AUTO1 Group SE

AG1

Equity

ISIN DE000A2LQ884 / Valor 59474167

Xetra (2024-09-18)

EUR 8.62-0.12%

AUTO1 Group SE
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About company

AUTO1 Group SE is a prominent digital automotive platform in Europe, catering to both individual consumers and professional car dealers looking to buy and sell used cars. The company operates various websites and apps that facilitate the buying and selling process, offering two distinct car-buying channels for sourcing vehicles. Through its network of brands like wirkaufendeinauto.de, AUTO1 Group provides consumers with a convenient way to sell their used cars, while also offering Remarketing solutions for dealers to sell their inventory. The cars sourced through these channels are then made available on AUTO1 Group's consumer brand Autohero and its wholesale platform for dealers, AUTO1.com.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Record Gross Profit

In Q1 2024, AUTO1 Group SE achieved its highest gross profit in a quarter, amounting to EUR 162.9 million. This represents a significant increase of EUR 30.9 million compared to the same period in the previous year. The gross profit per unit also saw a notable rise, reaching EUR 993, which is EUR 157 higher than Q1 2023.

Adjusted EBITDA Improvement

AUTO1 Group SE reported its best adjusted EBITDA in Q1 2024, amounting to EUR 17 million. This marks an improvement of EUR 42.1 million compared to the previous year's quarter, where the adjusted EBITDA was EUR -25.1 million. The adjusted EBITDA margin for Q1 2024 stood at 1.2%, driven by higher gross profit and reduced expenses.

Merchant Segment Performance

The Merchant segment saw a 5% increase in the number of vehicles sold, totaling 146,625 units in Q1 2024. However, revenues in this segment decreased by 4% to EUR 1,177.9 million, primarily due to lower average sales prices. The gross profit in the Merchant segment increased significantly by EUR 22.2 million to EUR 129.1 million, with a gross profit per unit of EUR 881.

Retail Segment Growth

In the Retail segment, AUTO1 Group SE's gross profit increased from EUR 25 million in Q1 2023 to EUR 33.8 million in Q1 2024. Despite a decrease in the number of vehicles sold by 938 units to 17,141, the gross profit per unit rose by EUR 607. This growth was attributed to reduced refurbishment costs and additional services offered to Autohero customers.

Net Loss Reduction

AUTO1 Group SE significantly reduced its consolidated loss in Q1 2024 to EUR -3.5 million, compared to EUR -44.1 million in Q1 2023. For the first time in a quarter, the company achieved a positive adjusted net result of EUR 1.2 million, reflecting improved profitability and cost management.

Summarized from source with an LLMView Source

Key figures

25.0%1Y

-72.7%3Y

%5Y

Performance

59.9%1Y

61.1%3Y

58.4%5Y

Volatility