Aramis Group (ARAMI) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 revenues reached €578.2 million, up 9.9% year-on-year, with B2C volumes increasing by 9.2% and a Net Promoter Score of 73, reflecting strong customer satisfaction.

• The group outperformed the used car market by 12 percentage points, driven by robust business model, high-quality execution, and strong B2C growth.

• All countries reported volume growth, with notable gains in Belgium (+28%), UK (+12%), and France (+8%), despite challenges in Spain.

• Teams are implementing the 2027 strategy, focusing on operational alignment, convergence, and tech/data enhancements.

Financial highlights

• Q1 2025 revenues totaled €578.2 million (+9.9% YoY); B2C revenues: €511.7 million (+11.2%).

• Refurbished car revenues grew 7% to €385.5 million; pre-registered car revenues rose 26.6% to €126.2 million.

• B2B revenues declined by 3.6% to €37.7 million, while service revenues increased by 6.7% to €28.7 million; financing solutions penetration stable at 44%.

• Average unit selling price remained stable, reflecting market price normalization.

• All countries contributed positively to volume growth: France +8%, Spain +4%, UK +16%, Belgium +24%, Austria stable, Italy B2C volumes +5%.

Outlook and guidance

• 2025 and 2027 objectives reaffirmed: high single-digit B2C volume growth, double-digit growth in refurbished cars, and adjusted EBITDA above €65 million for 2025.

• Gradual improvements in operating working capital are expected to continue.

• January 2025 started well, with stable market conditions and no major events impacting the outlook.