Aramis Group (ARAMI) H1 2025 earnings summary

Executive summary

• Achieved 10.5% year-over-year revenue growth in H1 2025, reaching €1,213.3 million, with nearly 61,000 vehicles sold to private customers and high customer satisfaction (NPS 72).

• Adjusted EBITDA more than doubled to €32.8 million, with net profit turning positive at €6.4 million compared to a loss in H1 2024, and strong cash generation of €23.7 million.

• Outperformed the used car market by 12 points, gaining market share across six geographies.

• Confirmed 2025 guidance and advanced strategic initiatives, including a unified group identity and operational excellence.

• Leveraged a unified European platform for scale, efficiency, and improved working capital.

Financial highlights

• Revenues reached €1,213.3 million, up 10.5% year-over-year, driven by B2C volume growth and strong performance in refurbished and pre-registered segments.

• Gross profit rose 18.6% to €141.1 million; gross profit per B2C vehicle (GPU) increased 7.6% to €2,317.

• Adjusted EBITDA more than doubled to €32.8 million; operating income improved to €15.4 million from a loss.

• Net profit turned positive at €6.4 million, compared to a loss of €13.3 million in H1 2024.

• Cash-flow generation was €23.7 million, with net debt reduced to €47.4 million from €61.0 million at September 2024.

Outlook and guidance

• 2025 guidance reaffirmed: double-digit organic growth in refurbished vehicle volumes, high single-digit growth in total B2C volumes, adjusted EBITDA above €65 million, and further improvement in operating working capital.

• 2027 targets include double-digit organic CAGR for refurbished volumes and high single-digit CAGR for total B2C volumes.

• Guidance maintained despite strong H1, reflecting caution amid economic uncertainties.