Report
AUTO1 : Progress towards achieving breakeven, but no growth
>Underperform rating and target price of € 7 reiterated - AUTO1 was down 8% on the stock market yesterday following the downward revision to the number of vehicles sold in 2023 (625k +/-5% vs 625-690k previously), raising questions about the group’s ability to continue to grow its Autohero platform (fall in sales of 9% y-o-y in Q2, the first quarter to see a y-o-y decline since the IPO) while making profitability a priority. We leave our gross profit estimate unchange...
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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