Communiqués de presse
AUTO1 Group SE: AUTO1 Group reports strong Q2 growth and increases revenue guidance for 2022
Berlin, 3. August 2022
• AUTO1 Group Q2 2022 revenue up 63.1% YoY at EUR 1.74 billion, gross profit up 27.3% YoY to EUR 126.4 million
• Autohero quintuples its gross profit, grows units 87% and more than doubles revenue YoY, while improving its strong customer satisfaction levels
• AUTO1 Group’s Merchant business continues its solid growth track record, with units up 12.0% YoY at 150,377 units and revenue up 54.3% YoY to EUR 1.47 billion
• AUTO1 Group is well funded with over EUR 640 million of cash and no corporate debt to achieve its goal of adjusted EBITDA profitability by Q4 2023
• AUTO1 Group increases revenue guidance for 2022
Berlin, August 3, 2022 – AUTO1 Group, Europe’s largest trader of used cars, today announced its financial results for the second quarter of 2022. Following a powerful start to the year, AUTO1 continues to deliver strong growth across all key metrics driven by the ongoing success of its digital business model.
AUTO1 Group outgrew the used car market by 37%, demonstrating the power of its platform and its ability to take market share. The Group increased the number of cars sold to 166,147 (Q2 2021: 142,715) and increased revenues by 63.1% year-on-year to EUR 1.74 billion (Q2 2021: EUR 1.07 billion), with gross profit up 27.3% year-on-year to EUR 126.4 million (Q2 2021: EUR 99.3 million).
Autohero, the leading digital used car retailer for consumers in the EU, significantly improved its gross profit per unit (GPU) while once again growing units and revenue. The number of units sold via Autohero surged by 87.4% year-on-year to 15,770 units (Q2 2021: 8,415 units) while more than doubling revenue to EUR 269.9 million (Q2 2021: EUR 114.1 million). Compared to Q2 2021, Autohero grew its GPU by over 185% year-on-year to EUR 1,035 (Q2 2021: EUR 363). Achieving a GPU of EUR 1,000 in 2023 was a key target communicated at IPO, which Autohero has delivered one year ahead of expectation.
AUTO1’s Merchant business continued on its solid strong path, registering a 12.0% year-on-year increase to 150,377 units (Q2 2021: 134,300 units) and further strengthening its position as the central player in the EU used car market. Revenues and gross profit in the merchant segment rose to EUR 1.47 billion (Q2 2021: EUR 951.0 million) and EUR 110.1 million (Q2 2021: EUR 96.2 million), which corresponds to an increase of 54.3% and 14.4% respectively.
AUTO1 Group maintains very strong liquidity with cash on balance sheet of EUR 640 million and unutilised commitments under its ABS lines of EUR 375 million. AUTO1 Group is well funded to achieve its goal of Adjusted EBITDA profitability by Q4 2023.
Christian Bertermann, CEO and Co-founder of AUTO1 Group: "Following our strong start into 2022, the second quarter has again been very successful for us. With our unique business model, we are creating outstanding customer experiences and are well on track in building the largest and most profitable car dealer in the EU. We have reached an important milestone in improving Autohero's profitability by achieving our EUR 1,000 GPU target one year early. We are pleased to increase our revenue guidance for 2022 and are making good progress to our goal of adjusted EBITDA profitability by Q4 2023.”
AUTO1 Group increases its revenue guidance from EUR 5.7 to 6.8 billion to a range between EUR 6.0 and 7.0 billion. The gross profit range of EUR 470-580 million with an adjusted EBITDA margin between -2.0% and -3.0% remain unchanged.
AUTO1 Group - Key Figures:
The Group’s comprehensive 2022 Q2 financial results can be found in the company’s quarterly results presentation in the Investor Relations section of the AUTO1 Group homepage. The H1 2022 financial report will be published on 13 September.
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 €4.78 billion in 2021. 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
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Senior Manager Investor Relations
Phone: +49 (0)30 - 2016 38 213
Phone: +49 174 234 2808
AUTO1 Group SE | Bergmannstrasse 72 | 10961 Berlin | Deutschland
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.
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