Motorpoint Group Plc Full Year 2021 Results & New Strategic Objectives
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Motorpoint Group Plc Full Year 2021 Results & New Strategic Objectives
Agenda Who we are Mark Carpenter, CEO / Chris Morgan, CFO Full Year highlights 2021 Mark Carpenter, CEO Financial highlights and performance summary Chris Morgan, CFO Strategy update and outlook Mark Carpenter, CEO 2 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
We’re the UK’s leading
omnichannel vehicle retailer
3 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
A group focused on growth through two distinct channels
Non Part Exchange Non Part Exchange
(Launches Summer 2021) (Launches Summer 2021)
3 years
30,000 miles
Part Exchange Part Exchange
3 years
30,000 miles
Motorpoint Auction4Cars.com
The UK’s leading omnichannel vehicle retailer The UK’s leading independent Trade car auction site
Nearly New Consumer Vehicles Light Commercial Vehicles Wholesale Vehicles
Online + In Branch Online only Online only
4 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
More than trebling revenue and gross profit since 2012
Revenue (£m) Gross profit (£m)
1200.0 90.0
1058.7 79.9 78.9
1018.0 80.0 76.4
991.2
1000.0 %
9.1
% 70.0 2 0.9
)1 )
vid vid 62.2 62.5
Co Co
822.0
800.0 re 60.0 re
(P 729.2 (P 55.7
GR GR
721.4
CA CA
50.0
600.0 563.1
40.1
473.1
40.0
33.5
400.0 367.7 30.0 25.4
311.4
21.2
20.0
200.0
10.0
0.0 0.0
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20* FY21* FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20* FY21*
*Figures shown reflect impact of Covid during 2020-2021
5 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
With huge opportunity for growth
£ 100
Market
bn
opportunity
Addressable UK market bigger as we are Online and In Branch
>800K
UK network Accelerated unique Online
of sales and digital customer Wholesale
collection transformation email opportunity
branches addresses
New branches will drive market We’re focused on delivering the best- Significant targeted marketing Further revenue opportunity through
share growth in-class customer experience Online opportunity Auction4Cars.com expansion
and In Branch
6 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
We have the most comprehensive market offering
Motorpoint Cazoo Cinch Carvana Auto1
Revenue £1,018m (FY20) >£150m (Yr 1 to 11/20) N/A $5,587m (FY20) €3,476m (FY19)
Market Cap (May 21) £0.25bn £5bn (prediction) £5bn (prediction) $46bn $10.3bn
Best value - price promise
Next Day Home Delivery
End-to-end online journey
NPS 83
Address full TAM
Hub and Spoke Distribution model
Sales branch network
Own wholesale channel
Clear market segment leader
Industry-leading stock turn
Proven profitable growth model
Cash generative, Capital light model
Award winning employee engagement
7 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
Motorpoint - the Car Buyer’s Champion
14
UK wide
branches
1.5m
Our addressable
annual
vehicle market
Making car buying easy Online or In Branch
Easy to Easy to Easy to Easy to Easy to
find view buy collect contact
Breadth and range of Convenience and Financing and Part
vehicles available speed of vehicle Exchange completed
24 hours comparison in privacy of own
home and with access Range of collection
• >4,000 cars • Imaging upgrades to all information and delivery options to
• 2,500 unique make/ • Comprehensive Accessible both Online
fit customer lifestyle
model/trim specs • No hassle 14 day and In Branch –
return policy customer services
Online • Reserve and Collect
managed at local level
• Free Home Delivery
Nationwide branch Range of physical stock Confidence from • Same day drive
• Phone
locations. Customer In Branch and direct Customer Care away
• Email
Care colleagues In access to Handover colleagues to take • Next Day Home
• Live chat
Branch teams customer through the Delivery
options and process • Average handover
• >250 cars at branch • Test drive time 30 mins
• Nationally • No hassle 14 day
In Branch transferable stock return policy
9 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
Auction4Cars.com – all online and a unique revenue stream
No
movement >9,000
fees customers
Faster Very low
stock turn
overheads
(14 days)
Trusted Low
brand by buyer’s
wholesale Auction4Cars.com
customers
fees
The UK’s leading independent Trade car auction site
10 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesAuction4Cars.com – a huge opportunity
Marketplace allowing vendors to
Non Part Exchange channel
sell vehicles, commission based
(Summer 2021)
(late 2021)
Auctioneer market >1.5m units Trade buyers looking for new and
per annum efficient ways to buy stock
We currently wholesale We have the property
c.35k units per annum,Full year 2021 highlights
Mark Carpenter, CEO
12 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesTransforming through agility achieved in a year of macro challenges
Accelerating online Sales team repurposed Our conversion of
purchasing, 37% during lockdown to online traffic is stronger
customers buy online outbound and handover than ever,
since branches reopen duties approaching 4%
83 NPS for online Covid safety measures Free Home Delivery
customers continuously adapted launched
13 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesThat delivered results
68k 25k
Vehicles* 69% Vehicles*
Vehicles sold across the Group. FY20: 96K Percentage of sales online. FY20: 54% Vehicles sold online to trade via
Auction4Cars.com. FY20: 36K
*Impacted by Covid
*Impacted by Covid
22% 9,300
Vehicles
14
Branches
Of retail vehicles delivered Delivered through Free Home All branches now provide Next
through Free Home Delivery. Delivery using internal team Day Free Home Delivery within
FY20: Nil resources. FY20: Nil 60 minutes of the branch
14 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesAnd strong growth in online sales
+ 89% 57% 47k + 35%
Online retail
Online retail Home Delivery
sales Units revenue
Q4 Jan – Mar 2021 Vehicles sold online and fulfilled 69% sold online in FY21 In FY21
through Home Delivery in Q4 (FY20: 54%)
15 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesCreated from further investment in our digital estate
Easy to Easy to Easy to Easy to Easy to
find view buy collect contact
• Improved listings • 360˚ interior and • Digital end-to-end • Reserve and Collect • Quality, service and
and search exterior imaging journey fulfilment
• Free Home Delivery
support from
• >4,000 vehicles to • Multiple interior/ • Part Exchange • 7 days a week branch
view exterior views • Finance collection or delivery
• Phone, email, live
• Video • At home paperless • Same day chat
check in driveaway
• Dedicated central
• Book collection team
Online
• >50 online sales
team
• >200 branch sales
team
16 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesWith new branches substantially supporting market reach
Stockton-on-Tees (Opened December 2020) • Our market share increases
• Sales and Customer Fulfilment Branch, dramatically in the vicinity of
preparation fulfilled by increased capacity new branch locations
in Birtley
• Streamlined Branch team, consistent with
sales focus, including shared General
Manager
Swansea (Opened January 2020) Swansea branch
• Performed strongly despite Covid
restrictions
• Impact of opening – Swansea region 0-3yr
sales substantially outperforms UK 0-3yr
average
3.2%
2019
10.5%
2020
60
minutes
We have Next Day
Free Home
Delivery within 60
minutes of a
branch
1st year 0–3 market share
17 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesWhich is great value for our customers
Motorpoint Key Motorpoint benefits Cazoo
Award winning service
£19,999* £20,500*
Extensive Choice
2,869 miles/69 plate 18,738 miles/69 plate
Great Value
AutoTrader Price Position AutoTrader Price Position
91.97% Quality Standard 99.15%
Flexible Finance Options
Competitive Part
Online + In Branch Exchange Prices
Test Drives Readily
Available
Buy Online, Collect In
Branch
Free Home Delivery
Same Day Driveaway
Contactless Collections
14-day money back *Website data comparison 17/5/2021 BMW X2 1.5 18i SE sDrive 5dr. Vehicle model
shown for illustrative purposes only.
18 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesWhich is great value for our customers
Motorpoint Key Motorpoint benefits Cinch
Award winning service
£8,599* £9,250*
Extensive Choice
8,059 miles/19 plate 8,046 miles/68 plate
Great Value
Quality Standard
Flexible Finance Options
Online + In Branch
Competitive Part
Exchange Prices
Test Drives Readily
Available
Buy Online, Collect In
Branch
Free Home Delivery
Same Day Driveaway
Contactless Collections
14-day money back *Website data comparison 11/6/2021 Fiat 500 1.2 Lounge. Vehicle model shown for
illustrative purposes only.
19 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesWhilst we deliver the best service and quality
33%
Repeat
customers
Motorpoint Quality Standard sits at
the core of our operations, ensuring
we deliver the highest levels of quality FY20: 30%And acting responsibly
By supporting our environment and our communities
Birmingham Clean The following initiatives were “ Motorpoint has • Employees Enterprise
Air Zone Initiative undertaken in FY21 always been heavily Network
Birmingham City Council
partnered with us to offer people
• 4,528 tyre casings collected immersed in • Automotive 30% Club –
working in the Clean Air Zone the from branches and recycled supporting the local raising inclusion and gender
chance to scrap their old car and
• 3.9% of waste to landfill communities and balance throughout the
receive £2,000 credit towards a
automotive industry
compliant vehicle, or a mobility
• 59% vehicles banded Euro 6 specifically helping
credit.
to positively impact • Apprenticeships
• 82% of parts disposed
recycled the future.” • Regional charity partners
• All three main third party • Payroll Giving
valet service providers are • Living Wage
using bio-degradable • Disadvantaged groups
products allowed use of offices during
Covid
21 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesPowered by our people
# 1
Automotive Team
4.5/5
company turnover
Best Companies ranking Reduced to 19% in FY21 (FY20: 26%) Our Glassdoor score
overall #18
• The Inclusion Committee is
chaired by the Chief People
Officer and has eight other team
member representatives from
46
c.800 across the group as peer
mentors and allies
Employees
• Dedicated resource and
expertise to our Equality, Diversity
& Inclusion plans
• Feedback and engagement at
Promotions made this year
CEO Happy Hour
22 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesStrengthened by our leadership at all levels
Good mix of new skills and industry experience
to deliver and accelerate E-commerce transformation
Chief Executive
Officer
Chief Chief
Chief Financial Chief Technical Chief Marketing Chief Digital Chief People
Operating Commercial
Officer Officer Officer Officer Officer
Officer Officer
Further investment in talent at levels below to
support leadership team
New hires since Q4 2019 Currently hiring
23 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesBack open for business
Huge online growth in Q4
Strong demand In Branch and
Online since April reopening
24 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesFinancial highlights and
performance summary
Chris Morgan, CFO
25 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesFinancial highlights
£’m unless stated FY21 FY20 Change
Revenue 721.4 1018.0 (29.1)% Resilient performance during lockdown,
increasing online activity
Profit before tax 9.7 18.8 (48.4)%
• Revenue reduction consequence of pandemic and
Cash 6.0 0.8 5.2 government lockdowns
• Decisive action to preserve cash, and protect
ROCE 53% 97% (44)pp colleagues and customers
• Accelerated investment in digital offering
EPS (pence per share) 8.4p 16.4p (48.8)%
Dividend - 7.0 (7.0)
26 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesOperating results
£’m FY21 FY20 Change
Revenue • 68k vehicles sold (FY20: 96k), 43k to retail customers.
₋ Retail 593.8 839.0 Of total, 69% vehicle sales online
₋ Wholesale 127.6 179.0
• Online retail revenue up 35%
Total revenue 721.4 1018.0 (29.1)% • 9,300 vehicles home delivered
• Gross margin improved to 8.7% (FY20: 7.8%); improved
Gross profit 62.5 78.9 (20.8)%
operational control and strong demand following the first
lockdown
Operating expenses (49.9) (56.6) (11.8)%
• Vehicle handling and preparation improvement
Operating profit 12.6 22.3 (43.5)% • Variable overheads tightly controlled
Finance costs (2.9) (3.5) (17.1)% • Reduced marketing spend during lockdowns, but digital
spend increased
Profit before tax 9.7 18.8 (48.4)% • PBT pre-IFRS16 £10.2m (FY20: £19.5m)
• EDITDA pre-IFRS16 £13.4m (FY20: £23.0m)
EBITDA 18.3 27.3 (33.0)%
27 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesBalance sheet
£’m FY21 FY20
Fixed assets 16.1 18.9 • One new site opened in Stockton-on-Tees
Right of use assets 43.6 41.6 • Sales and leaseback of Swansea site completed Q421
• Planned stock build up for April 2021
Inventories 128.4 111.8
• Stock funding in trade payables £89.2m (FY20: £86.1m)
Net cash 6.0 0.8 • Receivables increase reflects VAT repayment
Trade and other receivables 7.7 4.4
Trade and other payables (125.7) (111.6)
Lease liabilities (49.3) (45.4)
Other 0.8 (0.3)
Net assets 27.6 20.2
28 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesCashflow
25 • Cash supported by
Government support (CJRS
£3.9m and rates relief £1.8m)
6.1
• Capital expenditure includes
Stockton-on-Tees
20 18.3
• Disposal relates to Swansea
sale and leaseback
• Stock build up in Q4 in advance
-5.7 of reopening
15 -3.6
• Closing monthly net cash
balances positive throughout
year
-3.6
• No structural debt
10
6.0
-6.3
5
0.8
0
EBITDA Disposal Lease payments Closing net cash
Opening net cash Capex Interest and Tax Working capital / other
29 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesCapital light model generates high ROCE
Return on capital employed
140% • ROCE reduction consequence of
pandemic and government
117%
lockdowns
120%
• Leasehold property model
102%
91% 97% • Stock funded by third parties
100% • Vehicle paid for prior to
delivery/collection
80% • Stock turn improvement post
year end
53%
60%
40%
20%
0%
FY17 FY18 FY19 FY20 FY21
*Figures shown reflect impact of Covid during 2020-2021
30 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesStrategic update and outlook
Mark Carpenter, CEO
31 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesOur ambition is to double
revenue to more than £2 billion in
the medium term
32 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesWhat does this ambition look like?
Double revenue Online revenue Gross Profit margin Profit Before Tax margin EBITDA
£ 1.0bn £ 0.4bn 7.8% 1.8% 2.7%
Actual FY20
Medium
term
targets
>£2.0bn >£1.0bn >8% 2-3% 3-4%
Across retail and wholesale sales Whilst balancing customer Whilst investing in data, tech and
investment and revenue mix marketing to further grow opportunity
33 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesOur medium term operating margins
FY20 Medium term base case
Gross Profit 7.8% >8.0%
Staff costs 3.0% c. 2.7%
Marketing 0.7% c. 1.2%
Depreciation/Occupancy 0.7% c. 0.6%
Other 1.2% c. 1.1%
Interest 0.4% c. 0.4%
Profit Before Tax 1.8% >2.0%
34 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesWe see huge potential in the current market…
8 million annual Huge potential. 1.5 Disrupt established
used car million units inWe’ve continued to invest in our evolving customer for over 20 years
What matters to the customer: Drive our investment in:
• Value
The best price
• Choice
Make and model
Location Technology +
E-commerce
• Quality
Assurance
Warranty
Customer • Service
Fluid between Customer Care Agents
channels • Seamless processes Data analysis
• Security CRM and marketing
• Convenience
Online In Branch Reserve and Collect
Free Home Delivery
90% of customers begin their journey online • Environmental proposition
Electric Vehicles
Logistics
Responsible vendor
Home Delivery/
Reserve and Collect
36 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesOur model is shifting as the online channel grows
Customer migration online Availability of smaller space Hub and spoke
• Accelerated by Covid • OEMs rationalising costly dealer • Sales and fulfilment centres Increased market
networks satisfying online demand
• 36% of sales have been online
since re-opening (April 2021) • Increased brand awareness to • Increased capacity
share
drive online • Improved operational efficiency
• Less space required • Branch refurbishment
• Provides Home Delivery hub • Glasgow – prep centre opening
locations Summer 2021
37 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesMeeting the potential across the UK through Hub and Spoke
FY20 Regional nearly new market share*
66% • Opportunity to further increase
market share by reducing drive
within time to branch
60 • Smaller ”spoke” branches provide
strong brand awareness and
support online Reserve and Collect
minutes
and Home Delivery
25% to 30% • Large opportunity exists in
66% of 0-3 market is within currently unfulfilled locations
60 minutes of a Motorpoint 20% to 25%
Branch
15% to 20%
10% to 15%
Drivetime to a 2020
Branch Market Share* 5% to 10%
Within 30 minutes 9.9% 4% to 5%
3% to 4%
Within 45 minutes 7.3%
2% to 3%
Within 60 minutes 6.1% 1% to 2%
0% to 1%
*Q3 SMMT 2020 data
38 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesBoth branch cohorts and online growth drive market share
Potential Sales Channel mix
80%
Market
60%
3.5 share
40%
years grows
20%
0%
Average repeat cycle Market share grows over 8
FY20 FY21 FY22 FY23 FY24 years as customers repeat
Branch Online
Branch cohorts prove market share growth
15%
10%
33%
5%
0%
Of sales are repeat
Opened in past 8 years Open over 8 years customers
39 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesIncreased investment into our
technology, data, E-commerce and
capacity will accelerate our growth
40 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesOur strategy to grow revenue to more than £2 billion in medium term
Rapidly upscaling our Operational efficiency
Increase customer Expand wholesale
E-commerce through technology and
acquisition and retention channels
capability innovation
• Increased investment in technology • Open 12 sales and collection • Invest in Auction4Cars.com to • Increase capacity for >200,000
and data science branches accommodate new supply channels vehicles
• Leverage data to drive intelligence – • Increase CAC in short term with • Enable migration to B2B platform • Complete Hub and Spoke
customer segmentation, inventory subsequent reduction with multiple vendors preparation model supplying sales
and buying efficiency and collection branches
• Drive E-commerce sales • Motorpoint ”Sell your Car" proposition
• Drive the potential increase of online aggressively for non Part Exchange customers • New preparation centres, starting
sales to 50% of revenue with Glasgow (open Summer 2021)
• Drive brand awareness and
• Invest in the best people “shared value” customer proposition • Increase automation and technology
in preparation
• Launch direct from consumer supply • Personalisation of E-commerce
channel (Summer 2021) customer journey to enhance • Target logistics efficiency to reduce
lifetime value cost per vehicle movement in
• Transform Auction4cars.com into a
network
marketplace and open up to new • Reduce customer repeat cycle
vendors (late 2021)
• Quality Control & operational
excellence
• Outbound and save teams launched
• Target LCV online sales
Powered by Our People
41 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesPowered by Our People
Our people and culture will continue to underpin our
strategic growth
People strategy Enabled by Targeted Goals
• Growth • Organisational design to meet • Employees become
• Performance digital transformation shareholders
• Reputation • Acquisition of new skills • Maintain 3* bHeard ranking
• Employer brand and engagement • Measurable and integrated ESG
• Bolstered SLT and leadership agenda and goals
capabilities • Skilled workforce to support
• Many years of experience; buying digital aspiration
and pricing expertise
42 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesA proven profitable growth model full of opportunity
Opportunities for growth
Motorpoint today
• Relentless focus on E-commerce
• High online sales content • Increasing shift to online provides
operating model opportunities
• High In Branch NPS
• Greater market share accessed
• Leading Value retailer in nearly
through Hub and Spoke branches
new cars
• Expansion of Auction4Cars.com
• Auction4Cars.com
with disruption of the existing
• Light Commercial Vehicles wholesale market
• Finance and ancillary products
• Investment in new skills and talent
43 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesQ+A 44 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
Appendix
Financial and non-financial KPIs
45 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesFinancial and non-financial KPIs
FY21 FY20 FY19 FY21 FY20 FY19
Volumes Finance Penetration – Branch 48% 48% 47%
Retail 43,144 60,475 63,429 Finance Penetration – Online 38% 34% 33%
Wholesale 24,367 35,772 38,472
Total 67,511 96,247 101,901 Preparation pu 198 213 206
Transport pu 97 94 88
Online 22,543 16,605 18,668
Branch 20,601 43,870 44,761 Marketing pu (CAC) 163 117 113
Total Retail 43,144 60,475 63,429
Staff costs 26,255 29,701 29,686
Marketing 7,022 7,046 7,140
Part Exchange 56% 59% 61%
Depreciation and Occupancy 6,157 7,493 6,440
Other opex 10,446 12,338 11,049
GP pu
Total Operating Expenses 49,879 56,578 54,315
Vehicle 469 324 370
Finance and ancillary income 785 827 778
Rent (pro forma) 4,925 4,557 4,268
Total GP per retail unit (total GP %) 1,254 (9.1%) 1,152 (8.3%) 1,149 (8.6%)
Total GP per wholesale unit (total GP %) 344 (6.6%) 259 (5.2%) 184 (3.6%)
Online Gross Profit 26,345 16,538 18,415
Branch Gross Profit 27,760 53,128 54,438
Wholesale Gross Profit 8,377 9,262 7,075
46 Motorpoint Group Plc - Full Year Results 2021 and New Strategy ObjectivesDisclaimer The information, opinions and statements contained in this presentation and any associated discussion (this “Presentation”) has been prepared by Motorpoint Group PLC (the “Company”) and has not been independently verified. The Presentation is only intended for information and reference purposes as at the date of the Presentation which does not purport to be comprehensive, nor offer any form of accounting, financial, investment, tax or other type of advice. Neither the Company and its subsidiaries, nor the directors, officers, employees or agents of the Company and its subsidiaries (each an “Identified Party”) accepts any responsibility, obligation or liability (whether in contract, tort or otherwise) in relation to the Presentation (including its completeness, adequacy or accuracy) or any related written or oral information based on or relating to the reader's use of the Presentation. No representation or warranty, express or implied is made by any Identified Party, as to the accuracy, reasonableness or completeness of the information contained in the Presentation and no reliance should be placed upon it including any oral or written information provided in connection with the Presentation or any data which may be generated therefrom. The Presentation is not a prospectus and does not constitute or form part of an offer or invitation to subscribe for, underwrite, purchase or sell securities, nor shall it (or any part of it) form the basis of, or be relied upon, in any way in connection with any investment decision or other evaluation relating to any securities. This Presentation may contain estimates, forecasts, projections, targets and forward looking statements including statements regarding our intent, belief or current expectations with respect to the Company`s businesses and operations, market conditions, results of operations and financial condition, capital adequacy, specific provisions and risk management practices (together, “forward looking statements”). No assurance that any matters in the forward looking statements are achievable can be made because they relate to future events and are based on various assumptions made by the Company, which assumptions may not prove to be correct and/or are outside of the Company’s control. The Company’s business and operations are subject to a variety of risks and uncertainties, many of which are beyond its control and, consequently, actual results may differ materially from those expressed or implied by any forward looking statements and projections. Nothing contained within this Presentation should be construed as a profit forecast or profit estimate. The Company does not undertake any obligation to publicly release the result of any revisions to these forward looking statements to reflect events or circumstances after the date of this Presentation to reflect the occurrence of unanticipated events. While due care has been used in the preparation of forward looking statements, actual results may vary in a materially positive or negative manner. Past performance is not a reliable indication of future performance and recipients should not place any reliance on any forward looking statements. 47 Motorpoint Group Plc - Full Year Results 2021 and New Strategy Objectives
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