PR Newswire | Jul 29, 2021 07:08AM EDT

07/29 06:07 CDT

Group 1 Automotive Announces Record Second Quarter 2021 Financial Results- Service Rebound, UK Market Recovery, and Strong Cost Control Drive Impressive Results- U.S. Same Store Total Used Vehicle Gross Profit Increased 119% YOY HOUSTON, July 29, 2021

HOUSTON, July 29, 2021 /PRNewswire/ -- Group 1 Automotive, Inc.(NYSE: GPI), ("Group 1" or the "Company"), an international, Fortune 500 automotive retailer, today reported record second quarter 2021 financial results.

Second quarter 2021 net income per diluted share was an all-time quarterly record of $10.35, a 533.9 percent increase from $1.63 per diluted share as reported for second quarter 2020. Second quarter 2021 adjusted net income per diluted share (a non-GAAP measure) was $10.31, a 173.6 percent increase from $3.77 per diluted share as reported for second quarter 2020. Second quarter 2021 net income was $191.0 million, a 532.9 percent increase compared to net income of $30.2 million in the same period of 2020. Second quarter 2021 adjusted net income (a non-GAAP measure) was $190.2 million, a 173.2 percent increase compared to adjusted net income of $69.6 million for the same period of 2020. The Company's second quarter 2021 total revenues were $3.7 billion, a 73.6 percent increase compared to total revenues of $2.1 billion in the same period of 2020.

Second quarter 2021 adjusted net income and diluted earnings per share excluded net after-tax adjustments totaling $0.8 million, or $0.04 per common share. The adjustments consist of gains on dealership and real estate transactions and a tax benefit related to the revaluation of deferred tax items in the U.K., partially offset by a non-cash loss associated with certain interest rate swaps due to decreased vehicle inventory levels. Second quarter 2020 adjusted net income and diluted earnings per share excluded net after-tax adjustments of $39.4 million, or $2.13 per share, primarily related to non-cash asset impairment charges, out-of-period adjustments to accelerate stock-based compensation expense, loss on debt extinguishment and severance costs. Reconciliations of non-GAAP financial measures are included in the attached financial tables. Certain disclosures may not compute due to rounding.

"Although the new vehicle supply disruption continues to impact our vehicle sales volume in all three of our markets, our operating teams continue to navigate this challenge with great success," said Earl J. Hesterberg, Group 1's President and Chief Executive Officer. "Our aftersales business is recovering extremely well, and our cost control has been outstanding."

Consolidated Operating Highlights for Second Quarter 2021(year-over-year comparable basis)

Reported:

* Total revenues increased 73.6 percent, to $3.7 billion. Total gross profit increased 84.3 percent, to $661.3 million. * New vehicle revenues increased 74.6 percent, as units sold increased 62.0 percent. New vehicle gross profit per retail unit (PRU) increased 59.9 percent, to $3,853. * Used vehicle retail revenues increased 86.5 percent, as units increased 47.4 percent. Used vehicle retail gross profit PRU increased 59.9 percent, to $2,425. * Parts and service gross profit increased 44.5 percent, on a 39.1 percent increase in revenue. * Finance and Insurance (F&I) gross profit PRU increased 8.0 percent, to $1,832. * Selling, General and Administrative (SG&A) expenses as a percentage of gross profit decreased 913 basis points, to 57.0 percent. Adjusted SG&A expenses (a non-GAAP measure) as a percentage of gross profit decreased 573 basis points, to 57.1 percent.

Same Store on a Constant Currency Basis (a non-GAAP measure):

* Total revenues increased 70.6 percent. Total gross profit increased 81.6 percent. * New vehicle gross profit increased 156.2 percent, as units increased 62.4 percent. New vehicle gross profit PRU increased 57.8 percent. * Used vehicle retail gross profit increased 130.7 percent, as units increased 48.8 percent. Used vehicle retail gross profit PRU increased 55.0 percent. * Parts and service gross profit increased 41.6 percent. * F&I gross profit PRU increased 6.8 percent. * SG&A expenses as a percentage of gross profit decreased 880 basis points. Adjusted SG&A expenses as a percentage of gross profit decreased 548 basis points.

Share Repurchase Authorization

During the second quarter of 2021, the Company repurchased approximately 125,000 shares at an average price of $148.79, for a total of approximately $18.6 million. The Company has approximately $150 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. While the Company's first priority for capital allocation remains M&A, it continues to be open to returning cash to shareholders in the form of both share repurchases and the increase of our quarterly dividend.

Corporate Development

As previously announced in July 2021, the Company acquired nine franchises in the U.K., which will contribute approximately $300 million in incremental annual revenues, and which increased the Company's U.K. portfolio count to 75 franchises. Hesterberg added, "We believe this is an excellent time to expand our U.K. business. Pent-up vehicle demand resulting from both Brexit and the pandemic should drive higher sales in the next several years."

Year-to-date, the Company has acquired 11 franchises, which are expected to generate $420 million in incremental annual revenues, and disposed of four franchises, which generated approximately $70 million in trailing-twelve-month revenues.

Second Quarter 2021 Earnings Conference Call Details

Group 1's senior management will host a conference call today at 10 a.m. ET to discuss the second quarter 2021 financial results. The conference call will be simulcast live on the Internet at group1auto.com, then click on 'Investor Relations' and then 'Events' or through this link: 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: 3896520

A telephonic replay will be available following the call through May 6, 2021 by dialing:

Domestic: 1-877-344-7529

International: 1-412-317-0088

Replay ID: 10158175

ABOUT GROUP 1 AUTOMOTIVE, INC.

Group 1 owns and operates 188 automotive dealerships, 242 franchises, and 48 collision centers in the United States, the United Kingdom and Brazil that offer 32 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 group1corp.com, group1auto.com, group1collision.com, acceleride.com, facebook.com/group1auto, and twitter.com/group1auto, where Group 1 discloses additional information about the Company, its business, and its results of operations.

FORWARD-LOOKING STATEMENTS

This 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 and the impact of supply chain disruptions which occur from time to time, (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 vehicle margins, implement and maintain expense controls, and 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 DATA

In 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.

SOURCE: Group 1 Automotive, Inc.

Investor contacts:

Sheila Roth

Manager, Investor Relations

Group 1 Automotive, Inc.

713-647-5741 | sroth@group1auto.com

Media contacts:

Pete DeLongchamps

Senior Vice President, Manufacturer Relations, Financial Services and Public Affairs

Group 1 Automotive, Inc.

713-647-5770 | pdelongchamps@group1auto.com

or

Clint Woods

Pierpont 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 June 30,

2021 2020 Increase/(Decrease)% Change

REVENUES:

New vehicle retail $1,855.3 $1,062.7 $ 792.6 74.6 %sales

Used vehicle retail1,195.6 641.2 554.4 86.5 %sales

Used vehicle 96.4 48.7 47.7 98.0 %wholesale sales

Parts and service 392.1 282.0 110.2 39.1 %sales

Finance, insurance 161.0 96.7 64.3 66.5 %and other, net

Total revenues 3,700.4 2,131.2 1,569.2 73.6 %

COST OF SALES:

New vehicle retail 1,690.0 998.9 691.1 69.2 %sales

Used vehicle retail1,086.5 594.9 491.6 82.6 %sales

Used vehicle 87.2 46.6 40.6 87.1 %wholesale sales

Parts and service 175.4 132.0 43.4 32.9 %sales

Total cost of 3,039.2 1,772.4 1,266.8 71.5 %sales

GROSS PROFIT 661.3 358.8 302.4 84.3 %

Selling, general and administrative 376.7 237.2 139.5 58.8 %expenses

Depreciation and amortization 18.8 18.8 - 0.2 %expense

Asset impairments - 23.8 (23.8) (100.0)%

INCOME FROM 265.8 79.0 186.7 236.3 %OPERATIONS

Floorplan interest 8.8 10.1 (1.3) (13.2) %expense

Other interest 13.7 16.2 (2.5) (15.3) %expense, net

Loss on extinguishment of - 10.4 (10.4) (100.0)%debt

INCOME BEFORE 243.2 42.3 200.9 474.6 %INCOME TAXES

Provision for 52.3 12.2 40.1 329.9 %income taxes

NET INCOME $191.0 $30.2 $ 160.8 532.9 %

Less: Earnings allocated to 6.4 1.1 5.3 490.0 %participating securities

Net income available to $184.5 $29.1 $ 155.5 534.5 %diluted common shares

DILUTED EARNINGS $10.35 $1.63 $ 8.72 533.9 %PER SHARE

Weighted average dilutive common 17.8 17.8 - 0.1 %shares outstanding

Weighted average participating 0.6 0.7 - (6.6) %securities

Total weighted 18.5 18.5 - (0.1) %average shares

Effective tax rate 21.5 %28.7 %(7.2) %

Group 1 Automotive, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In millions, except per share data)



Six Months Ended June 30,

2021 2020 Increase/(Decrease)% Change

REVENUES:

New vehicle retail $3,398.7 $2,404.8 $ 993.8 41.3 %sales

Used vehicle retail2,094.4 1,420.3 674.1 47.5 %sales

Used vehicle 176.6 135.2 41.4 30.7 %wholesale sales

Parts and service 752.8 652.6 100.2 15.4 %sales

Finance, insurance 288.0 209.2 78.8 37.7 %and other, net

Total revenues 6,710.5 4,822.0 1,888.4 39.2 %

COST OF SALES:

New vehicle retail 3,134.4 2,278.3 856.1 37.6 %sales

Used vehicle retail1,925.7 1,331.8 593.8 44.6 %sales

Used vehicle 163.5 132.1 31.4 23.8 %wholesale sales

Parts and service 335.0 304.5 30.4 10.0 %sales

Total cost of 5,558.5 4,046.7 1,511.8 37.4 %sales

GROSS PROFIT 1,151.9 775.3 376.7 48.6 %

Selling, general and administrative 695.2 565.1 130.0 23.0 %expenses

Depreciation and amortization 38.3 37.4 0.9 2.4 %expense

Asset impairments - 23.8 (23.8) (100.0)%

INCOME FROM 418.5 148.9 269.6 181.0 %OPERATIONS

Floorplan interest 16.4 23.0 (6.6) (28.8) %expense

Other interest 27.5 34.3 (6.8) (19.9) %expense, net

Loss on extinguishment of - 10.4 (10.4) (100.0)%debt

INCOME BEFORE 374.6 81.2 293.4 361.2 %INCOME TAXES

Provision for 81.7 21.3 60.4 284.1 %income taxes

NET INCOME $292.9 $60.0 $ 233.0 388.6 %

Less: Earnings allocated to 9.9 2.1 7.8 361.1 %participating securities

Net income available to $283.0 $57.8 $ 225.2 389.6 %diluted common shares

DILUTED EARNINGS $15.88 $3.25 $ 12.63 389.1 %PER SHARE

Weighted average dilutive common 17.8 17.8 - 0.1 %shares outstanding

Weighted average participating 0.6 0.7 - (6.4) %securities

Total weighted 18.5 18.5 - (0.1) %average shares

Effective tax rate 21.8 %26.2 %(4.4) %

Group 1 Automotive, Inc.

Additional Information - Consolidated

(Unaudited)



June 30, 2021December 31, 2020Increase/(Decrease)% Change

SELECTED BALANCE SHEET INFORMATION:

(In millions)

Cash and cash $198.7 $87.3 $ 111.4 127.7 %equivalents

Inventories,$1,030.2 $1,468.0 $ (437.8) (29.8)%net

Floorplan notes $498.5 $1,095.0 $ (596.5) (54.5)%payable, net ^(1)

Total debt $1,381.3 $1,351.4 $ 29.9 2.2 %

Total equity$1,754.0 $1,449.6 $ 304.4 21.0 %

^(1) Amounts are net of offset accounts of $326.1 and $176.4, respectively.

Three Months Ended June 30,Six Months Ended June 30,

2021 2020 2021 2020

NEW VEHICLE UNIT SALES GEOGRAPHIC MIX:

United States 79.4 %82.9 %79.2 % 75.1 %

United Kingdom 17.2 %14.5 %17.5 % 20.6 %

Brazil 3.4 %2.6 %3.3 % 4.3 %



NEW VEHICLE UNIT SALES BRAND MIX:

Toyota/Lexus 25.8 %22.8 %25.9 % 23.1 %

Volkswagen/Audi/ 15.3 %11.7 %14.8 % 14.2 % Porsche/SEAT/SKODA

BMW/MINI 11.7 %10.5 %11.1 % 11.2 %

Honda/Acura 10.3 %9.9 %10.0 % 9.6 %

Ford/Lincoln 7.6 %12.3 %8.5 % 11.1 %

Chevrolet/GMC/Buick/ 6.6 %8.7 %6.9 % 7.6 % Cadillac

Nissan 5.8 %5.9 %5.5 % 5.6 %

Hyundai/Kia/Genesis 5.7 %4.8 %5.3 % 4.4 %

Mercedes-Benz/smart/ 4.5 %5.3 %4.8 % 5.3 % Sprinter

Chrysler/Dodge/Jeep/ 3.9 %4.9 %4.0 % 4.1 % RAM

Jaguar/Land Rover 1.7 %1.7 %2.0 % 2.2 %

Other 1.1 %1.6 %1.3 % 1.7 %

100.0 %100.0 %100.0 % 100.0 %

June 30, 2021December 31, 2020June 30, 2020

DAYS' SUPPLY IN INVENTORY ^ (1):

Consolidated

New vehicle inventory 20 52 61

Used vehicle inventory 32 37 29

U.S.

New vehicle inventory 16 48 64

Used vehicle inventory 29 32 25

U.K.

New vehicle inventory 31 102 49

Used vehicle inventory 39 52 38

Brazil

New vehicle inventory 32 27 81

Used vehicle inventory 54 51 61

^(1) Days' supply in inventory is calculated based on inventory unit levels and 30-day total unit sales volumes, both at the end of each reporting period.

Group 1 Automotive, Inc.

Reported Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Three Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $1,855.3 $1,062.7 $792.6 74.6 %$33.6 71.4 %retail sales

Used vehicle 1,195.6 641.2 554.4 86.5 %32.8 81.3 %retail sales

Used vehicle 96.4 48.7 47.7 98.0 %3.6 90.6 %wholesale sales

Total 1,292.0 689.9 602.1 87.3 %36.5 82.0 %used

Parts and service 392.1 282.0 110.2 39.1 %5.6 37.1 %sales

F&I, net 161.0 96.7 64.3 66.5 %1.7 64.7 %

Total $3,700.4 $2,131.2 $1,569.2 73.6 %$77.4 70.0 %revenues

Gross profit:

New vehicle $165.3 $63.8 $101.5 159.2 %$2.1 155.9 %retail sales

Used vehicle 109.1 46.3 62.8 135.8 %2.3 130.9 %retail sales

Used vehicle 9.1 2.0 7.1 NM 0.3 NM wholesale sales

Total 118.2 48.3 69.9 144.7 %2.5 139.5 %used

Parts and service 216.7 150.0 66.7 44.5 %3.4 42.2 %sales

F&I, net 161.0 96.7 64.3 66.5 %1.7 64.7 %

Total gross $661.3 $358.8 $302.4 84.3 %$9.8 81.6 %profit

Gross margin:

New vehicle 8.9 %6.0 %2.9 % retail sales

Used vehicle 9.1 %7.2 %1.9 % retail sales

Used vehicle 9.5 %4.2 %5.3 % wholesale sales

Total 9.2 %7.0 %2.1 % used

Parts and service 55.3 %53.2 %2.1 % sales

Total gross 17.9 %16.8 %1.0 % margin

Units sold:

Retail new vehicles 42,893 26,472 16,421 62.0 % sold

Retail used 45,002 30,528 14,474 47.4 % vehicles sold

Wholesale used 10,965 7,303 3,662 50.1 % vehicles sold

Total 55,967 37,831 18,136 47.9 % used

Average sales price per unit sold:

New vehicle $43,254 $40,143 $3,111 7.8 %$783 5.8 %retail

Used vehicle $26,568 $21,004 $5,564 26.5 %$729 23.0 %retail

Gross profit per unit sold:

New vehicle $3,853 $2,409 $1,444 59.9 %$48 58.0 %retail sales

Used vehicle $2,425 $1,516 $909 59.9 %$50 56.6 %retail sales

Used vehicle $832 $278 $554 NM $24 NM wholesale sales

Total $2,113 $1,277 $836 65.4 %$45 61.9 %used

F&I PRU $1,832 $1,697 $135 8.0 %$20 6.8 %

Other:

SG&A $376.7 $237.2 $139.5 58.8 %$6.3 56.2 %expenses

Adjusted SG&A $377.5 $225.4 $152.1 67.5 %$6.3 64.7 %expenses ^ (1)

SG&A as % gross 57.0 %66.1 %(9.1) % profit

Adjusted SG&A as % gross 57.1 %62.8 %(5.7) % profit ^ (1)

Operating 7.2 %3.7 %3.5 % margin %

Adjusted operating 7.2 %5.4 %1.8 % margin % ^ (1)

Pretax 6.6 %2.0 %4.6 % margin %

Adjusted pretax 6.6 %4.1 %2.5 % margin % ^ (1)

Floorplan expense:

Floorplan interest $8.8 $10.1 $(1.3) (13.2)%$0.2 (14.9) %expense

Less: Floorplan 15.3 9.8 5.4 55.5 %- 55.5 %assistance ^ (2)

Net floorplan $(6.5) $0.3 $(6.8) $0.2 expense

Adjusted floorplan interest $6.5 $10.1 $(3.7) (36.1)%$0.2 (37.8) %expense^ (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.

^(2) Floorplan assistance is included within New vehicle retail Gross profitabove and New vehicle retail Cost of sales in our Condensed ConsolidatedStatements of Operations.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Six Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $3,398.7 $2,404.8 $993.8 41.3 %$39.9 39.7 %retail sales

Used vehicle 2,094.4 1,420.3 674.1 47.5 %38.4 44.8 %retail sales

Used vehicle 176.6 135.2 41.4 30.7 %4.5 27.3 %wholesale sales

Total 2,271.0 1,555.4 715.6 46.0 %42.9 43.2 %used

Parts and service 752.8 652.6 100.2 15.4 %6.7 14.3 %sales

F&I, net 288.0 209.2 78.8 37.7 %1.9 36.8 %

Total $6,710.5 $4,822.0 $1,888.4 39.2 %$91.9 37.3 %revenues

Gross profit:

New vehicle $264.3 $126.6 $137.7 108.8 %$2.0 107.2 %retail sales

Used vehicle 168.7 88.4 80.3 90.8 %2.2 88.3 %retail sales

Used vehicle 13.1 3.0 10.0 NM 0.2 NM wholesale sales

Total 181.8 91.5 90.3 98.7 %2.4 96.1 %used

Parts and service 417.8 348.0 69.8 20.0 %4.4 18.8 %sales

F&I, net 288.0 209.2 78.8 37.7 %1.9 36.8 %

Total gross $1,151.9 $775.3 $376.7 48.6 %$10.8 47.2 %profit

Gross margin:

New vehicle 7.8 %5.3 %2.5 % retail sales

Used vehicle 8.1 %6.2 %1.8 % retail sales

Used vehicle 7.4 %2.2 %5.2 % wholesale sales

Total 8.0 %5.9 %2.1 % used

Parts and service 55.5 %53.3 %2.2 % sales

Total gross 17.2 %16.1 %1.1 % margin

Units sold:

Retail new vehicles 79,756 61,832 17,924 29.0 % sold

Retail used 83,061 67,318 15,743 23.4 % vehicles sold

Wholesale used 20,777 19,389 1,388 7.2 % vehicles sold

Total 103,838 86,707 17,131 19.8 % used

Average sales price per unit sold:

New vehicle $42,613 $38,893 $3,720 9.6 %$500 8.3 %retail

Used vehicle $25,215 $21,098 $4,117 19.5 %$462 17.3 %retail

Gross profit per unit sold:

New vehicle $3,314 $2,047 $1,267 61.9 %$25 60.6 %retail sales

Used vehicle $2,031 $1,314 $718 54.6 %$27 52.6 %retail sales

Used vehicle $628 $156 $472 NM $8 NM wholesale sales

Total $1,751 $1,055 $696 66.0 %$23 63.8 %used

F&I PRU $1,769 $1,620 $149 9.2 %$12 8.5 %

Other:

SG&A $695.2 $565.1 $130.0 23.0 %$7.3 21.7 %expenses

Adjusted SG&A $695.0 $552.5 $142.5 25.8 %$7.2 24.5 %expenses ^ (1)

SG&A as % gross 60.3 %72.9 %(12.5) % profit

Adjusted SG&A as % gross 60.3 %71.3 %(10.9) % profit ^ (1)

Operating 6.2 %3.1 %3.1 % margin %

Adjusted operating 6.2 %3.8 %2.4 % margin % ^ (1)

Pretax 5.6 %1.7 %3.9 % margin %

Adjusted pretax 5.6 %2.7 %3.0 % margin % ^ (1)

Floorplan expense:

Floorplan interest $16.4 $23.0 $(6.6) (28.8)%$0.3 (30.0) %expense

Less: Floorplan 28.5 20.4 8.1 39.6 %- 39.6 %assistance ^(2)

Net floorplan $(12.1) $2.6 $(14.7) $0.3 expense

Adjusted floorplan interest $14.0 $23.0 $(9.0) (38.9)%$0.3 (40.1) %expense ^ (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.

^(2) Floorplan assistance is included within New vehicle retail Gross profitabove and New vehicle retail Cost of sales in our Condensed ConsolidatedStatements of Operations.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Three Months Ended June 30,

2021 2020 Increase/(Decrease)% Change

Revenues:

New vehicle retail $1,504.4 $915.7 $588.7 64.3 %sales

Used vehicle retail 882.9 540.9 342.0 63.2 %sales

Used vehicle 61.2 30.5 30.7 100.5 %wholesale sales

Total used 944.1 571.4 372.7 65.2 %

Parts and service 332.6 254.2 78.4 30.8 %sales

F&I, net 143.9 89.8 54.1 60.3 %

Total revenues $2,924.9 $1,831.1 $1,093.8 59.7 %

Gross profit:

New vehicle retail $141.7 $56.5 $85.2 150.7 %sales

Used vehicle retail 87.3 41.0 46.4 113.2 %sales

Used vehicle 6.4 1.6 4.8 NM wholesale sales

Total used 93.7 42.6 51.2 120.2 %

Parts and service 181.7 135.6 46.1 34.0 %sales

F&I, net 143.9 89.8 54.1 60.3 %

Total gross profit $561.1 $324.5 $236.6 72.9 %

Gross margin:

New vehicle retail 9.4 %6.2 %3.2 % sales

Used vehicle retail 9.9 %7.6 %2.3 % sales

Used vehicle 10.5 %5.2 %5.2 % wholesale sales

Total used 9.9 %7.4 %2.5 %

Parts and service 54.6 %53.3 %1.3 % sales

Total gross margin 19.2 %17.7 %1.5 %

Units sold:

Retail new vehicles 34,047 21,937 12,110 55.2 %sold

Retail used vehicles 34,008 26,132 7,876 30.1 %sold

Wholesale used 6,606 5,150 1,456 28.3 %vehicles sold

Total used 40,614 31,282 9,332 29.8 %

Average sales price per unit sold:

New vehicle retail $44,185 $41,742 $2,443 5.9 %

Used vehicle retail $25,962 $20,699 $5,263 25.4 %

Gross profit per unit sold:

New vehicle retail $4,162 $2,576 $1,586 61.6 %sales

Used vehicle retail $2,568 $1,568 $1,000 63.8 %sales

Used vehicle $969 $311 $658 NM wholesale sales

Total used $2,308 $1,361 $947 69.6 %

F&I PRU $2,114 $1,868 $247 13.2 %

Other:

SG&A expenses $312.6 $203.3 $109.3 53.8 %

Adjusted SG&A $313.4 $192.7 $120.7 62.6 %expenses ^(1)

SG&A as % gross 55.7 %62.6 %(6.9) % profit

Adjusted SG&A as % 55.9 %59.4 %(3.5) % gross 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Six Months Ended June 30,

2021 2020 Increase/(Decrease)% Change

Revenues:

New vehicle retail $2,750.4 $1,904.1 $846.3 44.4 %sales

Used vehicle retail 1,579.4 1,111.2 468.2 42.1 %sales

Used vehicle 111.6 77.3 34.2 44.3 %wholesale sales

Total used 1,691.0 1,188.6 502.4 42.3 %

Parts and service 628.9 558.9 70.0 12.5 %sales

F&I, net 259.0 187.2 71.8 38.3 %

Total revenues $5,329.3 $3,838.7 $1,490.6 38.8 %

Gross profit:

New vehicle retail $222.6 $103.8 $118.8 114.5 %sales

Used vehicle retail 137.6 72.9 64.7 88.8 %sales

Used vehicle 10.3 2.4 7.9 NM wholesale sales

Total used 148.0 75.3 72.6 96.4 %

Parts and service 346.8 299.1 47.7 16.0 %sales

F&I, net 259.0 187.2 71.8 38.3 %

Total gross profit $976.3 $665.4 $310.9 46.7 %

Gross margin:

New vehicle retail 8.1 %5.5 %2.6 % sales

Used vehicle retail 8.7 %6.6 %2.2 % sales

Used vehicle 9.3 %3.1 %6.1 % wholesale sales

Total used 8.8 %6.3 %2.4 %

Parts and service 55.1 %53.5 %1.6 % sales

Total gross margin 18.3 %17.3 %1.0 %

Units sold:

Retail new vehicles 63,199 46,432 16,767 36.1 %sold

Retail used vehicles 64,439 53,800 10,639 19.8 %sold

Wholesale used 13,046 12,177 869 7.1 %vehicles sold

Total used 77,485 65,977 11,508 17.4 %

Average sales price per unit sold:

New vehicle retail $43,520 $41,008 $2,512 6.1 %

Used vehicle retail $24,510 $20,655 $3,855 18.7 %

Gross profit per unit sold:

New vehicle retail $3,522 $2,235 $1,287 57.6 %sales

Used vehicle retail $2,136 $1,355 $781 57.6 %sales

Used vehicle $792 $199 $592 NM wholesale sales

Total used $1,910 $1,142 $768 67.3 %

F&I PRU $2,029 $1,868 $161 8.6 %

Other:

SG&A expenses $574.3 $460.8 $113.5 24.6 %

Adjusted SG&A $574.7 $450.2 $124.5 27.7 %expenses ^(1)

SG&A as % gross 58.8 %69.2 %(10.4) % profit

Adjusted SG&A as % 58.9 %67.7 %(8.8) % gross 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Three Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $301.2 $127.2 $ 174.0 136.8% $ 32.9 110.9 %retail sales

Used vehicle 300.9 92.8 208.1 224.1% 32.7 188.9 %retail sales

Used vehicle 32.5 15.3 17.3 113.2% 3.6 89.9 %wholesale sales

Total 333.4 108.1 225.3 208.5% 36.3 174.9 %used

Parts and service 50.3 21.8 28.5 130.5% 5.5 105.4 %sales

F&I, net 15.7 6.4 9.4 147.1% 1.7 120.3 %

Total $700.7 $263.5 $ 437.2 165.9% $ 76.4 136.9 %revenues

Gross profit:

New vehicle $18.4 $5.9 $ 12.5 213.2% $ 2.0 179.0 %retail sales

Used vehicle 20.8 4.9 15.9 326.2% 2.3 280.1 %retail sales

Used vehicle 2.5 0.4 2.2 NM 0.3 NM wholesale sales

Total 23.3 5.2 18.1 345.7% 2.5 297.7 %used

Parts and service 31.0 11.9 19.0 159.2% 3.4 131.1 %sales

F&I, net 15.7 6.4 9.4 147.1% 1.7 120.3 %

Total gross $88.4 $29.4 $ 59.0 200.6% $ 9.6 167.9 %profit

Gross margin:

New vehicle 6.1 %4.6 %1.5 % retail sales

Used vehicle 6.9 %5.3 %1.7 % retail sales

Used vehicle 7.7 %2.3 %5.4 % wholesale sales

Total 7.0 %4.8 %2.2 % used

Parts and service 61.5 %54.7 %6.8 % sales

Total gross 12.6 %11.2 %1.5 % margin

Units sold:

Retail new 7,395 3,841 3,554 92.5 % vehicles sold

Retail used 10,494 4,040 6,454 159.8% vehicles sold

Wholesale used 4,124 1,829 2,295 125.5% vehicles sold

Total 14,618 5,869 8,749 149.1% used

Average sales price per unit sold:

New vehicle $40,727 $33,119 $ 7,608 23.0 % $ 4,4559.5 %retail

Used vehicle $28,672 $22,978 $ 5,694 24.8 % $ 3,11411.2 %retail

Gross profit per unit sold:

New vehicle $2,484 $1,527 $ 957 62.7 % $ 271 44.9 %retail sales

Used vehicle $1,984 $1,209 $ 775 64.1 % $ 215 46.3 %retail sales

Used vehicle $611 $192 $ 419 NM $ 64 NM wholesale sales

Total $1,597 $892 $ 705 79.0 % $ 172 59.7 %used

F&I PRU $879 $808 $ 72 8.9 % $ 95 (2.9) %

Other:

SG&A $56.0 $28.3 $ 27.7 98.0 % $ 6.2 76.0 %expenses

Adjusted SG&A $56.0 $27.1 $ 29.0 106.9% $ 6.2 83.9 %expenses ^(1)

SG&A as % gross 63.4 %96.2 %(32.8) % profit

Adjusted SG&A as % gross 63.4 %92.1 %(28.7) % 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Six Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $564.3 $423.5 $ 140.8 33.3 % $ 52.3 20.9 %retail sales

Used vehicle 492.5 281.6 210.9 74.9 % 41.7 60.1 %retail sales

Used vehicle 60.4 51.1 9.3 18.1 % 5.0 8.3 %wholesale sales

Total 552.8 332.7 220.1 66.2 % 46.7 52.1 %used

Parts and service 106.8 78.3 28.5 36.5 % 8.8 25.2 %sales

F&I, net 26.3 19.7 6.6 33.6 % 2.4 21.5 %

Total $1,250.3 $854.2 $ 396.1 46.4 % $ 110.733.4 %revenues

Gross profit:

New vehicle $33.2 $17.9 $ 15.2 85.0 % $ 3.2 66.9 %retail sales

Used vehicle 29.0 14.0 15.0 106.5% 2.6 88.3 %retail sales

Used vehicle 2.4 0.3 2.0 NM 0.2 NM wholesale sales

Total 31.4 14.4 17.0 118.3% 2.8 99.0 %used

Parts and service 63.6 42.3 21.3 50.5 % 5.3 37.9 %sales

F&I, net 26.3 19.7 6.6 33.6 % 2.4 21.5 %

Total gross $154.4 $94.2 $ 60.2 63.8 % $ 13.7 49.3 %profit

Gross margin:

New vehicle 5.9 %4.2 %1.6 % retail sales

Used vehicle 5.9 %5.0 %0.9 % retail sales

Used vehicle 3.9 %0.6 %3.3 % wholesale sales

Total 5.7 %4.3 %1.4 % used

Parts and service 59.5 %54.0 %5.5 % sales

Total gross 12.3 %11.0 %1.3 % margin

Units sold:

Retail new 13,935 12,735 1,200 9.4 % vehicles sold

Retail used 17,606 12,064 5,542 45.9 % vehicles sold

Wholesale used 7,262 6,413 849 13.2 % vehicles sold

Total 24,868 18,477 6,391 34.6 % used

Average sales price per unit sold:

New vehicle $40,498 $33,255 $ 7,243 21.8 % $ 3,75010.5 %retail

Used vehicle $27,973 $23,344 $ 4,629 19.8 % $ 2,3719.7 %retail

Gross profit per unit sold:

New vehicle $2,379 $1,407 $ 972 69.1 % $ 233 52.5 %retail sales

Used vehicle $1,647 $1,164 $ 483 41.5 % $ 145 29.0 %retail sales

Used vehicle $325 $50 $ 275 NM $ 30 NM wholesale sales

Total $1,261 $777 $ 483 62.2 % $ 111 47.9 %used

F&I PRU $834 $794 $ 40 5.0 % $ 75 (4.5) %

Other:

SG&A $105.7 $88.2 $ 17.5 19.9 % $ 9.2 9.5 %expenses

Adjusted SG&A $105.1 $86.9 $ 18.2 20.9 % $ 9.1 10.4 %expenses ^(1)

SG&A as % gross 68.4 %93.5 %(25.1) % profit

Adjusted SG&A as % gross 68.1 %92.2 %(24.2) % 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Three Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $49.8 $19.8 $ 30.0 151.8 %$ 0.6 148.5 %retail sales

Used vehicle 11.8 7.5 4.4 58.4 %0.1 56.6 %retail sales

Used vehicle wholesale 2.6 2.9 (0.2) (8.3) %0.1 (10.9) %sales

Total used 14.5 10.3 4.1 39.9 %0.2 37.7 %

Parts and 9.2 5.9 3.3 55.9 %0.1 53.4 %service sales

F&I, net 1.4 0.6 0.8 139.1 %- 136.2 %

Total $74.8 $36.6 $ 38.2 104.5 %$ 1.0 101.6 %revenues

Gross profit:

New vehicle $5.2 $1.4 $ 3.8 274.3 %$ 0.1 270.4 %retail sales

Used vehicle 1.0 0.4 0.5 126.0 %- 124.6 %retail sales

Used vehicle wholesale 0.2 0.1 0.1 149.8 %- 145.5 %sales

Total used 1.2 0.5 0.7 129.7 %- 127.9 %

Parts and 4.0 2.5 1.6 63.9 %0.1 61.5 %service sales

F&I, net 1.4 0.6 0.8 139.1 %- 136.2 %

Total gross $11.8 $4.9 $ 6.8 138.6 %$ 0.2 135.5 %profit

Gross margin:

New vehicle 10.4 %7.0 %3.4 % retail sales

Used vehicle 8.2 %5.8 %2.5 % retail sales

Used vehicle wholesale 7.6 %2.8 %4.8 % sales

Total used 8.1 %4.9 %3.2 %

Parts and 43.9 %41.8 %2.2 % service sales

Total gross 15.7 %13.5 %2.3 % margin

Units sold:

Retail new 1,451 694 757 109.1 % vehicles sold

Retail used 500 356 144 40.4 % vehicles sold

Wholesale used235 324 (89) (27.5)% vehicles sold

Total used 735 680 55 8.1 %

Average sales price per unit sold:

New vehicle $34,313 $28,495 $ 5,818 20.4 %$ 438 18.9 %retail

Used vehicle $23,671 $20,983 $ 2,687 12.8 %$ 271 11.5 %retail

Gross profit per unit sold:

New vehicle $3,578 $1,999 $ 1,579 79.0 %$ 38 77.1 %retail sales

Used vehicle $1,951 $1,213 $ 739 60.9 %$ 12 59.9 %retail sales

Used vehicle wholesale $850 $247 $ 603 NM $ 15 NM sales

Total used $1,599 $752 $ 847 112.6 %$ 13 110.8 %

F&I PRU $707 $550 $ 158 28.7 %$ 8 27.1 %

Other:

SG&A expenses $8.1 $5.6 $ 2.5 44.0 %$ 0.1 42.2 %

SG&A as % 68.8 %114.0 %(45.2) % gross profit

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Six Months Ended June 30,

Currency Impact on Constant Increase/ Currency % 2021 2020 % ChangeCurrent (Decrease) Change Period Results

Revenues:

New vehicle $83.9 $77.3 $ 6.7 8.6 %$(12.4) 24.7 %retail sales

Used vehicle 22.5 27.4 (4.9) (17.9)%(3.4) (5.6) %retail sales

Used vehicle 4.6 6.7 (2.1) (30.8)%(0.5) (23.3) %wholesale sales

Total 27.1 34.1 (7.0) (20.5)%(3.9) (9.1) %used

Parts and service 17.1 15.5 1.6 10.4 %(2.1) 24.2 %sales

F&I, net 2.8 2.3 0.5 20.1 %(0.4) 38.8 %

Total $130.9 $129.1 $ 1.8 1.4 %$(18.8) 15.9 %revenues

Gross profit:

New vehicle $8.6 $4.9 $ 3.7 75.1 %$(1.2) 100.2 %retail sales

Used vehicle 2.1 1.5 0.6 40.6 %(0.3) 61.1 %retail sales

Used vehicle 0.4 0.3 0.1 30.0 %(0.1) 47.8 %wholesale sales

Total 2.5 1.8 0.7 38.9 %(0.4) 59.0 %used

Parts and service 7.4 6.7 0.7 10.8 %(0.9) 25.0 %sales

F&I, net 2.8 2.3 0.5 20.1 %(0.4) 38.8 %

Total gross $21.2 $15.6 $ 5.5 35.5 %$(2.9) 54.3 %profit

Gross margin:

New vehicle 10.2 %6.3 %3.9 % retail sales

Used vehicle 9.3 %5.4 %3.9 % retail sales

Used vehicle 7.9 %4.2 %3.7 % wholesale sales

Total 9.0 %5.2 %3.9 % used

Parts and service 43.3 %43.1 %0.2 % sales

Total gross 16.2 %12.1 %4.1 % margin

Units sold:

Retail new 2,622 2,665 (43) (1.6) % vehicles sold

Retail used 1,016 1,454 (438) (30.1)% vehicles sold

Wholesale used 469 799 (330) (41.3)% vehicles sold

Total 1,485 2,253 (768) (34.1)% used

Average sales price per unit sold:

New vehicle $32,011 $28,994 $ 3,017 10.4 %$(4,728)26.7 %retail

Used vehicle $22,143 $18,847 $ 3,296 17.5 %$(3,331)35.2 %retail

Gross profit per unit sold:

New vehicle $3,273 $1,839 $ 1,434 78.0 %$(469) 103.5 %retail sales

Used vehicle $2,051 $1,019 $ 1,032 101.2 %$(300) 130.6 %retail sales

Used vehicle $788 $356 $ 432 NM $(108) NM wholesale sales

Total $1,652 $784 $ 868 110.7 %$(239) 141.2 %used

F&I PRU $758 $557 $ 200 35.9 %$(118) 57.2 %

Other:

SG&A $15.2 $16.2 $ (1.0) (6.4) %$(1.9) 5.5 %expenses

Adjusted SG&A $15.2 $15.3 $ (0.1) (1.0) %$(1.9) 11.7 %expenses ^(1)

SG&A as % gross 71.7 %103.8 %(32.1) % profit

Adjusted SG&A as % gross 71.7 %98.2 %(26.4) % 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Three Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $1,837.5 $1,049.8 $787.7 75.0 % $33.6 71.8 % retail sales

Used vehicle 1,188.2 632.5 555.7 87.9 % 32.8 82.7 % retail sales

Used vehicle 95.8 48.2 47.6 98.7 % 3.6 91.2 % wholesale sales

Total 1,284.0 680.7 603.3 88.6 % 36.5 83.3 % used

Parts and service 385.5 278.5 107.0 38.4 % 5.3 36.5 % sales

F&I, net 159.9 95.5 64.4 67.4 % 1.7 65.6 %

Total $3,666.9 $2,104.5 $1,562.4 74.2 % $77.1 70.6 % revenues

Gross profit:

New vehicle $163.6 $63.1 $100.6 159.4% $2.1 156.2% retail sales

Used vehicle 107.8 45.8 62.1 135.6% 2.3 130.7% retail sales

Used vehicle 8.9 2.0 6.9 NM 0.3 NM wholesale sales

Total 116.8 47.8 69.0 144.4% 2.5 139.1% used

Parts and service 212.9 148.1 64.9 43.8 % 3.2 41.6 % sales

F&I, net 159.9 95.5 64.4 67.4 % 1.7 65.6 %

Total gross $653.3 $354.4 $298.8 84.3 % $9.6 81.6 % profit

Gross margin:

New vehicle 8.9 %6.0 %2.9 % retail sales

Used vehicle 9.1 %7.2 %1.8 % retail sales

Used vehicle 9.3 %4.1 %5.2 % wholesale sales

Total 9.1 %7.0 %2.1 % used

Parts and service 55.2 %53.2 %2.1 % sales

Total gross 17.8 %16.8 %1.0 % margin

Units sold:

Retail new 42,409 26,116 16,293 62.4 % vehicles sold

Retail used 44,659 30,016 14,643 48.8 % vehicles sold

Wholesale used 10,846 7,217 3,629 50.3 % vehicles sold

Total 55,505 37,233 18,272 49.1 % used

Average sales price per unit sold:

New vehicle $43,329 $40,199 $3,131 7.8 % $792 5.8 % retail

Used vehicle $26,606 $21,072 $5,534 26.3 % $735 22.8 % retail

Gross profit per unit sold:

New vehicle $3,858 $2,415 $1,443 59.8 % $49 57.8 % retail sales

Used vehicle $2,415 $1,525 $890 58.4 % $51 55.0 % retail sales

Used vehicle $823 $277 $546 NM $25 NM wholesale sales

Total $2,104 $1,283 $821 64.0 % $46 60.4 % used

F&I PRU $1,837 $1,702 $135 7.9 % $20 6.8 %

Other:

SG&A $372.3 $233.2 $139.1 59.7 % $6.2 57.0 % expenses

Adjusted SG&A $372.3 $221.4 $150.9 68.1 % $6.2 65.3 % expenses ^(1)

SG&A as % gross 57.0 %65.8 %(8.8) % profit

Adjusted SG&A as % gross 57.0 %62.5 %(5.5) % profit ^ (1)

Operating7.2 %3.8 %3.4 % margin %

Adjusted operating7.2 %5.4 %1.7 % margin % ^(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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Six Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $3,380.4 $2,381.9 $998.6 41.9 % $39.8 40.3 % retail sales

Used vehicle 2,086.4 1,403.0 683.4 48.7 % 38.3 46.0 % retail sales

Used vehicle 176.0 133.7 42.2 31.6 % 4.5 28.2 % wholesale sales

Total 2,262.4 1,536.8 725.6 47.2 % 42.8 44.4 % used

Parts and service 743.6 642.6 101.0 15.7 % 6.3 14.7 % sales

F&I, net 286.9 207.0 79.9 38.6 % 1.9 37.7 %

Total $6,673.3 $4,768.3 $1,905.0 40.0 % $91.4 38.0 % revenues

Gross profit:

New vehicle $262.7 $125.2 $137.5 109.8% $2.0 108.2% retail sales

Used vehicle 167.4 87.7 79.8 91.0 % 2.2 88.5 % retail sales

Used vehicle 12.9 3.0 9.9 NM 0.2 NM wholesale sales

Total 180.4 90.7 89.7 98.9 % 2.4 96.3 % used

Parts and service 412.9 342.8 70.1 20.5 % 4.2 19.2 % sales

F&I, net 286.9 207.0 79.9 38.6 % 1.9 37.7 %

Total gross $1,142.9 $765.7 $377.2 49.3 % $10.6 47.9 % profit

Gross margin:

New vehicle 7.8 %5.3 %2.5 % retail sales

Used vehicle 8.0 %6.2 %1.8 % retail sales

Used vehicle 7.3 %2.3 %5.1 % wholesale sales

Total 8.0 %5.9 %2.1 % used

Parts and service 55.5 %53.3 %2.2 % sales

Total gross 17.1 %16.1 %1.1 % margin

Units sold:

Retail new 79,260 61,198 18,062 29.5 % vehicles sold

Retail used 82,686 66,347 16,339 24.6 % vehicles sold

Wholesale used 20,645 19,138 1,507 7.9 % vehicles sold

Total 103,331 85,485 17,846 20.9 % used

Average sales price per unit sold:

New vehicle $42,650 $38,921 $3,729 9.6 % $503 8.3 % retail

Used vehicle $25,233 $21,147 $4,086 19.3 % $463 17.1 % retail

Gross profit per unit sold:

New vehicle $3,315 $2,046 $1,268 62.0 % $25 60.7 % retail sales

Used vehicle $2,025 $1,321 $704 53.3 % $27 51.2 % retail sales

Used vehicle $626 $157 $469 NM $8 NM wholesale sales

Total $1,745 $1,061 $685 64.6 % $23 62.4 % used

F&I PRU $1,772 $1,623 $149 9.2 % $12 8.4 %

Other:

SG&A $689.6 $555.5 $134.2 24.2 % $7.1 22.9 % expenses

Adjusted SG&A $688.4 $542.8 $145.6 26.8 % $7.0 25.5 % expenses^ (1)

SG&A as % gross 60.3 %72.5 %(12.2) % profit

Adjusted SG&A as % gross 60.2 %70.9 %(10.7) % profit ^ (1)

Operating6.2 %3.1 %3.1 % margin %

Adjusted operating6.2 %3.9 %2.3 % margin % ^(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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Three Months Ended June 30,

2021 2020 Increase/(Decrease)% Change

Revenues:

New vehicle retail $1,486.6 $903.9 $582.7 64.5 %sales

Used vehicle retail 875.5 533.2 342.2 64.2 %sales

Used vehicle wholesale60.6 30.1 30.5 101.2 %sales

Total used 936.1 563.4 372.7 66.2 %

Parts and service 329.3 251.2 78.1 31.1 %sales

F&I, net 142.8 88.7 54.1 61.0 %

Total revenues $2,894.8 $1,807.1 $1,087.7 60.2 %

Gross profit:

New vehicle retail $140.1 $55.9 $84.2 150.7 %sales

Used vehicle retail 86.0 40.5 45.5 112.3 %sales

Used vehicle wholesale6.2 1.6 4.6 NM sales

Total used 92.2 42.1 50.2 119.1 %

Parts and service 179.6 133.9 45.8 34.2 %sales

F&I, net 142.8 88.7 54.1 61.0 %

Total gross profit $554.8 $320.5 $234.3 73.1 %

Gross margin:

New vehicle retail 9.4 %6.2 %3.2 % sales

Used vehicle retail 9.8 %7.6 %2.2 % sales

Used vehicle wholesale10.2 %5.2 %5.0 % sales

Total used 9.9 %7.5 %2.4 %

Parts and service 54.6 %53.3 %1.3 % sales

Total gross margin 19.2 %17.7 %1.4 %

Units sold:

Retail new vehicles 33,563 21,631 11,932 55.2 %sold

Retail used vehicles 33,665 25,691 7,974 31.0 %sold

Wholesale used 6,487 5,084 1,403 27.6 %vehicles sold

Total used 40,152 30,775 9,377 30.5 %

Average sales price per unit sold:

New vehicle retail $44,292 $41,786 $2,506 6.0 %

Used vehicle retail $26,005 $20,756 $5,249 25.3 %

Gross profit per unit sold:

New vehicle retail $4,173 $2,583 $1,591 61.6 %sales

Used vehicle retail $2,556 $1,577 $978 62.0 %sales

Used vehicle wholesale$956 $309 $648 NM sales

Total used $2,297 $1,368 $930 68.0 %

F&I PRU $2,125 $1,874 $250 13.4 %

Other:

SG&A expenses $309.4 $200.2 $109.2 54.6 %

Adjusted SG&A expenses$309.4 $189.7 $119.8 63.2 %^(1)

SG&A as % gross profit55.8 %62.5 %(6.7) %

Adjusted SG&A as % 55.8 %59.2 %(3.4) % gross 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Six Months Ended June 30,

2021 2020 Increase/(Decrease)% Change

Revenues:

New vehicle retail $2,732.3 $1,883.2 $849.1 45.1 %sales

Used vehicle retail 1,571.9 1,096.1 475.8 43.4 %sales

Used vehicle wholesale111.0 76.0 35.0 46.0 %sales

Total used 1,682.9 1,172.1 510.8 43.6 %

Parts and service 624.8 553.1 71.7 13.0 %sales

F&I, net 257.9 185.2 72.6 39.2 %

Total revenues $5,297.9 $3,793.6 $1,504.3 39.7 %

Gross profit:

New vehicle retail $221.0 $102.5 $118.5 115.6 %sales

Used vehicle retail 136.4 72.3 64.1 88.7 %sales

Used vehicle wholesale10.1 2.4 7.7 NM sales

Total used 146.5 74.7 71.8 96.2 %

Parts and service 344.3 295.6 48.7 16.5 %sales

F&I, net 257.9 185.2 72.6 39.2 %

Total gross profit $969.7 $658.1 $311.6 47.4 %

Gross margin:

New vehicle retail 8.1 %5.4 %2.6 % sales

Used vehicle retail 8.7 %6.6 %2.1 % sales

Used vehicle wholesale9.1 %3.2 %6.0 % sales

Total used 8.7 %6.4 %2.3 %

Parts and service 55.1 %53.5 %1.7 % sales

Total gross margin 18.3 %17.3 %1.0 %

Units sold:

Retail new vehicles 62,711 45,902 16,809 36.6 %sold

Retail used vehicles 64,090 52,971 11,119 21.0 %sold

Wholesale used 12,927 11,981 946 7.9 %vehicles sold

Total used 77,017 64,952 12,065 18.6 %

Average sales price per unit sold:

New vehicle retail $43,570 $41,026 $2,544 6.2 %

Used vehicle retail $24,526 $20,692 $3,835 18.5 %

Gross profit per unit sold:

New vehicle retail $3,524 $2,234 $1,291 57.8 %sales

Used vehicle retail $2,128 $1,364 $764 56.0 %sales

Used vehicle wholesale$785 $201 $583 NM sales

Total used $1,903 $1,150 $753 65.5 %

F&I PRU $2,034 $1,874 $160 8.6 %

Other:

SG&A expenses $571.5 $454.1 $117.3 25.8 %

Adjusted SG&A expenses$570.2 $443.6 $126.6 28.5 %^(1)

SG&A as % gross profit58.9 %69.0 %(10.1) %

Adjusted SG&A as % 58.8 %67.4 %(8.6) % gross 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Three Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $301.2 $126.2 $ 175.0 138.7% $ 32.9 112.6 %retail sales

Used vehicle 300.9 91.8 209.1 227.7% 32.7 192.1 %retail sales

Used vehicle 32.5 15.2 17.3 113.9% 3.6 90.5 %wholesale sales

Total 333.4 107.0 226.4 211.6% 36.3 177.7 %used

Parts and service 47.0 21.4 25.6 119.7% 5.1 95.8 %sales

F&I, net 15.7 6.3 9.5 151.1% 1.7 123.9 %

Total $697.3 $260.9 $ 436.5 167.3% $ 76.0 138.2 %revenues

Gross profit:

New vehicle $18.4 $5.8 $ 12.6 215.9% $ 2.0 181.4 %retail sales

Used vehicle 20.8 4.8 16.0 331.9% 2.3 285.1 %retail sales

Used vehicle 2.5 0.3 2.2 NM 0.3 NM wholesale sales

Total 23.3 5.2 18.2 351.5% 2.5 302.9 %used

Parts and service 29.2 11.7 17.5 149.3% 3.2 122.2 %sales

F&I, net 15.7 6.3 9.5 151.1% 1.7 123.9 %

Total gross $86.7 $29.0 $ 57.7 199.1% $ 9.4 166.6 %profit

Gross margin:

New vehicle 6.1 %4.6 %1.5 % retail sales

Used vehicle 6.9 %5.3 %1.7 % retail sales

Used vehicle 7.7 %2.3 %5.5 % wholesale sales

Total 7.0 %4.8 %2.2 % used

Parts and service 62.2 %54.8 %7.4 % sales

Total gross 12.4 %11.1 %1.3 % margin

Units sold:

Retail new 7,395 3,791 3,604 95.1 % vehicles sold

Retail used 10,494 3,969 6,525 164.4% vehicles sold

Wholesale used 4,124 1,809 2,315 128.0% vehicles sold

Total 14,618 5,778 8,840 153.0% used

Average sales price per unit sold:

New vehicle $40,727 $33,284 $ 7,443 22.4 % $ 4,4559.0 %retail

Used vehicle $28,672 $23,131 $ 5,541 24.0 % $ 3,11410.5 %retail

Gross profit per unit sold:

New vehicle $2,484 $1,533 $ 950 62.0 % $ 271 44.3 %retail sales

Used vehicle $1,984 $1,215 $ 770 63.3 % $ 215 45.7 %retail sales

Used vehicle $611 $192 $ 419 NM $ 64 NM wholesale sales

Total $1,597 $895 $ 702 78.5 % $ 172 59.2 %used

F&I PRU $879 $807 $ 72 8.9 % $ 95 (2.9) %

Other:

SG&A $54.9 $27.3 $ 27.5 100.7% $ 6.1 78.4 %expenses

Adjusted SG&A $54.9 $26.1 $ 28.8 110.1% $ 6.1 86.7 %expenses ^(1)

SG&A as % gross 63.3 %94.4 %(31.1) % profit

Adjusted SG&A as % gross 63.3 %90.2 %(26.8) % 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Six Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $564.2 $421.4 $ 142.8 33.9 % $ 52.2 21.5 %retail sales

Used vehicle 492.0 279.6 212.4 76.0 % 41.7 61.1 %retail sales

Used vehicle 60.3 51.0 9.3 18.3 % 5.0 8.5 %wholesale sales

Total 552.3 330.6 221.7 67.1 % 46.7 53.0 %used

Parts and service 101.8 74.1 27.7 37.3 % 8.4 25.9 %sales

F&I, net 26.3 19.5 6.8 35.0 % 2.4 22.8 %

Total $1,244.5 $845.5 $ 399.0 47.2 % $ 110.234.2 %revenues

Gross profit:

New vehicle $33.1 $17.8 $ 15.3 86.1 % $ 3.2 67.9 %retail sales

Used vehicle 29.0 13.9 15.1 108.3% 2.5 90.0 %retail sales

Used vehicle 2.4 0.3 2.1 NM 0.2 NM wholesale sales

Total 31.4 14.2 17.2 120.7% 2.8 101.2 %used

Parts and service 61.2 40.5 20.7 51.2 % 5.1 38.6 %sales

F&I, net 26.3 19.5 6.8 35.0 % 2.4 22.8 %

Total gross $152.0 $92.0 $ 60.0 65.3 % $ 13.5 50.6 %profit

Gross margin:

New vehicle 5.9 %4.2 %1.6 % retail sales

Used vehicle 5.9 %5.0 %0.9 % retail sales

Used vehicle 4.0 %0.6 %3.4 % wholesale sales

Total 5.7 %4.3 %1.4 % used

Parts and service 60.2 %54.6 %5.5 % sales

Total gross 12.2 %10.9 %1.3 % margin

Units sold:

Retail new 13,927 12,631 1,296 10.3 % vehicles sold

Retail used 17,580 11,922 5,658 47.5 % vehicles sold

Wholesale used 7,249 6,358 891 14.0 % vehicles sold

Total 24,829 18,280 6,549 35.8 % used

Average sales price per unit sold:

New vehicle $40,509 $33,363 $ 7,146 21.4 % $ 3,75010.2 %retail

Used vehicle $27,988 $23,452 $ 4,536 19.3 % $ 2,3709.2 %retail

Gross profit per unit sold:

New vehicle $2,379 $1,409 $ 969 68.8 % $ 232 52.3 %retail sales

Used vehicle $1,648 $1,167 $ 481 41.3 % $ 145 28.8 %retail sales

Used vehicle $333 $49 $ 284 NM $ 31 NM wholesale sales

Total $1,264 $778 $ 486 62.5 % $ 112 48.1 %used

F&I PRU $834 $793 $ 41 5.2 % $ 75 (4.3) %

Other:

SG&A $103.1 $85.1 $ 17.9 21.0 % $ 9.0 10.5 %expenses

Adjusted SG&A $103.1 $83.9 $ 19.1 22.8 % $ 9.0 12.1 %expenses ^(1)

SG&A as % gross 67.8 %92.6 %(24.8) % profit

Adjusted SG&A as % gross 67.8 %91.3 %(23.5) % 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Three Months Ended June 30,

Currency Impact onConstant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $49.8 $19.8 $ 30.0 151.8 %$ 0.6 148.5 %retail sales

Used vehicle 11.8 7.4 4.4 59.0 %0.1 57.2 %retail sales

Used vehicle wholesale 2.6 2.9 (0.2) (8.3) %0.1 (10.9) %sales

Total used 14.5 10.3 4.2 40.3 %0.2 38.1 %

Parts and 9.2 5.9 3.3 55.9 %0.1 53.4 %service sales

F&I, net 1.4 0.6 0.8 139.1 %- 136.2 %

Total $74.8 $36.6 $ 38.3 104.6 %$ 1.0 101.8 %revenues

Gross profit:

New vehicle $5.2 $1.4 $ 3.8 274.3 %$ 0.1 270.4 %retail sales

Used vehicle 1.0 0.4 0.6 128.5 %- 127.1 %retail sales

Used vehicle wholesale 0.2 0.1 0.1 149.8 %- 145.5 %sales

Total used 1.2 0.5 0.7 131.8 %- 130.0 %

Parts and 4.0 2.5 1.6 63.9 %0.1 61.5 %service sales

F&I, net 1.4 0.6 0.8 139.1 %- 136.2 %

Total gross $11.8 $4.9 $ 6.9 138.8 %$ 0.2 135.7 %profit

Gross margin:

New vehicle 10.4 %7.0 %3.4 % retail sales

Used vehicle 8.3 %5.8 %2.5 % retail sales

Used vehicle wholesale 7.6 %2.8 %4.8 % sales

Total used 8.2 %4.9 %3.2 %

Parts and 43.9 %41.8 %2.2 % service sales

Total gross 15.8 %13.5 %2.3 % margin

Units sold:

Retail new 1,451 694 757 109.1 % vehicles sold

Retail used 500 356 144 40.4 % vehicles sold

Wholesale used235 324 (89) (27.5)% vehicles sold

Total used 735 680 55 8.1 %

Average sales price per unit sold:

New vehicle $34,313 $28,495 $ 5,818 20.4 %$ 438 18.9 %retail

Used vehicle $23,671 $20,905 $ 2,766 13.2 %$ 273 11.9 %retail

Gross profit per unit sold:

New vehicle $3,578 $1,999 $ 1,579 79.0 %$ 38 77.1 %retail sales

Used vehicle $1,959 $1,204 $ 755 62.7 %$ 12 61.7 %retail sales

Used vehicle wholesale $850 $247 $ 603 NM $ 15 NM sales

Total used $1,605 $748 $ 856 114.5 %$ 13 112.8 %

F&I PRU $707 $550 $ 158 28.7 %$ 8 27.1 %

Other:

SG&A expenses $8.0 $5.6 $ 2.3 41.7 %$ 0.1 39.9 %

SG&A as % 67.6 %114.0 %(46.4) % gross profit

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Six Months Ended June 30,

Currency Impact on Constant Increase/ 2021 2020 % ChangeCurrent Currency % (Decrease) Period Change Results

Revenues:

New vehicle $83.9 $77.3 $ 6.7 8.6 %$(12.4) 24.7 %retail sales

Used vehicle 22.5 27.4 (4.9) (17.8)%(3.4) (5.4) %retail sales

Used vehicle 4.6 6.7 (2.1) (30.8)%(0.5) (23.3) %wholesale sales

Total 27.1 34.1 (7.0) (20.4)%(3.9) (9.0) %used

Parts and service 17.1 15.5 1.6 10.4 %(2.1) 24.2 %sales

F&I, net 2.8 2.3 0.5 20.1 %(0.4) 38.8 %

Total $130.9 $129.1 $ 1.8 1.4 %$(18.8) 16.0 %revenues

Gross profit:

New vehicle $8.6 $4.9 $ 3.7 75.1 %$(1.2) 100.2 %retail sales

Used vehicle 2.1 1.5 0.6 41.1 %(0.3) 61.8 %retail sales

Used vehicle 0.4 0.3 0.1 30.0 %(0.1) 47.8 %wholesale sales

Total 2.5 1.8 0.7 39.3 %(0.4) 59.5 %used

Parts and service 7.4 6.7 0.7 10.8 %(0.9) 25.0 %sales

F&I, net 2.8 2.3 0.5 20.1 %(0.4) 38.8 %

Total gross $21.2 $15.6 $ 5.6 35.5 %$(2.9) 54.3 %profit

Gross margin:

New vehicle 10.2 %6.3 %3.9 % retail sales

Used vehicle 9.3 %5.4 %3.9 % retail sales

Used vehicle 7.9 %4.2 %3.7 % wholesale sales

Total 9.1 %5.2 %3.9 % used

Parts and service 43.3 %43.1 %0.1 % sales

Total gross 16.2 %12.1 %4.1 % margin

Units sold:

Retail new 2,622 2,665 (43) (1.6) % vehicles sold

Retail used 1,016 1,454 (438) (30.1)% vehicles sold

Wholesale used 469 799 (330) (41.3)% vehicles sold

Total 1,485 2,253 (768) (34.1)% used

Average sales price per unit sold:

New vehicle $32,011 $28,994 $ 3,017 10.4 %$(4,728)26.7 %retail

Used vehicle $22,143 $18,828 $ 3,315 17.6 %$(3,334)35.3 %retail

Gross profit per unit sold:

New vehicle $3,273 $1,839 $ 1,434 78.0 %$(469) 103.5 %retail sales

Used vehicle $2,055 $1,018 $ 1,037 101.9 %$(301) 131.5 %retail sales

Used vehicle $788 $356 $ 432 NM $(108) NM wholesale sales

Total $1,655 $783 $ 872 111.4 %$(240) 142.0 %used

F&I PRU $758 $557 $ 200 35.9 %$(118) 57.2 %

Other:

SG&A $15.1 $16.2 $ (1.0) (6.5) %$(1.9) 5.3 %expenses

Adjusted SG&A $15.1 $15.3 $ (0.2) (1.1) %$(1.9) 11.6 %expenses ^(1)

SG&A as % gross 71.4 %103.5 %(32.1) % profit

Adjusted SG&A as % gross 71.4 %97.8 %(26.4) % 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.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Three Months Ended June 30, 2021

Non-cash loss Dealership and Tax rate Non-GAAP U.S. GAAPon interest ratereal estate changes adjusted swaps transactions

SG&A expenses$376.7 $ - $0.8 $- $377.5

Income (loss) from $265.8 $ - $(0.8) $- $264.9 operations

Floorplan interest $8.8 $ (2.3) $- $- $6.5 expense



Income (loss) before income$243.2 $ 2.3 $(0.8) $- $244.8 taxes

Less: Provision 52.3 0.5 (0.2) 1.9 54.6 (benefit) for income taxes

Net income 191.0 1.8 (0.6) (1.9) 190.2 (loss)

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

Net income (loss) available to $184.5 $ 1.7 $(0.6) $(1.8) $183.8 diluted common shares



Diluted income (loss)$10.35 $ 0.10 $(0.03) $(0.10)$10.31 per common share



Effective tax21.5 % 22.3 %rate



SG&A as % gross profit 57.0 % 57.1 %^(1)

Operating 7.2 % 7.2 %margin ^(2)

Pretax margin6.6 % 6.6 %^(3)

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

^(2) Adjusted operating margin excludes the impact of SG&A reconciling itemsabove.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items aboveand a non-cash loss on interest rate swaps.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Three Months Ended June 30, 2020

Loss on SeveranceOut-of-periodAsset Non-GAAP U.S. GAAP extinguishment costs adjustment impairments adjusted of debt

SG&A expenses $237.2 $ (1.2)$(10.6) $- $ - $225.4

Asset $23.8 $ - $- $(23.8) $ - $- impairments

Income from $79.0 $ 1.2 $10.6 $23.8 $ - $114.6 operations

Loss on extinguishment $10.4 $ - $- $- $ (10.4) $- of debt



Income before $42.3 $ 1.2 $10.6 $23.8 $ 10.4 $88.3 income taxes

Less: Provision 12.2 0.2 0.8 3.3 2.2 18.7 for income taxes

Net income 30.2 1.0 9.7 20.6 8.1 69.6

Less: Earnings allocated to 1.1 - 0.4 0.7 0.3 2.5 participating securities

Net income available to $29.1 $ 1.0 $9.4 $19.8 $ 7.8 $67.1 diluted common shares



Diluted income $1.63 $ 0.05 $0.53 $1.11 $ 0.44 $3.77 per common share



Effective tax 28.7 % 21.2 %rate



SG&A as % gross 66.1 % 62.8 %profit ^(1)

Operating margin3.7 % 5.4 %^(2)

Pretax margin ^ 2.0 % 4.1 %(3)



Same Store SG&A $233.2 $ (1.2)$(10.6) $- $ - $221.4 expenses

Same Store SG&A as % gross 65.8 % 62.5 %profit^ (1)



Same Store income from $79.1 $ 1.2 $10.6 $23.8 $ - $114.7 operations

Same Store operating margin3.8 % 5.4 %^ (2)

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

^(2) Adjusted operating margin excludes the impact of SG&A reconciling itemsabove, as well as asset impairment charges.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items andasset impairment charges, as well as loss on extinguishment of debt.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Six Months Ended June 30, 2021

Non-cash Dealership loss on Catastrophicand real Legal Tax rate Non-GAAP U.S. GAAP interest rateevents estate matters changes adjusted swaps transactions

SG&A expenses$695.2 $ - $ (2.2) $1.1 $1.0 $- $695.0

Income (loss) from $418.5 $ - $ 2.2 $(1.1) $(1.0) $- $418.6 operations

Floorplan interest $16.4 $ (2.3) $ - $- $- $- $14.0 expense



Income (loss) before income$374.6 $ 2.3 $ 2.2 $(1.1) $(1.0) $- $377.1 taxes

Less: Provision 81.7 0.5 0.5 (0.3) (0.2) 1.9 84.2 (benefit) for income taxes

Net income 292.9 1.8 1.7 (0.8) (0.8) (1.9) 292.9 (loss)

Less: Earnings (loss) 9.9 0.1 0.1 - - (0.1) 9.9 allocated to participating securities

Net income (loss) available to $283.0 $ 1.7 $ 1.7 $(0.8) $(0.7) $(1.8) $283.0 diluted common shares



Diluted income (loss)$15.88 $ 0.10 $ 0.09 $(0.05) $(0.04)$(0.10)$15.87 per common share



Effective tax21.8 % 22.3 %rate



SG&A as % gross profit 60.3 % 60.3 %^(1)

Operating 6.2 % 6.2 %margin ^(2)

Pretax margin5.6 % 5.6 %^(3)



Same Store SG$689.6 $ - $ (2.2) $- $1.0 $- $688.4 &A expenses

Same Store SG &A as % gross60.3 % 60.2 %profit ^(1)



Same Store income (loss)$415.6 $ - $ 2.2 $- $(1.0) $- $416.8 from operations

Same Store operating 6.2 % 6.2 %margin ^(2)

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

^(2) Adjusted operating margin excludes the impact of SG&A reconciling itemsabove.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items aboveand a non-cash loss on interest rate swaps.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Six Months Ended June 30, 2020

Loss on SeveranceOut-of-periodAsset Non-GAAP U.S. GAAP extinguishment costs adjustment impairments adjusted of debt

SG&A expenses $565.1 $ (2.1)$(10.6) $- $ - $552.5

Asset $23.8 $ - $- $(23.8) $ - $- impairments

Income from $148.9 $ 2.1 $10.6 $23.8 $ - $185.4 operations

Loss on extinguishment $10.4 $ - $- $- $ (10.4) $- of debt



Income before $81.2 $ 2.1 $10.6 $23.8 $ 10.4 $128.1 income taxes

Less: Provision 21.3 0.3 0.8 3.3 2.2 27.9 for income taxes

Net income 60.0 1.8 9.7 20.6 8.1 100.2

Less: Earnings allocated to 2.1 0.1 0.4 0.7 0.3 3.6 participating securities

Net income available to $57.8 $ 1.7 $9.4 $19.8 $ 7.8 $96.6 diluted common shares



Diluted income $3.25 $ 0.10 $0.53 $1.11 $ 0.44 $5.42 per common share



Effective tax 26.2 % 21.8 %rate



SG&A as % gross 72.9 % 71.3 %profit ^(1)

Operating margin3.1 % 3.8 %^(2)

Pretax margin ^ 1.7 % 2.7 %(3)



Same Store SG&A $555.5 $ (2.1)$(10.6) $- $ - $542.8 expenses

Same Store SG&A as % gross 72.5 % 70.9 %profit ^(1)



Same Store income from $149.8 $ 2.1 $10.6 $23.8 $ - $186.3 operations

Same Store operating margin3.1 % 3.9 %^(2)

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

^(2) Adjusted operating margin excludes the impact of SG&A reconciling itemsabove, as well as asset impairment charges.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items andasset impairment charges, as well as loss on extinguishment of debt.

Group 1 Automotive, Inc.

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

(Unaudited)

(In millions)



Three Months Ended June 30, 2021

Dealership and Non-GAAP U.S. GAAPreal estate adjusted transactions

SG&A expenses $312.6 $ 0.8 $313.4

SG&A as % gross profit ^(1) 55.7 % 55.9 %



Same Store SG&A expenses $309.4 $ - $309.4

Same Store SG&A as % gross profit ^(1)55.8 % 55.8 %



Three Months Ended June 30, 2020

Out-of-period Non-GAAP U.S. GAAP adjustment adjusted

SG&A expenses $203.3 $ (10.6) $192.7

SG&A as % gross profit^ (1) 62.6 % 59.4 %



Same Store SG&A expenses $200.2 $ (10.6) $189.7

Same Store SG&A as % gross profit ^(1)62.5 % 59.2 %



Six Months Ended June 30, 2021

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

SG&A $574.3 $ (2.2) $ 1.7 $1.0 $574.7 expenses

SG&A as % gross 58.8 % 58.9 %profit ^ (1)



Same Store SG&A $571.5 $ (2.2) $ - $1.0 $570.2 expenses

Same Store SG&A as % gross 58.9 % 58.8 %profit ^ (1)



Six Months Ended June 30, 2020

Out-of-periodNon-GAAP U.S. GAAP adjustment adjusted

SG&A expenses $460.8 $(10.6) $450.2

SG&A as % gross profit ^(1) 69.2 % 67.7 %



Same Store SG&A expenses $454.1 $(10.6) $443.6

Same Store SG&A as % gross profit ^(1)69.0 % 67.4 %

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

Group 1 Automotive, Inc.

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

(Unaudited)

(In millions)



Three Months Ended June 30, 2020

U.S. Non-GAAP GAAP Severance costs Adjusted

SG&A expenses $28.3 $(1.2) $27.1

SG&A as % gross profit ^(1) 96.2 % 92.1 %



Same Store SG&A expenses $27.3 $(1.2) $26.1

Same Store SG&A as % gross profit ^(1) 94.4 % 90.2 %



Six Months Ended June 30, 2021

Dealership and Non-GAAP U.S. GAAPreal estate Adjusted transactions

SG&A expenses $105.7 $ (0.6) $105.1

SG&A as % gross profit ^(1) 68.4 % 68.1 %



Same Store SG&A expenses $103.1 $ - $103.1

Same Store SG&A as % gross profit ^(1)67.8 % 67.8 %



Six Months Ended June 30, 2020

U.S. Non-GAAP GAAP Severance costs Adjusted

SG&A expenses $88.2 $(1.2) $86.9

SG&A as % gross profit ^(1) 93.5 % 92.2 %



Same Store SG&A expenses $85.1 $(1.2) $83.9

Same Store SG&A as % gross profit ^(1) 92.6 % 91.3 %

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

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Brazil

(Unaudited)

(In millions)



Six Months Ended June 30, 2020

U.S. Non-GAAP GAAP Severance costs adjusted

SG&A expenses $16.2 $(0.9) $15.3

SG&A as % gross profit ^(1) 103.8 % 98.2 %



Same Store SG&A expenses $16.2 $(0.9) $15.3

Same Store SG&A as % gross profit^ (1) 103.5 % 97.8 %

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

View original content: https://www.prnewswire.com/news-releases/group-1-automotive-announces-record-second-quarter-2021-financial-results-301343858.html

SOURCE Group 1 Automotive, Inc.