Autotrader Group Plc · LSE:AUTO
Autotrader — FY2026 Earnings Presentation
44 slides from Autotrader's earnings presentation, May 21, 2026
Slide 1: Full year results presentation
Full year results presentation Full year ended 31 March 2026 21 May 2026
Slide 2: Disclaimer
Disclaimer For the purposes of this notice, this “presentation” shall include these slides, any oral presentations by the management of Autotrader Group plc and any question and answer session with Autotrader Group plc’s management. This presentation is for informational purposes only. The informati
Slide 3: Key headlines
Key headlines Our position with car buyers has strengthened, with 11x more time spent on Autotrader than our nearest competitor We have built, scaled and monetised AI products, made possible by sustained and significant investment in our technology and platform Continued to scale Deal Builder, evolv
Slide 4: Financial results
Financial results £m (unless otherwise specified) 2026 2025 Change Autotrader1 585.3 564.8 4% Autorama 39.0 36.3 7% Group revenue 624.3 601.1 4% Autotrader1 408.0 394.0 4% Autorama (2.0) (4.3) 53% 2 Group central costs – relating to Autorama acquisition (13.3) (12.9) (3%) Group operating profit 392.
Slide 5: Cultural KPIs
Cultural KPIs 50% 43% 72% Percentage of our Board who are Percentage of our employees who of employees are proud women was 50% in March 2026. We are women was 43% in March 2026 to work at Autotrader have two ethnically diverse Board (March 2025: 44%). The percentage (2025: 91%). members and a woman
Slide 6: Financials
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Slide 7: Autotrader: revenue
Autotrader: revenue Revenue (£m) Year ended 31 March is shown as 2026 Y-on-Y % 12% 7% 4% 585.3 Consumer Services revenue comprises: 2026: 564.8 15.2 14% Private (£23.6m); Motoring Services (£15.2m) 13.3 2025: 38.8 (8%) 529.7 Private (£26.6m); Motoring Services (£15.8m) 42.4 2024: 14.4 Private (£26.6
Slide 8: Autotrader: revenue continued
Autotrader: revenue continued Number of retailer forecourts1 Retailer revenue (£m) Y-on-Y % (1%) 2% (1%) Y-on-Y % 11% 7% 4% 13,783 14,013 13,942 501.1 450.0 480.0 2024 2025 2026 2024 2025 2026 Average Revenue Per Retailer (‘ARPR’) per month (£)2 Y-on-Y % 12% 5% 5% +£133 +£141 2,721 2,854 2,995 2024
Slide 9: Autotrader: ARPR, stock and retailer forecourts
Autotrader: ARPR, stock and retailer forecourts ARPR levers Live car stock and retailer forecourts Growth in Average Revenue Per Retailer per month (£) Y-on-Y average £ £284 £133 £141 retailers (1%) 2% (1%) Y-on-Y average % 12% 5% 5% live car stock 2% 1% 0% 136 17,000 480 114 117 460 16,000 440 78 7
Slide 10: Autotrader: costs and operating profit
Autotrader: costs and operating profit Costs (£m) Operating profit (£m) Year ended 31 March is shown as 2026 Year ended 31 March is shown as 2026 Y-on-Y % 8% 13% 4% Y-on-Y % 14% 4% 4% 181.4 71% 174.4 70% 70% 4% 10.6 153.9 10.2 9.4 6.3 49% 5.9 40.5 45.9 13% 44.2 24.6 (11%) 21.9 22.3 9.3 (18%) 11.3 8.
Slide 11: Autorama: revenue and costs
Autorama: revenue and costs Autotrader deliveries Revenue and costs (£m) 3,804 Year ended 31 March is shown as 2026 251 976 £m (unless otherwise specified) 2026 2025 Change 2024 2025 2026 Vehicle & Accessory sales 29.6 26.1 13% c.17% of vehicles were taken on balance sheet Commission & Ancillary 9.4
Slide 12: Group: profit and cash flow
Group: profit and cash flow Operating profit (£m) Cash generated from operations (£m) Year ended 31 March is shown as 2026 Year ended 31 March is shown as 2026 Y-on-Y % 26% 8% 4% 4% 5% 23.4 9.2 1.9 4.1 1.3 63% 63% 61% 418.0 392.7 392.7 376.8 348.7 2024 2025 2026 Operating D&A Share-based Movement in
Slide 13: Group: net bank debt and capital allocation in 2026
Group: net bank debt and capital allocation in 2026 Capital allocation policy 1 Reconciliation of net bank (debt)/cash position (£m) During the period, a total of 58.5m shares (2025: 23.9m) were purchased 15.3 418.0 (27.4) (1.8) (1.5) (95.2) (94.1) (371.0) 4.9 4.5 1.5 (146.8) for a consideration of
Slide 14: Updated capital allocation policy, with accelerated share buyback programme
Updated capital allocation policy, with accelerated share buyback programme • The Board believes the prevailing Autotrader share price does not reflect the Company’s fundamentals or long-term prospects. • In 2027, we currently expect to return c.£600m to shareholders. • This will be through purchasi
Slide 15: Market
Autotrader
Slide 16: Both new and used car transactions continue their post-covid recovery
Both new and used car transactions continue their post-covid recovery New car registrations1 Used car transactions2 3.0 60% 9.0 60% 50% 50% 8.0 2.5 Number of used car transactions (m) 40% 40% Number of new car registrations (m) 7.0 30% 30% 2.0 6.0 20% 20% YoY change 16% YoY change 15% 13% 5.0 10% 1.
Slide 17: Both the size of the car parc and average used car pricing increased in the year
Both the size of the car parc and average used car pricing increased in the year UK Car Parc1 Average used car pricing 38 5 £20,000 50% 4 37 £18,000 Cars Scrapped/New Registrations (m) 3 40% £16,000 36 2 £14,000 Total Car Parc (m) 35 30% Avg Vehicle Price 1 YoY Change % £12,000 34 - £10,000 20% 17%
Slide 18: We have maintained a record number of visits on Autotrader in 2026
We have maintained a record number of visits on Autotrader in 2026 Autotrader consumer engagement Year ended 31 March is shown as 2026 Cross platform visits1 Average per month, millions Y-on-Y % Average minutes spent 20262 11% 5% 0% Autotrader and other automotive websites. Average per month 77.5 81
Slide 19: Key product and technology updates
Key product and technology updates
Slide 20: We are benefitting from a long history of investment in our technology, data and AI platform
We are benefitting from a long history of investment in our technology, data and AI platform Recent progress Retail Valuations Trended Essentials Valuations Launched Co- 13 AI driven “I’m looking for” Driver, our first categories added into search to LLM powered help consumers find vehicles based pr
Slide 21: These foundations are enabling us to enhance the consumer experience
These foundations are enabling us to enhance the consumer experience, and learn from emergent behaviour AI-driven ‘I’m Connectivity for AI Natural language looking for’ search chatbots (inc. search pilot on filters ChatGPT app Autotrader integration) 21
Slide 22: Co-Driver continues to create efficiencies for our customers
Co-Driver continues to create efficiencies for our customers and benefits our consumer experience Vehicle descriptions using a standard LLM Over 11,000 automotive retailers have used Co- Generate Prompt into Description Driver (over 86% of retailer partners) description LLM generated 2.7m AI-powered
Slide 23: Buying Signals is trained on millions of consumer interactions
Buying Signals is trained on millions of consumer interactions to enable a more seamless buying experience High intent We analyse the behaviour of the buyer over the previous 7 days to see if they'd be considered 'high intent'. Local Over 800k enquiries with “Our new approach to customer Buying Sign
Slide 24: We have made changes to Deal Builder based on retailer feedback
We have made changes to Deal Builder based on retailer feedback, and are continuing to scale Customer advisory groups Reservation request Progress Retailers (000’s) Stock (000’s) Deals (000’s) 6.7 175 137 84 49 2.0 40 1.1 14 2024 2025 2026 2024 2025 2026 2024 2025 2026 24
Slide 25: Outlook
Autotrader
Slide 26: 2027 outlook
2027 outlook We remain comfortable with our current levels of investment such that Group operating profit margins, excluding Vehicle & Accessory sales, will be at least maintained. Group operating profit is expected to be £395m - £415m for financial year 2027. With an accelerated level of share buyb
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Slide 28: Appendix
Appendix Autotrader
Slide 29: Presentation footnotes
Presentation footnotes Slide Note 1. Autotrader includes the results of Autotrader & AutoConvert and includes the share of profit from the Dealer Auction joint venture. 2. Group central costs which are not allocated within either of the two segmental operating profit/(loss) comprise a £13.3 million
Slide 30: Change to one reported operating segment
Change to one reported operating segment £m 2026 2025 Change Trade 531.3 509.1 4% Consumer Services 38.8 42.4 (8%) Commission & Ancillary 9.4 10.2 (8%) Manufacturer & Agency 15.2 13.3 14% Leasing, Manufacturer & Agency 24.6 23.5 5% Vehicle & Accessory sales 29.6 26.1 13% Total revenue 624.3 601.1 4%
Slide 31: Group: income statement
Group: income statement £m (unless otherwise specified) 2026 2025 Change Revenue 624.3 601.1 4% 1 Operating costs (235.7) (227.9) (3%) Share of profit from joint ventures 4.1 3.6 14% Operating profit 392.7 376.8 4% Net finance costs (3.8) (1.1) (245%) Profit before taxation 388.9 375.7 4% Taxation (
Slide 32: Cash flow statement
Cash flow statement £m (unless otherwise specified) 2026 2025 Profit before tax 388.8 375.7 Depreciation & amortisation 23.4 20.7 Share-based payments (excl. associated NI) & deferred consideration 9.2 9.7 Share of profit from joint ventures (4.1) (3.6) Finance costs – net 3.9 1.1 Profit on disposal
Slide 33: Five year record
Five year record £m (unless otherwise specified) 2026 2025 2024 2023 2022 Autotrader 585.3 564.8 529.7 473.0 432.7 Autorama 39.0 36.3 41.2 27.2 – Revenue 624.3 601.1 570.9 500.2 432.7 Operating costs (222.4) (215.0) (203.9) (181.0) (132.0) Group central costs1 (13.3) (12.9) (21.1) (44.1) – Share of
Slide 34: The UK car parc increased through calendar year 2025
The UK car parc increased through calendar year 2025. The average time people hold their car remained at 3.8 years Frequency of Total number of UK car parc transactions (years) transactions (millions) 38 .0 3.0 37.0 4.2 4.2 36.0 2.0 3.9 3.8 3.8 3.8 35.0 3.5 3.5 3.5 3.5 3.4 3.4 3.3 3.4 3.5 New / (scr
Slide 35: We issue regular market insight reports
We issue regular market insight reports which are growing in authority and profile – these are shared widely across industry and government Road to Monthly Market Used Car Retail 2030 Intelligence Price Index A report tracking the A report tracking the A report tracking progress of electric health o
Slide 36: One reported operating segment
One reported operating segment
Slide 37: Financial results
Financial results £m (unless otherwise specified) 2026 2025 Change Revenue (excluding vehicle & accessory sales) 594.7 575.0 3% Vehicle & accessory sales 29.6 26.1 13% Group revenue 624.3 601.1 4% Operating costs (235.7) (227.9) (3%) Share of profit from joint ventures 4.1 3.6 14% Group operating pr
Slide 38: Revenue (excluding vehicles & accessory sales)
Revenue (excluding vehicles & accessory sales) Year ended 31 March is shown as 2026 Leasing, manufacturer & agency comprises: 2026: Manufacturer & agency (£15.2m); Leasing commission & ancillary (£9.4m) Y-on-Y % 12% 6% 3% 2025: Manufacturer & agency (£13.3m); leasing commission & ancillary (£10.2m)
Slide 39: ARPR and retailer forecourts
ARPR and retailer forecourts Number of retailer forecourts1 ARPR levers Growth in Average Revenue Per Retailer per month (£) Y-on-Y % (1%) 2% (1%) £ £284 £133 £141 % 12% 5% 5% 14,013 13,783 13,942 136 114 117 2024 2025 2026 78 77 72 34 Average Revenue Per Retailer (‘ARPR’) per month (£)2 Y-on-Y % 12
Slide 40: Live car stock, retailer forecourts and leasing
Live car stock, retailer forecourts and leasing Live car stock and retailer forecourts Number of vehicle deliveries Y-on-Y % (20%) 29% Y-on-Y average 5,302 (1%) 2% (1%) 4,616 retailers 3,498 Y-on-Y average 2,646 2,520 2% 1% 0% 2,124 live car stock 585 646 234 17,000 480 2024 2025 2026 460 16,000 Car
Slide 41: Costs
Costs Total costs (£m) Y-on-Y % (0%) 1% 3% Costs (excluding cost of goods sold) (£m) Year ended 31 March 2026 is shown as 2026 225.0 227.9 235.7 Y-on-Y % (6%) 2% 2% 201.7 205.8 2024 2025 2026 196.8 - - 10.6 4% 10.2 11.1 - 23.4 13% Cost of goods sold (£m) 20.7 18.3 Y-on-Y % (7%) 14% 43.3 48.1 11% 48.
Slide 42: Group: profit and cash flow
Group: profit and cash flow Operating profit (£m) Cash generated from operations (£m) Year ended 31 March is shown as 2026 Year ended 31 March is shown as 2026 Y-on-Y % 26% 8% 4% 4% 5% 450.0 80% 430.0 66% 9.2 64% 66% 70% 23.4 1.9 4.1 1.3 410.0 60% 390.0 50% 370.0 350.0 40% 418.0 330.0 392.7 30% 392.
Slide 43: Group: income statement
Group: income statement £m (unless otherwise specified) 2026 2025 Change Revenue (excluding vehicle & accessory sales) 594.7 575.0 3% Vehicle & accessory sales 29.6 26.1 13% Group revenue 624.3 601.1 4% Operating costs (235.7) (227.9) (3%) Share of profit from joint ventures 4.1 3.6 14% Operating pr
Slide 44: Five-year record
Five-year record £m (unless otherwise specified) 2026 2025 2024 2023 2022 Revenue (excluding vehicle & accessory sales) 594.7 575.0 542.5 484.2 432.7 Vehicle & accessory sales 29.6 26.1 28.4 16.0 – Group revenue 623.4 601.1 570.9 500.2 432.7 Operating costs (235.7) (227.9) (225.0) (225.1) (132.0) Sh