Page 1

ANNUAL

REPORT 2017


Table of contents Introduction.............................................................................................................. 5 Our mission............................................................................................................... 6 Our vision.................................................................................................................. 7

1

CarsOnTheWeb in 2017...................................................................................... 8

1.1 Milestones............................................................................................................................................10

1.2 Key figures...........................................................................................................................................12

1.3 Organisational chart..........................................................................................................................15

1.3.1 Group structure.........................................................................................................................16

1.3.2 Ecadis nv, Belgium & Budapest...............................................................................................18

1.3.3 Germany....................................................................................................................................20

1.3.4 France........................................................................................................................................22

1.3.5 Italy.............................................................................................................................................24

1.3.6 The Netherlands........................................................................................................................26

2

One team.......................................................................................................... 28

2.1 Buyer Development...........................................................................................................................30

2.2 Operations...........................................................................................................................................34

2.3 Auction................................................................................................................................................36

2.4 Seller Development............................................................................................................................38

2.5 Finance and Audit..............................................................................................................................40

2.6 IT............................................................................................................................................................41

2.7 Human Resources...............................................................................................................................42

3

Eye on the horizon............................................................................................ 44

3.1 Epilogue: What’s next?......................................................................................................................47

3.2 New building.......................................................................................................................................48

3


4


Introduction " The year 2017 was a particularly good one for CarsOnTheWeb. It is fair to say that this company is really flying."

With 42.000 cars sold, it was – again – a record breaking year. The new strategy that was launched 1,5 years ago, works. The important investments in high-quality staff, ICT solutions, Business Intelligence projects and increased service offerings for our customers are starting to pay off. More than ever we are focusing on offering the best sellable used cars to a growing customer portfolio. The above-mentioned investments have significantly improved the accessibility, the service level and the flawless operations of the company. This  did not only result in record breaking sales volumes but also in improved cycle times and – most importantly – in a  satisfied buyer group (illustrated by a net promoter score of 48).

I am convinced that we are well-armed to further develop our business and to take the next step in realising our mission and vision: CarsOnTheWeb aims to be one of Europe’s top 3 remarketing auction sites and the number 1 partner in exporting to Europe and beyond. On the road to reaching our goal of selling more than 100.000 cars in 2021, we will sell close to 70.000 vehicles in 2018.

Johan Meyssen

CarsOnTheWeb Group

5


Our mission

“CarsOnTheWeb is an online auction website for the car trade. We sell the latest used cars for the fairest price. We are unique in exporting across every border in Europe.” Today, we have a clear mission. Our story started in 2004, driven by a passion for cars and a healthy dose of entrepreneurship. In subsequent years our company kept on growing and evolving. In  2017, we sold 42.000 cars.

We know what our core values and competencies are. We openly express our ambition in our tagline:

"We sell the best cars on the web".

6


Our vision “CarsOnTheWeb aims to be one of Europe’s top 3 remarketing auction sites and the number 1 partner in exporting to Europe and beyond.” Our company’s challenge is to grow even

We are convinced that we can and will

more rapidly than before and to stay

reach this goal, if – and only if – we ALL

competitive in a continuously changing

work together to service our customers.

market. By 2020-2021 we want to reach the

Each of us will play an important role in

threshold of 100.000

achieving our ambition and making the

cars sold.

company grow. With this in mind, we have determined our

company values.

PROXIMITY

INTEGRITY

AMBITION

Whether you are a seller, buyer, partner, supplier or employee, YOU matter

Acting in a trustworthy, respectful and ethical manner, and taking responsibility

In order to grow COTW, we help YOU to grow

NEUTRALITY

OWNERSHIP

We are a neutral facilitator between seller & buyer

Get the job done, take your responsibility

Sold cars

100.000

40.000 30.000

28.033

26.303

24.959

2012

2013

32.576

35.371

42.000

19.143 20.000 10.000

6.431 2007

10.007

10.153

10.574

2008

2009

2010

2011

2014

2015

2016

2017

2020 2021 7


1

8

CarsOnTheWeb in 2017


9


1.1

Milestones

Timely

Fair

Responsive

COMPLAINT

HANDLING Customer -friendly

Claudia Ruzzi

10

Richard Buss


Pieter Behets

11


1.2

Key figures

BUYER ACQUISITION FUNNEL

62%

8.094

57%

16%

Validated

Login

NEW REGISTRANTS

44%

Placed at least 1 bid

WEB TRAFFIC

SELLER TYPES

50%

Traders & dealers

26%

0%

-7%

6.773.899

VISITS

1.539.093

Unique visitors

Fleet owners

8% C2B

-1%

8%

1%

4%

18%

Leasing companies

Other

12

55%

Desktop

45%

Mobile & tablet

39% 41%


89% SATISFIED CUSTOMERS

GLOBAL FIGURES

303.886

9%

Cars offered on our platform

42.000

19%

Cars sold

8.300 CUSTOMER SATISFACTION SCORE

48 •

NPS

2%

Active bidders

39.744

18%

1.516

17%

Registered customers

Business Partners (sellers)

Net Promoter Score

8,3/10

Average score

89%

Scores 7 or more

HR ONE TEAM • 135 Employees • 25 Nationalities • 62% Men • 38% Women

13


Cars sold in 2017

>4 4.000 4.0 .000 .0 > 3.000 > 1.000 > 500 < 500

14


1.3

Organisational chart

Our board (left to right): Evert Jan de Groot, Steven Lismont, Raymond Kuijten, René van der Wiel, Jean-Paul Teyssen

Board members

René van der Wiel (Vortex CP – Chairman) Evert Jan de Groot (Vortex CP) Steven Lismont (Founder COTW, legally represented by Cafimo NV) Raymond Kuijten (ABN AMRO Participaties) Jean-Paul Teyssen (Former CEO Carglass, legally represented by Aguilas BVBA)

Management

CEO: Johan Meyssen COO: Jan Van Orshoven CBO: Pieter Behets CCO: Gino Vleminckx CIO: Wim Deboel CFO: Peter Suy HRM: Claudia Ruzzi

Country management

Belgium: Lars Agten Germany: Patrick Schröder France: Pieter Behets* Italy: Fabio Lucchetta The Netherlands: Richard Buss Spain: Jan Van Orshoven* *Acting Country Manager

15


1.3.1

16

Group structure

16


All operational companies of the group fall under the Belgian holding company Ecadis nv.

Ecadis nv 62 employees

COTW Belgium

25

employees

COTW Germany

19

employees

COTW France

5

employees

COTW Italy

10

employees

COTW

The Netherlands

COTW Spain

11

employees

17


1.3.2

a Ec

n dis

Ecadis nv, Belgium & Budapest

v

Ecadis nv CEO

PA to the CEO

CBO

Country Managers

CCO

CFO

CIO

COO

Marketing & Communication

Finance

Development

Administration

HR

CRM

Audit

Service Desk

Transport

Fleet Management

Business Intelligence

18

HRM


Bu da

p

es to

f fic e

COTW

Bel

giu m

Country Manager

Team Leader Auction

Team Leader Experts

Team Leader Trading

Sales Manager

Auction Officers

Car Experts

Trading Officers

Account Manager

Sales Facilitator

Sales Executives

19


1.3.3

Germany

Management Assistant / HR

Administration & Lean Management

20

Support Admin

Logistics & Assignment

Accounting

Sales Development

Senior Consultant


Country Manager

Sales Manager

Inspectors

Operations Manager

Trading Officer

Pre-Auction Officers

Auction Officers

Trainee

21


1.3.4

22

France


Country Manager

Team Leader Auction

Finance & Admin. Specialist

Operations Specialist

Car Expert

23


1.3.5

24

Italy


Country Manager

Operations Manager

Sales Executive

Auction Specialists

Sales Administration

Trading

Logistics

Administration

25


1.3.6

26

The Netherlands


Country Manager

Operations Manager

Operations Specialists

Finance / HR

Auction Manager

Sales Executive

Auction Specialists

Auction Expert / IT 27


2

28

One team


29


2.1

Buyer Development

• B  e customer-friendly, respect buyers • Educate buyers well • F ollow-up closely on buyers (claims, overdues, payments, CMRs, car docs)

NEW BUYERS 2016 – 1.810 2017 – 2.254

• Expand our customer base

 25%

• Inform buyers adequately • Grow our brand awareness • E  nsure the COTW brand is well-positioned

Ad hoc traders 10% One man traders 19%

CRM speaks 17 languages: AR, CS, DE, EN, ES, FR, HR, HU, IT, LT, LV, NL, PL, PT, RO, RU, SK.

30

Cars bought per buyer persona

Brokers 41%

Car traders 30%

Commercial calls


Net Promoter Score (NPS) We inquire about our buyers’ satisfaction

To calculate the customer satisfaction, we

after each purchase. Through this, we

use the Net Promoter Score. It’s a range from

determine how likely it is that they would

-100 to +100. An average score above 50 is

recommend COTW to others.

excellent. With a result of 48, CarsOnTheWeb scores very well.

NPS based on selling country:

group

45

54

49

46

49

48

11%

• N  et Promoter Score: 48 • A  verage score: 8,3/10

NPS

30%

Customers scoring 9-10

59%

• C  ustomers scoring 7 or more: 89%

Claims

Customers scoring 7-8 Customers scoring 6 or less

Other Wrong information 7%

Missing equipment

8%

Body damage 16%

48%

22%

Technical damage 31


Web traffic Top visitors 31%

10%

8%

7%

6%

Mobile & tablet

Desktop

45%

Sessions

55%

Social Paid search

Display

E-mails Organic search

8% Referral

15%

Channels

39%

New visitors

32% 22%

Direct

Visitors 78% Returning visitors

32

Unique visitors

1.539.093

Average pages per visit

9,5

Total visits

6.773.899

Average session duration

11:17 min


Online brand awareness We increased awareness for CarsOnTheWeb through advertising on Google for RO/PL/HU. Our ads were seen

66.5 M times in Google.

Google search results ranking: 0 5

6 11 15

10

15 14

20 16 25 21

MAR/17

DEC/17 RO

PL

HU

PR In December, we started working with Meltwater. This PR-tool consists of 3 main pillars:

Top 5 of COTW publishers:

• Journalist databases per country

• Autohaus Online

• E-mail tool to send targeted releases

• Fleet Europe

• Press tracking both on COTW and competition

• GW Trends Online

• Automotive Management

• Automobielmanagement.nl

Social media

• Impressions: 1.421.599 • New followers: 616 • Total followers: 2.240 • Number of posts: 81

• Impressions: 70.732 • New followers: 810 • Total followers: 1.048 • Number of posts: 52

• Impressions: 96.150 • New followers: 27 • Total followers: 629 • Number of posts: 64

• Videos: 74 • Views: 15.584 • New subscriptions: 21 • Total subscriptions: 89

33


2.2

Operations

Transport • Ensure hassle-free logistics, competitive prices and strong service levels • Optimise logistics • Provide status updates and Estimated Time of Arrival

24.313 Deliveries

129

Different routes

> 31.000.000 Total driven km’s

Selling country

group

Local delivery

(at the customer’s address)

2.081

742

286

467

1.199

4.525

Transport to HUB’s*

9.468

2.930

1.220

1.393

4.619

19.788

9

2

2

5

3

24

5.987

2.027

913

898

3.094

12.992

No of transport companies Transport on time

34

* HUB = centrally located delivery and pick-up location.


Administration • Ensure a fast & error-free document delivery • Inform customers of delayed document shipping

2016

• Proactively inform customers about deviations

Docs in Docs out

2017

35.733 40.157 34.693 40.039

• Remind sellers about the importance of quickly providing all the required documents

In

Out

Sum 7701

8000

6870

7000

6050 5216

6801

6706

3338

3458

7321 6517

7427

6856

6711

5775

6000 5000 4000

2656

3043

3000

3007

3492 2960 3378

3463 2815

2560 2000

3325

3881

4071 3436

3248

3192

3440

3420

JUN

JUL

AUG

SEP

3817 3383

3630

3610

OCT

NOV

3328

1000

JAN

FEB

MAR

APR

MAY

DEC

35


2.3

Auction

• S elect attractive sellable used cars • Skip poorly described cars • A  pply appropriate auction tactics (type, time, animation, description, start prices, etc.) • D  etermine an accurate requested sales price (RSP) • O  nly transfer relevant highest bids. Get seller feedback on assignment asap

week record 933 cars assigned 10/2017

36


BELGIUM Assigned cars

48%

Cars in auction

27%

16%

Cars in auction

17%

7%

Cars in auction

15%

10%

Cars in auction

14%

Cars in auction

21%

GERMANY Assigned cars

FRANCE Assigned cars

ITALY Assigned cars

THE NETHERLANDS Assigned cars

19%

37


2.4

Seller Development

• Diversify our seller base. The more unique sellers we have, the more attractive we are to our buyers • Work with good sellers and avoid bad sellers • Make clear working agreements (car info, pictures, assignment delay, car release and documents) • Automate car intake as much as possible

group

New sellers Existing sellers

38

469

90

9

39

85

692

1.059

169

32

67

185

1.512


The voice of our customers “A partner that lives up to its promise to take every concern out of our hands” The Facility Services Agency helps the Flemish government manage its fleet. They cooperate exclusively with CarsOnTheWeb.

“We’ve found CarsOnTheWeb to be a professional and flexible partner, who takes concerns out of our hands by acting both quickly and reliably. This leaves the agency with more time for its core tasks, more profitable auctions and greater peace of mind.” Jelle De Ketelbutter, Fleet manager

“CarsOnTheWeb drives a perfect lap for BESIX” Construction and real estate player BESIX relies on CarsOnTheWeb to sell its used construction vehicles.

“We particularly appreciate the transparent procedures, short turnaround and competitive bids. Thanks to the extensive buyer network, vehicles are sold without a fuss for the best price. This saves BESIX both time and money.” Christophe Dockx, Fleet Supervisor

“CarsOnTheWeb does everything officially and professionally – a must for COLAS Belgium” Road construction company COLAS Belgium enjoys the professional cooperation with CarsOnTheWeb, which it views as a solid partner.

“Colas is enthusiastic about the speed, service and ethical procedure. In addition, the very flexible Account managers give the online platform a human touch.” Juliano Berti, Fleet Coordinator

“CarsOnTheWeb: efficiency, speed and reliability” Klinkenberg, a Belgian energy supplier, uses CarsOnTheWeb for the sale of its decommissioned fleet vehicles.

“CarsOnTheWeb has ensured we don’t lose time on selling vehicles. They look after everything: inspection, promotion and at our request, they even take care of removing the stickers from our vehicles! This saves even more precious time.” Eric Lavoine, Warehouse Manager 39


2.5

Finance and Audit

• P  ay sellers quickly, so cars can be released faster • Regularly check buyer payments • Approve CMRs as fast as possible • M  aintain a balance between compliance and business • Regularly pay out claims

40


2.6

IT

• E  nsure a fast and user-friendly website • E  nsure availability by continuous monitoring • E  nsure the reliability of new solutions through thorough testing • S tay ahead of the competition by offering innovative solutions • E  nsure smooth customer contacts by providing the necessary tools (CRM system, phone, e-mail etc.)

RELEASES: JANUARY

Views

FEBRUARY

Very Important Information

MARCH

Pilot for Ultimo & Price Barometer

APRIL

Pilot for browser notifications

JUNE

New HUB at Genk, Intaker V2

JULY

Ultimo

AUGUST

Pilot for Optimo Fin, BidApp

SEPTEMBER

Price promotions

OCTOBER

Mandrill for transactional e-mails

NOVEMBER

Mobile app, start of Salesforce

DECEMBER

ICT Security Policy and Guidelines

41


2.7

Human Resources

• H  ire staff in line with our core values • T rain staff to ensure an excellent customer experience • C  reate a company culture that puts the customer and the employee first

135 EMPLOYEES 25 different countries 24 languages

• Increased headcount group: 20 employees. • Job mobility within COTW: 10 people changed function or got a promotion.

42


BELGIUM 87 Employees 55 Men 32 Women

63% Men 37% Women

GERMANY 19 Employees 11 Men 8 Women

58% Men 42% Women

FRANCE 5 Employees 4 Men 1 Woman

80% Men 20% Women

ITALY 10 Employees 7 Men 3 Women

70% Men 30% Women

THE NETHERLANDS 11 Employees 6 Men 5 Women

55% Men 45% Women

135 Employees 84 Men 51 Women

62% Men 38% Women 43


3

44

Eye on the horizon


45


46


3.1

Epilogue: What’s next?

" The year 2017 may have been a particularly good one, the year 2018 is looking to be even more promising!" On the road to reaching our goal of selling more than 100.000 cars in 2021 and close to 70.000 in 2018, we started preparing our very first acquisition: GWListe! The takeover of the German network for the car trade will not only boost sales volumes but will also bring additional sourcing channels in 2018. More cars on our platform also means a  need to increase the buying power. To this end, we will continue investing in the expansion of our Budapest office.

We will continue improving our processes to make buying and selling at CarsOnTheWeb easy, fast and hassle-free. The introduction of Salesforce will be key to achieve this goal. Finally, we will expand the HQ office building in Tienen to support the strategic growth of our company. The construction is scheduled to start in April 2018 and should be finished by the end of 2018.

To help us match supply and demand, we will further roll out Business Intelligence projects. Johan Meyssen CarsOnTheWeb Group

47


3.2

New building

100.000

42.000 2017 48

2020-2021

CarsOnTheWeb - Annual report 2017  
CarsOnTheWeb - Annual report 2017