Aramis' core profit slides into red, shares follow

Aramis SA

02/12/2022 08:07

** Shares in Aramis  ARAMI.PA  drop 6.3% after the French
online used car sales group's annual core profit turned to loss
    ** The company posted FY adjusted EBITDA loss of EUR 10.7
mln ($11.28 mln) against a profit of EUR 37.2 mln a year earlier
    ** Its FY net loss widened to EUR 60.2 mln versus EUR 15.5
mln last year, despite 29.2% higher revenue at EUR 1.77 bln
    ** Aramis sees in 2023 positive organic growth in volumes of
B2C refurbished vehicles sold, improvement in adjusted EBITDA
    ** Co-founders pointed to French, Belgian business lines
"virtually disappearing" due to a shortage of available vehicles
    ** They also flagged the very sharp price rises trend from
2021 and tensions surrounding B2B sourcing channels
    ** The stock of Aramis is down around 68% year-to-date
($1 = 0.9489 euros)
 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))