LMPX - Earnings call transcript Q4 2020 | LMP Automotive Holdings, Inc.

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Operator

Thank you for standing by. This is the conference operator. Welcome to the LMP Automotive Holdings Fourth Quarter and Full Year 2020 Financial Results Conference Call. All participants are in a listen-only mode and the conference is being recorded. After a presentation by management, there will be an opportunity to ask questions.

of would forward-looking remind of statements Securities Reform I call that the begin, Litigation contain may within Act we like everyone to this Private Before XXXX. the meaning financial All statements statements the forward-looking expressed expectations, future statements. operating prospects along goals, or management with about plans and/or beliefs, by pertaining other results future to constitute Any statements. forward-looking also be statements considered that are not historical should facts uncertainties. course, risks forward-looking of And, and statements involve Mr. now like the to to would I call turn over Chief Executive Tawfik, Automotive LMP Chairman and Sam Officer. Holdings Mr. may you Tawfik, begin.

Sam Tawfik

Thank today. you, afternoon good all. And everybody for I thank operator, and want joining to the call

EBITDA We material closed in year excess of by this current company revenue to X,XXX% XX% and capital transactions in growth estate. million generating company are These we've is additions to way our represent an remains increase income. The this million the XXXX, from acquisitions These $XX pleased twice continue almost for a over on last the annually the transformed announce transformation to acceleration market market the of average also annualized year, company annualized the XX million well company month. and strategy. return that XXX of real invested representing from the of over acquisitions on the adjusted a robust, the revenue return positioned dealerships

XX.XX EBITDA increase current year respectively. $X.X with outstanding little $X.XX. Some million loss improvement XXX% highlights of to an for leasing margins Shareholder million. X.XX EBITDA equity was and was $X.XX, fiscal was million, an Subscription of $XX an quarters X.X%, over of a profit XX%, adjusted increased $X margin versus Gross by to XXXX. share so and at last EBITDA increased XXXX million Adjusted billion million. XX%, year respectively. and per three XXX%, adjusted XX.X loss increased $X.X ending million and shares Revenue of by about rental

Financial pass our Officer, our the more call Evan Bernstein, over going some Chief detail on to for results. I'm to Now,

Evan Bernstein

you, Thank Sam.

EBITDA Our improved XXXX adjusted by XXX,XXX.

XXX,XXX. Our revenue XXXX increased by over

from increased expenses prior operating Our year.

and up of expenses staffed X.X million the we our increase XXXX. million an in over increased activity, approximately acquisition $X.X As were XXXX,

from service million. XXX% revenue hand over at Richard over shareholder to it X.X% interest And the XXXX, increased revenue XX XXX,XXX increased XX Aldahan, to to in subscription our prior end outlook. Chief equity Officer going of of Operating million our vehicle The I'm up over increased and XXXX. million to now by sales to Our an our revenue overview near-term increased the year. give XX

Richard Aldahan

I call. everyone like Evan. also joining thank would to for this you, Thank

Before late early I of our get this into the everyone year in with previously details, share as and this of as closed we on I Tuesday, want acquisitions. past to many announced March that

X.X historically over billion. investment which Our right, approximately $XX revenue million, adjusted million $XX date has generated in is That's and in $XXX million to EBITDA.

invested in in million gross $XX X.X estate, We adds associated real have also another in million rent generates and profit. $X which million

business from franchise the numbers keep discuss March other our include dealership sector. two figures will our our again, weeks three newly begin dealerships. to to to So to companies acquired that metrics only we shortly report that QX I'm mind in Furthermore, please in additional that compare of going

as XXXX follows. internal So goals and expectations our are XXXX

revenue. which or $XXX XXX to As in be to almost revenue entire stated, million $XX as revenue $XX in XXXX in you've million to to our heard million XXXX. and We continue the should is be annualized $XXX surpass earlier, anticipate for range, to QX our expected million million grow XXXX

number XXXX grow adjusted QX, in to EBITDA to will to be margins for Our in X.X% X.X% XXXX. that in the X.X% X.X% will range and of and continue

keep a total March. business of in XXX weeks some mind few additional units. For is Again, of from couple wholesale this retail pre-owned sell about XXX in units, QX, for new worth anywhere a and to units days we X,XXX a expect to of

XXXX is and Again, our is that million. with earlier, volume units anticipated total you've revenue annualized to heard as Our over XXXX for approximately XX,XXX we to XX,XXX for $XXX about anticipate units. grow to through XXXX continue be

In we any continue addition, for estate for our grow subscription for XXXX, QX XXX,XXX constant will and about XXXX to leasing XXXX, and stay $XXX,XXX $XX that for $XX additional million XXXX. million for businesses. adjusted $X don't Real and plus add is for approximately again assuming revenue to million QX

really exciting to Sam? through hand company's would goals. walk I our it to strategic to it's at like So the CEO, LMP. back And Sam,

Sam Tawfik

you the end dealer much, at effort the groups efforts and term, consolidation and want interest and is industry by profitable partnership means forefront that our of both year, dealer business. small the our the in earnings believe In we're unique near Thank between the The given increase earlier, and now principal focus as this large of the to the structure as LMP’s Richard. which shareholder operate acquisition extraordinary remains way provides. from seeing very as is of addition stay diversify next to and our well well capital impressive earnings income We as strategy grow to game, in it stated on and invested primary value. swiftest and as returns, significant the

year to end in we X.X interest. to billion million additional network, will to in Our EBITDA XXX of XXX an X.X the income and between project XXX XX minority revenue which is an post million add add goal adjusted approximately our dealerships now to to and additional next billion

to that selection and both through of both consolidate our inventories, owned corporate experienced partners, the modernize the customers and grow and teams physical a acquisitions Our with our providing disclose and in third priority hence to continue through and at experience, achieved person. our acquisition acquisitions is industry the logistics strategy, technology, seamless profitably are such, online

e-commerce our expand estate launch to drive our profit logistics turn utilizing expand delivered brand improve as of the to and And and buying pre-owned order network. and thirdly, e-commerce the planned in acres for scale. metrics in shopping will revenue continue technology operating seamless physical our platform it footprint We as sales and growth. improve to online well improve achieve XX campaign, and get acquired the We intend store which we advertising real recently should our and innovate experience. experience all company-wide order We’ll a customers to economies of as auto awareness, continue

the customer's Some financing of follows. personalized features This include Estimated the to are and based the pickup offer for vehicle up a your a and Then That's payments at networks. vehicle protection then Choose profile, can set time upload paperwork. significant delivery you certified and make provides expect and a a typically upload dealership on paperwork. then account as to choose the SG&A. payment, home we a process manage savings as plan with a well financing day get and and online. store real-time same then scenario a trade

questions Now to turn the operator for I'd and answers. it over to like

Operator

we At question-and-answer you. session. will Instructions]. conducting this be time, [Operator Thank a

first Matt Our Horn ahead. Please comes question from investor. [ph], private go

Unidentified Analyst

everybody. afternoon, question pretty Good is simple. Hi. My

know everyone with the what think wants happened I deal. Atlantic to

Sam Tawfik

cetera sold that States. I one to group. most they Sam. is don't are if dealer then that. is contiguous of United et that. grandfather are the parameters buyer. it to it the was can There This unable because in dealership answer in, the be that involved with consummated factories, Atlantic group a can't that It's be dealership And unique essentially

Unidentified Analyst

adding the we I point. want acquisitions online the see for I just Okay, know all to sale, you other and one when question. new have the acquired into the can everything this that's great. subscriptions been vehicles anticipate where at

Sam Tawfik

in to targeting progress next and we're roll weeks That's the early several systems. in onto our [indiscernible]

Unidentified Analyst

Fantastic. That's have. Thank all you. I

Sam Tawfik

Thank you, Matt.

Operator

to turn Sam There to are for one like no on. more. the would Hold floor I we further have -- questions. over

Next private question, Mitchell please go investor, Farr [ph], ahead.

Unidentified Analyst

South Florida. Hello, down Sam. Mitchell Farr in

the Web site be going Just curious, live? to when design is new

Sam Tawfik

human It’s procedure we're live automating process dealership our the in roll effort now should on but closed. systems ends to more a less automatically and the It technology is back we of and the currently of synchronizing and process our vehicle end inventory photograph. that the appear acquisitions end. to And after integrated we're to are a

will is but in rolling live. not The new inventory weeks. much So there, coming human there's in, interaction site start the the

Unidentified Analyst

the application? is it or new be a to app Is it same going

Sam Tawfik

Okay.

targeting the to roll feel app, as it then call live well is and So look should as the -- a site app we're the have Web week April live. in come into that third The April inventory.

Unidentified Analyst

Thank Excellent. you.

Sam Tawfik

you, Thank Mitchell.

Unidentified Analyst

You’re welcome.

Operator

turn over Sam floor would remarks. the for to you. Thank like to closing I

Sam Tawfik

Thank Thanks, the progress to you joining continued to call all for today. looking our And up and you again. forward keeping date.

Operator

This teleconference. concludes today's

and you thank lines may participation. your for disconnect You this at time your

LMP Automotive (LMPX) 25 Mar 212020 Q4 Earnings call transcript