PR Newswire | Feb 4, 2021 07:08AM EST

02/04 06:07 CST

Group 1 Automotive Announces Fourth Quarter and Full Year 2020 Financial ResultsCost Control Discipline & Gross Profit Growth in New & Used Vehicles Deliver Strong Profits HOUSTON, Feb. 4, 2021

HOUSTON, Feb. 4, 2021 /PRNewswire/ -- Group 1 Automotive, Inc.(NYSE: GPI), ("Group 1" or the "Company"), an international, Fortune 500 automotive retailer, today reported fourth quarter and full year 2020 financial results. Fourth quarter 2020 net income per diluted share was $5.43, a 111.2 percent increase from $2.57 per diluted share as reported for fourth quarter 2019. Fourth quarter 2020 adjusted net income per diluted share (a non-GAAP measure) was $5.66, an 88.0 percent increase from $3.01 per diluted share as reported for fourth quarter 2019.

Full year 2020 net income per diluted share was $15.51, a 66.0 percent increase from $9.34 per diluted share as reported for full year 2019. Full year 2020 adjusted net income per diluted share (a non-GAAP measure) was $18.06, a 65.2 percent increase from $10.93 as reported for full year 2019.

As shown in the attached non-GAAP reconciliation tables, adjusted net income and diluted earnings per share excluded net after-tax adjustments of $4.3 million, or $0.23 per share, for fourth quarter 2020; $8.2 million, or $0.44 per share, for fourth quarter 2019; $47.1 million, or $2.55 per share, for full year 2020; and $29.6 million, or $1.59 per share, for full year 2019. The after-tax adjustments in all periods primarily related to non-cash asset impairments. Full year 2020 adjustments also included losses on debt extinguishment and an out-of-period adjustment to accelerate stock-based compensation expense for retirement of eligible employees. Full year 2019 adjustments primarily included non-cash impairments and costs related to catastrophic weather events.

As of December 31, 2020, the Company's total cash liquidity was $263.7 million. There was also $284.2 million of borrowing capacity on the Company's U.S. syndicated acquisition line, bringing total immediate liquidity to $547.9 million at the end of 2020. During 2020, the Company generated $805.4 million of operating cash flow ($503.7 million of adjusted operating cash flow), which was partially used to reduce non-floorplan debt by $196.2 million. Additionally, the Company's U.S. credit facility rent-adjusted leverage ratio was reduced to 2.3 times at the end of the year, down from 3.3 times at the end of 2019.

"Our strong fourth quarter results were highlighted by a further recovery in our U.S. revenue to last year's levels while maintaining outstanding cost discipline across the company. The effective reengineering of our processes throughout this year culminated in massive productivity improvements in our U.S. and U.K. businesses," said Earl J. Hesterberg, Group 1's President and Chief Executive Officer. "In the fourth quarter, we realized more than a 25-percent improvement in our U.S. technician productivity and more than a 33-percent increase in our salesperson productivity. In a similar fashion, major cost structure improvements in the U.K. throughout 2020 enabled us to remain profitable there every month of the quarter despite our showrooms being closed for 41 of 92 days due to COVID lockdowns. We expect long-term benefits from these cost improvements as the market recovers in 2021."

Consolidated Results for Fourth Quarter 2020(year-over-year comparable basis)

For ease of comparison, we have included constant currency metrics (a non-GAAP measure) both below (shown in parenthesis) and in the financial tables that follow:

* Total revenue decreased 3.9 percent (-3.6 percent), to $3.0 billion. * Total gross profit increased 3.7 percent (4.1 percent), to $481.7 million. * New vehicle revenues decreased 5.1 percent (-4.6 percent) on an 11.5 percent decrease in unit sales. * Retail used vehicle revenues decreased 2.5 percent (-2.5 percent) on 10.9 percent lower unit sales. * Parts and service gross profit decreased 3.8 percent (-3.6 percent) on a revenue decrease of 4.8 percent (-4.4 percent). * Finance and Insurance (F&I) gross profit per retail unit (PRU) increased 12.3 percent (12.5 percent), to $1,772. * Selling, General and Administrative (SG&A) expenses as a percent of gross profit decreased 1,080 basis points, to 61.9 percent. Adjusted SG&A as a percent of gross profit decreased 930 basis points, to 63.6 percent.

Consolidated Results for Full Year 2020(year-over-year comparable basis)

For ease of comparison, we have included constant currency metrics (a non-GAAP measure) both below (shown in parenthesis) and in the financial tables that follow:

* Total revenue decreased 9.9 percent (-9.4 percent), to $10.9 billion. * Total gross profit decreased 2.6 percent (-2.2 percent), to $1.8 billion. * New vehicle gross profit increased 9.9 percent (10.9 percent) on a revenue decrease of 11.6 percent (-11.0 percent). The Company retailed 140,221 new vehicles in 2020, which represented a 17.1 percent decrease in new vehicle unit sales from 2019, reflecting the pandemic's significant impact on inventory. * Retail used vehicle gross profit increased 3.7 percent (4.0 percent) on a revenue decrease of 7.8 percent (-7.6 percent). The Company retailed 140,118 used vehicles in 2020, which represented an 11.6 percent decrease over used vehicle unit sales from 2019. * Parts and service gross profit decreased 7.9 percent (-7.5 percent) on a revenue decrease of 8.0 percent (-7.5 percent). * Finance and Insurance (F&I) gross profit per retail unit (PRU) increased 9.9 percent (10.1 percent), to $1,669. Same Store Finance and Insurance (F&I) gross profit per retail unit (PRU) increased 10.3 percent (10.6 percent), to $1,685. * Selling, General and Administrative (SG&A) expenses as a percent of gross profit decreased 870 basis points, to 66.1 percent. Adjusted SG&A as a percent of gross profit decreased 810 basis points, to 65.8 percent. Same Store adjusted SG&A as a percent of gross profit decreased 800 basis points, to 65.5 percent. * Operating margin grew 150 basis points, to 4.5 percent. Adjusted operating margin grew 150 basis points, to 4.9 percent. Same Store adjusted operating margin increased 150 basis points, to 4.9 percent.

Segment Results for Fourth Quarter 2020(year-over-year comparable basis)

* United States:

The Company's U.S. operations accounted for 80.9 percent of total revenues and 84.1 percent of total gross profit. Total U.S. revenues were flat at $2.4 billion. Total gross profit increased 5.4 percent, to $404.9 million. Same Store U.S. total gross profit increased 5.0 percent, to $401.2 million.

* Same Store new vehicle revenue increased 0.4 percent, with units decreasing 5.6 percent. New vehicle gross profit increased 36.1 percent as gross profit per unit increased $882, a 44.1 percent increase, to $2,883 and more than offset lower volumes. * Same Store total used revenue declined 0.5 percent, with units decreasing 9.9 percent, as inventory shortages hampered sales later in the quarter. Same Store total used gross profit increased 5.5 percent as gross profit per unit increased $154, a 12.5 percent increase, to $1,387, which partially offset the volume decline. * Parts and service revenues decreased 4.8 percent and gross profit decreased by 4.6 percent, to $161.3 million. Same Store parts and service revenues decreased 4.9 percent and gross profits decreased 4.9 percent, to $159.9 million. * F&I revenues increased 2.0 percent, to $116.1 million. F&I gross profit PRU grew $184, to $2,018, or 10.0 percent. Same Store F&I gross profit PRU increased $190, to $2,027, or 10.3 percent. * SG&A expenses as a percent of gross profit decreased 970 basis points, to 59.5 percent. Adjusted SG&A expenses as a percent of gross profit decreased 850 basis points, to 61.0 percent.

"Our excellent U.S. performance was driven by continued cost discipline and a significant focus on margin retention. As the market recovers and supplies improve, those areas of emphasis should achieve continued positive results. Also important to note is the continued growth in (our digital retailing platform) AcceleRide(r)," said Daryl Kenningham, Group 1's President of U.S. and Brazilian Operations. "In 4Q20, we sold 3,500 vehicles through the platform, a 65-percent increase over 4Q19. To continue our focus on omnichannel innovation, we have further enhanced AcceleRide(r) to offer our customers even greater convenience to do business how, when, and where they prefer. We have now integrated customer down payments into the platform, begun the implementation of instant credit decision-making features, established an electronic payment feature utilizing Zelle(r) to provide real time payment to customers selling us their vehicle through AcceleRide(r), and launched the AcceleRide(r) app. We believe our digital retailing process is industry leading, and we will continue making improvements to ensure we are offering our customers a complete digital experience."

* United Kingdom:

The Company's U.K. operations accounted for 16.8 percent of total revenues and 13.7 percent of total gross profit as stringent lockdown orders in the U.K. continued to impact service operations and dealership sales. On a constant currency basis, Same Store total revenues decreased 14.4 percent, to $495.7 million. Same Store total gross profit decreased 2.4 percent, to $64.7 million. Same Store SG&A expenses as a percent of gross profit decreased 1,350 basis points, to 77.2 percent.

"Despite the many challenges of government mandated COVID lockdowns throughout the last nine months of 2020 and ongoing Brexit turmoil, we were able to substantially restructure our U.K. business this year. Even with our showrooms closed for more than 90 days, we were able to generate outstanding profits and establish an efficient cost structure that will serve us well as the U.K. market recovers," commented Hesterberg.

* Brazil:

The Company's Brazilian operations accounted for 2.3 percent of total revenues and 2.2 percent of total gross profit. On a constant currency basis, Same Store total revenues decreased as the market continued to be weakened by various local shelter-in-place orders, closure requirements, and operating hour restrictions. Despite the weak market due to the pandemic, the company focused on cost and managed to reduce Same Store SG&A expenses as a percent of gross profit by 210 basis points, to 76.0 percent.

Share Repurchase Authorization

During the fourth quarter of 2020, the Company repurchased 265,808 shares at an average price per common share of $117.66, for a total of $31.3 million. During 2020, the Company repurchased 863,572 shares at an average price of $92.86, for a total of $80.2 million. The Company has $168.7 million remaining on its Board authorized common stock share repurchase program. Future repurchases may be made from time to time, based on market conditions, legal requirements and other corporate considerations, in the open market or in privately negotiated transactions, and subject to Board approval and covenant restrictions.

Corporate Development

During 2020, the Company disposed of three franchises (Nissan in Mississippi, as well as Buick and GMC in Louisiana) that generated approximately $60 million in trailing-twelve-month revenues. Year-to-date 2021, the Company has disposed of two franchises (Cadillac and Mini) in Texas that generated approximately $40 million in trailing-twelve-month revenues.

Hesterberg added, "In 2020 were able to achieve record profits, a major cost structure overhaul, and a significant reduction in our corporate debt levels. With an expected market recovery in both the U.S. and U.K., we are in a good position to more actively pursue growth via acquisitions, as well as through our core aftersales and used vehicle businesses."

Fourth Quarter 2020 Earnings Conference Call Details

Group 1's senior management will host a conference call today at 10 a.m. ET to discuss the fourth quarter and full year 2020 financial results. The conference call will be simulcast live on the Internet at www.group1auto.com, then click on 'Investor Relations' and then 'Events' or through this link: http://www.group1corp.com/events. A webcast replay will be available for 30 days.

The conference call will also be available live by dialing in 15 minutes prior to the start of the call at:

Domestic: 1-888-317-6003



International:1-412-317-6061



Conference ID:9439159

A telephonic replay will be available following the call through February 18, 2021 by dialing:

Domestic: 1-877-344-7529



International:1-412-317-0088



Replay ID: 10150913

ABOUT GROUP 1 AUTOMOTIVE, INC.Group 1 owns and operates 182 automotive dealerships, 236 franchises, and 49 collision centers in the United States, the United Kingdom and Brazil that offer 31 brands of automobiles. Through its dealerships, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service contracts; provides automotive maintenance and repair services; and sells vehicle parts.

Investors please visit www.group1corp.com, www.group1auto.com, www.group1collision.com, www.acceleride.com, www.facebook.com/group1auto, and www.twitter.com/group1auto, where Group 1 discloses additional information about the Company, its business, and its results of operations.

FORWARD-LOOKING STATEMENTSThis press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements include statements regarding our goals, plans, and business strategy to repurchase shares of Group 1 common stock, our expectations regarding the reinstatement of our quarterly dividend as well as other statements, and may include words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," "foresee," "may" or "will" and similar expressions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) board approval of future dividends, (b) general economic and business conditions, (c) the level of manufacturer incentives, (d) the future regulatory environment, (e) our ability to obtain an inventory of desirable new and used vehicles, (f) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (g) our cost of financing and the availability of credit for consumers, (h) our ability to complete acquisitions and dispositions and the risks associated therewith, (i) foreign exchange controls and currency fluctuations, (j) our ability to retain key personnel, (k) the impacts of COVID-19 on our business, (l) the impacts of any potential global recession, and (m) our ability to maintain sufficient liquidity to operate. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

NON-GAAP FINANCIAL MEASURES, SAME STORE DATA, AND OTHER DATAIn addition to evaluating the financial condition and results of our operations in accordance with U.S. GAAP, from time to time our management evaluates and analyzes results and any impact on the Company of strategic decisions and actions relating to, among other things, cost reduction, growth, profitability improvement initiatives, and other events outside of normal, or "core," business and operations, by considering alternative financial measures not prepared in accordance with U.S. GAAP. In our evaluation of results from time to time, we exclude items that do not arise directly from core operations, such as non-cash asset impairment charges, out-of-period adjustments, legal matters, gains and losses on dealership franchise or real estate transactions, and catastrophic events, such as hailstorms, hurricanes, and snow storms. Because these non-core charges and gains materially affect the Company's financial condition or results in the specific period in which they are recognized, management also evaluates, and makes resource allocation and performance evaluation decisions based on, the related non-GAAP measures excluding such items. This includes evaluating measures such as adjusted selling, general and administrative expenses, adjusted net income, adjusted diluted earnings per share, and constant currency. These adjusted measures are not measures of financial performance under U.S. GAAP, but are instead considered non-GAAP financial performance measures. Non-GAAP measures do not have definitions under U.S. GAAP and may be defined differently by, and not be comparable to similarly titled measures used by, other companies. As a result, any non-GAAP financial measures considered and evaluated by management are reviewed in conjunction with a review of the most directly comparable measures calculated in accordance with U.S. GAAP. We caution investors not to place undue reliance on such non-GAAP measures, but also to consider them with the most directly comparable U.S. GAAP measures.

In addition to using such non-GAAP measures to evaluate results in a specific period, management believes that such measures may provide more complete and consistent comparisons of operational performance on a period-over-period historical basis and a better indication of expected future trends. Our management also uses these adjusted measures in conjunction with U.S. GAAP financial measures to assess our business, including communication with our Board of Directors, investors, and industry analysts concerning financial performance. We disclose these non-GAAP measures, and the related reconciliations, because we believe investors use these metrics in evaluating longer-term period-over-period performance, and to allow investors to better understand and evaluate the information used by management to assess operating performance. The exclusion of certain expenses in the calculation of non-GAAP financial measures should not be construed as an inference that these costs are unusual or infrequent. We anticipate excluding these expenses in the future presentation of our non-GAAP financial measures.

In addition, we evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our underlying business and results of operations, consistent with how we evaluate our performance. We calculate constant currency percentages by converting our current period reported results for entities reporting in currencies other than U.S. dollars using comparative period exchange rates rather than the actual exchange rates in effect during the respective periods. The constant currency performance measures should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with U.S. GAAP. The Same Store amounts presented include the results of dealerships for the identical months in each period presented in comparison, commencing with the first full month in which the dealership was owned by us and, in the case of dispositions, ending with the last full month it was owned by us. Same Store results also include the activities of our corporate headquarters.

Certain amounts in the financial statements may not compute due to rounding. All computations have been calculated using unrounded amounts for all periods presented.

Investor contacts:Sheila RothManager, Investor RelationsGroup 1 Automotive, Inc.713-647-5741 | sroth@group1auto.com

Media contacts:Pete DeLongchampsSenior Vice President, Manufacturer Relations, Financial Services and Public AffairsGroup 1 Automotive, Inc.713-647-5770 | pdelongchamps@group1auto.comorClint WoodsPierpont Communications, Inc.713-627-2223 | cwoods@piercom.com

Group 1 Automotive, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In millions, except per share data)



Three Months Ended December 31,

2020 2019 Increase/ % Change (Decrease)

REVENUES:

New vehicle retail sales $1,595.3 $1,681.9 $(86.6) (5.1) %

Used vehicle retail sales 818.2 838.8 (20.6) (2.5) %

Used vehicle wholesale sales86.2 81.8 4.4 5.4 %

Parts and service sales 361.2 379.2 (18.0) (4.8) %

Finance, insurance and 129.3 129.7 (0.4) (0.3) %other, net

Total revenues 2,990.2 3,111.4 (121.2) (3.9) %

COST OF SALES:

New vehicle retail sales 1,490.7 1,597.6 (106.9) (6.7) %

Used vehicle retail sales 769.0 792.8 (23.8) (3.0) %

Used vehicle wholesale sales84.2 81.5 2.7 3.4 %

Parts and service sales 164.6 174.9 (10.3) (5.9) %

Total cost of sales 2,508.4 2,646.8 (138.3) (5.2) %

GROSS PROFIT 481.7 464.6 17.1 3.7 %

Selling, general and 298.4 338.1 (39.6) (11.7)%administrative expenses

Depreciation and 19.3 18.6 0.7 3.9 %amortization expense

Asset impairments 13.9 11.5 2.4 21.3 %

INCOME (LOSS) FROM 150.1 96.5 53.6 55.5 %OPERATIONS

Floorplan interest expense 8.4 14.6 (6.2) (42.4)%

Other interest expense, net 13.6 19.0 (5.5) (28.7)%

INCOME (LOSS) BEFORE INCOME 128.1 62.9 65.2 103.8 %TAXES

(Benefit) provision for 28.0 14.8 13.2 89.5 %income taxes

NET INCOME (LOSS) $100.1 $48.1 $52.0 108.2 %

Less: Earnings (loss) allocated to participating 3.6 1.7 1.8 104.7 %securities

Net income (loss) available $96.5 $46.3 $50.2 108.3 %to diluted common shares

DILUTED EARNINGS (LOSS) PER $5.43 $2.57 $2.86 111.2 %SHARE

Weighted average dilutive 17.8 18.0 (0.2) (1.4) %common shares outstanding

Weighted average 0.7 0.7 - (3.7) %participating securities

Total weighted average 18.4 18.7 (0.3) (1.5) %shares

Effective tax rate 21.9 %23.5 %(1.6) %

Group 1 Automotive, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In millions, except per share data)



Years Ended December 31,

2020 2019 Increase/ % Change (Decrease)

REVENUES:

New vehicle retail sales $5,580.8 $6,314.1 $(733.3) (11.6)%

Used vehicle retail sales 3,105.7 3,366.6 (261.0) (7.8) %

Used vehicle wholesale sales308.1 355.2 (47.1) (13.3)%

Parts and service sales 1,389.3 1,510.0 (120.7) (8.0) %

Finance, insurance and 467.9 497.9 (29.9) (6.0) %other, net

Total revenues 10,851.8 12,043.8 (1,191.9) (9.9) %

COST OF SALES:

New vehicle retail sales 5,250.4 6,013.3 (762.9) (12.7)%

Used vehicle retail sales 2,896.9 3,165.3 (268.4) (8.5) %

Used vehicle wholesale sales297.1 354.1 (57.1) (16.1)%

Parts and service sales 638.5 695.0 (56.5) (8.1) %

Total cost of sales 9,082.9 10,227.8 (1,144.9) (11.2)%

GROSS PROFIT 1,769.0 1,816.0 (47.0) (2.6) %

Selling, general and 1,169.3 1,358.4 (189.1) (13.9)%administrative expenses

Depreciation and 75.8 71.6 4.2 5.8 %amortization expense

Asset impairments 37.7 22.2 15.5 69.6 %

INCOME (LOSS) FROM 486.1 363.7 122.4 33.6 %OPERATIONS

Floorplan interest expense 39.5 61.6 (22.1) (35.8)%

Other interest expense, net 62.6 74.9 (12.3) (16.5)%

(Gain) loss on 13.7 - 13.7 - %extinguishment of debt

INCOME (LOSS) BEFORE INCOME 370.3 227.3 143.1 62.9 %TAXES

(Benefit) provision for 83.8 53.3 30.6 57.4 %income taxes

NET INCOME (LOSS) $286.5 $174.0 $112.5 64.6 %

Less: Earnings (loss) allocated to participating 10.3 6.4 3.8 59.7 %securities

Net income (loss) available $276.2 $167.6 $108.6 64.8 %to diluted common shares

DILUTED EARNINGS (LOSS) PER $15.51 $9.34 $6.17 66.0 %SHARE

Weighted average dilutive 17.8 17.9 (0.1) (0.7) %common shares outstanding

Weighted average 0.7 0.7 - (4.2) %participating securities

Total weighted average 18.5 18.6 (0.2) (0.8) %shares

Effective tax rate 22.6 %23.4 %(0.8) %

Group 1 Automotive, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In millions)



December December Increase/ % Change 31, 2020 31, 2019 (Decrease)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents $87.3 $23.8 $63.5 267.3 %

Contracts-in-transit and vehicle receivables, net of 211.2 253.8 (42.6) (16.8)%allowance of $0.3 and $0.3, respectively

Accounts and notes receivable, net of allowance of $3.2 and 200.0 225.1 (25.1) (11.2)%$2.8, respectively

Inventories, net 1,468.0 1,901.7 (433.8) (22.8)%

Prepaid expenses 19.4 96.4 (77.0) (79.9)%

Other current assets 18.4 15.5 2.9 18.8 %

TOTAL CURRENT ASSETS 2,004.2 2,516.3 (512.1) (20.4)%

Property and equipment, net of accumulated depreciation of 1,608.2 1,547.1 61.1 4.0 %$460.2 and $400.2, respectively

Operating lease assets 209.9 220.1 (10.2) (4.6) %

Goodwill 997.1 1,008.3 (11.2) (1.1) %

Intangible franchise rights 232.8 253.5 (20.8) (8.2) %

Other long-term assets 37.2 24.8 12.4 50.0 %

TOTAL ASSETS $5,089.4$5,570.2$(480.8)(8.6) %



LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Floorplan notes payable - credit facility and other, net $767.6 $1,144.4$(376.9)(32.9)%of offset account of $160.4 and $106.8, respectively

Floorplan notes payable - manufacturer affiliates, net of327.5 459.9 (132.4) (28.8)%offset account of $16.0 and $4.1, respectively

Current maturities of long-term56.7 59.1 (2.4) (4.1) %debt

Current operating lease 21.5 24.6 (3.2) (12.8)%liabilities

Accounts payable 442.6 527.5 (84.9) (16.1)%

Accrued expenses and other 226.9 206.7 20.2 9.8 %current liabilities

TOTAL CURRENT LIABILITIES 1,842.7 2,422.3 (579.6) (23.9)%

Long-term debt 1,294.7 1,432.1 (137.4) (9.6) %

Long-term operating lease 207.6 210.7 (3.1) (1.5) %liabilities

Deferred income taxes 141.0 145.7 (4.7) (3.2) %

Long-term interest rate swap 40.6 4.4 36.2 823.9 %liabilities

Other long-term liabilities 113.2 99.2 14.0 14.1 %

STOCKHOLDERS' EQUITY:

Common stock 0.3 0.3 - (0.2) %

Additional paid-in capital 308.3 295.3 13.0 4.4 %

Retained earnings 1,817.9 1,542.4 275.4 17.9 %

Accumulated other comprehensive(184.0) (147.0) (37.1) 25.2 %income (loss)

Treasury stock (492.8) (435.3) (57.5) 13.2 %

TOTAL STOCKHOLDERS' EQUITY 1,449.6 1,255.7 193.8 15.4 %

TOTAL LIABILITIES AND $5,089.4$5,570.2$(480.8)(8.6) %STOCKHOLDERS' EQUITY

Group 1 Automotive, Inc.

Additional Information - Consolidated

(Unaudited)



Three Months Ended Years Ended December 31, December 31,

2020 (%) 2019 (%) 2020 (%)2019 (%)

New vehicle unit sales geographic mix

Region Geographic Market

United StatesTexas 40.5 37.8 37.8 36.3

Oklahoma 7.7 6.9 7.5 6.8

California 5.2 5.3 4.9 5.5

Georgia 5.2 4.7 4.7 4.6

Massachusetts 4.8 4.7 4.6 4.7

Florida 2.9 3.1 2.7 2.7

Louisiana 2.3 2.2 2.2 2.4

New Hampshire 1.9 1.8 1.9 1.8

New Jersey 2.2 1.9 1.9 1.8

South Carolina 2.0 1.8 1.8 1.7

New Mexico 1.4 0.8 1.3 0.5

Kansas 1.2 1.2 1.2 1.1

Mississippi 0.7 1.0 1.0 1.1

Alabama 0.7 0.6 0.7 0.7

Maryland 0.6 0.5 0.5 0.5

79.5 74.3 74.9 72.2



InternationalUnited Kingdom 16.3 19.8 21.2 22.2

Brazil 4.3 5.9 3.9 5.6

100.0 100.0 100.0 100.0



New vehicle unit sales brand mix

Toyota/Lexus 26.5 25.1 23.9 24.7

Volkswagen/Audi/Porsche/SEAT/13.2 14.6 14.9 14.1 SKODA

BMW/MINI 11.3 12.0 11.4 12.0

Ford/Lincoln 9.8 9.9 10.5 10.4

Honda/Acura 9.5 10.8 9.3 10.7

Chevrolet/GMC/Buick/Cadillac 8.1 6.8 7.6 6.6

Mercedes-Benz/Smart/Sprinter 4.8 5.4 5.2 5.2

Nissan 4.7 5.3 5.1 5.9

Hyundai/Kia/Genesis 4.3 3.5 4.3 3.7

Chrysler/Dodge/Jeep/RAM 4.4 3.4 4.1 3.4

Jaguar/Land Rover 1.7 1.9 2.1 2.0

Other 1.7 1.3 1.6 1.3

100.0 100.0 100.0 100.0

Group 1 Automotive, Inc.

Reported Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Three Months Ended December 31,

Currency Impact Constant 2020 2019 Increase/ % Change on Currency (Decrease) Current % Change Period Results

Revenues:

New vehicle $1,595.3 $1,681.9 $(86.6) (5.1) %$(8.8)(4.6) %retail sales

Used vehicle 818.2 838.8 (20.6) (2.5) %0.5 (2.5) %retail sales

Used vehicle 86.2 81.8 4.4 5.4 %(0.1) 5.5 %wholesale sales

Total 904.4 920.6 (16.2) (1.8) %0.5 (1.8) %used

Parts and service 361.2 379.2 (18.0) (4.8) %(1.3) (4.4) %sales

F&I, net 129.3 129.7 (0.4) (0.3) %(0.2) (0.2) %

Total $2,990.2 $3,111.4 $(121.2) (3.9) %$(9.9)(3.6) %revenues

Gross profit:

New vehicle $104.6 $84.3 $20.3 24.1 %$(0.9)25.1 %retail sales

Used vehicle 49.2 46.0 3.2 7.0 %(0.1) 7.3 %retail sales

Used vehicle 2.0 0.3 1.7 517.0 %(0.1) 560.0 %wholesale sales

Total 51.2 46.3 4.9 10.6 %(0.3) 11.2 %used

Parts and service 196.6 204.3 (7.7) (3.8) %(0.4) (3.6) %sales

F&I, net 129.3 129.7 (0.4) (0.3) %(0.2) (0.2) %

Total gross $481.7 $464.6 $17.1 3.7 %$(1.8)4.1 %profit

Gross margin:

New vehicle 6.6 %5.0 %1.5 % retail sales

Used vehicle 6.0 %5.5 %0.5 % retail sales

Used vehicle 2.3 %0.4 %1.9 % wholesale sales

Total 5.7 %5.0 %0.6 % used

Parts and service 54.4 %53.9 %0.6 % sales

F&I, net 100.0 %100.0 %- %

Total gross 16.1 %14.9 %1.2 % margin

Units sold:

Retail new vehicles 38,520 43,537 (5,017) (11.5) % sold

Retail used 34,453 38,671 (4,218) (10.9) % vehicles sold

Wholesale used 10,816 12,243 (1,427) (11.7) % vehicles sold

Total 45,269 50,914 (5,645) (11.1) % used

Average sales price per unit sold:

New vehicle $41,415 $38,632 $2,784 7.2 %$(230)7.8 %retail

Used vehicle $23,749 $21,691 $2,058 9.5 %$16 9.4 %retail

Gross profit per unit sold:

New vehicle $2,716 $1,937 $779 40.2 %$(23) 41.4 %retail sales

Used vehicle $1,428 $1,189 $239 20.1 %$(4) 20.5 %retail sales

Used vehicle $187 $27 $160 598.4 %$(13) 647.1 %wholesale sales

Total $1,131 $909 $222 24.4 %$(6) 25.1 %used

F&I PRU $1,772 $1,578 $194 12.3 %$(3) 12.5 %

Other:

SG&A $298.4 $338.1 $(39.6) (11.7) %$(1.3)(11.3) %expenses

Adjusted SG&A $306.5 $338.8 $(32.3) (9.5) %$(1.2)(9.2) %expenses ^ (1)

SG&A as % gross 61.9 %72.8 %(10.8) % profit

Adjusted SG&A as % gross 63.6 %72.9 %(9.3) % profit ^ (1)

Operating 5.0 %3.1 %1.9 % margin %

Adjusted operating 5.2 %3.4 %1.8 % margin % ^ (1)

Pretax 4.3 %2.0 %2.3 % margin %

Adjusted pretax 4.5 %2.4 %2.1 % margin % ^ (1)

Floorplan expense:

Floorplan interest $8.4 $14.6 $(6.2) (42.4) %$- (42.6) %expense

Less: Floorplan 14.3 13.6 0.7 5.3 %- 5.3 %assistance ^ (2)

Net floorplan $(5.8) $1.1 $(6.9) (646.0)%$- (648.7)%expense



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

^(2) Floorplan assistance is included within New vehicle retail Gross profit above and New vehicle retail Cost of sales in our Condensed Consolidated Statements of Operations.

Group 1 Automotive, Inc.

Reported Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Years Ended December 31,

Currency Increase/ Impact onConstant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

New vehicle $5,580.8 $6,314.1 $(733.3) (11.6) %$(37.5)(11.0) %retail sales

Used vehicle 3,105.7 3,366.6 (261.0) (7.8) %(5.8) (7.6) %retail sales

Used vehicle 308.1 355.2 (47.1) (13.3) %(2.3) (12.6) %wholesale sales

Total 3,413.7 3,721.8 (308.1) (8.3) %(8.1) (8.1) %used

Parts and service 1,389.3 1,510.0 (120.7) (8.0) %(7.1) (7.5) %sales

F&I, net 467.9 497.9 (29.9) (6.0) %(1.1) (5.8) %

Total $10,851.8 $12,043.8 $(1,191.9) (9.9) %$(53.8)(9.4) %revenues

Gross profit:

New vehicle $330.5 $300.8 $29.7 9.9 %$(3.1) 10.9 %retail sales

Used vehicle 208.7 201.3 7.4 3.7 %(0.6) 4.0 %retail sales

Used vehicle 11.0 1.0 10.0 991.6 %(0.3) 1,017.5%wholesale sales

Total 219.7 202.3 17.4 8.6 %(0.9) 9.0 %used

Parts and service 750.8 815.0 (64.1) (7.9) %(2.9) (7.5) %sales

F&I, net 467.9 497.9 (29.9) (6.0) %(1.1) (5.8) %

Total gross $1,769.0 $1,816.0 $(47.0) (2.6) %$(7.9) (2.2) %profit

Gross margin:

New vehicle 5.9 %4.8 %1.2 % retail sales

Used vehicle 6.7 %6.0 %0.7 % retail sales

Used vehicle 3.6 %0.3 %3.3 % wholesale sales

Total 6.4 %5.4 %1.0 % used

Parts and service 54.0 %54.0 %0.1 % sales

F&I, net 100.0 %100.0 %- %

Total gross 16.3 %15.1 %1.2 % margin

Units sold:

Retail new vehicles 140,221 169,136 (28,915) (17.1) % sold

Retail used 140,118 158,549 (18,431) (11.6) % vehicles sold

Wholesale used 41,786 51,205 (9,419) (18.4) % vehicles sold

Total 181,904 209,754 (27,850) (13.3) % used

Average sales price per unit sold:

New vehicle $39,800 $37,332 $2,469 6.6 %$(268) 7.3 %retail

Used vehicle $22,165 $21,234 $931 4.4 %$(42) 4.6 %retail

Gross profit per unit sold:

New vehicle $2,357 $1,778 $578 32.5 %$(22) 33.7 %retail sales

Used vehicle $1,490 $1,270 $220 17.3 %$(4) 17.6 %retail sales

Used vehicle $263 $20 $244 1,237.7%$(6) 1,269.3%wholesale sales

Total $1,208 $965 $243 25.2 %$(5) 25.7 %used

F&I PRU $1,669 $1,519 $150 9.9 %$(4) 10.1 %

Other:

SG&A $1,169.3 $1,358.4 $(189.1) (13.9) %$(7.3) (13.4) %expenses

Adjusted SG&A $1,164.7 $1,343.4 $(178.7) (13.3) %$(7.0) (12.8) %expenses ^ (1)

SG&A as % gross 66.1 %74.8 %(8.7) % profit

Adjusted SG&A as % gross 65.8 %74.0 %(8.1) % profit ^ (1)

Operating 4.5 %3.0 %1.5 % margin %

Adjusted operating 4.9 %3.3 %1.5 % margin % ^ (1)

Pretax 3.4 %1.9 %1.5 % margin %

Adjusted pretax 3.9 %2.2 %1.7 % margin % ^ (1)

Floorplan expense:

Floorplan interest $39.5 $61.6 $(22.1) (35.8) %$(0.1) (35.7) %expense

Less: Floorplan 47.3 49.1 (1.8) (3.7) %- (3.7) %assistance ^(2)

Net floorplan $(7.8) $12.4 $(20.2) (162.6)%$(0.1) (162.0)%expense



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

^(2) Floorplan assistance is included within New vehicle retail Gross profit above and New vehicle retail Cost of sales in our Condensed Consolidated Statements of Operations.

Group 1 Automotive, Inc.

Reported Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Three Months Ended December 31,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $1,330.3 $1,319.9 $10.4 0.8 %

Used vehicle retail sales 629.1 632.4 (3.3) (0.5) %

Used vehicle wholesale 47.3 41.5 5.8 14.0 %sales

Total used 676.4 673.9 2.5 0.4 %

Parts and service sales 297.4 312.3 (14.9) (4.8) %

F&I, net 116.1 113.9 2.3 2.0 %

Total revenues $2,420.1 $2,419.9 $0.2 - %

Gross profit:

New vehicle retail sales $88.8 $64.6 $24.2 37.4 %

Used vehicle retail sales 37.1 36.5 0.6 1.6 %

Used vehicle wholesale 1.6 0.1 1.5 1,687.7%sales

Total used 38.6 36.6 2.0 5.6 %

Parts and service sales 161.3 169.2 (7.8) (4.6) %

F&I, net 116.1 113.9 2.3 2.0 %

Total gross profit $404.9 $384.3 $20.7 5.4 %

Gross margin:

New vehicle retail sales 6.7 %4.9 %1.8 %

Used vehicle retail sales 5.9 %5.8 %0.1 %

Used vehicle wholesale 3.3 %0.2 %3.1 % sales

Total used 5.7 %5.4 %0.3 %

Parts and service sales 54.3 %54.2 %0.1 %

F&I, net 100.0 %100.0 %- %

Total gross margin 16.7 %15.9 %0.9 %

Units sold:

Retail new vehicles sold 30,610 32,347 (1,737) (5.4) %

Retail used vehicles sold 26,917 29,717 (2,800) (9.4) %

Wholesale used vehicles 6,307 7,034 (727) (10.3) %sold

Total used 33,224 36,751 (3,527) (9.6) %

Average sales price per unit sold:

New vehicle retail $43,459 $40,804 $2,655 6.5 %

Used vehicle retail $23,371 $21,280 $2,091 9.8 %

Gross profit per unit sold:

New vehicle retail sales $2,901 $1,998 $904 45.2 %

Used vehicle retail sales $1,378 $1,229 $149 12.1 %

Used vehicle wholesale $247 $12 $234 1,893.7%sales

Total used $1,163 $996 $167 16.8 %

F&I PRU $2,018 $1,835 $184 10.0 %

Other:

SG&A expenses $241.0 $266.1 $(25.0) (9.4) %

Adjusted SG&A expenses ^ $246.9 $266.8 $(19.9) (7.5) %(1)

SG&A as % gross profit 59.5 %69.2 %(9.7) %

Adjusted SG&A as % gross 61.0 %69.4 %(8.5) % profit ^(1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Reported Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Years Ended December 31,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $4,406.6 $4,832.2 $(425.6) (8.8) %

Used vehicle retail sales 2,348.5 2,509.9 (161.4) (6.4) %

Used vehicle wholesale 169.4 174.5 (5.0) (2.9) %sales

Total used 2,517.9 2,684.4 (166.5) (6.2) %

Parts and service sales 1,162.6 1,234.4 (71.8) (5.8) %

F&I, net 416.3 433.2 (16.9) (3.9) %

Total revenues $8,503.4 $9,184.2 $(680.8) (7.4) %

Gross profit:

New vehicle retail sales $272.4 $228.8 $43.5 19.0 %

Used vehicle retail sales 162.8 161.7 1.1 0.7 %

Used vehicle wholesale 7.7 2.5 5.2 207.5 %sales

Total used 170.5 164.2 6.3 3.9 %

Parts and service sales 626.8 668.5 (41.8) (6.2) %

F&I, net 416.3 433.2 (16.9) (3.9) %

Total gross profit $1,486.0 $1,494.8 $(8.8) (0.6) %

Gross margin:

New vehicle retail sales 6.2 %4.7 %1.4 %

Used vehicle retail sales 6.9 %6.4 %0.5 %

Used vehicle wholesale 4.6 %1.4 %3.1 % sales

Total used 6.8 %6.1 %0.7 %

Parts and service sales 53.9 %54.2 %(0.2) %

F&I, net 100.0 %100.0 %- %

Total gross margin 17.5 %16.3 %1.2 %

Units sold:

Retail new vehicles sold 105,022 122,096 (17,074) (14.0)%

Retail used vehicles sold 108,411 121,016 (12,605) (10.4)%

Wholesale used vehicles 24,679 28,577 (3,898) (13.6)%sold

Total used 133,090 149,593 (16,503) (11.0)%

Average sales price per unit sold:

New vehicle retail $41,959 $39,577 $2,382 6.0 %

Used vehicle retail $21,663 $20,740 $922 4.4 %

Gross profit per unit sold:

New vehicle retail sales $2,593 $1,874 $719 38.4 %

Used vehicle retail sales $1,502 $1,336 $166 12.4 %

Used vehicle wholesale $313 $88 $225 256.0 %sales

Total used $1,281 $1,098 $184 16.7 %

F&I PRU $1,951 $1,782 $169 9.5 %

Other:

SG&A expenses $947.0 $1,075.6 $(128.5) (12.0)%

Adjusted SG&A expenses ^(1)$942.3 $1,061.1 $(118.7) (11.2)%

SG&A as % gross profit 63.7 %72.0 %(8.2) %

Adjusted SG&A as % gross 63.4 %71.0 %(7.6) % profit ^(1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Reported Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Three Months Ended December 31,

Currency Increase/ Impact on Constant 2020 2019 (Decrease)% ChangeCurrent Currency Period % Change Results

Revenues:

New vehicle $221.7 $283.5 $(61.8) (21.8)%$4.7 (23.5)%retail sales

Used vehicle 177.4 184.5 (7.0) (3.8) %4.2 (6.1) %retail sales

Used vehicle 35.8 35.2 0.6 1.6 %0.9 (0.9) %wholesale sales

Total 213.2 219.7 (6.5) (2.9) %5.0 (5.2) %used

Parts and service 55.3 55.4 (0.1) (0.2) %1.4 (2.7) %sales

F&I, net 11.6 13.8 (2.3) (16.3)%0.3 (18.3)%

Total $501.9 $572.5 $(70.6) (12.3)%$11.4 (14.3)%revenues

Gross profit:

New vehicle $12.3 $14.6 $(2.3) (15.8)%$0.2 (17.5)%retail sales

Used vehicle 10.8 8.2 2.6 31.6 %0.2 28.6 %retail sales

Used vehicle 0.1 (0.1) 0.2 251.6 %- 292.4 %wholesale sales

Total 11.0 8.2 2.8 34.6 %0.2 32.0 %used

Parts and service 31.4 29.9 1.5 5.0 %0.8 2.3 %sales

F&I, net 11.6 13.8 (2.3) (16.3)%0.3 (18.3)%

Total gross $66.2 $66.5 $(0.3) (0.4) %$1.5 (2.7) %profit

Gross margin:

New vehicle 5.5 %5.1 %0.4 % retail sales

Used vehicle 6.1 %4.5 %1.6 % retail sales

Used vehicle 0.4 %(0.2) %0.6 % wholesale sales

Total 5.1 %3.7 %1.4 % used

Parts and service 56.7 %54.0 %2.8 % sales

F&I, net 100.0 %100.0 %- %

Total gross 13.2 %11.6 %1.6 % margin

Units sold:

Retail new 6,260 8,626 (2,366) (27.4)% vehicles sold

Retail used 6,926 7,837 (911) (11.6)% vehicles sold

Wholesale used 4,134 4,661 (527) (11.3)% vehicles sold

Total 11,060 12,498 (1,438) (11.5)% used

Average sales price per unit sold:

New vehicle $35,423 $32,871 $2,552 7.8 %$758 5.5 %retail

Used vehicle $25,620 $23,539 $2,082 8.8 %$603 6.3 %retail

Gross profit per unit sold:

New vehicle $1,959 $1,690 $270 16.0 %$38 13.7 %retail sales

Used vehicle $1,566 $1,052 $514 48.9 %$36 45.5 %retail sales

Used vehicle $32 $(18) $50 270.9 %$(8) 317.0 %wholesale sales

Total $992 $653 $340 52.1 %$19 49.1 %used

F&I PRU $878 $840 $38 4.5 %$21 2.0 %

Other:

SG&A $49.4 $61.0 $(11.6) (19.1)%$1.2 (21.0)%expenses

Adjusted SG&A $51.6 $61.0 $(9.4) (15.5)%$1.3 (17.6)%expenses ^(1)

SG&A as % gross 74.6 %91.9 %(17.2) % profit

Adjusted SG&A as % gross 77.9 %91.9 %(13.9) % profit ^ (1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Reported Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Years Ended December 31,

Currency Impact Constant 2020 2019 Increase/ % Changeon Currency (Decrease) Current % Change Period Results

Revenues:

New vehicle $1,021.8 $1,195.1 $(173.2) (14.5)%$3.7 (14.8)%retail sales

Used vehicle 707.2 771.3 (64.1) (8.3) %7.4 (9.3) %retail sales

Used vehicle 126.4 162.3 (36.0) (22.2)%1.2 (22.9)%wholesale sales

Total 833.5 933.7 (100.1) (10.7)%8.5 (11.6)%used

Parts and service 194.8 227.9 (33.1) (14.5)%2.2 (15.5)%sales

F&I, net 46.6 57.0 (10.4) (18.2)%0.3 (18.7)%

Total $2,096.8 $2,413.7 $(316.8) (13.1)%$14.7 (13.7)%revenues

Gross profit:

New vehicle $47.0 $54.2 $(7.2) (13.4)%$- (13.4)%retail sales

Used vehicle 42.1 33.7 8.4 24.9 %0.5 23.4 %retail sales

Used vehicle 2.5 (2.7) 5.2 190.8 %- 191.2 %wholesale sales

Total 44.6 31.0 13.6 43.8 %0.5 42.1 %used

Parts and service 109.9 125.4 (15.5) (12.4)%1.3 (13.4)%sales

F&I, net 46.6 57.0 (10.4) (18.2)%0.3 (18.7)%

Total gross $248.1 $267.7 $(19.6) (7.3) %$2.1 (8.1) %profit

Gross margin:

New vehicle 4.6 %4.5 %0.1 % retail sales

Used vehicle 6.0 %4.4 %1.6 % retail sales

Used vehicle 1.9 %(1.7) %3.6 % wholesale sales

Total 5.3 %3.3 %2.0 % used

Parts and service 56.4 %55.0 %1.4 % sales

F&I, net 100.0 %100.0 %- %

Total gross 11.8 %11.1 %0.7 % margin

Units sold:

Retail new 29,684 37,565 (7,881) (21.0)% vehicles sold

Retail used 29,091 33,121 (4,030) (12.2)% vehicles sold

Wholesale used 15,651 20,694 (5,043) (24.4)% vehicles sold

Total 44,742 53,815 (9,073) (16.9)% used

Average sales price per unit sold:

New vehicle $34,424 $31,814 $2,610 8.2 %$124 7.8 %retail

Used vehicle $24,309 $23,288 $1,021 4.4 %$253 3.3 %retail

Gross profit per unit sold:

New vehicle $1,583 $1,443 $139 9.7 %$2 9.5 %retail sales

Used vehicle $1,448 $1,018 $430 42.2 %$17 40.5 %retail sales

Used vehicle $157 $(131) $288 220.1 %$(1) 220.6 %wholesale sales

Total $997 $576 $420 72.9 %$11 71.0 %used

F&I PRU $793 $806 $(13) (1.6) %$5 (2.3) %

Other:

SG&A $191.2 $236.9 $(45.6) (19.3)%$1.6 (19.9)%expenses

Adjusted SG&A $192.2 $236.4 $(44.2) (18.7)%$1.7 (19.4)%expenses ^(1)

SG&A as % gross 77.1 %88.5 %(11.4) % profit

Adjusted SG&A as % gross 77.5 %88.3 %(10.8) % profit ^ (1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Reported Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Three Months Ended December 31,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % ChangeCurrent Currency Period % Change Results

Revenues:

New vehicle $43.3 $78.5 $(35.2) (44.8)%$(13.6) (27.5)%retail sales

Used vehicle 11.7 22.0 (10.3) (46.7)%(3.6) (30.2)%retail sales

Used vehicle 3.1 5.0 (1.9) (38.4)%(1.0) (19.2)%wholesale sales

Total 14.8 27.0 (12.2) (45.2)%(4.6) (28.2)%used

Parts and service 8.5 11.5 (3.0) (26.1)%(2.7) (3.0) %sales

F&I, net 1.6 2.0 (0.4) (21.2)%(0.5) 3.3 %

Total $68.2 $119.0 $(50.8) (42.7)%$(21.3) (24.8)%revenues

Gross profit:

New vehicle $3.6 $5.1 $(1.6) (30.6)%$(1.1) (8.9) %retail sales

Used vehicle 1.3 1.2 - 4.1 %(0.4) 36.0 %retail sales

Used vehicle 0.3 0.3 - 2.2 %(0.1) 34.6 %wholesale sales

Total 1.6 1.5 0.1 3.7 %(0.5) 35.7 %used

Parts and service 3.9 5.2 (1.3) (25.8)%(1.2) (2.8) %sales

F&I, net 1.6 2.0 (0.4) (21.2)%(0.5) 3.3 %

Total gross $10.6 $13.9 $(3.3) (23.6)%$(3.3) 0.1 %profit

Gross margin:

New vehicle 8.2 %6.5 %1.7 % retail sales

Used vehicle 10.8 %5.5 %5.3 % retail sales

Used vehicle 10.7 %6.5 %4.3 % wholesale sales

Total 10.8 %5.7 %5.1 % used

Parts and service 45.6 %45.4 %0.2 % sales

F&I, net 100.0 %100.0 %- %

Total gross 15.6 %11.7 %3.9 % margin

Units sold:

Retail new 1,650 2,564 (914) (35.6)% vehicles sold

Retail used 610 1,117 (507) (45.4)% vehicles sold

Wholesale used 375 548 (173) (31.6)% vehicles sold

Total 985 1,665 (680) (40.8)% used

Average sales price per unit sold:

New vehicle $26,235 $30,601 $(4,365) (14.3)%$(8,235)12.6 %retail

Used vehicle $19,186 $19,666 $(480) (2.4) %$(5,943)27.8 %retail

Gross profit per unit sold:

New vehicle $2,160 $2,002 $158 7.9 %$(674) 41.6 %retail sales

Used vehicle $2,073 $1,088 $985 90.6 %$(636) 149.0 %retail sales

Used vehicle $889 $595 $294 49.3 %$(282) 96.7 %wholesale sales

Total $1,622 $926 $697 75.2 %$(501) 129.4 %used

F&I PRU $705 $549 $156 28.3 %$(219) 68.3 %

Other:

SG&A $8.0 $11.0 $(3.0) (27.1)%$(2.5) (4.5) %expenses

SG&A as % gross 75.2 %78.8 %(3.5) % profit

Group 1 Automotive, Inc.

Reported Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Years Ended December 31,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % ChangeCurrent Currency Period % Change Results

Revenues:

New vehicle $152.4 $286.8 $(134.4) (46.9)%$(41.2) (32.5)%retail sales

Used vehicle 50.0 85.4 (35.4) (41.4)%(13.2) (26.0)%retail sales

Used vehicle 12.3 18.3 (6.1) (33.1)%(3.5) (14.2)%wholesale sales

Total 62.3 103.7 (41.5) (40.0)%(16.7) (23.9)%used

Parts and service 31.9 47.6 (15.7) (33.0)%(9.3) (13.5)%sales

F&I, net 5.0 7.6 (2.7) (34.9)%(1.4) (16.6)%

Total $251.6 $445.9 $(194.3) (43.6)%$(68.6) (28.2)%revenues

Gross profit:

New vehicle $11.1 $17.8 $(6.7) (37.5)%$(3.1) (19.8)%retail sales

Used vehicle 3.8 5.9 (2.1) (36.2)%(1.1) (17.3)%retail sales

Used vehicle 0.8 1.2 (0.4) (32.7)%(0.3) (11.9)%wholesale sales

Total 4.6 7.1 (2.5) (35.6)%(1.4) (16.4)%used

Parts and service 14.2 21.0 (6.8) (32.5)%(4.1) (12.8)%sales

F&I, net 5.0 7.6 (2.7) (34.9)%(1.4) (16.6)%

Total gross $34.8 $53.5 $(18.7) (34.9)%$(10.0) (16.2)%profit

Gross margin:

New vehicle 7.3 %6.2 %1.1 % retail sales

Used vehicle 7.5 %6.9 %0.6 % retail sales

Used vehicle 6.6 %6.6 %- % wholesale sales

Total 7.3 %6.8 %0.5 % used

Parts and service 44.5 %44.2 %0.3 % sales

F&I, net 100.0 %100.0 %- %

Total gross 13.9 %12.0 %1.8 % margin

Units sold:

Retail new 5,515 9,475 (3,960) (41.8)% vehicles sold

Retail used 2,616 4,412 (1,796) (40.7)% vehicles sold

Wholesale used 1,456 1,934 (478) (24.7)% vehicles sold

Total 4,072 6,346 (2,274) (35.8)% used

Average sales price per unit sold:

New vehicle $27,639 $30,274 $(2,636) (8.7) %$(7,475)16.0 %retail

Used vehicle $19,120 $19,356 $(236) (1.2) %$(5,041)24.8 %retail

Gross profit per unit sold:

New vehicle $2,012 $1,874 $139 7.4 %$(568) 37.7 %retail sales

Used vehicle $1,438 $1,336 $102 7.6 %$(426) 39.5 %retail sales

Used vehicle $559 $625 $(66) (10.6)%$(172) 17.0 %wholesale sales

Total $1,124 $1,120 $4 0.4 %$(335) 30.3 %used

F&I PRU $612 $551 $61 11.1 %$(172) 42.4 %

Other:

SG&A $31.1 $46.0 $(14.9) (32.4)%$(8.9) (13.0)%expenses

Adjusted SG&A $30.2 $46.0 $(15.8) (34.3)%$(8.7) (15.3)%expenses ^(1)

SG&A as % gross 89.2 %85.8 %3.4 % profit

Adjusted SG&A as % gross 86.7 %85.8 %0.8 % profit ^ (1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Three Months Ended December 31,

Currency Increase/ Impact onConstant 2020 2019 (Decrease) % ChangeCurrent Currency Period % Change Results

Revenues:

New vehicle $1,580.3 $1,672.8 $(92.5) (5.5) %$(8.9) (5.0) %retail sales

Used vehicle 806.8 833.2 (26.4) (3.2) %0.5 (3.2) %retail sales

Used vehicle 85.4 81.4 4.0 5.0 %(0.1) 5.1 %wholesale sales

Total 892.2 914.5 (22.4) (2.4) %0.4 (2.5) %used

Parts and service 356.5 374.0 (17.5) (4.7) %(1.3) (4.3) %sales

F&I, net 128.4 128.9 (0.5) (0.4) %(0.2) (0.3) %

Total $2,957.4 $3,090.3 $(132.9) (4.3) %$(10.0)(4.0) %revenues

Gross profit:

New vehicle $103.3 $84.0 $19.3 23.0 %$(0.9) 24.1 %retail sales

Used vehicle 48.9 45.8 3.1 6.7 %(0.1) 7.0 %retail sales

Used vehicle 2.0 0.4 1.7 450.3 %(0.2) 497.9 %wholesale sales

Total 50.9 46.1 4.8 10.3 %(0.3) 11.0 %used

Parts and service 193.9 201.8 (7.8) (3.9) %(0.4) (3.7) %sales

F&I, net 128.4 128.9 (0.5) (0.4) %(0.2) (0.3) %

Total gross $476.5 $460.8 $15.7 3.4 %$(1.8) 3.8 %profit

Gross margin:

New vehicle 6.5 %5.0 %1.5 % retail sales

Used vehicle 6.1 %5.5 %0.6 % retail sales

Used vehicle 2.4 %0.5 %1.9 % wholesale sales

Total 5.7 %5.0 %0.7 % used

Parts and service 54.4 %53.9 %0.4 % sales

F&I, net 100.0 %100.0 %- %

Total gross 16.1 %14.9 %1.2 % margin

Units sold:

Retail new 38,229 43,318 (5,089) (11.7)% vehicles sold

Retail used 34,063 38,397 (4,334) (11.3)% vehicles sold

Wholesale used 10,737 12,147 (1,410) (11.6)% vehicles sold

Total 44,800 50,544 (5,744) (11.4)% used

Average sales price per unit sold:

New vehicle $41,338 $38,617 $2,721 7.0 %$(232) 7.6 %retail

Used vehicle $23,684 $21,699 $1,986 9.2 %$15 9.1 %retail

Gross profit per unit sold:

New vehicle $2,702 $1,938 $764 39.4 %$(23) 40.6 %retail sales

Used vehicle $1,434 $1,192 $242 20.3 %$(4) 20.6 %retail sales

Used vehicle $191 $31 $160 522.5 %$(17) 576.4 %wholesale sales

Total $1,136 $913 $223 24.4 %$(7) 25.2 %used

F&I PRU $1,776 $1,578 $198 12.6 %$(3) 12.7 %

Other:

SG&A $299.6 $333.0 $(33.4) (10.0)%$(1.3) (9.7) %expenses

Adjusted SG&A $302.3 $333.8 $(31.5) (9.4) %$(1.3) (9.0) %expenses ^(1)

SG&A as % gross 62.9 %72.3 %(9.4) % profit

Adjusted SG&A as % gross 63.4 %72.4 %(9.0) % profit ^ (1)

Operating5.0 %3.2 %1.8 % margin %

Adjusted operating5.2 %3.5 %1.7 % margin % ^(1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation ofthese figures.

Group 1 Automotive, Inc.

Same Store Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Years Ended December 31,

Currency Increase/ Impact onConstant 2020 2019 (Decrease) % ChangeCurrent Currency Period % Change Results

Revenues:

New vehicle $5,463.0 $6,260.6 $(797.7) (12.7)%$(37.0)(12.2)%retail sales

Used vehicle 3,023.6 3,328.2 (304.6) (9.2) %(5.7) (9.0) %retail sales

Used vehicle 299.8 346.4 (46.6) (13.4)%(2.2) (12.8)%wholesale sales

Total 3,323.4 3,674.6 (351.2) (9.6) %(7.9) (9.3) %used

Parts and service 1,356.7 1,483.3 (126.6) (8.5) %(7.2) (8.0) %sales

F&I, net 461.9 494.3 (32.4) (6.6) %(1.1) (6.3) %

Total $10,605.0 $11,912.9 $(1,307.9) (11.0)%$(53.1)(10.5)%revenues

Gross profit:

New vehicle $321.3 $298.7 $22.6 7.6 %$(3.1) 8.6 %retail sales

Used vehicle 203.7 199.9 3.7 1.9 %(0.6) 2.2 %retail sales

Used vehicle 10.9 1.3 9.7 757.1 %(0.3) 777.5 %wholesale sales

Total 214.6 201.2 13.4 6.7 %(0.9) 7.1 %used

Parts and service 732.3 802.1 (69.7) (8.7) %(2.9) (8.3) %sales

F&I, net 461.9 494.3 (32.4) (6.6) %(1.1) (6.3) %

Total gross $1,730.1 $1,796.3 $(66.2) (3.7) %$(7.9) (3.2) %profit

Gross margin:

New vehicle 5.9 %4.8 %1.1 % retail sales

Used vehicle 6.7 %6.0 %0.7 % retail sales

Used vehicle 3.6 %0.4 %3.3 % wholesale sales

Total 6.5 %5.5 %1.0 % used

Parts and service 54.0 %54.1 %(0.1) % sales

F&I, net 100.0 %100.0 %- %

Total gross 16.3 %15.1 %1.2 % margin

Units sold:

Retail new 137,302 167,245 (29,943) (17.9)% vehicles sold

Retail used 136,865 156,539 (19,674) (12.6)% vehicles sold

Wholesale used 40,767 50,282 (9,515) (18.9)% vehicles sold

Total 177,632 206,821 (29,189) (14.1)% used

Average sales price per unit sold:

New vehicle $39,788 $37,434 $2,354 6.3 %$(269) 7.0 %retail

Used vehicle $22,092 $21,261 $830 3.9 %$(41) 4.1 %retail

Gross profit per unit sold:

New vehicle $2,340 $1,786 $554 31.0 %$(22) 32.3 %retail sales

Used vehicle $1,488 $1,277 $211 16.5 %$(4) 16.9 %retail sales

Used vehicle $268 $25 $243 957.2 %$(6) 982.3 %wholesale sales

Total $1,208 $973 $235 24.2 %$(5) 24.7 %used

F&I PRU $1,685 $1,527 $158 10.3 %$(4) 10.6 %

Other:

SG&A $1,143.0 $1,338.9 $(195.9) (14.6)%$(7.2) (14.1)%expenses

Adjusted SG&A $1,133.0 $1,320.3 $(187.3) (14.2)%$(7.0) (13.7)%expenses^ (1)

SG&A as % gross 66.1 %74.5 %(8.5) % profit

Adjusted SG&A as % gross 65.5 %73.5 %(8.0) % profit ^ (1)

Operating4.5 %3.1 %1.5 % margin %

Adjusted operating4.9 %3.4 %1.5 % margin % ^(1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation ofthese figures.

Group 1 Automotive, Inc.

Same Store Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Three Months Ended December 31,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $1,317.4 $1,312.3 $5.1 0.4 %

Used vehicle retail sales 618.8 627.8 (9.0) (1.4) %

Used vehicle wholesale 46.7 41.3 5.4 13.1 %sales

Total used 665.5 669.0 (3.6) (0.5) %

Parts and service sales 295.3 310.7 (15.4) (4.9) %

F&I, net 115.3 113.2 2.2 1.9 %

Total revenues $2,393.5 $2,405.2 $(11.7) (0.5) %

Gross profit:

New vehicle retail sales $87.5 $64.3 $23.2 36.1 %

Used vehicle retail sales 36.8 36.3 0.5 1.4 %

Used vehicle wholesale 1.6 0.1 1.5 1,676.3%sales

Total used 38.4 36.4 2.0 5.5 %

Parts and service sales 159.9 168.2 (8.3) (4.9) %

F&I, net 115.3 113.2 2.2 1.9 %

Total gross profit $401.2 $382.1 $19.0 5.0 %

Gross margin:

New vehicle retail sales 6.6 %4.9 %1.7 %

Used vehicle retail sales 6.0 %5.8 %0.2 %

Used vehicle wholesale 3.4 %0.2 %3.2 % sales

Total used 5.8 %5.4 %0.3 %

Parts and service sales 54.1 %54.1 %- %

F&I, net 100.0 %100.0 %- %

Total gross margin 16.8 %15.9 %0.9 %

Units sold:

Retail new vehicles sold 30,357 32,152 (1,795) (5.6) %

Retail used vehicles sold 26,556 29,465 (2,909) (9.9) %

Wholesale used vehicles 6,241 6,954 (713) (10.3) %sold

Total used 32,797 36,419 (3,622) (9.9) %

Average sales price per unit sold:

New vehicle retail $43,397 $40,817 $2,580 6.3 %

Used vehicle retail $23,302 $21,306 $1,995 9.4 %

Gross profit per unit sold:

New vehicle retail sales $2,883 $2,001 $882 44.1 %

Used vehicle retail sales $1,387 $1,234 $154 12.5 %

Used vehicle wholesale $256 $13 $243 1,879.3%sales

Total used $1,172 $1,000 $171 17.1 %

F&I PRU $2,027 $1,837 $190 10.3 %

Other:

SG&A expenses $241.5 $263.5 $(21.9) (8.3) %

Adjusted SG&A expenses ^(1)$244.3 $264.2 $(19.9) (7.5) %

SG&A as % gross profit 60.2 %68.9 %(8.7) %

Adjusted SG&A as % gross 60.9 %69.1 %(8.2) % profit ^(1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Years Ended December 31,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $4,343.5 $4,806.3 $(462.8) (9.6) %

Used vehicle retail sales 2,299.4 2,489.2 (189.8) (7.6) %

Used vehicle wholesale 167.1 171.5 (4.4) (2.6) %sales

Total used 2,466.5 2,660.7 (194.2) (7.3) %

Parts and service sales 1,145.6 1,225.2 (79.7) (6.5) %

F&I, net 412.8 430.8 (18.0) (4.2) %

Total revenues $8,368.4 $9,123.1 $(754.6) (8.3) %

Gross profit:

New vehicle retail sales $265.5 $227.6 $37.9 16.7 %

Used vehicle retail sales 159.5 160.7 (1.2) (0.7) %

Used vehicle wholesale 7.7 2.5 5.2 204.5 %sales

Total used 167.2 163.2 4.0 2.5 %

Parts and service sales 616.6 663.7 (47.1) (7.1) %

F&I, net 412.8 430.8 (18.0) (4.2) %

Total gross profit $1,462.2 $1,485.3 $(23.1) (1.6) %

Gross margin:

New vehicle retail sales 6.1 %4.7 %1.4 %

Used vehicle retail sales 6.9 %6.5 %0.5 %

Used vehicle wholesale 4.6 %1.5 %3.2 % sales

Total used 6.8 %6.1 %0.6 %

Parts and service sales 53.8 %54.2 %(0.3) %

F&I, net 100.0 %100.0 %- %

Total gross margin 17.5 %16.3 %1.2 %

Units sold:

Retail new vehicles sold 103,790 121,322 (17,532) (14.5)%

Retail used vehicles sold 106,611 119,655 (13,044) (10.9)%

Wholesale used vehicles 24,410 28,113 (3,703) (13.2)%sold

Total used 131,021 147,768 (16,747) (11.3)%

Average sales price per unit sold:

New vehicle retail $41,849 $39,616 $2,233 5.6 %

Used vehicle retail $21,568 $20,803 $765 3.7 %

Gross profit per unit sold:

New vehicle retail sales $2,558 $1,876 $682 36.4 %

Used vehicle retail sales $1,496 $1,343 $153 11.4 %

Used vehicle wholesale $317 $90 $227 250.7 %sales

Total used $1,276 $1,104 $172 15.6 %

F&I PRU $1,962 $1,788 $174 9.8 %

Other:

SG&A expenses $934.6 $1,068.9 $(134.3) (12.6)%

Adjusted SG&A expenses ^(1)$926.8 $1,050.5 $(123.7) (11.8)%

SG&A as % gross profit 63.9 %72.0 %(8.0) %

Adjusted SG&A as % gross 63.4 %70.7 %(7.3) % profit ^(1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Three Months Ended December 31,

Currency Increase/ Impact on Constant 2020 2019 (Decrease)% ChangeCurrent Currency Period % Change Results

Revenues:

New vehicle $219.6 $282.0 $(62.4) (22.1)%$4.7 (23.8)%retail sales

Used vehicle 176.3 183.5 (7.2) (3.9) %4.1 (6.2) %retail sales

Used vehicle 35.6 35.1 0.6 1.6 %0.9 (0.9) %wholesale sales

Total 211.9 218.6 (6.7) (3.1) %5.0 (5.3) %used

Parts and service 52.7 51.8 0.9 1.7 %1.3 (0.8) %sales

F&I, net 11.5 13.7 (2.3) (16.6)%0.3 (18.6)%

Total $495.7 $566.1 $(70.4) (12.4)%$11.3 (14.4)%revenues

Gross profit:

New vehicle $12.2 $14.5 $(2.3) (15.7)%$0.2 (17.4)%retail sales

Used vehicle 10.7 8.2 2.5 30.8 %0.2 27.8 %retail sales

Used vehicle 0.1 - 0.2 369.1 %(0.1) 532.4 %wholesale sales

Total 10.9 8.2 2.7 32.9 %0.2 30.8 %used

Parts and service 30.2 28.3 1.8 6.4 %0.8 3.7 %sales

F&I, net 11.5 13.7 (2.3) (16.6)%0.3 (18.6)%

Total gross $64.7 $64.7 $- (0.1) %$1.5 (2.4) %profit

Gross margin:

New vehicle 5.6 %5.1 %0.4 % retail sales

Used vehicle 6.1 %4.5 %1.6 % retail sales

Used vehicle 0.3 %(0.1) %0.5 % wholesale sales

Total 5.1 %3.7 %1.4 % used

Parts and service 57.2 %54.7 %2.5 % sales

F&I, net 100.0 %100.0 %- %

Total gross 13.1 %11.4 %1.6 % margin

Units sold:

Retail new 6,222 8,602 (2,380) (27.7)% vehicles sold

Retail used 6,897 7,815 (918) (11.7)% vehicles sold

Wholesale used 4,121 4,645 (524) (11.3)% vehicles sold

Total 11,018 12,460 (1,442) (11.6)% used

Average sales price per unit sold:

New vehicle $35,299 $32,785 $2,514 7.7 %$757 5.4 %retail

Used vehicle $25,556 $23,479 $2,077 8.8 %$601 6.3 %retail

Gross profit per unit sold:

New vehicle $1,964 $1,686 $278 16.5 %$38 14.2 %retail sales

Used vehicle $1,559 $1,052 $507 48.2 %$36 44.8 %retail sales

Used vehicle $29 $(9) $38 403.3 %$(17) 587.4 %wholesale sales

Total $986 $656 $330 50.3 %$16 47.9 %used

F&I PRU $873 $836 $37 4.4 %$21 1.9 %

Other:

SG&A $50.0 $58.7 $(8.7) (14.9)%$1.2 (17.0)%expenses

SG&A as % gross 77.2 %90.7 %(13.5) % profit

Group 1 Automotive, Inc.

Same Store Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Years Ended December 31,

Currency Impact Constant 2020 2019 Increase/ % Changeon Currency (Decrease) Current % Change Period Results

Revenues:

New vehicle $967.0 $1,170.3 $(203.2) (17.4)%$4.2 (17.7)%retail sales

Used vehicle 674.2 756.5 (82.3) (10.9)%7.5 (11.9)%retail sales

Used vehicle 120.4 158.7 (38.2) (24.1)%1.2 (24.9)%wholesale sales

Total 794.7 915.1 (120.5) (13.2)%8.7 (14.1)%used

Parts and service 179.3 211.2 (31.9) (15.1)%2.1 (16.1)%sales

F&I, net 44.1 55.9 (11.9) (21.2)%0.3 (21.8)%

Total $1,985.0 $2,352.6 $(367.5) (15.6)%$15.3 (16.3)%revenues

Gross profit:

New vehicle $44.7 $53.3 $(8.7) (16.2)%$0.1 (16.4)%retail sales

Used vehicle 40.4 33.4 7.0 21.1 %0.5 19.6 %retail sales

Used vehicle 2.4 (2.5) 4.8 196.2 %- 196.6 %wholesale sales

Total 42.8 30.9 11.9 38.4 %0.5 36.8 %used

Parts and service 101.5 117.6 (16.1) (13.7)%1.2 (14.7)%sales

F&I, net 44.1 55.9 (11.9) (21.2)%0.3 (21.8)%

Total gross $233.1 $257.8 $(24.8) (9.6) %$2.1 (10.4)%profit

Gross margin:

New vehicle 4.6 %4.6 %0.1 % retail sales

Used vehicle 6.0 %4.4 %1.6 % retail sales

Used vehicle 2.0 %(1.6) %3.5 % wholesale sales

Total 5.4 %3.4 %2.0 % used

Parts and service 56.6 %55.7 %0.9 % sales

F&I, net 100.0 %100.0 %- %

Total gross 11.7 %11.0 %0.8 % margin

Units sold:

Retail new 27,997 36,493 (8,496) (23.3)% vehicles sold

Retail used 27,638 32,550 (4,912) (15.1)% vehicles sold

Wholesale used 14,901 20,302 (5,401) (26.6)% vehicles sold

Total 42,539 52,852 (10,313) (19.5)% used

Average sales price per unit sold:

New vehicle $34,541 $32,069 $2,472 7.7 %$151 7.2 %retail

Used vehicle $24,394 $23,240 $1,154 5.0 %$270 3.8 %retail

Gross profit per unit sold:

New vehicle $1,596 $1,462 $134 9.2 %$3 9.0 %retail sales

Used vehicle $1,462 $1,025 $437 42.6 %$18 40.8 %retail sales

Used vehicle $159 $(121) $280 231.0 %$(1) 231.6 %wholesale sales

Total $1,006 $585 $421 71.9 %$12 69.9 %used

F&I PRU $792 $810 $(18) (2.2) %$6 (2.9) %

Other:

SG&A $177.2 $224.7 $(47.5) (21.1)%$1.7 (21.9)%expenses

Adjusted SG&A $176.0 $224.5 $(48.5) (21.6)%$1.7 (22.4)%expenses ^(1)

SG&A as % gross 76.0 %87.2 %(11.1) % profit

Adjusted SG&A as % gross 75.5 %87.1 %(11.6) % profit ^ (1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Three Months Ended December 31,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % ChangeCurrent Currency Period % Change Results

Revenues:

New vehicle $43.3 $78.5 $(35.2) (44.8)%$(13.6) (27.5)%retail sales

Used vehicle 11.7 21.9 (10.2) (46.5)%(3.6) (30.0)%retail sales

Used vehicle 3.1 5.0 (1.9) (38.4)%(1.0) (19.2)%wholesale sales

Total 14.8 26.9 (12.1) (45.0)%(4.6) (28.0)%used

Parts and service 8.5 11.5 (3.0) (26.1)%(2.7) (3.0) %sales

F&I, net 1.6 2.0 (0.4) (21.2)%(0.5) 3.3 %

Total $68.2 $118.9 $(50.7) (42.7)%$(21.3) (24.7)%revenues

Gross profit:

New vehicle $3.6 $5.1 $(1.6) (30.6)%$(1.1) (8.9) %retail sales

Used vehicle 1.3 1.2 0.1 4.2 %(0.4) 36.2 %retail sales

Used vehicle 0.3 0.3 - 2.2 %(0.1) 34.6 %wholesale sales

Total 1.6 1.5 0.1 3.8 %(0.5) 35.9 %used

Parts and service 3.9 5.2 (1.3) (25.9)%(1.2) (2.8) %sales

F&I, net 1.6 2.0 (0.4) (21.2)%(0.5) 3.3 %

Total gross $10.6 $13.9 $(3.3) (23.6)%$(3.3) 0.1 %profit

Gross margin:

New vehicle 8.2 %6.5 %1.7 % retail sales

Used vehicle 10.8 %5.5 %5.3 % retail sales

Used vehicle 10.7 %6.5 %4.3 % wholesale sales

Total 10.8 %5.7 %5.1 % used

Parts and service 45.6 %45.4 %0.2 % sales

F&I, net 100.0 %100.0 %- %

Total gross 15.6 %11.7 %3.9 % margin

Units sold:

Retail new 1,650 2,564 (914) (35.6)% vehicles sold

Retail used 610 1,117 (507) (45.4)% vehicles sold

Wholesale used 375 548 (173) (31.6)% vehicles sold

Total 985 1,665 (680) (40.8)% used

Average sales price per unit sold:

New vehicle $26,235 $30,601 $(4,365) (14.3)%$(8,235)12.6 %retail

Used vehicle $19,186 $19,599 $(412) (2.1) %$(5,943)28.2 %retail

Gross profit per unit sold:

New vehicle $2,160 $2,002 $158 7.9 %$(674) 41.6 %retail sales

Used vehicle $2,073 $1,086 $987 90.9 %$(636) 149.4 %retail sales

Used vehicle $889 $595 $294 49.3 %$(282) 96.7 %wholesale sales

Total $1,622 $925 $698 75.5 %$(501) 129.6 %used

F&I PRU $705 $549 $156 28.3 %$(219) 68.3 %

Other:

SG&A $8.1 $10.9 $(2.8) (25.7)%$(2.5) (2.7) %expenses

SG&A as % gross 76.0 %78.1 %(2.1) % profit

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Years Ended December 31,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % ChangeCurrent Currency Period % Change Results

Revenues:

New vehicle $152.4 $284.0 $(131.6) (46.3)%$(41.2) (31.8)%retail sales

Used vehicle 50.0 82.6 (32.6) (39.5)%(13.1) (23.5)%retail sales

Used vehicle 12.3 16.2 (4.0) (24.4)%(3.4) (3.2) %wholesale sales

Total 62.3 98.8 (36.5) (37.0)%(16.6) (20.2)%used

Parts and service 31.9 46.9 (15.0) (32.0)%(9.3) (12.1)%sales

F&I, net 5.0 7.6 (2.6) (34.3)%(1.4) (15.8)%

Total $251.6 $437.3 $(185.7) (42.5)%$(68.4) (26.8)%revenues

Gross profit:

New vehicle $11.1 $17.8 $(6.7) (37.5)%$(3.1) (19.9)%retail sales

Used vehicle 3.8 5.9 (2.1) (36.2)%(1.1) (17.2)%retail sales

Used vehicle 0.8 1.2 (0.4) (31.7)%(0.3) (10.7)%wholesale sales

Total 4.6 7.1 (2.5) (35.4)%(1.4) (16.1)%used

Parts and service 14.2 20.7 (6.5) (31.5)%(4.1) (11.6)%sales

F&I, net 5.0 7.6 (2.6) (34.3)%(1.4) (15.8)%

Total gross $34.8 $53.1 $(18.3) (34.4)%$(10.0) (15.6)%profit

Gross margin:

New vehicle 7.3 %6.3 %1.0 % retail sales

Used vehicle 7.5 %7.1 %0.4 % retail sales

Used vehicle 6.6 %7.3 %(0.7) % wholesale sales

Total 7.3 %7.2 %0.2 % used

Parts and service 44.5 %44.2 %0.3 % sales

F&I, net 100.0 %100.0 %- %

Total gross 13.9 %12.2 %1.7 % margin

Units sold:

Retail new 5,515 9,430 (3,915) (41.5)% vehicles sold

Retail used 2,616 4,334 (1,718) (39.6)% vehicles sold

Wholesale used 1,456 1,867 (411) (22.0)% vehicles sold

Total 4,072 6,201 (2,129) (34.3)% used

Average sales price per unit sold:

New vehicle $27,639 $30,118 $(2,480) (8.2) %$(7,467)16.6 %retail

Used vehicle $19,109 $19,051 $59 0.3 %$(5,021)26.7 %retail

Gross profit per unit sold:

New vehicle $2,013 $1,884 $129 6.8 %$(568) 37.0 %retail sales

Used vehicle $1,437 $1,359 $78 5.8 %$(427) 37.2 %retail sales

Used vehicle $559 $638 $(79) (12.4)%$(172) 14.5 %wholesale sales

Total $1,123 $1,142 $(19) (1.6) %$(336) 27.8 %used

F&I PRU $612 $550 $62 11.2 %$(172) 42.5 %

Other:

SG&A $31.1 $45.3 $(14.2) (31.3)%$(8.9) (11.7)%expenses

Adjusted SG&A $30.2 $45.3 $(15.1) (33.3)%$(8.7) (14.1)%expenses ^(1)

SG&A as % gross 89.3 %85.2 %4.0 % profit

Adjusted SG&A as % gross 86.7 %85.2 %1.5 % profit ^ (1)



^(1) See the section in this release titled "Reconciliation of Certain Non-GAAP Financial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Three Months Ended December 31, 2020

Dealership U.S. GAAPand real Legal Asset Non-GAAP estate matters impairmentsadjusted transactions

SG&A expenses $298.4 $5.3 $2.7 $- $306.5

Asset impairments $13.9 $- $- $(13.9) $-

Income (loss) from$150.1 $(5.3) $(2.7) $13.9 $156.0 operations



Income (loss) before income $128.1 $(5.3) $(2.7) $13.9 $134.0 taxes

Less: (Benefit) provision for 28.0 (1.1) (0.6) 3.3 29.6 income taxes

Net income (loss) 100.1 (4.2) (2.1) 10.6 104.4

Less: Earnings (loss) allocated 3.6 (0.1) (0.1) 0.4 3.7 to participating securities

Net income (loss) available to $96.5 $(4.0) $(2.1) $10.2 $100.7 diluted common shares



Diluted income (loss) per common $5.43 $(0.23) $(0.12)$0.58 $5.66 share



Effective tax rate21.9 % 22.1 %



SG&A as % gross 61.9 % 63.6 %profit ^(1)

Operating margin ^5.0 % 5.2 %(2)

Pretax margin ^(3)4.3 % 4.5 %



Same Store SG&A $299.6 $- $2.7 $- $302.3

Same Store SG&A as % gross profit ^ 62.9 % 63.4 %(1)



Same Store income (loss) from $148.0 $- $(2.7) $10.0 $155.2 operations

Same Store operating margin ^5.0 % 5.2 %(2)



^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.

^(2) Adjusted operating margin excludes the impact of SG&A reconciling items above and asset impairment charges.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items above and asset impairment charges.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Three Months Ended December 31, 2019

U.S. GAAPLegal Asset Non-GAAP matters impairmentsadjusted

SG&A expenses $338.1 $0.7 $- $338.8

Asset impairments $11.5 $- $(11.5) $-

Income (loss) from operations $96.5 $(0.7) $11.5 $107.3



Income (loss) before income $62.9 $(0.7) $11.5 $73.6 taxes

Less: (Benefit) provision for 14.8 (0.2) 2.7 17.3 income taxes

Net income (loss) 48.1 (0.5) 8.8 56.3

Less: Earnings (loss) allocated to participating 1.7 - 0.3 2.0 securities

Net income (loss) available to$46.3 $(0.5) $8.5 $54.3 diluted common shares



Diluted income (loss) per $2.57 $(0.03)$0.47 $3.01 common share



Effective tax rate 23.5 % 23.5 %



SG&A as % gross profit ^(1) 72.8 % 72.9 %

Operating margin ^(2) 3.1 % 3.4 %

Pretax margin ^(2) 2.0 % 2.4 %



Same Store SG&A expenses $333.0 $0.7 $- $333.8

Same Store SG&A as % gross 72.3 % 72.4 %profit^ (1)



Same Store income (loss) from $97.9 $(0.7) $11.5 $108.6 operations

Same Store operating margin^ 3.2 % 3.5 %(2)



^(1^) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.

^(2) Adjusted operating margin and pretax margin exclude the impact of SG&A reconciling items above and asset impairment charges.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Year Ended December 31, 2020

Dealership (Gain) loss on U.S. GAAP and real SeveranceLegal Out-of-periodAsset extinguishmentNon-GAAP estate costs matters adjustment impairmentsof debt adjusted transactions

SG&A expenses $1,169.3 $5.3 $ (2.1)$2.7 $ (10.6) $- $ - $1,164.7

Asset impairments $37.7 $- $ - $- $ - $(37.7) $ - $-

Income (loss) from$486.1 $(5.3) $ 2.1 $(2.7) $ 10.6 $37.7 $ - $528.4 operations

(Gain) loss on extinguishment of $13.7 $- $ - $- $ - $- $ (13.7) $- debt



Income (loss) before income $370.3 $(5.3) $ 2.1 $(2.7) $ 10.6 $37.7 $ 13.7 $426.4 taxes

Less: (Benefit) provision for 83.8 (1.1) 0.3 (0.6) 0.8 6.5 3.0 92.8 income taxes

Net income (loss) 286.5 (4.2) 1.8 (2.1) 9.7 31.2 10.7 333.5

Less: Earnings (loss) allocated 10.3 (0.2) 0.1 (0.1) 0.3 1.1 0.4 12.0 to participating securities

Net income (loss) available to $276.2 $(4.0) $ 1.7 $(2.1) $ 9.4 $30.1 $ 10.3 $321.6 diluted common shares



Diluted income (loss) per common $15.51 $(0.23) $ 0.10 $(0.12)$ 0.53 $1.69 $ 0.58 $18.06 share



Effective tax rate22.6 % 21.8 %



SG&A as % gross 66.1 % 65.8 %profit ^(1)

Operating margin ^4.5 % 4.9 %(2)

Pretax margin ^(3)3.4 % 3.9 %



Same Store SG&A $1,143.0 $- $ (2.1)$2.7 $ (10.6) $- $ - $1,133.0 expenses

Same Store SG&A as % gross profit ^ 66.1 % 65.5 %(1)



Same Store income (loss) from $480.3 $- $ 2.1 $(2.7) $ 10.6 $33.8 $ - $524.0 operations

Same Store operating margin ^4.5 % 4.9 %(2)



^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.

^(2) Adjusted operating margin excludes the impact of SG&A reconciling items above and asset impairment charges.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items above, asset impairment charges and (gain) losson extinguishment of debt.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Year Ended December 31, 2019

Dealership U.S. GAAP Catastrophicand real Legal Asset Non-GAAP events estate matters impairmentsadjusted transactions

SG&A expenses $1,358.4 $(17.8) $4.1 $(1.3)$- $1,343.4

Asset $22.2 $- $- $- $(22.2) $- impairments

Income (loss) from $363.7 $17.8 $(4.1) $1.3 $22.2 $401.0 operations



Income (loss) before income $227.3 $17.8 $(4.1) $1.3 $22.2 $264.5 taxes

Less: (Benefit) 53.3 4.4 (1.7) 0.3 4.7 61.0 provision for income taxes

Net income 174.0 13.4 (2.5) 1.0 17.6 203.6 (loss)

Less: Earnings (loss) allocated to 6.4 0.5 (0.1) - 0.7 7.5 participating securities

Net income (loss) available to $167.6 $12.9 $(2.4) $1.0 $16.9 $196.0 diluted common shares



Diluted income (loss) per $9.34 $0.72 $(0.13) $0.05 $0.94 $10.93 common share



Effective tax 23.4 % 23.0 %rate



SG&A as % gross profit ^74.8 % 74.0 %(1)

Operating 3.0 % 3.3 %margin ^(2)

Pretax margin 1.9 % 2.2 %^(2)



Same Store SG&$1,338.9 $(17.8) $0.4 $(1.1)$- $1,320.3 A expenses

Same Store SG& A as % gross 74.5 % 73.5 %profit ^(1)



Same Store income (loss) $364.4 $17.8 $(0.4) $1.1 $22.2 $405.2 from operations

Same Store operating 3.1 % 3.4 %margin ^(2)



^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.

^(2) Adjusted operating margin and pretax margin exclude the impact of SG&A reconciling items above and asset impairment charges.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - U.S.

(Unaudited)

(In millions)



Three Months Ended December 31, 2020

U.S. GAAPDealership and real Legal Non-GAAP estate transactions settlementsadjusted

SG&A expenses $241.0 $ 3.1 $2.7 $246.9

SG&A as % gross 59.5 % 61.0 %profit ^(1)



Same Store SG&A $241.5 $ - $2.7 $244.3

Same Store SG&A as 60.2 % 60.9 %% gross profit ^(1)



Three Months Ended December 31, 2019

U.S. GAAPLegal Non-GAAP matters adjusted

SG&A expenses $266.1 $0.7 $266.8

SG&A as % gross profit^ (1) 69.2 % 69.4 %



Same Store SG&A expenses $263.5 $0.7 $264.2

Same Store SG&A as % gross profit ^ 68.9 % 69.1 % (1)



Year Ended December 31, 2020

Out-of-periodDealership and Legal Non-GAAP U.S. GAAPadjustment real estate mattersadjusted transactions

SG&A expenses $947.0 $(10.6) $ 3.1 $ 2.7$942.3

SG&A as % gross profit ^63.7 % 63.4 %(1)



Same Store SG&$934.6 $(10.6) $ - $ 2.7$926.8 A expenses

Same Store SG& A as % gross 63.9 % 63.4 %profit ^(1)



Year Ended December 31, 2019

Dealership U.S. GAAP Catastrophicand real Legal Non-GAAP events estate matters adjusted transactions

SG&A expenses$1,075.6 $(17.8) $4.4 $(1.1)$1,061.1

SG&A as % gross profit 72.0 % 71.0 %^(1)



Same Store SG$1,068.9 $(17.8) $0.5 $(1.1)$1,050.5 &A expenses

Same Store SG &A as % gross72.0 % 70.7 %profit ^(1)



^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - U.K.

(Unaudited)

(In millions)



Three Months Ended December 31, 2020

U.S. GAAPDealership and real estate Non-GAAP transactions Adjusted

SG&A expenses $49.4 $ 2.2 $51.6

SG&A as % gross profit74.6 % 77.9 %^(1)





Year Ended December 31, 2020

U.S. GAAPDealership and real SeveranceNon-GAAP estate transactions costs Adjusted

SG&A expenses $191.2 $ 2.2 $(1.2) $192.2

SG&A as % gross 77.1 % 77.5 %profit ^(1)



Same Store SG&A $177.2 $ - $(1.2) $176.0 expenses

Same Store SG&A as 76.0 % 75.5 %% gross profit ^(1)



Year Ended December 31, 2019

U.S. GAAPDealership and real estateNon-GAAP transactions Adjusted

SG&A expenses $236.9 $ (0.5) $236.4

SG&A as % gross profit ^ 88.5 % 88.3 %(1)



Same Store SG&A expenses $224.7 $ (0.2) $224.5

Same Store SG&A as % 87.2 % 87.1 %gross profit ^(1)



^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Brazil

(Unaudited)

(In millions)



Year Ended December 31, 2020

U.S. Severance Non-GAAP GAAP costs adjusted

SG&A expenses $31.1 $(0.9) $ 30.2

SG&A as % gross profit ^(1) 89.2 % 86.7 %



Same Store SG&A expenses $31.1 $(0.9) $ 30.2

Same Store SG&A as % gross profit 89.3 % 86.7 % ^(1)



Year Ended December 31, 2019

U.S. Dealership and real Legal Non-GAAP GAAP estate transactions matters adjusted

SG&A expenses $46.0 $ 0.2 $(0.2) $46.0

SG&A as % gross 85.8 % 85.8 %profit ^(1)



^(1^) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.

View original content: http://www.prnewswire.com/news-releases/group-1-automotive-announces-fourth-quarter-and-full-year-2020-financial-results-301222175.html

SOURCE Group 1 Automotive, Inc.