Report
AUTO1 : Complex year ahead for 2023 and uncertain profitability
>Underperform reiterated, TP of € 6 maintained - In view of the sharp fall in prices in Q4, we have lowered our 2023e revenue estimates and now expect a drop of 12% (vs. -5% previously), and are at the lower end of the range in terms of gross profit (€ 500m vs. € 514m previously), due to the negative effect of the decline in prices on gross profit per unit (GPU). We have also lowered our estimates in terms of vehicles sold on Autohero (67,000 vs. 85,000), on the basis...
Underlying
AUTO1 Group
Provider
Oddo BHF
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.
Martin Marandon-Carlhian
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