Cazoo SPAC Presentation Deck
Clear pathway to significant revenues growth and strong profitability
Dec YE financials [£m]
Revenue
% YOY
Gross profit
Gross Margin
SG&A as % of revenue
Distribution
Marketing
Overhead
Operating profit
Operating Margin
EBITDA
EBITDA Margin
Capex (excl. M&A)
Free Cash Flow
(1)
2020E
162
n/a
[3]
[2%]
(53%)
(11%)
[22%]
(20%)
[88]
(54%)
[81]
(50%)
(20)
(101)
2021F
698
331%
44
6%
(29%)
[6%]
(8%)
(15%)
[156]
[22%)
[138]
(20%)
[41]
(178)
2022F
2,072
197%
159
8%
(17%)
(4%)
(5%)
(8%)
[186]
(9%)
[149]
(7%)
[53]
[202]
2023F
3,957
91%
401
10%
(13%)
(4%)
(3%)
(5%)
[100]
(3%)
[42]
(1%)
[43]
[85]
2024F
5,883
49%
746
13%
(11%)
(4%)
[3%)
(5%)
83
1%
160
3%
[68]
92
Note: 2020 financial information and data is unaudited based on draft statutory accounts, and subject to change. Forward-looking projections are for illustrative purposes and should not be relied upon as being necessarily
indicative of future results. [1] Free cash flow defined as EBITDA minus capex [excl. M&A). Metrics that are considered non-IFRS financial measures such as EBITDA, EBITDA margin and free cash flow are presented on a non-
IFRS basis without reconciliations of such forward-looking non-IFRS measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. EBITDA and Operating
profit are stated before share-based payment charges and exceptional items.
CAZOO Investor Presentation - March 2021
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