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AUTO1 Group reports double digit growth and its most profitable quarter

Berlin, July 31 2024

Berlin, July 31, 2024 – AUTO1 Group SE, Europe’s leading digital automotive platform for buying and selling used cars, today reported strong results across all metrics, delivering double digit unit growth, its highest ever adjusted EBITDA and record gross profit.

Result Highlights for the second quarter

• Units sold grew to 166,292, up 17% year over year
• Record gross profit of EUR 173.3 million, up 36% year over year
• Record adjusted EBITDA of EUR 20.7 million, an improvement of EUR 35.6 million compared to Q2 2023
• Record Merchant gross profit of EUR 136.4 million, up 32% year over year
• Record Merchant gross profit per unit of EUR 918, up 13% year over year
• Record Retail gross profit of EUR 36.9 million, up 50% year over year
• Record Retail gross profit per unit of EUR 2,077, up 24% year over year

Christian Bertermann, CEO and Co-founder of AUTO1 Group: "Q2 was a very strong quarter across the firm, driven by the increased demand for our products. As we move into the second half of 2024, we are excited to continue our momentum while our team keeps delivering exceptional customer experiences."

Markus Boser, CFO of AUTO1 Group: “We are in a very strong financial position, outperforming our ambitious financial targets in Q2. After quarter end we reached a major milestone in our captive finance business by successfully issuing our first-ever securitisation of German consumer car loans to the public market. We are proud of our team for their excellent work and dedication to support the ongoing growth of our business.”

Second quarter business performance

The Group sold 166,292 units in total in Q2, up 17% year over year, generating revenue of EUR 1.5 billion, up 13% year over year. The Group reported EUR 173.3 million record gross profit, up 36% year over year. AUTO1 Group achieved the highest adjusted EBITDA in company history of EUR 20.7 million in Q2, an improvement of EUR 35.6 million year over year.

The Merchant segment AUTO1.com sold 148,598 vehicles to partner dealers, up 17% year over year, and delivered GPU of EUR 918, up 13% year over year. Merchant revenue was EUR 1.2 billion, up 10% year over year and gross profit was EUR 136.4 million, up 32% year over year.

AUTO1 Group’s Retail business Autohero sold 17,694 units, up 23% year over year, generating revenue of EUR 290.0 million, up 28% year over year. Retail gross profit was EUR 36.9 million, up 50% year over year and Autohero reported GPU of EUR 2,077, up 24% year over year.

Financial Outlook

AUTO1 Group updated its full-year unit guidance, with a target of 620,000 - 665,000 units sold, with 550,000 - 595,000 units sold in its Merchant segment and around 70,000 units sold in its Retail segment.

The Group increased its gross profit guidance to EUR 610 - 680 million with an improved adjusted EBITDA target of EUR 45 - 65 million for the full year.

The Group’s financial results for the second quarter 2024 can be found in the company’s quarterly trading update presentation in the Investor Relations section of the AUTO1 Group homepage.

AUTO1 Group will publish its half-year financial report for 2024 on 11 September 2024.

About AUTO1 Group
Founded in 2012, AUTO1 Group is a multi-brand technology company that is building the best way to buy and sell cars. Its local European consumer brands like wirkaufendeinauto.de offer consumers the fastest and easiest way to sell their car. Its merchant brand, AUTO1.com, is Europe's largest wholesale platform for car trading professionals. With its retail brand Autohero, AUTO1 Group is using its technology, scale and operational excellence to develop the best consumer experience to buy a used car. AUTO1 Group is operating in over 30 countries and generated a revenue of EUR 5.5 billion in 2023. Following its successful IPO in February 2021, the group's shares are trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol AG1 and the ISIN DE000A2LQ884.

For more information please visit www.auto1-group.com

Investor Relations Contact
Philip Reicherstorfer
Group Treasurer
Phone: +49 (0)30 - 2016 38 213
Email: ir@auto1-group.com

Media Contact
Christine Preyer
Director PR & Communications
Phone: +49 175 64 59 192
Email: press@auto1-group.com

This publication contains forward-looking statements based on current views and assumptions of AUTO1 Group’s management and made to the best of such management’s knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause AUTO1 Group’s revenues, profitability or the degree to which it performs or achieves its targets to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. AUTO1 Group accepts no guarantee or responsibility regarding forward-looking statements and will not adjust them to future results or developments.