Aramis Group (ARAMI) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenues reached €573.5 million, up 17.3% year-over-year, with all operating countries contributing to growth and best-in-class execution in a normalizing used car market.

• B2C vehicle sales rose 24.8% to 28,808 units, outperforming the market by 25 percentage points.

• Refurbished vehicle volumes increased 17% year-over-year, with record client satisfaction (NPS of 74 at end-June 2024).

• Pre-registered vehicle volumes surged 67.4% year-over-year.

• Gross profit per unit improved, exceeding €2,153 from H1 2024, reflecting operational optimization.

Financial highlights

• B2C segment accounted for 89% of revenues, up 23.5% to €508.0 million in Q3 2024.

• Refurbished car revenues rose 11.5% to €389.7 million; pre-registered car revenues jumped 91.9% to €118.3 million.

• B2B revenues declined 31.5% to €35.7 million, reflecting market normalization and evolving sourcing mix.

• Service revenues increased 16.5% to €29.8 million, with financing solutions stabilizing.

• By country: France +19.1% (volumes +27%), UK +14.7% (volumes +23%), Spain +7.3% (volumes +16%), Belgium +5.4% (volumes +3%), Austria +48.9% (volumes +57%), Italy +75.9% (volumes doubled).

Outlook and guidance

• Adjusted EBITDA guidance for FY 2024 raised to exceed €40 million, up from previous guidance of above €32 million.

• B2C vehicle volume target maintained at over 110,000 units for the year.

• Ongoing focus on operational improvement and productivity to sustain profitability.