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DGAP-News: AUTO1 Group SE
/ Key word(s): Quarter Results
AUTO1 Group SE: AUTO1 Group reports strong Q2 growth and increases revenue guidance for 2022 Autohero crosses IPO target of EUR 1,000 GPU twelve months early
Berlin, August 3, 2022 – AUTO1 Group, Europe’s largest trader of used cars, today announced its financial results for the second quarter of 2022. Following a powerful start to the year, AUTO1 continues to deliver strong growth across all key metrics driven by the ongoing success of its digital business model. AUTO1 Group outgrew the used car market by 37%, demonstrating the power of its platform and its ability to take market share. The Group increased the number of cars sold to 166,147 (Q2 2021: 142,715) and increased revenues by 63.1% year-on-year to EUR 1.74 billion (Q2 2021: EUR 1.07 billion), with gross profit up 27.3% year-on-year to EUR 126.4 million (Q2 2021: EUR 99.3 million). AUTO1’s Merchant business continued on its solid strong path, registering a 12.0% year-on-year increase to 150,377 units (Q2 2021: 134,300 units) and further strengthening its position as the central player in the EU used car market. Revenues and gross profit in the merchant segment rose to EUR 1.47 billion (Q2 2021: EUR 951.0 million) and EUR 110.1 million (Q2 2021: EUR 96.2 million), which corresponds to an increase of 54.3% and 14.4% respectively. AUTO1 Group maintains very strong liquidity with cash on balance sheet of EUR 640 million and unutilised commitments under its ABS lines of EUR 375 million. AUTO1 Group is well funded to achieve its goal of Adjusted EBITDA profitability by Q4 2023. Christian Bertermann, CEO and Co-founder of AUTO1 Group: "Following our strong start into 2022, the second quarter has again been very successful for us. With our unique business model, we are creating outstanding customer experiences and are well on track in building the largest and most profitable car dealer in the EU. We have reached an important milestone in improving Autohero's profitability by achieving our EUR 1,000 GPU target one year early. We are pleased to increase our revenue guidance for 2022 and are making good progress to our goal of adjusted EBITDA profitability by Q4 2023.” Financial Outlook AUTO1 Group increases its revenue guidance from EUR 5.7 to 6.8 billion to a range between EUR 6.0 and 7.0 billion. The gross profit range of EUR 470-580 million with an adjusted EBITDA margin between -2.0% and -3.0% remain unchanged. AUTO1 Group - Key Figures:
The Group’s comprehensive 2022 Q2 financial results can be found in the company’s quarterly results presentation in the Investor Relations section of the AUTO1 Group homepage. The H1 2022 financial report will be published on 13 September. About AUTO1 Group Founded in 2012, AUTO1 Group is a multi-brand technology company that is building the best way to buy and sell cars online. Its local European consumer brands like wirkaufendeinauto.de offer consumers the fastest and easiest way to sell their car. Its merchant brand, AUTO1.com, is Europe’s largest wholesale platform for car trading professionals. With its retail brand Autohero, AUTO1 Group is using its technology, scale and operational excellence to develop the best consumer experience to buy a car online. AUTO1 Group is operating in over 30 countries and achieved revenues of €4.78 billion in 2021. Following its successful IPO in February 2021, the group’s shares are trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol AG1 and the ISIN DE000A2LQ884. For more information please visit Investor Relations contact Alexander Enge Senior Manager Investor Relations Phone: +49 (0)30 - 2016 38 213 Email: Media contact Knut Engelmann Kekst CNC Phone: 8 Email: AUTO1 Group SE | Bergmannstrasse 72 | 10961 Berlin | Germany
Note: Q2 2022 refers to the three month period from Apr 1, 2022 to June 30, 2022
This publication contains forward-looking statements based on current views and assumptions of AUTO1 Group’s management and made to the best of such management’s knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause AUTO1 Group’s revenues, profitability or the degree to which it performs or achieves its targets to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. AUTO1 Group accepts no guarantee or responsibility regarding forward-looking statements and will not adjust them to future results or developments.
03.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | AUTO1 Group SE |
| Bergmannstraße 72 | |
| 10961 Berlin | |
| Germany | |
| Internet: | -group.com/de/ |
| ISIN: | DE000A2LQ884 |
| WKN: | A2LQ88 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 1411933 |
| End of News | DGAP News Service |
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1411933 03.08.2022
