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Aramis Group revises upwards
its annual volume and revenue targets for the financial year of 20211, presented at its IPO
Paris, September 8th, 2021– Aramis Group, a European leader in online sales of used cars operating the Aramisauto, Cardoen, Clicars and CarSupermarket brands in France, Belgium, Spain, and the United Kingdom respectively, today announced an upward revision of its volume and revenue targets for the financial year of 20211, driven by growth in sales of refurbished vehicles.
In the current public health situation, the Group has experienced sustained activity in recent weeks and more generally over the last few months, with a particularly strong third quarter2. This dynamism reflects (1) strong trends in the transformation of the car-buying market with consumers increasingly willing to buy their vehicles online, (2) the relevance of Aramis Group's positioning, particularly in the very dynamic B2C segment and more specifically via its refurbished used car activity, which is at the heart of its profitable growth strategy, (3) the performance of its multi-channel sourcing model, and (4) the positive effects of the acceleration of the marketing campaigns launched by the Group in recent months.
As a result, Aramis Group is revising upwards its sales volume and revenue targets for the year ending 30th September 2021, and now expects:
A pro forma B2C used car sales volume of approximately 50,000 units, representing organic growth of +38% compared to 2020 (compared to approximately 45,000 units and +23% growth initially forecast),
Organic revenue of around €1.350 billion3 (compared to more than €1.250 billion initially forecast).
In this context of strong business growth and a constrained supply environment, the Group intends to seize opportunities to secure its inventory levels. As a result, the operational working capital could reach approximately 35 days as of 30th September (compared with approximately 25 days initially forecast).
In addition, the Group confirms the other elements of the 2021 guidance, which remain unchanged.
Nicolas Chartier and Guillaume Paoli, co-founders and respectively Chairman and CEO, and Deputy CEO, of Aramis Group said:
"The improvement of public health situation and the relevance of our positioning in the market of online sales of used cars to private individuals, has enabled Aramis Group to pursue its profitable growth trajectory over the last few months. The Group is now anticipating higher annual revenues than originally forecast, due to higher B2C used car sales volumes. Aramis Group is also benefiting from strong market trends, the performance of its multi-channel sourcing model, and the success of its marketing campaigns. This outlook reinforces our confidence and confirms the Group's ability to grow profitably and sustainably.”
Upcoming Financial Information
2021 annual sales: November 9, 2021 (pre market)
2021 annual results: December 9, 2021
About Aramis Group
Aramis Group is a leading European B2C platform to acquire a used car online and brings together four brands: Aramisauto, Cardoen, Clicars and CarSupermarket, in France, Belgium, Spain and the UK respectively. The Group is transforming the used car market and is putting digital technology at the service of customer satisfaction with a fully vertically integrated business model. Including CarSupermarket contribution, in FY2020, Aramis Group had pro forma revenues of c.€1.1 billion, sold 66,000 vehicles B2C, and had 1,400 employees, 60 customer centres and 3 industrial refurbishing sites. The Group's websites recorded 20M visits in Q3 FY2021. Aramis Group is listed on compartment A of the Euronext Paris stock exchange (Ticker: ARAMI – ISIN: FR0014003U94). For more information, visit: www.aramis.group.
Hugues Boëton +33 (0) 6 79 99 27 15
Tristan Roquet Montegon +33 (0) 6 37 00 52 57
Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Aramis Group operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or industry results or other events, to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include those discussed or identified under Chapter 3 “Facteurs de Risques” in the Registration Document dated 25 May 2021, approved by the AMF under number I. 21-024 and available on the Company’s website (www.aramis.group) and the AMF’s website (www.amf-france.org). These forward-looking information and statements are not guarantees of future performances.
Forward-looking statements speak only as of the date of this press release and Aramis Group expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this press release to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Such forward-looking statements are for illustrative purposes only.
This press release includes only summary information and does not purport to be comprehensive. No reliance should be placed on the accuracy or completeness of the information or opinions contained in this press release.
Some of the financial information contained in this press release is not directly extracted from Aramis Group’s accounting systems or records and is not IFRS (International Financial Reporting Standards) accounting measures. It has not been independently reviewed or verified by Aramis Group’s auditors.
This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.
1 Period ending on September 30th, 2021
2 Period covering the months of April to June 2021, with the fiscal year ending on September 30th, 2021
3 Pro forma of the CarSupermarket acquisition, excluding the B2B vehicle buying and selling export activities in Belgium, which the Group does not envisage continuing in the medium term