Motorpoint Plc Ord (MTPTF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody, and welcome to MotorPoint's full year results presentation for the year ending 31st of March 2024. I'm joined today by Chris Morgan, our Chief Financial Officer, and I'm Mark Carpenter, our Chief Executive Officer. We'll take you through the results. We've got a presentation that will cover the financial performance of last year and explain in detail the year that we just had and also the outlook for the current financial year. I'm going to hand you straight over to Chris for our financial highlights and the ESG update. Good morning, everybody. taken last year as a whole to start with. So if we turn to slide four, you can see. So I think, as we've been saying for quite some time, a very challenging year driven by predominantly macroeconomic headwinds. And that did lead to an overall loss, as you can see. But a very strong improvement driven mainly by our self-help in Q4. We'll see some of the numbers around that shortly. so it's a year very much marked by some deflation and a targeted move by us to a more affordable stock mix which paid dividends ultimately so we worked hard to improve metal margins and that helped offset lower finance commissions which we experienced for much of the year the business is right sized and variable costs you know such as light and heat for example and capex were very closely managed fts reduced by 10 percent and also supported by automation improvements and our right size programme. Marketing costs were closely managed and were down year on year with a strong focus on material investment. As you can see, customer acquisition costs improved year on year. So as well as impacting finance attachment rates and hence commissions, high interest rates, which throughout the year resulted in a high finance expense. So if ...