Slide 1: Full-Year Results
Full-Year Results 3 For the year ended 29 March 2015 19th June 2015
Slide 2: Disclaimer
Disclaimer 2 Disclaimer By attending the meeting where this presentation is made, or by reading this document, you agree to be bound by the limitations set out below. This presentation is being communicated only to and is only directed at those persons in the United Kingdom that are (i) investment p
Slide 3: Highlights
Overview 3 Highlights Revenue: up 8% to £255.9 million (2014: £237.7 million) Retailer revenue: up 9% to £202.1 million (2014: £186.0 million) Customers: retailer forecourts up 2.5% to 13,452 (2014: 13,129) ARPR: up 6% to £1,252 pcm (2014: £1,181) Profit: Adjusted underlying EBITDA up 15% to £156.6
Slide 4: Revenue
Financial Statements – March Year End 4 Revenue Number of Retailer Forecourts (1) Revenue (£m) Year ended March 2015 is shown as 2015 . YoY% (0.6%) 1.6% 2.5% 5% 9% 8% YoY Growth 19% 0% Average Revenue Per Retailer (ARPR) (£) (1) YoY% 9.2% 8.5% 6.0% 8% Retailer Revenue (£m) YoY% 8.6% 10.3% 8.6% Trade
Slide 5: Costs
Financial Statements – March Year End 5 Costs FTEs & Contractors (Average) Costs(1)(£m) Year ended March 2015 is shown as 2015 . YoY% (7%) (12%) 1,104 1,045 47 915 66 YoY 17 4% 3% (2%) 1,057 979 Growth 898 2013 2014 2015 Marketing % of Revenue 4% 1% (7%) Continuing Capital Expenditure (£m) 4.9 10.6
Slide 6: Adjusted Underlying EBITDA
Financial Statements – March Year End 6 Adjusted Underlying EBITDA AUEBITDA 55% 57% Margin % 61% YoY 13% 15% Growth 5% 156.6 136.1 (£m) 120.7 Year ended March 2015 is shown as 2015 . Adjusted underlying EBITDA represents operating profit before depreciation, amortisation, impairment charges, excepti
Slide 7: Income Statement
Financial Statements – March Year End 7 Income Statement Year ended Year ended 29 March 2015 30 March 2014 £m £m Revenue 255.9 237.7 Administrative expenses (122.8) (139.0) Operating profit before share based payments, management incentive plans, exceptional items and impairment charges 144.1 126.2
Slide 8: Net External Debt
Financial Statements – March Year End 8 Net External Debt Leverage 7.2x 3.4x 3.4x (£m) 978 (136) 73 5 (460) 15 39 14 528 8 3 539
Slide 9: Balance Sheet
Financial Statements – March Year End 9 Balance Sheet As at As at As at As at 29 March 2015 30 March 2014 29 March 2015 30 March 2014 £m £m £m £m ASSETS BORROWINGS Intangible Assets 330.0 338.4 Junior Debt - 358.4 Property, plant & equipment 8.5 4.3 Senior Debt - 632.0 Deferred tax assets 4.6 4.8 Se
Slide 10: Key Drivers & Outlook
Key Drivers & Outlook
Slide 11: Total FPAVs
Key Drivers 11 Value Number of physical forecourts visited Full Page Advert Views (FPAVs) (3) before people bought a car (1) (average pcm - million) Year ended March 2015 is shown as 2015 . 51% Suggests YoY% 7% OVER HALF of consumers buy on first visit 21% 13% 7% 5% 3% 1 2 3 4 5 5+ More views equals
Slide 12: Share of ARPR Growth
Key Drivers 12 Retailer ARPR Levers Selling Pillar Penetration & Upsell Financial year ended March 60% 45% March 2014 Share of ARPR Growth 30% 15% 0% 2012 2013 2014 2015 March 2015 (15%) Price Stock Upsell Cross sell
Slide 13: Cross Sell
Key Drivers 13 Cross Sell RETAILING SOLUTIONS = BUYING + MARKETING + MANAGING Split of Retailer Revenue - 2015 Retailing Solutions (£m) Year ended March 2015 is shown as 2015 . YoY% 21%
Slide 14: Market: New Car Registrations and Used Car Transactions
Key Drivers 14 Market New Car Registrations (1) Used Car Transactions (2) 3,000 80% 8,000 80% 2,500 60% 7,500 60% Used Car Transactions (‘000) New Car Registrations (‘000s) 2,000 40% 7,000 40% YoY Growth YoY Growth 1,500 20% 6,500 20% 1,000 0% 6,000 0% 500 (20%) 5,500 (20%) 0 (40%) 5,000 (40%) Jan J
Slide 15: Outlook
Summary 15 Outlook Underlying economy and automotive trends remain positive Retailer forecourt numbers likely to grow modestly and slightly slower than in 2015 ARPR improvement expected to be marginally ahead of 2015 Consumer Services revenue to remain broadly flat Display Advertising mome
Slide 16: Questions
Questions a= Autolrader
Slide 17: Appendices
= Autolrader
Slide 18: Cash Flow Statement
Appendix 18 Cash Flow Statement Movement in Working Capital: represents c.1.5% of revenue Capital expenditure: spend on property centralisation ceased in December 2014 and totaled £6.1m in 2015. SingleView spend of £1.9m with balance predominately ongoing hardware expense Cash conversion of 87
Slide 19: Four Year Record
Appendix 19 Four Year Record 2015 2014 2013 2012 Year to 31 March £m £m £m £m Revenue 255.9 237.7 218.9 209.1 Administrative expenses (122.8) (139.0) (109.8) (101.4) Operating profit before share based payments, management 144.1 126.2 116.1 111.6 incentive plans, exceptional items and impairment cha