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Aramis confirms its annual objectives at the end of the first half

(AOF) – Aramis Group rose 2.23% to 5.73 euros on the Paris market, after confirming its annual targets. For its financial year which will end at the end of September 2022, the specialist in the online sale of used cars is still aiming for a total turnover of more than 1.7 billion euros, growth in B2C volumes sold of vehicles over +45%, and a positive adjusted Ebitda.

For Invest Securities, it is not certain that the group will end with a positive annual Ebitda unless volumes pick up.

“These annual objectives are for a constant perimeter and do not assume a significant additional deterioration in the conditions of the automotive market, or the current geopolitical situation,” said Aramis.

At the same time, Aramis reiterated its medium and long-term ambitions. On a like-for-like basis and by 2025, Aramis is aiming for at least 3 billion euros in turnover and 3% adjusted EBITDA margin. By 2030, the group is aiming for at least 6 billion euros in turnover and an 8% adjusted EBITDA margin.

This update on the outlook was carried out during the publication of the results for the 1st half of 2021-2022 (October-March). Over this period, Aramis recorded a net loss of 20.3 million euros (compared to a net profit of 0.2 million a year earlier) and an operating result of -17.9 million euros (compared to +2 .8 million a year earlier).

The gross margin per vehicle sold (GPU) came out at 2,311 euros, down 2.2% in pro forma data compared to the first half of 2020-2021.

Turnover (already published) amounted to 872.6 million euros, up sharply by 47% in pro forma data and 78% in published data. It is driven by strong growth in reconditioned cars (+90.7% pro forma to 575 million euros), which offsets the sharp decline (-27.2% to 151.3 million euros) in sales pre-registered vehicles. Note that the latter are the best margined.

“Aramis Group has been able to stay firmly on track with its strategic and operational priorities during its first half of 2022, once again generating very strong growth in its sales of reconditioned vehicles, in all of its geographies, despite a macroeconomic and market context that has become increasingly complex”, commented Nicolas Chartier and Guillaume Paoli, co-founders of Aramis Group.

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