Aramis Group (ARAMI) H2 2024 earnings summary

Executive summary

• Achieved record B2C car sales of over 112,000, a 40% increase since 2021, with 78% refurbished vehicles.

• Adjusted EBITDA increased fivefold to €50.5 million, with €21 million in positive free cash flow.

• Outperformed the market with 21.9% YoY B2C volume growth and 15% revenue growth, leveraging a European platform and improved operating system.

• Expanded refurbishing centers from 2 to 8 and presence from 3 to 6 countries.

Financial highlights

• FY2024 revenues reached €2,238 million, up 15% year-over-year.

• Adjusted EBITDA rose from €10 million to €50.5 million year-over-year, with H2 contributing €34 million.

• B2C volumes grew 22%, with refurbished car volumes up 12% and pre-registered volumes up 81%.

• Operating working capital improved to 26 days of revenues, down 5 days YoY.

• Free cash flow reached €21 million; CapEx was 0.6% of revenues or €14 million.

Outlook and guidance

• FY2025 guidance targets double-digit organic growth in refurbished volumes, high single-digit B2C volume growth, and at least €65 million in adjusted EBITDA.

• Continued focus on improving working capital efficiency.

• Confident in achieving 5% EBITDA margin by 2027.