OTS - Autodoc also sees profitable growth in 2019 and continues its expansion course in Europe (part 1)
2020. August 04. 10:00
Berlin, 4 August, 2020 (APA/OTS) - Sales target for 2019 achieved:
strong organic sales growth of 48% to EUR615m - EBITDA reaches
EUR44.6m, up 50% - Operations expanded to Ireland in June 2020,
bringing the total to 27 countries - Turnover target of over
EUR800m for 2020 - Autodoc, Europe's leading online dealer in the
automotive aftermarket, also grew profitably in the fiscal year
2019, thus continuing its consistent success story that began in
its founding year of 2008. The company was able to significantly
increase its sales and turnover of automotive spare parts,
consumables and accessories on the internet. Net sales increased by
48% year-on-year to EUR615.0m (2018: EUR415m). As a result, Autodoc
achieved its own sales target of over EUR600m. Earnings before
interest, taxes, depreciation and amortisation (EBITDA) increased
by 50% to EUR44.6m (2018: EUR29.7m). The return on sales improved
slightly to 5.0% (2018: 4.8%).
Autodoc's customers are end consumers (B2C) and increasingly
also corporate customers (B2B), especially independent workshops
and fleet providers. In addition to the automotive segment, Autodoc
also serves the truck segment and, since 2019, the motorcycle
segment. Autodoc sells its products exclusively via online shops
and marketplaces, thus completely doing without brick-and-mortar
retail. Consequently, the company is able to offer a much wider
selection than local retailers: the portfolio contains over 2.5
million products from 545 brand manufacturers for more than 44,000
configurations of 128 car brands. Autodoc's success is based, among
other factors, on highly technology-oriented online marketing.
Autodoc operates its own IT, logistics and service infrastructure
for the reliable and efficient handling of the automotive parts
trade. Since June 2020, Autodoc also runs a website in Ireland and
is now represented in a total of 27 European countries.
"The fiscal year 2019 was once again a very strong year for us
and proof that our growth strategy is successful. We are focusing
on early expansion into other European countries, a strong customer
focus and an aggressive pricing policy. We continued to improve our
profitability last year despite the strong expansion. Our market
offers enormous potential - e-commerce for automotive spare parts
will grow at an above-average rate in the coming years and will
allow customers to benefit from considerable cost advantages," says
Alexej Erdle, chief executive of Autodoc.
The market prospects for Autodoc are excellent: the changes
brought about by digitalisation are also having a positive effect
on the secondary market of the automotive industry. The sales
market for Autodoc has grown in recent years thanks to the trend
towards e-commerce in this segment. According to the McKinsey study
"Ready for Inspection", the potential of the European automotive
aftermarket is expected to grow to EUR295bn by 2030. The digital
market share is expected to offer the greatest growth potential.
The share of "digital entrants", which includes Autodoc, could grow
from currently less than 10% to 30%.
"Customer benefit and satisfaction have been our top priorities
since the company was founded: for example, we have further
expanded our services for customer-friendly apps. Among them is the
'Autodoc Club', which includes an extension of the app for mobile
devices, the continuous addition of repair videos to our own
YouTube channel, and the special conditions programme for frequent
customers," adds Alexej Erdle. Autodoc, he says, has become a
trendsetter for the industry, and the company's initiatives and
innovations are readily emulated by competitors.
The positive development for Autodoc continued in the first
half of 2020 despite the coronavirus pandemic. In the first
quarter, the online dealer recorded a 30% increase in sales to
EUR165m (Q1 2019: EUR127m). Sales growth for the first half of the
year amounts to around 35%. Autodoc's business is cyclical - the
company traditionally generates most of its annual revenues in the
fourth quarter. For the full year 2020, Autodoc is expecting sales
of more than EUR800m.
- Picture is available at AP Images (http://www.apimages.com) -
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