Half Year 2025 Auto Trader Group PLC Earnings Call Transcript
Key Points
- Auto Trader Group PLC (ATDRF) reported a revenue growth of 8% and an operating profit increase of 14% for the first half of the year.
- The company achieved record levels of consumer engagement, with cross-platform visits up 7% to 82.6 million per month.
- The average revenue per retailer increased by 6.3% year-on-year, driven by strong pricing and product events.
- Auto Trader's Deal Builder product has seen significant progress, with 1,500 retailers participating and a 10-fold increase in deals compared to the previous year.
- The company returned GBP122.2 million to shareholders through share buybacks and dividends, demonstrating strong cash generation and shareholder returns.
- Despite a 5% increase in unique cars sold, the acceleration in speed of sale has not translated into a meaningful increase in live stock, leading to a negative stock lever expectation for the full year.
- Autorama, a segment of Auto Trader, reported an operating loss of GBP2.8 million, highlighting ongoing challenges in the leasing market.
- The digital services tax, recognized for the first time, impacted Auto Trader's operating margin, which contracted slightly to 70%.
- The OEM advertising product has not performed as expected, with challenges in integration and presentation of new car offers affecting its effectiveness.
- The market dynamics, including faster car sales and supply constraints, have created headwinds on revenue, impacting stock lever guidance.
Good morning and thank you for standing by. Welcome to the Auto Trader Group half year 2025 results presentation. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today. Auto Trader, Chief Executive Officer, Nathan Coe. Please go ahead.
Good morning, everyone, and welcome to Auto Trader's half year results for the six months to the September 30, 2024. As usual, I'm joined by our COO, Catherine; and our CFO, Jamie, who will be both presenting and joining me for Q&A later.
Our financial and operational performance in the first half, demonstrates both the strength of our position and the strength of the partnerships we've built with our customers. Over this six month period we've had record levels of engagement and activity on our platform. There are more buyers using Auto Trader, more retailers, more cars transacted than last year.
While all of these dynamics are
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