Q1 2024 REPORT

0 8 M A Y 2 0 2 4

TABLE OF CONTENTS

  1. MISSION STATEMENT

01 4 Q1 2024 HIGHLIGHTS

  1. Building a Category Leader By Maximizing Value for Consumers and Merchants
  1. In Q1 2024 We Demonstrated How to Combine Growth And Best Ever Profitability
  2. Financial Overview

02 7 Q1 2024 FINANCIALS

  1. Quarterly Report
  1. Profit and Loss
  2. Financial Position

03

04

  1. OUTLOOK FOR THE FULL YEAR 2024
  2. SERVICE
  3. Glossary
  4. Financial Calendar

17 Contact

2024 Q 1 R E P O R T

2

MISSION STATEMENT

Building

the Best Way to Buy and Sell Cars Online

AUTO1 Group is focused on building the leading used car business across Europe. We are a business led by founders with an entrepreneurial spirit, longstanding industry experience, the proven ability to scale, and a lasting commitment to our mission.

2024 Q 1 R E P O R T

3

01

Q1 2024 HIGHLIGHTS

PAGE 5

PAGE 5

PAGE 6

Building a Category Leader By Maximizing Value for Consumers and Merchants In Q1 2024 We Demonstrated How to Combine Growth And Best Ever Profitability Financial Overview

2024 Q 1 R E P O R T

4

01 Q1 2024 HIGHLIGHTS

Building a Category Leader By Maximizing Value for Consumers and Merchants

In Q1 2024 We Demonstrated How to Combine Growth And Best Ever Profitability

Group Units Sold

Gross Profit

Adjusted EBITDA

K Units

EUR Million

EUR Million

160

164

157

150

147

140

142

141

130

120

Q1

Q2

Q3

Q4

Q1

2023

2023

2023

2023

2024

2024

Q 1 R E P O R T

160

163

150

140

132

134

134

130

128

120

Q1

Q2

Q3

Q4

Q1

2023

2023

2023

2023

2024

20

17

10

0.5

0

-5

-10

-15

-20

-25

Q1 Q2 Q3 Q4 Q1

2023 2023 2023 2023 2024

5

01 Q1 2024 HIGHLIGHTS

Financial Overview

Summary of Key Figures

Group

Units Sold (#)

Revenue (€m)

ASP (€)

Gross profit (€m)

GPU* (€)

Adjusted EBITDA (€m)

Inventory (€m)

Segment Key Figures

Merchant KPIs

Units Sold (#)

thereof C2B

thereof Remarketing

Revenue (€m)

thereof C2B

thereof Remarketing

ASP (€)

Gross profit (€m)

GPU (€)

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

Q1 2024

Q1 YoY

157,106

141,682

140,630

146,667

586,085

163,766

4.2%

1,505.9

1,340.5

1,292.6

1,323.7

5,462.8

1,454.3

(3.4%)

9,585

9,462

9,192

9,025

9,321

8,881

(7.4%)

132

127.8

134.4

133.8

527.9

162.9

23.4%

836

898

952

918

899

993

18.8%

(25.1)

(14.8)

0.5

(4.5)

(43.9)

17

n.m.

426.6

428.7

536.6

544.4

544.4

517.6

21.3%

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

Q1 2024

Q1 YoY

139,027

127,285

125,785

130,922

523,019

146,625

5.5%

120,307

110,703

110,983

115,892

457,885

132,516

10.1%

18,720

16,582

14,802

15,030

65,134

14,109

(24.6%)

1,221.5

1,114.5

1,058.2

1,069.8

4,464.0

1,177.9

(3.6%)

1,037.8

960.7

918.9

913.2

3,830.6

1,030.9

(0.7%)

183.7

153.8

139.3

156.6

633.4

147

(20.0%)

8,786

8,756

8,413

8,171

8,535

8,034

(8.6%)

107.0

103.1

105.4

103.7

419.2

129.1

20.7%

769

810

838

792

801

881

14.5%

Retail KPIs

Units Sold (#)

Revenue (€m)

ASP (€)

Gross profit (€m)

GPU* (€)

Q1 2023

Q2 2023

Q3 2023

Q4 2023

FY 2023

18,079

14,397

14,845

15,745

63,066

284.4

226

234.5

254

998.9

15,732

15,701

15,794

16,129

15,839

25.0

24.7

28.9

30.1

108.7

1,349

1,680

1,912

1,970

1,712

Q1 2024

17,141

276.4

16,125

33.8

1,956

Q1 YoY

(5.2%)

(2.8%)

2.5%

35.1%

45.0%

  • GPU is not equal to gross profit/number of cars sold because of the effects of inventory changes due to the capitalisation of internal refurbishment costs which are not part of cost of materials.

Differences may exist due to rounding.

2024 Q 1 R E P O R T

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02 Q1 2024 FINANCIALS

PAGE 8

PAGE 11

PAGE 12

Quarterly Report

Profit and Loss

Financial Position

2024 Q 1 R E P O R T

7

02 Q1 2024 FINANCIALS

Quarterly Report

Group

Units Sold (#)

Revenue (in KEUR)

Revenue per unit (in EUR)

Gross profit (in KEUR)

GPU (in EUR)1

Adjusted EBITDA (in KEUR)2

Adjusted EBITDA margin in %

Inventory (in KEUR)

1 Jan. 2024

  • 31 Mar. 2024
    163,766

1,454,341

8,881

162,947

993

16,995

1.2

517,593

1 Jan. 2023

  • 31 Mar. 2023
    157,106

1,505,922

9,585

132,002

836

(25,133)

(1.7)

426,578

  1. GPU is not equal to gross profit/number of cars sold because of the effects of inventory changes due to the capitalisation of internal refurbishment costs which are not part of cost of materials.
  2. EBITDA adjusted for separately disclosed items including non-operating effects, which comprise share-based payments and other-non operating expenses.

The first quarter 2024 was the most profitable in AUTO1 Group's history. The earnings situation improved significantly compared to the previous year quarter and, at KEUR 162,947, the highest gross profit in a quarter was achieved. The number of vehicles sold increased by 6,660 units to 163,766 units in Q1 2024 compared to the previous year quarter.

Gross profit increased by KEUR 30,944 compared to the same period of the previous year and amounted to KEUR 162,947 in Q1 2024. The gross profit per unit was EUR 157 above the same quarter of the previous year and amounted to EUR 993.

With KEUR 16,995 in Q1 2024, AUTO1 Group achieved its best adjusted EBITDA, which corresponds to an improvement of KEUR 42,128 compared to the previous year quarter (KEUR -25,133) and resulted in an adjusted EBITDA margin of 1.2%. The increase of the adjusted EBITDA in Q1 2024 compared to the same period of the previous year is due to the higher gross profit, lower personnel and marketing expenses and reduced other expenses. The Group's consolidated loss in the first quarter of 2024 amounted to KEUR -3,464 (Q1 2023: KEUR -44,083). For the first time in a quarter, a positive adjusted net result of KEUR 1,221 was achieved.

2024 Q 1 R E P O R T

8

02 Q1 2024 FINANCIALS

Merchant

M e r c h a n t

Units Sold (#)

thereof C2B

thereof Remarketing

Revenue (in KEUR)

thereof C2B

thereof Remarketing

Revenue per Unit (in EUR)

Gross profit (in KEUR)

GPU (in EUR)

1 Jan. 2024 - 31 Mar. 2024

146,625

132,516

14,109

1,177,940

1,030,919

147,021

8,034

129,132

881

1 Jan. 2023 - 31 Mar. 2023

139,027

120,307

18,720

1,221,505

1,037,795

183,710

8,786

106,967

769

The number of vehicles sold in the Merchant segment increased compared to the first quarter of 2023 by 5% to 146,625 units (Q1 2023: 139,027 units). Revenues in the first quarter of 2024 decreased slightly by KEUR 43,565 or 4% to KEUR 1,177,940 compared to Q1 2023. This is mainly due to lower average sales prices.

The number of vehicles sold via the C2B channel increased from 120,307 units in the previous year quarter by 10% to a total of 132,516 units in Q1 2024. The C2B vehicles sold accounted for 90% of total sales in the Merchant segment, clearly demonstrating the performance of our core business. Due to lower average selling prices, revenue in the C2B segment decreased slightly from KEUR 1,037,795 in Q1 2023 by KEUR 6,876 to KEUR 1,030,919 in the first quarter 2024.

The number of Remarketing units sold reduced by 4,611 to 14,109 units in Q1 2024 compared to the previous year's quarter. The units sold via the channel generated revenues of KEUR 147,021 in the first quarter 2024, which decreased compared to Q1 2023 by KEUR 36,689.

Total gross profit in the Merchant segment increased significantly by KEUR 22,165 to KEUR 129,132. Mainly due to stronger demand for our vehicles and a higher proportion of C2B vehicles sold compared to Q1 2023, the gross profit per unit was increased by 15% to EUR 881 in Q1 2024.

2024 Q 1 R E P O R T

9

02 Q1 2024 FINANCIALS

Retail

R e t a i l

Units Sold (#)

Revenue (in KEUR)

Revenue per Unit (in EUR)

Gross profit (in KEUR)

GPU (in EUR)1

1 Jan. 2024

  • 31 Mar. 2024
    17,141

276,401

16,125

33,815

1,956

1 Jan. 2023

  • 31 Mar. 2023
    18,079

284,418

15,732

25,035

1,349

1 GPU is not equal to gross profit/number of cars sold because of the effects of inventory changes due to the capitalisation of internal refurbishment costs which are not part of cost of materials.

In our Retail segment, the gross profit increased from KEUR 25,035 in the first quarter 2023 to KEUR 33,815 in Q1 2024, though the number of vehicles sold decreased compared to the previous year quarter by 938 units to 17,141 units in Q1 2024. Also the gross profit per unit increased in Q1 2024 by EUR 607 compared to the previous year's quarter. The increase was mainly achieved through a reduction in refurbishment costs per vehicle and additional services offered to Autohero customers. This positive development of profitability indicators in the Retail segment confirms the success of the investments we have made in Autohero's production centres and the attractiveness of online used car sales.

2024 Q 1 R E P O R T

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Disclaimer

AUTO1 Group SE published this content on 08 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2024 05:46:03 UTC.