Auto Trader : H1 2023 EBIT a shade below our forecasts and H2 driven by used vehicle sales
>Neutral recommendation reiterated - Yesterday, Auto Trader published H1 2023 results which came in a shade below our forecasts with EBIT of £ 149m vs £ 154m estimated. The main difference with forecasts stemmed from the consolidation with Autorama (June 2022) which posted a loss of -£ 4m over the period. The group held a conference call during which it delivered a confident message on 2023 due to the recurring nature of revenues and a good H1. This publication illust...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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