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AURES Holdings a.s. 2022 Annual Report
AURES Holdings a.s. 2022 Annual Report
20 April 2023
AURES Holdings a.s. („AURES“ or the „Group“) has today published its audited Annual Report for 2022.
2022 marked another successful year for AURES, our customers and our employees despite extremely uncertain and challenging external developments. We sold over 89 thousand cars and our revenues exceeded one billion Euro for the first time in our history.
Group revenue increased 19% to €1,013m, having sold 89,086 cars in the year, with the biggest demand coming from the Czech Republic, followed by Poland and Slovakia. In the Czech Republic, we sold 49,128 cars, in Poland we sold 19,859 cars and in Slovakia 18,569 cars were sold.
2022 Highlights
€ millions, unless otherwise indicated | 2022 | 2021 | Change |
Revenue | 1,012.9 | 848.2 | +19% |
Gross margin | 171.9 | 152.4 | +13% |
EBITDA | 44.9 | 47.3 | (5)% |
Adjusted EBITDA[1] | 50.1 | 49.1 | +2% |
Adjusted EBITDA margin (%) | 4.9% | 5.8% | (15)% |
Number of cars sold | 89,086 | 86,574 | +3% |
Number of employees | 2,494 | 2,272 | +10% |
“ I am pleased to report that our Group delivered a strong set of results against last year challenging geopolitical backdrop.Our unique proactive sourcing technology allowed us to buy 84% of all cars directly from private individuals and one time sellers. Importantly, 65% and 34% of our cars were sold with insurance and financing products, respectively. Cross-border selling is becoming increasingly important to our business model and in 2022 we sold 12% of our cars in a country different from where they were sourced. Our environmental impact remains a key focus of how we do business. We have increased the sales of hybrids and EV and every 50th car we sold in 2022 was either a hybrid or EV.” says Karolína Topolová, CEO of AURES.
About AURES Holdings
We are the largest independent pre-owned car retailer in Europe, based on the number of cars sold. We have sold 1.4 million cars and served 2.7 million clients (which includes both buyers and sellers of cars) since our inception in 1992.
We are a fully omnichannel retailer, with 58 locations across the Czech Republic, Slovakia, Poland, Hungary and Germany (including 44 full service branches and 14 buying branches). In addition we have 4 repair and logistic centers. We operate through dedicated websites for each of our key brands. We sell pre-owned cars through three key brands: Mototechna, for premium cars up to five years old with a maximum of 50,000 kilometres, representing our response to the growing affluence of customers in the CEE region; AAA AUTO, which is our main brand focusing on the mid-market; and AUTO DISKONT, which is the brand for older, higher mileage and less expensive used cars. Driverama is our e-commerce platform for sourcing cars in Germany.
The majority owner of AURES Holdings is Abris Capital Partners, a leading independent private equity fund manager for Central Europe.
[1] Adjusted EBITDA represents the Group’s EBITDA, adjusted to exclude income or expenses which are considered one off and nonrecurring operational nature. These adjustments include costs incurred such as restructuring, financing and IPO and special exit based incentives.
