Investor Presentaiton
Regional Operations
On a regional level, GB Auto distributes CBU units of Hyundai passenger cars in Iraq; Bajaj
motorcycles & three-wheelers in Iraq; and operates after-sales service centers in Iraq.
However, GB Auto will discontinue its representation of Hyundai in Iraq in 2020.
•
Regional Operations
Regional operations witnessed a revenue decline of 5.7% y-o-y in 1Q20 to LE 1.494.6
million on the back of a drop in PC volumes. The decline was largely due to the
complete lockdown in Iraq which was enforced in early March and April, effectively
bringing sales activities to a halt.
After discontinuing its representation of Hyundai, GB Auto successfully secured new
representation with MG, a reputable British brand under Chinese ownership.
Hyundai Passenger Cars in Iraq
HYUNDAI
Iraq
Passenger Cars
•
Iraq PC Operations reported a 5.4% y-o-y decline in PC volumes in 1Q20, settling in at
4,016 units.
Management pressed on with the liquidation of the remaining Hyundai inventory with
the anticipated rollout of the MG brand towards the end of the year.
Two- and Three-Wheelers
Volumes recorded a solid 30.9% y-o-y increase in 1Q20 to 30,661 units, with average
sales per month increasing to 2,951 units/month in 1Q20 compared to 2,254.0
units/month in 1Q19.
Two & Three-Wheelers in Iraq
Regional Performance
1Q19
1Q20
% Change
BAJAJ
Total Regions Revenues
(LE million)
1,585.3
1,494.6
-5.7%
Total Regions
Gross Profit
(LE million)
125.3
151.3
20.8%
Motorcycles
Gross Margin
(%)
Three-Wheelers
7.9%
10.1%
2.2
INVESTOR PRESENTATION | FIRST QUARTER 2020
TUCSON
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