Q1 2 0 2 1 Earnings Presentation
M A Y 1 9 , 2 0 2 1
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Building the Best Way to Buy and Sell Cars Online
We Are Delivering on our Key Objectives for 2021
Scale Autohero Deliveries
Autohero Delivers Massive 87% Quarterly Unit Growth
Scale Autohero Deliveries
Our Unique Sourcing Channels Put Us in a Position to Offer the Most Superb Used Car Inventory Across Europe
CarMax relates to the sourcing split over the last five fiscal years as reported in their Annual Report for the fiscal year ended February 28, 2021 Carvana sourcing split as published in their Q4 2020 Letter to Shareholders 6
The nine Autohero markets include Germany, Austria, Belgium, France, Italy, Netherlands, Poland, Spain and Sweden
Germany Demonstrates the Power of Our Marketing Machine
A18+ relates to all genders at least 18 years old; M 18-44 relates to males between 18 and 44 years old, who represent our target group
We Continue to Increase NPS Across All of Our Markets
More of Our Unique Glass Trucks are on the Road, Delivering the Highlight of Our Customer Experience
Today refers to the 17th of May 2021
Control Autohero GPU
We Are Speeding Up Our Plans to Take Over Refurbishment Ourselves
Examining 3-4 sites in Germany & Poland with Potential Mid-Term Capacity of 50-100k p.a.
Total refurbishment capacity refers to the combined internal and external refurbishment capacity
Grow C2B units
C2B Continues to Operate Strongly Despite Ongoing COVID-19 Lockdowns
Grow Remarketing units
Remarketing Also Continues to Show Strong Growth Despite COVID-19
Financial Performance in Q1 2021
Strong Financial Performance
| €m |
Q1 2020 |
Q2 2020 |
Q3 2020 |
Q4 2020 |
Q1 2021 |
| Cars Sold, #k |
154 |
66 |
120 |
117 |
131 |
| Merchant: C2B |
141 |
57 |
100 |
98 |
106 |
| Merchant: Remarketing |
11 |
8 |
17 |
15 |
17 |
| Autohero |
2 |
1 |
2 |
4 |
8 |
| Revenue |
877 |
404 |
769 |
779 |
900 |
| Merchant: C2B |
767 |
343 |
630 |
610 |
672 |
| Merchant: Remarketing |
77 |
46 |
109 |
117 |
131 |
| Autohero |
34 |
15 |
31 |
53 |
96 |
| Gross Profit |
89 |
27 |
87 |
83 |
86 |
| Merchant |
88 |
27 |
86 |
82 |
84 |
| Autohero |
1 |
0 |
1 |
1 |
2 |
| GP margin |
10.2% |
6.8% |
11.3% |
10.6% |
9.6% |
| Opex |
(88) |
(38) |
(71) |
(105) |
(101) |
| Adjusted EBITDA |
1 |
(10) |
16 |
(22) |
(14) |
| Margin |
0.1% |
(2.5)% |
2.1% |
(2.8%) |
(1.6)% |
Differences may exist due to rounding
OPEX includes employee expenses, other operating expenses less other operating income and less separately disclosed items
Control Merchant and Autohero GPU
GPU Performance in Line With Guidance
Reflects Growth of Autohero
Inventory reflects Investment in Autohero Growth, While Maintaining Best in Class Turns
*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
26
Almost €850m of Cash and Liquid Assets with all Corporate Debt Paid Down
Guidance Update
We Confirm Our 2021 Outlook