AUTO1 Group reports record results in 2022

 AUTO1 Group strengthened its position as Europe’s largest used car platform and grew market share by 19% to 2.5% in 2022 despite a sharp decline in used car market transactions in Europe.

Berlin, February 23, 2023 – AUTO1 Group SE, Europe’s leading digital automotive platform for buying and selling used cars, today reported financial results for the full year and fourth quarter of 2022, highlighting a record year in revenue, unit sales, gross profit and market share.

Full Year 2022 Financial Highlights

• Total revenue grew to EUR 6.5 billion, up 36.8% year over year
• Total gross profit increased to EUR 488.2 million, up 13.3% year over year
• Total units sold grew to 649,709, an increase of 52,978 units compared to the full year 2021
• Retail revenue for Autohero, the leading online-shop for used cars in Europe, grew to EUR 1.0 billion, an increase of 82.5% year over year
• Retail gross profit increased to EUR 70.2 million, up 369.1% year over year
• Retail units sold grew to 64,164, up 55.1% year over year
• Merchant revenue for AUTO1.com, the largest wholesale platform for used cars in Europe, increased to EUR 5.5 billion, up 30.5% year over year
• Merchant units sold grew to 585,545, an increase of 30,194 units year over year
• Adjusted EBITDA at EUR (165.6) million

Christian Bertermann, CEO and Co-founder of AUTO1 Group: “2022 was a strong and remarkable year for us. We celebrated our 10 year anniversary in August and I could not be prouder of what our team has achieved over the last decade. We have all the building blocks in place to transition the market to online sales at fast pace and we are pulling more and more transactions onto our platform by providing our customers with constant great value. We are still at the very beginning of our journey and I am excited to continue our mission of transforming the used car market this year and beyond.”

Fourth quarter business performance

In Q4 2022, Autohero significantly improved its gross profit per unit (GPU) while at the same time growing units and revenue strongly compared to Q4 2021. The number of units sold via Autohero grew to 16,647 units, while revenue increased to EUR 265.0 million. Autohero GPU improved by threefold to EUR 1,254.

In the Merchant segment, 133,744 units were sold to partner dealers over the course of Q4 2022. Merchant revenue was EUR 1.2 billion and gross profit was EUR 90.0 million.

AUTO1 Group sold 150,391 units in total in Q4, generating revenue of EUR 1.4 billion and reported gross profit of EUR 114.5 million.

Adjusted EBITDA was EUR (36.0) million for the quarter, a year over year improvement of EUR 9.0 million.

Financial Outlook

AUTO1 Group provides the following full-year guidance for 2023:

• Total units at 625,000 - 690,000 (2022: 649,709 units)
• Units in the Merchant segment at 590,000 +/-5 % (2022: 585,545 units)
• Units in the Retail segment at 65,000 - 70,000 (2022: 64,164 units)
• Total gross profit at EUR 500 - 550 million (2022: EUR 488.2 million)
• Adjusted EBITDA of EUR (60) to (90) million for the full year (2022: EUR (165.6) million) with the aim of adjusted EBITDA break-even in Q4

Markus Boser, CFO of AUTO1 Group: “Our team delivered on our strategic and financial goals, despite a volatile macroeconomic environment, inflation and lower used car transactions across Europe. Our investments in technology, in-house production and branding, coupled with our strong balance sheet, including our recently extended EUR 1 billion ABS Inventory Facility, provide us with the ideal foundation for long-term profitable growth.”

Selected Financial Data

The Group’s essential financial results for the fourth quarter and full year 2022 can be found in the company’s quarterly and full year trading update presentation in the Investor Relations section of the AUTO1 Group homepage.

AUTO1 Group will publish its annual report for 2022 on 5 April 2023.

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 generated a revenue of EUR 6.5 billion in 2022. 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

Investor Relations contact

Alexander Enge

Senior Manager Investor Relations

Phone: +49 (0)30 - 2016 38 213

Email: [email protected]

Media Relations contact

Christine Preyer

Director Communications & PR

Phone: +49 (0)175 64 59 192

Email: [email protected]

Forward Looking Statements

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.

^[1]&2 GPU doesn't equal GP/units retail, due to the exclusion of the positive impact of capitalization of refurbishment costs of not yet sold cars.