AUTO1 Group SE
/ Key word(s): Quarter Results
Corporate News AUTO1 Group SE: AUTO1 Group reports record quarter and raises full-year revenue and gross profit guidance - AUTO1 Group increases Q3 revenue by 64% year-on-year to EUR 1.26 billion, gross profit rises to EUR 116 million, fueled by massive customer demand - Autohero retail business achieves another record-breaking quarter with 11,275 deliveries in Q3, up 364% year-on-year - Autohero revenue up 413% year-on-year with EUR 160 million in Q3 - Autohero secures 50,000 in-house used car production capacity to support overwhelming customer demand - AUTO1 Group sets a new purchase record with over 160,000 cars in a single quarter - AUTO1 Group upgrades full-year revenue guidance to EUR 4.5-4.6 billion and gross profit guidance to EUR 415-425 million
AUTO1 Group's Q3 revenue was up 64% year-on-year to EUR 1.26 billion, an 18% increase quarter-on-quarter, reflecting continued strong demand for the Group's digital product propositions. Gross profit was up 34% year-on-year to EUR 116 million in Q3, a 17% quarter-on-quarter increase. With these record numbers AUTO1 Group clearly returned to its strong pre-COVID growth track. Christian Bertermann, CEO and Co-Founder of AUTO1 Group: "We have gone from strength to strength this year, with Q3 extending our exceptional growth track record. With Autohero, we have created an easy, hassle-free way for consumers to purchase used cars online. Our record results are driven by the unique experiences that we deliver to our customers and the superior market position that we have built over the last decade. We see dramatically increasing demand from customers across all of our retail markets, who are fully embracing the better way to buy their next car. Our latest figures show once again the enormous potential of the AUTO1 business model. This was a remarkable achievement from our extraordinarily talented team, but it's really just the beginning of our journey to building the largest and most profitable car dealer in Europe." Driven by exceptionally strong demand, Autohero achieved a record quarter and increased the number of units delivered in Q3 to 11,275, growing 364% year-on-year and 34% quarter-on-quarter. Autohero revenue rose to EUR 160 million, up 414% year-on-year and 40% quarter-on-quarter. Retail gross profit increased to EUR 4.1 million, up 533% year-on-year. Autohero is investing extensively into its own in-house production facilities and has already achieved its targeted capacity of 50,000 used cars for 2021, which is projected to grow to 150,000 to 200,000 across Europe over the course of next year. AUTO1 Group's merchant business, Europe's largest wholesale platform for used cars, remains the powerful engine behind the Group's financial performance and sourcing strength. AUTO1's Merchant Segment grew revenue by 49% to EUR 1.1 billion in Q3 and gross profit increased by 30% to EUR 112.2 million in Q3, underlining the strength of the platform. A record amount of more than 160,000 cars purchased in a supply constrained environment is enabling further growth for the Group in Q4. As a result, AUTO1 Group updates its full-year guidance for its financial year 2021: - Full-year revenue guidance at EUR 4.5-4.6 billion (previously: EUR 4.0-4.4 billion) - Gross profit guidance at EUR 415-425 million (previously: EUR 380-410 million) - Guidance for units in the Merchant segment at ~560,000 units (previously: 554,000-580,000 units) - Guidance for units in the Retail segment at 40,000-42,000 (previously: 38,000-43,000 units) - Combined total units at ~600,000 cars (previously: 592,000-623,000 units) - AUTO1 Group expects an adjusted EBITDA margin for the full year of ~-2.5% (previously: -2.5% to -3.0%). Markus Boser, CFO of AUTO1 Group: "We are extremely proud of our results this quarter. Due to the enormous customer interest and our attractive offering, we are able to exceed our original goals. Further scaling Autohero deliveries and investing to deliver a top-notch customer experience remain our key strategic priorities going forward, and the momentum we have created so far this year gives us a fantastic boost for the current quarter as well."
*OPEX includes employee expenses, other operating expenses less other operating income and less separately disclosed items
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 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.
17.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | AUTO1 Group SE |
Bergmannstraße 72 | |
10961 Berlin | |
Germany | |
Internet: | https://www.auto1-group.com/de/ |
ISIN: | DE000A2LQ884 |
WKN: | A2LQ88 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange |
EQS News ID: | 1249605 |
End of News | DGAP News Service |
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1249605 17.11.2021