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AUTO1 Group reports strong Q1 growth as Autohero retail offering takes off
Berlin, 19 May 2021
● Revenue of €900 million, demonstrating strong performance in the face of ongoing
● Autohero retail business grows by 87% quarter-on-quarter with 7,815 units sold
● Merchant sold 122,722 units, an increase of 9% from Q4 2020
● AUTO1 confirms 2021 guidance of generating full-year revenue of €3.8-4.2 Billion
Berlin, 19.05.2021 – AUTO1 Group, Europe's leading platform for buying and selling used cars online, today announced financial results for the first quarter ended 31 March 2021, showing substantial growth across its digital business and significant progress against key objectives, including hyper-growth in its Autohero retail brand.
Christian Bertermann, CEO and Co-founder of AUTO1 Group: “Following our successful IPO in February, we have been laser-focused on delivering on our key objectives for 2021, and I am very proud of the progress we have made, defying the effects of continued Covid-19-related lockdowns in many of our markets. Our first-quarter numbers once again show healthy growth across the business. We are particularly happy to see our Autohero retail offering taking off with such vigor. Given our first-quarter performance, we are very optimistic for the coming months.”
Autohero, the first fully digital used car retailer for consumers in Europe, saw particularly strong growth, with the number of units sold via Autohero surging almost 87% to 7,815 units from 4,187 units in the fourth quarter of 2020. AUTO1 Group’s merchant segment also showed strong growth and defied the impact of continued Covid-19-related lockdowns in many of its markets with an increase in C2B units to 106,140 units, up 8% from the fourth quarter of 2020, and units in the remarketing channel up 12% from the previous quarter to 16,582 units.
AUTO1 Group – Q1 2021 key figures
AUTO1 Group confirmed its target of full-year 2021 revenue of between €3.8 billion and €4.2 billion and a gross profit in the range of €360-410 million with an Adjusted EBITDA margin of (2-2.5%). The Group continues to aim for a target of 592,000-638,000 units sold, with 32,000-38,000 units sold in its fast-growth Autohero retail segment. Within these ranges, we expect Autohero to achieve unit sales in the upper half of the range, while the Adjusted EBITDA margin is expected at the lower end of the guided range.
AUTO1’s complete first quarter 2021 financial results can be found by accessing the company’s quarterly report and results presentation on the quarterly results page in the Investor Relations section of the company’s homepage.
AUTO1 Group’s H1 2021 trading update is scheduled for release on 6 August 2021.
AUTO1 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, and are included
in the S-Dax Index.
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 online. 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 car
online. AUTO1 Group is operating in over 30 countries and achieved revenues of €2.8 billion in 2020.