Aramis Group provides double-digit growth in early 2023
Starting from October 2022, the 2023 financial year of the second-hand online sales leader Aramis Group opens in the best way with a turnover of + 10.8%. A performance driven mostly by refurbished cars. Therefore, the growth prospects are repeated.
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” Thanks to the strong presence of its teams, Aramis Group continues to grow in early 2023, despite the downward trend in its various markets. Embracing our unique vertically integrated business model and customer-centric corporate culture has allowed us to differentiate once again in a highly complex context. In particular, significant work to turn around activity in France, severely disrupted by the drying up of the pre-registered vehicle market in 2022, is beginning to bear fruit. The integration of the two recently acquired companies, Onlinecars in Austria and brumbrum in Italy, has also started and will contribute to strengthening Aramis Group’s leadership in Europe. In a market environment that remains uncertain, the group is making sure its offering meets the expectations of customers with smaller budgets. He wears it too special attention is paid to its cost structure and inventory level to maintain financial balance. Here’s what two of the company’s founders, Nicolas Chartier and Guillaume Paoli, said when announcing results for the first quarter of fiscal 2023 (October-December 2022), which ends next September.
Aramis Group is driven by refurbished cars
In detail, activity over the past three months resulted in a turnover of 439.3 million euros, up 10.8% in published data and 2.5% historically, excluding acquisitions in Austria and Italy at the end of 2022. While the French market had a share of €186.3 million (+6.8% compared to Q1 2022), Spain also contributed to the increase in total revenues thanks to trade that grew by 15.8% to €92.8 million. On the other hand, Great Britain decreased by 18.1% to 74.3 million euros.
On the segment side, results show healthy B2C activity, particularly thanks to sales of refurbished vehicles. Volumes increased by 16.9% over the year to 17,640 units. However, this figure hides significant differences between the performance of France (+17%) or Belgium (+44%) and the poor results of the UK (–11%). As for pre-registered vehicles, the situation is serious: transactions with individuals decreased by 47.3% to 2402 sales. As a result, the turnover of renewed cars increased significantly by +25.5% and amounted to 314.2 million euros, while the segment of originally registered cars logically decreased by 44.3% to 48.2 million euros. Let’s also note that B2B (car sales to professional customers), which is 12% of the turnover, earned 52.6 million euros with an increase of 36.7%. “This increase is the induction effect of the increase in the supply of vehicles to individuals, which are partly resold to professionals (mainly over 8 years old or over 150,000 km)”., we explain. Services activity (5% of turnover) amounted to EUR 24.2 million (+16.4%). “The penetration rate of financing solutions remains stable globally compared to the fourth quarter of 2022, with a group average of around 50%”Aramis says.
Positive growth for 2023
A declining second-hand car market and a tense macroeconomic, geopolitical and sectoral environment limit the visibility of Aramis’ market dynamics for 2023, the group noted in a press release. However, taking into account the first year results, the company confirms the roadmap and expects a positive organic growth in the volume of refurbished cars sold to individuals. It also sets a goal gradual improvement in adjusted EBITDA during the year, excluding restructuring costs.