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 geographies contributing to growth.

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

• Refurbished vehicle volumes increased 16.6%, and pre-registered vehicle volumes surged 67.4% year-over-year.

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

• Customer satisfaction reached a record NPS of 74 at the end of June 2024.

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.

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

• By country: France +19.1%, UK +14.7%, Spain +7.3%, Belgium +5.4%, Austria +48.9%, Italy +75.9%.

Outlook and guidance

• Adjusted EBITDA guidance for FY24 raised to exceed €40 million (previously >€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.