Motorpoint Plc Ord (MTPTF) Q4 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to our full year results and strategy update for the year ending March 2022. Nice to see everybody. Just in terms of our agenda this morning, we will initially go through our full year results from last year, led by myself. Chris Morgan, our CFO, will then take us through some financial highlights. And I'll finally come back and update on our strategy progress and our outlook. So I think to summarize last year, we're very pleased with our results. We took significant market share. We continue to believe our omnichannel model is the leading used vehicle retailer in the UK. And we are now continuing to invest in our profitable medium and long-term growth. Just a quick reminder, Motorpoint Group PLC has two brands. Motorpoint is our consumer-facing brand, the retail brand. selling cars under four years old, under 30,000 miles. Lots of different channels being opened up through that sales platform, from distribution areas such as Sell Your Car, which is our consumer to business portion, and also diversifying our supply base further, given the absence of fleet product in the past couple of years. We also have Auction for Cars, which is an e-commerce wholesale platform And that disposes of motor points, part exchanges that are outside of our retail criteria. I think just looking at the table on page five, you can see what a fantastic year we had. Very successful. All of our KPIs moving the right way, particularly market share, which we believe will continue to grow as we strengthen our price leadership proposition. But more pleasingly for us, obviously, is opening new branches continues to take even more share in the local area within 30 minutes of a branch at 7.7% compared to our national share at 3.1%. Fundamentally believe the omnicha...