Auto Trader : 2020-21 results topped expectations, slight upgrade to our 2021-22 estimates, Neutral recommendation reiterated
>Slight upward revision to our FY 2021-22 estimates, Neutral recommendation reiterated - Auto Trader held its conference call yesterday following its preliminary results publication for FY 2020-21 (end-March), which were ahead of expectations (£ 262.8m vs £ 255.8m for sales, £ 161.0m vs £ 155.8m for EBIT).We are marginally lifting our expectations for ARPR, sales and the EBIT margin (£ 2,104 vs £ 2,073, £ 403m vs £ 393.5m, 70% v 69% respectively). We reiterate ou...Auto Trader Group operates a digital automotive marketplace. Consumers can search from around 450,000 used cars and 6,000 new cars on the marketplace each month, using a standard make/model search or via discovery search if they aren't sure of the exact vehicle they want. In addition, Co. provides consumers services to help them make an informed decision about the car they are looking to buy, these include: vehicle check, finance, and insurance. Co. also provides free vehicle valuations providing both a private sale price as well as a part-exchange price. Furthermore, Co. provides retailers display advertising packages so they can promote their business as well as individual vehicles.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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