a glance Nearly 10% share in domestic Approximately 250,000 Sales in more than market of spare parts references available 30 countries 15.5m parts warehoused About 62% of orders placed Member of throughout Poland online GlobalOne GPO www.autopartner.com 6
Slide 7: Key developments in H1 2022
Key developments in H1 2022 Sales up by 27% to nearly PLN 1,350bn Continued foreign expansion – exports accounting for 50% of revenue , for the second time in the Group’s history (after the first quarter of 2022) foreign sales exceeded domestic sales Strong profitability maintained, with steep growt
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: New Auto Partner branches opened in H1 2022
New Auto Partner branches opened in H1 2022 NEW AP BRANCHES GRUDZIĄDZ OTWOCK JAROSŁAW SZCZECINEK TYCHY BOLESŁAWIEC MYŚLENICE 7 new branch offices in the first half of 2022 Current network: 113 branch offices* throughout Poland • as at June 30th 2022 www.autopartner.com 9
Slide 10: Well-developed foreign sales network
Well-developed foreign sales network Albania Austria Portugal Belgium Russia Belarus Romania Bosnia and Serbia Herzegovina Slovakia Croatia Slovenia Montenegro Ukraine Czech Republic Hungary Denmark United Kingdom Estonia Italy Finland France Spain Netherlands Ireland Lithuania Luxembourg Latvia Sal
Slide 11: Market environment
02. Market environment www.autopartner.com 11
Slide 12: Market environment
Market environment POLAND EUROPA (European Union) • In the first half of 2022, the number of registrations fell by • 560 cars per 1,000 inhabitants of the European Union 12.3% year on year in the case of new passenger cars and (according to ACEA); by 18.3% in the case of light commercial vehicles (K
Slide 13: Financial results
03. Financial results www.autopartner.com 13
Slide 14: Record-breaking performance figures for H1 2022
Record-breaking performance figures for H1 2022 REVENUE EBITDA EBIT NET PROFIT 1,347.0 151.9 136.5 102.8 PLNm PLNm PLNm PLNm +27% +16% +16% +10% www.autopartner.com 14
Slide 15: H1 2022 sales at all-time record level
H1 2022 sales at all-time record level H1 2022 sales [PLNm] Sales by geographies [PLNm] 1,346.5 1,063.0 482.0 45% 676.3 50% H1 2021 H1 2022 50% 55% 670.2 581.0 H1 2021 H1 2022 Domestic sales Export sales • revenue up 26.7% y/y • Strong growth in export sales: up 40.3% y/y • Growing share of foreign
Slide 16: Strong quarterly sales growth
Strong quarterly sales growth Quarterly sales [PLNm] 706,9 639,6 587,2 611,6 587,5 469,5 475,7 433,1 392,9 391,5 368,3 371,1 396,7 303,4 303,7 326,7 294 253,9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 2021 2022 • Strong two-digit growth in sales (+20% y/y) continued on the
Slide 17: Significant growth in profits and earnings
Significant growth in profits and earnings Gross profit EBITDA EBIT Net profit [PLNm] [PLNm] [PLNm] [PLNm] 403,4 303,7 +33% 151,9 130,5 136,5 118 +16% 93,4 102,8 +16% +10% H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 • Double-digit growth across all P&L levels • Pandemic-related s
Slide 18: Gross profit
Gross profit Profit margin 30,3 30,7 30,3 [%] 29,5 29,3 29,6 28.1 28,4 27,7 27,6 26,5 26,8 27.0 26,6 26.0 26.0 26,2 24,5 214,3 189,2 172,3 173,6 180,3 131,8 127,7 131,4 120,1 86,9 96,3 101,9 101,8 97,3 78,8 81,5 79,4 67,4 PLNm Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 2021
Slide 19: Profit margin
Profit margin 30,2 29,3 30,7 30,3 27,7 28.1 32 27,6 28,4 26,6 26 26,2 29,6 24,5 Net profit margin (%) EBIT margin (%) 12,2 12,9 11,9 11,3 11 11,5 11,6 10,5 11 EBITDA margin (%) Gross margin (%) 7,8 10,8 10,2 11,8 9,4 10,4 9,9 6,9 7,4 6,6 10 9,6 10,8 6,1 9,5 7,4 6,8 7,8 8,3 7,1 7,9 5,7 5,1 8,2 7,9 4,
Slide 20: Cash flow
Cash flow Cash flow [PLNm] Operating cash flows Investing cash flows Financing cash flows 96.2 Total cash flows 17.0 11.2 26.1 0.5 -6.3 -21.1 -49.0 H1 2021 H1 2022 • Stable liquidity position of the Group www.autopartner.com 20
Slide 21: Stable stock levels
Stable stock levels Stocks* [PLNm] 839,8 827,6 749,4 656,1 608,7 603,2 478,8 503,2 491,7 439,8 447,3 448,2 448,2 468,1 469,6 382,8 391,2 403 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 2021 2022 • Inventory turnover as at June 30th 2022: 151 days vs 131 days the year before
Slide 22: Summary
04. Summary www.autopartner.com 22
Slide 23: Summary
Summary Record high sales and financial results Steep growth in export sales – export sales exceeded domestic sales Solid margins maintained Low debt maintained (net debt/ EBITDA= 1.1x) Good prospects for the parts distribution market despite volatile market conditions www.autopartner.com
Slide 24: Thank you!
THANK YOU! ul. Ekonomiczna 20 43–150 Bieruń, Poland www.autopartner.com