iCar Asia’s stock surged up by 4.348% on publishing the Investor Presentation for FY 2018

The owner and distributor of motor vehicle classifieds and content websites throughout Asia, iCar Asia Limited (ASX: ICQ) published a full year 2018, investor presentation on 11 March 2019. The presentation provides a general background on the iCar Group and its activities.

In 2018 financial year, the group revenue growth accelerated by 27%, and 41% in H2 FY18. The total monthly visitors were around 12 million per month, while the total monthly leads were noted at around 1 million per month.  The cash receipts were up by 46%.

ICQ had a profitable, and positive cash flow in Malaysia since September 2018, and Thailand since December 2018. Indonesia business experienced 58% Revenue growth on YoY basis.

iCar Asia has extended its leadership in market position as the largest and most trusted automotive portal in Malaysia, Thailand and Indonesia.

Facts and figures in 2018 incudes:

  • More than $27 billion value of cars were listed for sale.
  • Beyond 224 million car listing page views per year.
  • +46% of Unpaid traffic growth (Total traffic growth 37%).
  • +79% Increase in mobile web users.
  • 970k+ Total listings per annum.
  • +28% Faster page loading time.
  • +139% Increase in logged in users.
  • +20% Increase in engaged sessions (more than 3 pages per session).

Financial Performance:

  • There was strong growth in revenue of 27% (Used Car 29% and New Car 23%).
  • The YoY growth accelerated throughout the year with H2 growing at 41% and accelerating 31% half on half.
  • The cost base increased due to one-off admin costs and non-cash employment costs.
  • The EBITDA losses were narrowed by $514k or 4% as a result of higher revenue.
  • The company had $9.5m in cash and only required this to fund the business to break-even.

At present, Malaysia and Thailand’s positive margins are accelerating, and Indonesia’s losses are decreasing with a proven monetization strategy. The costs base remains flat, and a positive monthly EBITDA is expected by the end of 2019, along with the positive cash flow in early 2020.

The ASEAN market continues to build momentum, with ICQ leading Used Car transactions being 3.6 million in 2016, 3.8 million in 2017, reaching 4.2 million in 2018 for Malaysia, Thailand and Indonesia. The Used Car core proposition addressed more of the value chain and scaled up the transactional auction services.

The New Car Marketplace noted the car transactions of 2.4 million in 2016, 2.5 million in 2017, reaching 2.8 million in 2018 for Malaysia, Thailand and Indonesia. The New Car is expanding its proposition to service the whole value chain.

On technology and data front, the platform had been launched and is integrating all professional products into a single solution. A single suite of Automotive Professional Products is coming soon.

The stock of the company, by the end of the trading session, stood at A$0.120 (as on 11 March 2019), up by 4.348% from its previous close. It has a market capitalization of A$44.2 million, with circa 384.37 million shares outstanding.


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