Wells Fargo TMT Summit
0 2 D E C E M B E R 2 0 2 1
Building the Best Way to Buy and Sell Cars Online
AUTO1 at a Glance
Four Trading Channels That Makes Us The European Market Leader
AUTO1 at a Glance
1 ONE COMPANY ONE PLATFORM ONE TECHNOLOGY ONE PHILOSOPHY
2. Market Overview
Market Overview
The European Used Car Market is huge
Source: OC&C, Finaccord. Note: Comprises EU27 and Norway, Switzerland, Ukraine, Albania, Bosnia, Herzegovina, North Macedonia, Republic of Moldova. Includes B2B transactions. Financing includes markets covered by Finaccord: Germany, France, Spain, Italy, Sweden, Poland, Netherlands, Belgium, Austria, Czechia, Denmark, Hungary, Ireland, Norway, Portugal, Switzerland. Market Overview
The European Used Car Market has the Lowest Online Penetration of any Consumer Category
Used Auto is a Huge Commerce Vertical
Market Overview
We Are the Clear Leader in an Extremely Fragmented Market
Source: OC&C. Notes: 1. Company estimate. 2. Based on latest available sales of used cars (for dealerships in 2018, intermediaries in 2019), including LCVs and Passenger Cars, transacted in Europe from top 14 European dealers and intermediaries; excludes OEM-owned dealer groups (e.g. Porsche Holding Salzburg) and dealers focused on the UK, Russia, Ukraine, Belarus and Turkey. 3. Based on used cars sold by AUTO1 in 2019.
3. Sourcing
Sourcing
We Offer Maximum Convenience for Consumers to Sell Their Cars
With >160,000 Units in Q3 We Bought More Cars than Ever Sourcing
4. Our Business: Autohero and Merchant
We Are Building the Best Online-Only Used Car Dealer in Europe
|
Customer Benefits |
Autohero Benefits |
|
|
| Broadest Inventory Online |
No Need to Travel |
Maximise Demand |
|
|
| Easy Online Transaction |
Haggle-Free |
Efficient Processes |
|
|
| Fully Controlled Production |
High Quality Cars |
Economies of Scale |
|
|
| Home Delivery |
Maximum Comfort |
Brand Building without
Showrooms |
|
|
| Money-Back Guarantee |
Maximum Safety |
Maximum Consumer Trust |
|
|
| Seamless Trade-in |
Only Net Payment Required |
Maximise Conversion |
|
|
Our Online Experience Is Fully Immersive and Transparent
Our Marketing Investments are Building Material Brand Awareness Across Europe
Brand Awareness
Quarters since launch of brand building¹
Our Relentless Consumer Focus Drives Industry-leading NPS and Excellent Trustpilot Scores
We Have a Clear Roadmap to Our Long-Term GPU of EUR 3,000
Long-Term Driver of
GPU Expansion |
Potential
Impact
EUR |
Reduce average days to sale
and cross border selling |
500 - 700 |
| Smart pricing for purchasing |
400 - 600 |
| Cost of sales efficiencies |
50 - 100 |
| Increase in-house production |
500 - 700 |
| In-house financing |
800 - 1,000 |
Increase conversion of additional
products and services |
100 - 200 |
Our Key Focus is Quality and Best-in-Class Car Presentation
FOCUS ON QUALITY
Quality gates along the entire value chain
22 refurbishment centers across Europe
BEST-IN-CLASS PRESENTATION
Industry leading quality standard In-house process of taking pictures and videos
Unique experience of buying a car online
Standardised Photobooth solution
We Secured our 2021 Used Car Production Capacity Target and are on Track for Further Rollout
Merchant Overview
AUTO1.com is the largest wholesale platform in Continental Europe!
5. Current Trading (Q3 2021)
We Are Building the Largest and Most Profitable Car Dealer in the EU
Our Q3 Results Reflect Our long-term Revenue and Gross Profit Track Record
Autohero Delivers a Record Quarter on Units, Revenue and Gross Profit
Our Merchant Business Alone Achieved More Than EUR 1 Billion Revenue and More than EUR 100 Million Gross Profit in Q3
Our Merchant Business Continues to Deliver Record Quarters
- Strategic OEM sourcing partnerships, as well as our award-winning price indicator tool, demonstrate the strength of our sourcing technology and processes
- Our powerful Merchant network creates demand to enable AUTO1 to source the widest depth and breadth of used cars across all channels
We Achieved a Record Quarter in Q3 2021 on all Metrics
| EUR million |
Q3 2020 |
Q4 2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
| Cars Sold, #k |
120 |
117 |
131 |
143 |
157 |
| Merchant: C2B |
100 |
98 |
106 |
116 |
127 |
| Merchant: Remarketing |
17 |
15 |
17 |
18 |
18 |
| Retail (Autohero) |
2.4 |
4.2 |
7.8 |
8.4 |
11.3 |
| Revenue |
769.4 |
779.1 |
899.5 |
1,065.1 |
1,260.2 |
| Merchant: C2B |
629.7 |
609.5 |
671.8 |
799.0 |
933.1 |
| Merchant: Remarketing |
108.5 |
116.9 |
131.3 |
152.0 |
167.2 |
| Retail (Autohero) |
31.2 |
52.7 |
96.4 |
114.1 |
159.8 |
| Gross Profit |
86.7 |
82.8 |
86.4 |
99.3 |
116.3 |
| GPU (€) |
725 |
706 |
662 |
695 |
743 |
| Merchant GPU |
734 |
721 |
688 |
717 |
772 |
| Retail (Autohero) GPU |
268 |
290 |
255 |
363 |
365 |
| Opex |
(71) |
(105) |
(101) |
(122) |
(141) |
| Adjusted EBITDA |
16.0 |
(22.1) |
(14.3) |
(22.9) |
(24.7) |
| Adjusted EBITDA Margin |
2.1% |
(2.8)% |
(1.6)% |
(2.1)% |
(2.0)% |
Differences may exist due to rounding
OPEX includes employee expenses, other operating expenses less other operating income and less separately disclosed items
In a Constrained Supply Environment We Efficiently Built up our Inventory to Match our Growth Targets
*Defined as average inventory during the period (calculated using the beginning and ending balance) divided by cost of sold vehicles for the period and multiplied by days per period
We Have ca. €1 Billion of Available Liquidity to Build Europe's Largest and Most Profitable Car Retailer
We Are Increasing our Revenue and Gross Profit Guidance
Disclaimer IMPORTANT NOTICE
For the purposes of this notice, "Presentation" means this document, its contents or any part of it. This Presentation does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any part of it form the basis of or be relied upon in connection with or act as any inducement to enter into any contract or commitment or investment decision whatsoever. This Presentation is neither an advertisement nor a prospectus and should not be relied upon in making any investment decision to purchase, subscribe for or otherwise acquire any securities.
- The information and opinions contained in this Presentation are provided as at the date of this Presentation, are subject to change without notice and do not purport to contain all information that may be required to evaluate AUTO1 Group SE. AUTO1 Group SE undertakes no obligation to update or revise this Presentation. No reliance may or should be placed for any purpose whatsoever on the information contained in this Presentation, or any other information discussed verbally, or on its completeness, accuracy or fairness.
- The information in this Presentation is of preliminary and abbreviated nature and may be subject to updating, revision and amendment, and such information may change materially. Neither AUTO1 Group SE nor any of its directors, officers, employees, agents or affiliates undertakes or is under any duty to update this Presentation or to correct any inaccuracies in any such information which may become apparent or to provide any additional information.
- The Presentation and discussion contain forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of AUTO1 Group SE ("Forward-looking Statements"). By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking Statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of AUTO1 Group SEs prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on AUTO1 Group SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this Presentation or past performance. In addition, even if the development of AUTO1 Group SEs prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this Presentation or past performance, those developments may not be indicative of AUTO1 Group SE results, liquidity or financial position or of results or developments in subsequent periods not covered by this Presentation. Any Forward-Looking Statements only speak as at the date of this Presentation is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by AUTO1 Group SE in respect of the achievement of such Forward-looking Statements and assumptions.