AAA AUTO GROUP N.V. 
By Regulatory Announcement of Inside Information
Published: 10.01.2011 at 08:00
AAA AUTO Group Records 13% Sales Growth in 2011
Prague / Budapest, 10 January 2012 - According to the preliminary sales results, AAA AUTO Group sold a total of 44,828 used cars in 2011 which is 13.4% higher than total sales for 2010. The group therefore exceeded its declared goal to increase its annual sales in 2011 by at least 5% year on year.
These 2011 total sales results confirm trendsthat have been communicated by the company throughout the year, that the retail used car market recovered quickly from the previous downturn, and that the company has also been benefiting from a resurgence of customer confidence in consumer credit financing. Both of these trends were reflected by the Group's improved sales dynamics during 2011.
The results from the last few months of 2011 also indicatethat for the time being there are no tangible signs that the current uncertainty about the future economic development is affecting consumer demand on the used car retail market. Despite December traditionally being low season, sales soared by 19.1% compared to the same period in 2010, after 9.3% yoy sales growth during November.
The company also continues to see a strong demand for credit financing by its customers. In 2011 AAA AUTO Group's financial services penetration (i.e. the ratio of cars sold on credit or leasing) grew to 43.5% from 39.5% in 2010. In the fourth quarter of 2011 alone, the financial services penetration jumped to 47.3% compared to 40.9% in 4Q 2010.
In terms of country sales performance, of the 44,828 used cars sold by the group in 2011, 32,936 cars were sold in the Czech Republic (+13.5% yoy), 11,592 cars in Slovakia (+10.3%) and 300 cars in Russia where the company recently opened its first branch near Moscow in September 2011. The sales in Russia are well on track with the Company's business plan. The company intends to open another two to three new branches in the Czech Republic in 1Q and 2Q 2012. The new branches are expected to lead and support sales growth in 2012 for the whole group.
The 2011 regional sales performance leaders were,as usual, Prague, Brno and Ostrava in the Czech Republic followed by Bratislava, Košice and Žilina in Slovakia.
AAA Auto Group N.V. will announce its 2011 preliminary consolidated financial results on 29 March 2012.
Monthly Sales Development of AAA AUTO Group in 2009, 2010 and 2011
FY 2010 | FY 2011 | yoy | 4Q 2010 | 4Q 2011 | yoy | |
CzechRepublic | 29,018 | 32,936 | 13.5% | 7,016 | 7,891 | 12.5% |
Slovakia | 10,512 | 11,592 | 10.3% | 2,897 | 2,756 | -4.9% |
Russia | 0 | 300 | n/m | 0 | 300 | n/m |
39,530 | 44,828 | 13.4% | 9,913 | 10,947 | 10.4% |
Monthly Development of financial services penetration in 2011
Source: Company data
Contact:
Dana Pavlousková Pavel Tu
