Motorpoint Group (MOTR) Trading Update summary

Trading performance

• Retail sales in Q1 FY25 showed strong growth compared to the same period in FY24.

• Positive trading momentum from the start of FY25 has continued into the first quarter.

• The Board remains confident in achieving full-year expectations, citing improved vehicle supply and customer sentiment.

Financial position

• Net cash at 30 June 2024 was approximately £6.5 million.

• 2.5 million shares were bought back and cancelled at a cost of £3.5 million.

Business model and operations

• Operates as an omnichannel used vehicle retailer with both online and in-store offerings.

• Runs a B2C platform (Motorpoint.co.uk) and a B2B wholesale platform (Auction4Cars.com).

• Focuses on providing seamless buying, selling, and financing experiences for customers.