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AUTO1 : Q1 2026 Financial Report
AUTO1 : Q1 2026 Financial
About this update from Auto1 Group Se
Q1 2026 REPORT 13 MAY 2026 The AUTO1 Group Continues its Growth Trajectory in Q1 2026 249 K Group Units Sold 22% YoY Growth € 289 M Gross Profit 22% YoY Growth € 60 M Adjusted EBITDA best result since the IPO 2 Q1 2025 Q1 2026 Y-Y (%) * Note: 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. Selected lines: Balance Sheet Q4 2025 Q1 2026 Y-Y (%) 249 216 32 2,437.1 1,880.6 556.5 289.4 207.0 82.4 1,166.0 957.0 2,555 59.8 2.5 % 26.1 652.0 1,055.2 916.5 321.8 255.9 619.5 539.0 Q1 2026 Results at a Glance "Our record Q1 performance, driven by 22% year-on-year unit growth and record-breaking gross profit, highlights the strength and scalability of our vertically integrated business model. Our unique technology platform combined with our unmatched physical infrastructure keeps delivering outstanding value for both Merchant partners and consumers across Europe. We are very excited to further change the way people buy, sell and finance cars." Christian Bertermann CEO and Co-founder of AUTO1 Group Total Units K(#) 204 21.9 % Merchant Units K(#) 182 18.8 % Retail Units K(#) 22 47.8 % Selected lines: P&L Group Revenue (m EUR) 1,942.9 25.4 % Merchant Revenue (m EUR) 1,560.5 20.5 % Retail Revenue (m EUR) 382.4 45.5 % Group Gross Profit (m EUR) 236.4 22.4 % Merchant Gross Profit (m EUR) 180.3 14.8 % Retail Gross Profit (m EUR) 56.1 47.0 % Group GPU* (EUR) 1,160.0 0.4 % Merchant GPU (EUR) 990.0 (3.4) % Retail GPU (EUR) 2,569 (0.6) % Group Adj. EBITDA (m EUR) 58.1 3.0 % Group Adj. EBITDA margin % 3.0 % (0.5pp) Group Net income / (loss) (m EUR) 29.9 (12.4)% Cash & Liquidity (m EUR) 604.0 8.0 % Inventory (m EUR) 1,057.7 (0.2) % Inventory ABS liabilities (m EUR) 881.0 4.0 % Merchant Finance receivables (m EUR) 303.0 6.2 % Merchant Finance ABS Liabilities (m EUR) 237.2 7.9 % Consumer finance receivables (m EUR) 548.6 12.9 % Consumer Finance ABS Liabilities (m EUR) 487.1 10.7 % Group Net income (m EUR) 29.9 (12.4)% Adjustments for non-cash items* (m EUR) 21.3 (4.9)% Group Net income, adjusted for non-cash items (m EUR) 51.2 (9.3)% Change in short-term assets, excluding captive finance and inventory (m EUR) (0.3) > 1,000 % Change in short-term liabilities, excluding captive finance and inventory (m EUR) 8.4 166.1 % Change in non-inventory, non-captive finance working capital (m EUR) 8.1 n.m. Net Cash from Operating Activities pre-Captive Finance, pre-inventory (m EUR) 59.3 (38.1)% Capex (m EUR) (7.0) (59.8)% Net Change in Financed Inventory (m EUR) (2.8) n.m. Net Change in Financed Merchant Loans (m EUR) (44.1) (93.0) % Net Change in Financed Consumer Loans (m EUR) (17.4) 18.0 % Net change in cash and cash equivalents (m EUR) (12.1) n.m. Cash and cash equivalents at the beginning of the period (m EUR) 613.4 (1.5)% Cash and cash equivalents at the end of the period (m EUR) 601.3 8.4 % Non-IFRS Cashflow (Company definition) 3M 2025 3M 2026 Y-Y (%) * Note: adjustments for non- cash items include Depreciation and amortisation, Change in provisions, Expenses from share-based payments, Loss on the disposal of property, plant and equipment, Other non-cash effects, Change in operating assets (othan than Inventory or Captive Finance Receivables), Change in operating liabilities, Payment of lease liabilities, Transaction costs related to loans taken out 26.1 20.3 46.4 (32.0) 22.3 (9.8) 36.6 (2.8) 37.9 (3.1) (20.6) 48.1 604.0 652.0 Q1 2026 FINANCIAL SUMMARY 6 Q1 2026 HIGHLIGHTS 7 Quarterly Report 8 Outlook for the Full Year 2026 9 Q1 2026 FINANCIALS 10 Consolidated Income Statement for the Period from 1 January to 31 March 2026 Condensed 11 Consolidated Statement of Financial Position as at 31 March 2026 Condensed 13 Consolidated Statement of Cash Flows for the Period from 1 January to 31 March 2026 Condensed 14 Disclosures on Selected Balance Sheet Items 15 SERVICE 16 Glossary 17 Financial Calendar 17 Contact 01 Q1 2026 HIGHLIGHTS PAGE 7 Quarterly Report PAGE 8 Outlook for the Full Year 2026 Quarterly Report Results of the first quarter 2026 In the first quarter of 2026, AUTO1 Group continued its growth trajectory. Compared with the same quarter of the previous year, the Group's key performance indicators improved. In the first quarter of 2026, a total of 248,779 units were sold, representing an increase of 22% or 44,733 units compared with the same quarter of the previous year (Q1 2025: 204,046 units). Revenue increased by KEUR 494,194 to KEUR 2,437,136. Revenue per unit sold increased to EUR 9,796 (Q1 2025: EUR 9,522). Gross profit reached a new record high of KEUR 289,370, representing an increase of 22% or KEUR 53,007 compared with the previous year (Q1 2025: KEUR 236,363). Gross profit per unit was EUR 1,166 (Q1 2025: EUR 1,160). Adjusted EBITDA increased to KEUR 59,842 in the first quarter of 2026, an improvement of 3% compared with the same quarter of the previous year (Q1 2025: KEUR 58,110). The adjusted EBITDA margin fell to 2.5% (Q1 2025: 3.0%). The increase in adjusted EBITDA is primarily attributable to the rise in gross profit, which offset higher expenditure on personnel, marketing and logistics. Higher depreciation and amortisation, finance costs and tax expenses have reduced the Group's net profit to KEUR 26,148 compared with the same quarter last year (Q1 2025: KEUR 29,858). Merchant The number of units sold in the Merchant segment grew by 19% in the first quarter of 2026 compared with the same period last year, reaching 216,293 units (Q1 2025: 182,062 units). This increase is primarily attributable to higher demand from dealers. Revenue increased by KEUR 320,095, or 21%, to KEUR 1,880,619 over the same period. Gross profit in the Merchant segment increased by KEUR 26,687 to KEUR 206,993 compared with the same quarter of the previous year. This positive development is primarily attributable to the higher number of units sold. Gross profit per unit declined from EUR 990 to EUR 957 in the first quarter of 2026 compared with the same period of the previous year. Retail In our Retail segment, a total of 32,486 units were sold in the first quarter of 2026, marking an increase of 10,502 units, or 48%, compared with the same quarter of the previous year. This resulted in revenue of KEUR 556,517 (Q1 2025: KEUR 382,418). Gross profit increased by 47% from KEUR 56,057 in the first quarter of 2025 to KEUR 82,376 in Q1 2026. Gross profit per unit decreased slightly compared with the same quarter of the previous year, from EUR 2,569 to EUR 2,555. Outlook for the Full Year 2026 AUTO1 confirms its outlook for the full year 2026 and remains on track to sell a total of 940,000 to 1,000,000 units. Of these, 815,000 to 865,000 units are attributable to the Merchant segment and 125,000 to 135,000 vehicles to the Retail segment under the Autohero brand. We are keeping our outlook for gross profit unchanged at EUR 1.1 billion to EUR 1.2 billion. For adjusted EBITDA, we continue to expect a range of EUR 250 million to EUR 275 million. Events after the reporting period No significant events occurred after the end of the reporting period. 02 Q1 2026 FINANCIALS PAGE 10 Consolidated Income Statement for the Period from 1 January to 31 March 2026 Condensed PAGE 11 Consolidated Statement of Financial Position as at 31 March 2026 Condensed PAGE 13 Consolidated Statement of Cash Flows for the Period from 1 January to 31 March 2026 Condensed PAGE 14 Disclosures on Selected Balance Sheet Items Consolidated Income Statement Condensed for the Period from 1 JANUARY - 31 MARCH 2026 40,523 thereof Other expenses (74,196) (59,185) Earnings before interest, tax, depreciation and amortisation (EBITDA) 54,339 53,063 Adjusted EBITDA * 59,842 58,110 Depreciation and amortisation (14,898) (12,540) Earnings before interest and tax (EBIT) 39,441 (41,957) Financial result (6,799) (4,635) Earnings before tax (EBT) 32,641 35,888 Income taxes (6,493) (6,030) Net result for the period 26,148 29,858 * Adjusted for separately disclosed items including non-operating effects,which comprise share-based payments and other non-operating expenses. Gross profit 1 Jan. 2026 - 31 Mar. 2026 1 Jan. 2025 - 31 Mar. 2025 Revenue 2,437,136 1,942,942 thereof Merchant 1,880,619 1,560,524 thereof Retail 556,517 382,418 Cost of materials (2,147,766) (1,706,579) KEUR 289,370 236,363 Other operating income 2,254 2,893 Personnel expenses (106,378) (85,051) Other operating expenses (130,908) (101,142) thereof Marketing expenses (56,713) Consolidated Statement of Financial Position Condensed as at Assets KEUR 31 Mar. 2026 31 Dec. 2025 31 MARCH 2026 Fixed assets 175,165 177,519 Trade receivables 510,894 449,279 thereof consumer loan receivables 510,894 449,279 Other financial and non-financial assets 11,250 7,789 Non-current assets 697,309 634,587 Inventories 1,055,152 1,057,654 Trade and other receivables 561,396 495,704 thereof merchant financing receivables 321,825 302,978 thereof consumer loan receivables 108,567 99,349 Other financial and non-financial assets 85,159 78,030 Cash and cash equivalents 652,020 603,970 Current assets 2,353,728 2,235,357 Total assets 3,051,038 2,869,944 Consolidated Statement of Financial Position Condensed as at Equity & Liabilities KEUR 31 Mar. 2026 31 Dec. 2025 31 MARCH 2026 Total equity 741,366 707,534 Financial liabilities 1,392,952 1,323,295 Provisions, Other financial and non-financial liabilities 61,540 63,485 Non-current liabilities 1,454,492 1,386,780 Financial liabilities 315,948 279,547 Trade payables 265,045 255,788 Provisions, Other financial and non-financial liabilities 274,186 240,295 Current liabilities 855,179 775,630 Total liabilities 2,309,671 2,162,410 Total equity and liabilities 3,051,038 2,869,944 Consolidated Statement of Cash Flows Condensed for the Period from 1 JANUARY - 31 MARCH 2026 601,263 652,020 Cash and cash equivalents at the end of the period 613,378 603,970 Cash and cash equivalents at the beginning of the period 12,540 4,635 6,030 3,562 3,594 33 8,147 (104,054) (4,977) (40,633) (7,278) (504) 308 (7,474) 248,254 (202,065) (675) (9,522) 35,992 (12,115) 14,898 6,799 6,493 360 3,275 409 6,777 (100,653) (7,488) (42,981) (2,940) (425) 113 (3,252) 232,314 (126,136) (372) (11,522) 94,283 48,050 29,858 26,148 Net result for the year Adjustments for Depreciation and amortisation Financial result Income taxes Change in provisions Expenses from share-based payments Loss on the disposal of property, plant and equipment Other non-cash effects Changes in operating assets and liabilities Other cash flows from operating activities Cash flow from operating activities Acquisition of investments in property, plant and equipment Acquisition of investments in intangible assets Proceeds from the sale of property, plant and equipment Cash flow from investing activities Proceeds from incurring liabilities to banks Repayment of liabilities to banks Transaction costs related to loans taken out and concluding derivatives Payments of lease liabilities Cash flows from financing activities Net change in cash and cash equivalents 1 Jan. 2025 - 31 Mar. 2025 1 Jan. 2026 - 31 Mar. 2026 KEUR Disclosures on Selected Balance Sheet Items Trade receivables Non-current trade receivables relate to receivables arising from the instalment purchase agreements we offer to Autohero customers in Germany, Austria and Spain. Non-current receivables from instalment purchases amounted to KEUR 510,894 as at the balance sheet date (Q4 2025: KEUR 449,279). Total receivables from instalment purchase agreements (current and non-current) amounted to KEUR 619,460 (Q4 2025: KEUR 548,628). Current trade receivables and other receivables have increased by KEUR 65,693. Part of this increase is attributable to a rise of KEUR 18,847 in receivables from the merchant financing programme, which has been offered to selected merchants in eight European markets since October 2023. Inventories Inventory decreased marginally by KEUR 2,501 to KEUR 1,055,152 as at 31 March 2026 compared with the end of the year. This is primarily due to a slight reduction in the number of vehicles in the Retail segment. By contrast, inventory in the Merchant segment increased slightly. Cash and cash equivalents Despite the continued growth in receivables from the instalment purchase and merchant financing programmes, cash and cash equivalents increased by KEUR 48,050 in the first three months of 2026, due to both a higher proportion of assets being refinanced through our ABS facilities and positive business performance. Equity The increase in equity is primarily attributable to the positive net income for the first quarter of 2026. Financial liabilities In the first three months of 2026, total financial liabilities increased, primarily due to a increase of KEUR 83,000 in the drawdown on the consumer loan ABS facility and a rise of KEUR 35,500 in the drawdown on the inventory ABS facilities. In addition, the drawdown on the merchant financing ABS facility was increased by KEUR 18,726. This was offset by the scheduled repayment of public ABS notes amounting to KEUR 31,049. KEUR 31 Mar. 2026 31 Dec. 2025 Utilisation of ABS facilities and public ABS notes Inventory ABS-facility Public ABS-notes Consumer loan ABS-facility Merchant financing ABS-facility Total 881,000 337,096 150,000 237,217 1,605,313 The following table shows the nominal amounts drawn down from the three facilities provided by external lenders, as well as the public ABS notes, as at the end of the quarter: 916,500 306,048 233,000 255,943 1,711,490 The difference between the sum of the amounts drawn down on ABS facilities and public ABS notes and the carrying amount of the reported financial liabilities arises from the recognition of transaction costs, which are accounted for over the relevant contract term using the effective interest method. 03 SERVICE PAGE 16 Glossar y PAGE 17 Financial Calendar PAGE 17 C ontact 03 SERVICE Glossary ABS Asset-backed-securitisation facilities, which are utilised to secure long-term, cost-efficient financing of the inventory as well as receivables from the instalment purchase programme and merchant financing programme. Adjusted EBITDA EBITDA adjusted for separately disclosed items including non-operating effects, which comprise share-based payments and other non-operating expenses. AUTO1 Group SE The Company, together with its consolidated subsidiaries. Autohero Retail sales channel of the AUTO1 Group to sell used cars to private customers. GPU Gross profit per unit, defined as gross profit divided by units sold in a respective period. Merchant Wholesale sales channel of the Auto1 Group to sell used cars to dealers. Retail See Autohero. Gross Profit (GP) Defined as Revenue less cost of materials. Financial Calendar 2026 4 June 29 July 2 September 4 November 2026 Annual General Meeting Q2 2026 Trading Update Publication Half-year Financial Report (H1 2026) Q3 2026 Trading and Financial Results Contact Investor Relations Philip Reicherstorfer +49 30 2016 38 213 [email protected] Maria Shevtsova +49 170 556 9259 [email protected] Publisher AUTO1 Group SE Bergmannstraße 72, 10961 Berlin +49 30 2016 38 1901 [email protected] Disclaimer Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties. Our actual results may differ materially and adversely from any forward-looking statements discussed in this communication. You should not rely on forward-looking statements as predictions of future events. We do not undertake any obligation to update or revise these statements and do not accept any liability regarding the achievement of forward looking statements. Bergmannstraße 72, 10961 Berlin, Germany +4930201638360 [email protected]