AUTO1 Group Reports Double-Digit Growth and Record Profits in Q2 2024

Berlin, July 31, 2024 – AUTO1 Group SE, a premier digital platform for buying and selling used cars in Europe, announced robust Q2 2024 results. The company achieved double-digit unit growth, its highest-ever adjusted EBITDA, and record gross profit.

Key results for Q2 2024 include a 17% year-over-year increase in units sold, totaling 166,292 vehicles. Gross profit surged by 36% to EUR 173.3 million, and adjusted EBITDA reached a record EUR 20.7 million, marking a EUR 35.6 million improvement compared to Q2 2023.

The Merchant segment reported a 17% rise in units sold (148,598) and gross profit grew by 32% to EUR 136.4 million. The Retail business, branded Autohero, saw a 23% increase in units sold (17,694) and a 50% rise in gross profit to EUR 36.9 million.

Christian Bertermann, CEO, attributed the success to growing demand, emphasizing the importance of excellent customer experiences. CFO Markus Boser highlighted the financial strength of the company, and the successful issuance of their first-ever securitisation of German consumer car loans.

Looking ahead, AUTO1 Group increased its full-year unit guidance to between 620,000 and 665,000 units, with a gross profit target of EUR 610 to 680 million and an adjusted EBITDA target of EUR 45 to 65 million.