(BFM Bourse) – The pioneer of online driving schools intends to become a leader in driving lessons on a dematerialized platform over time.
Lepermislibre on track to become the first IPO of the year on the Paris market? The company would then have the difficult task of revitalizing the devastated market in 2022.
Billed as the pioneer of online driving schools, the company aims to revolutionize learning the rules of the road and driving in the digital age. The company explains that it offers an educational offer that is “a break with traditional players”, closer to the new uses and lifestyles of the generation that grew up with the development of digital technology. Lepermislibre is the first online driving school approved by the state in 2014.
The company says it will multiply turnover by 7 between 2019 and 2021 and aims to become the French leader in online driver education. It is precisely to finance the acceleration of its growth that Lepermislibre is currently piloting its IPO project. The Financial Markets Authority (AMF) has just registered the reference document of Lepermislibre, the first step towards introducing Euronext Growth Paris.
“Traditional driving school, like other industries before, is no longer adapted to the new needs of this generation digital natives and it has to be completely reinvented, even though the driving license is the first exam in France before matriculation! It was this observation that led to the creation of our company in Lyon more than 8 years ago,” explain Lucas Tournel and Romain Durand, co-founders of Lepermislibre.
Licensing: first exam in France before matriculation
Getting a driver’s license is a true rite of passage into adulthood and a step towards independence. For some, this stage of life represents a real test towards social and professional integration, making it the first test before graduation. “Today, this key is considered essential for 86% of young people between the ages of 18 and 26, as it is at the same time a passport to employment, facilitates social and economic integration and is synonymous with autonomy and independence for the winners,” recalls Lepermislibre.
More than 1.2 million candidates apply for the rare ticket each year. The company estimates this market in France at around 2.2 billion euros and expects its proprietary platform to offer an offer closer to the new uses and lifestyles of the generation that grew up with the development of digital technology.
Lepermislibre brings together a community of 900 teachers and offers flexible training with “unprecedented freedom to consume driving hours, seven days a week, from 6:00 a.m. to 11:00 p.m., from more than 500 cities in France and in 1,480 meeting places, allowing one to separate. from the limitations of time and place.”
“These advantages, combined with a price 30% cheaper than a traditional driving school, have already attracted more than 360,000 candidates registered on the platform since its inception for compliance with road rules and driving training,” adds the Company.
In 2021 alone, Lepermislibre says it has supported 110,000 driving test candidates, an increase of 44% compared to 2020. Over the past three years, the company reports achieving a 7x “purely organic” activity. In 2021, Lepermislibre achieved a turnover of 12.1 million euros, an increase of 182% compared to the previous year, and 14.8 million euros (no data, audited) in 2022.
Become the French leader in driver education
Lepermislibre considers itself ready to take a new step in its development. To achieve this, the company intends to follow an “offensive strategy” structured around 3 main axes that it considers strategic. Lepermislibre intends to accelerate its notoriety on the national territory through poster campaigns and specialized communication events.
It also plans to thicken its geographic coverage by now focusing on cities with less than 50,000 inhabitants where Lepermislibre has little or no presence. The company also plans to develop a network of partner teachers in larger cities where it is already established.
Accelerating the growth of Lepermislibre also includes the enrichment and diversification of the offer. From the second half of 2022, the company has accelerated the rollout of its brokerage offer and plans to launch its own insurance offer integrating the potential of data while focusing on drivers, in cooperation with a major player in the sector, at the end of 2023.
The strategy presented by Lepermislibre should allow it to reach operating profitability (at the level of gross operating profit, EBITDA) at the end of 2024 and from 2025 to achieve a turnover between 45 and 50 million euros with a gross margin of more than 30%. The target presented by the company expresses a weighted average growth rate (CAGR) of approximately 40% per year from 2021 to 2025.
Sabrina Sadgui – ©2023 BFM Bourse