Aramis Group (ARAMI) CMD 2024 summary

Strategic vision and market opportunity

• Targeting €10 billion in revenue and 5% European market share long-term, leveraging a fragmented, resilient used car market valued at up to €420 billion and 34 million units annually.

• Aims to be Europe's preferred platform for affordable, sustainable mobility, focusing on B2C used cars under eight years old and embracing electrification and circular economy principles.

• Market normalization post-pandemic, with digitalization, electrification, and regulatory changes as key growth drivers; BEVs projected to reach 45% of the used car market by 2035.

• Positioned for consolidation in a highly fragmented market, with unique cross-border inventory sharing, local expertise, and opportunities for agile, digital-first players.

• Pursues two strategic pillars: converging and leveraging the European platform, and raising the bar on customer and team empowerment.

Business model and operational excellence

• Vertically integrated model from sourcing to delivery, with proprietary operating system and performance engine enabling low working capital and high margins.

• Eight refurbishing centers with industry-leading lead times (as low as four days) and innovative repair processes, including 3D printing.

• Optichannel sales approach combines digital, phone, and physical customer centers for seamless experience and rapid, asset-light expansion.

• Maintains lowest operating working capital among peers (as low as 20–26 days of revenues), supporting a cash-generative, asset-light model.

• Internal marketplace enables cross-border vehicle flows, optimizing inventory and pricing across Europe.

Financial guidance and growth levers

• 2025–2027 targets: double-digit organic CAGR in refurbished car sales, high single-digit B2C growth, and at least €65 million adjusted EBITDA, aiming for a 5% EBITDA margin at group level.

• Delivered over €50 million adjusted EBITDA and €21 million free cash flow in 2024.

• France already achieves 5% EBITDA; group-wide convergence on best practices and technology to close margin gaps.

• Asset-light model with low CapEx (0.6% of sales), best-in-class working capital (targeting 20 days), and strong free cash flow (2.5% of sales expected at 5% EBITDA).

• M&A remains a key expansion lever, with disciplined approach to new markets and integration of acquired companies.