Auto Dealer Group plc (OTCPK:ATDRY) Q2 2024 Earnings Convention Name November 9, 2023 4:30 AM ET

Firm Contributors

Nathan Coe – Chief Government Officer

James Warner – Chief Monetary Officer

Catherine Faiers – Chief Working Officer

Convention Name Contributors

William Packer – BNP Paribas Exane

Andrew Ross – Barclays

Sean Kealy – Panmure Gordon

Pete-Veikko Kujala – Morgan Stanley

James Tate – Goldman Sachs

Giles Thorne – Jefferies

Ciaran Donnelly – Berenberg

Rahul Chopra – HSBC

Nathan Coe

Good morning, everybody, and welcome to Auto Dealer’s Outcomes for the Six Months Ending thirtieth of September 2023. As typical, I am joined by our COO, Catherine; and our CFO, Jamie.

Our efficiency within the first half demonstrates the energy of our enterprise by way of totally different financial cycles, the sturdy partnership we’ve developed with our clients and a resilient used automobile market. Car demand stays sturdy, and provide will proceed to be impacted by low new automobile gross sales over the previous few years.

We have additionally made good progress on our key strategic initiatives throughout our market, platform and digital retailing, offering an extended runway for future worthwhile development. Because of this, we’ve confidence in each the second half of the monetary yr and the years to come back, significantly as lots of the structural adjustments within the automotive business, be that electrical automobiles, company fashions or direct gross sales, all current alternatives to increase our model, expertise, knowledge and shopping for expertise to assist new and current clients and automobile patrons.

Let’s transfer now to our strategic overview. Our core Auto Dealer enterprise grew income 9%, working revenue 10% and achieved working revenue margins above 70%. Income development was larger at a bunch degree, and group working revenue additionally grew 10%.

Our core retail income line continues to carry out nicely. Common income per retailer, or ARPR, grew 12%. And


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