Stern Groep is one of the largest automotive groups in the Netherlands. With around 61 dealer and Stern Point car repair locations and revenues of almost €900m, it is the fifth car retailer group in the Netherlands. The company had 1,674 full- and part-time employees at year end 2020. In this video, CEO Henk van der Kwast explains the impact of technology trends like the increase in online business models, the electrification of car fleets and changes in ownership patterns such as private leases or car sharing on Stern Groep’s business model, as well as the impact of the pandemic.
The company has already undergone a radical shift in the last few years – from being the largest car dealer ship in the Netherlands with a large leasing division to a much more focused smaller organisation with fewer dealerships, more online and a higher service component with higher margins. Mr van der Kwast explains what we can expect from the company in the next few years, where growth should originate, how he thinks investors should view the stock, as well as the potential triggers.