Auto Trader : 2021-22 results below our expectations but still a solid model
>Neutral rating maintained - Auto Trader reported its 2021-22 results (to end-March), followed by a conference call. Its results fell short of our expectations, with EBIT of £ 303.6m while we forecast £ 388m, with cost inflation exceeding that expected in our model. The conference call confirmed a respectable trend in the automotive sector which has continued into H1. The group also confirmed a good start to the year, with a good showing in April and conveyed a conf...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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