DGAP-News: AUTO1 Group SE: AUTO1 Group reports strong Q1 growth and confirms guidance for 2022
DGAP-News: AUTO1 Group SE
/ Key word(s): Quarter Results
AUTO1 Group SE: AUTO1 Group reports strong Q1 growth and confirms guidance for 2022
- AUTO1 Group Q1 2022 revenue up 82% YoY at EUR 1.64 billion, gross profit up 44% YoY to EUR 124.0 million
- AUTO1 Groups Merchant business continues to expand its market leadership, with units up 26% YoY at 155,052 units and revenue up 74% YoY to EUR 1.4 billion
- Strong increase in Autohero GPU by 182% YoY to EUR 718, significant advance towards 2023 target of EUR 1,000 GPU
- AUTO1 Group confirms 2022 guidance
AUTO1 Group Q1 revenues jumped 82% year-on-year to EUR 1.64 billion in the three-month period ending on 31 March 2022 (Q1 2021: EUR 899.5 million), as gross profit rose 44% year-on-year to EUR 124.0 million (Q1 2021: EUR 86.4 million). AUTO1 Group maintained car purchases at a high level, with a 36% increase in units to 179,593 (Q1 2021: 131,973 units), laying a solid foundation for continued expansion in the quarters ahead.
AUTO1s Merchant business was once again a key driver of group performance, with a 26% year-on-year increase to 155,052 units (Q1 2021: 122,722 units), further strengthening its number-one position in the European market for used cars. Revenues in the merchant segment rose 74% to EUR 1.4 billion (Q1 2021: EUR 803 million).
Autohero, the leading fully digital used car retailer for consumers in the EU, saw another quarter of substantially improved gross profit per unit (GPU) while growing units strongly. The number of units sold via Autohero surged by more than 86% year-on-year to 14,558 units, from 7,815 units in last years first quarter. Autohero grew its GPU by 182% year-on-year to EUR 718 (Q1 2021: EUR 255), marking an important step towards the Groups 2023 target of EUR 1,000 and its long-term target of EUR 3,000 in Retail GPU. At the same time, Autoheros brand awareness grew across all markets, especially in AUTO1s core markets of Germany (29%) and France (21%).
Christian Bertermann, CEO and Co-founder of AUTO1 Group: The first quarter has been another very strong quarter for us, following our success in 2021. Our unique business model has shown enormous resilience in a challenging market environment and the performance were delivering today shows that were on track for a strong year. Our customers love what we do, as highlighted by the considerable increase in Autoheros NPS to above 70. Our significant increase in Autohero GPU shows the power of our platform and is the first step towards an increasing focus on profitability over the next few quarters. We are pleased to confirm our guidance for 2022, as well as our expectation to reach adjusted EBITDA profitability by Q4 2023.
The Groups complete 2022 Q1 financial results can be found on the companys quarterly report and results presentation in the Investor Relations section of the AUTO1 Group homepage.
About AUTO1 Group
For more information please visit www.auto1-group.com.
AUTO1 Group SE | Bergmannstrasse 72 | 10961 Berlin | Germany
This publication contains forward-looking statements based on current views and assumptions of AUTO1 Groups management and made to the best of such managements knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause AUTO1 Groups 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.
11.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||AUTO1 Group SE|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange|
|EQS News ID:||1348685|
|End of News||DGAP News Service|
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