Aramis Group (ARAMI) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 revenue rose to €591.2 million, up 3.1% year-over-year, with double-digit growth in France and Belgium, but declines in Austria and Spain due to local challenges.

• Retail volumes increased 2% year-over-year, outperforming a market that declined by 6%.

• Customer satisfaction reached a record NPS of 75, and employee engagement remained high with an eNPS of 52.

• The group continues to focus on profitable growth, operational discipline, and leveraging its integrated vertical model.

• France and Belgium delivered double-digit growth, while Spain and Austria faced operational challenges; UK and Italy focused on unit profitability.

Financial highlights

• Q3 2025 B2C volumes grew 2% year-over-year to 29,373 units; nine-month B2C volumes up 7.4%.

• Refurbished car revenue fell 2.9% to €378.5 million, while pre-registered car revenue surged 22.3% to €144.6 million.

• B2B revenue increased 2.2% to €36.5 million; services revenue up 5.9% to €31.6 million, with financing penetration at 44%.

• France revenue up 10.8% to €264.0 million; Belgium up 12.2% to €78.1 million; Spain down 14.1% to €71.2 million; Austria down 20.2% to €45.0 million.

• Preregistered segment grew by 22% in Q3, demonstrating agility in seizing market opportunities.

Outlook and guidance

• FY 2025 guidance revised to mid-single-digit organic growth in refurbished and total B2C volumes, with adjusted EBITDA close to €65 million.

• 2027 guidance: double-digit organic CAGR for B2C pre-registered, high single-digit for refurbished.

• Ongoing focus on operational working capital improvement and sustainable, profitable growth.

• Second half expected to be more modest than the first, with focus on profitable growth and operational improvements.