Business
AUTO1 : Q3 2025 Results Presentation
AUTO1 : Q3 2025 Results
About this update from Auto1 Group Se
Trading Update Q3 2025 5 November 2025 Highlights 3 Highlights Group Adj. EBITDA EUR Million Group Adj. EBITDA Margin % 2.4 % 2.5 % 2.1 % 1.6 % + 51 % 60 YoY 48 36 34 24 12 Q3 24 Q3 25 9M 24 9M 25 52 We Achieved Record Units and Gross Profit across Merchant and Retail, Reflecting Accelerating Growth Group Units Sold K Units 240 + 24 % YoY 650 220 219 550 507 200 450 180 350 177 160 250 140 150 Q3 24 Q3 25 9M 24 9M 25 623 Group Gross Profit EUR Million Group GPU EUR 1,176 1,162 1,059 1,032 330 + 38 % YoY 720 275 600 220 480 523 165 187 360 110 240 55 120 Q3 24 Q3 25 9M 24 9M 25 725 258 150 152 120 90 72 60 30 Highlights Our Vertically Integrated Business Model Maximizes Value For Our Customers Higher Selling Prices Lower Buying Prices Lower Processing Cost Competitive Financing Rates Fast And Reliable Delivery Greater Selection Greater Convenience Increased Trust Highly Motivated Staff Merchant Update Merchant Update Our Merchant Business Delivered its Best Ever Quarter Merchant Units Sold K Units + 22 % YoY 210 + 22 % YoY 500 550 190 192 480 453 170 360 158 150 240 130 120 Q3 24 Q3 25 9M 24 9M 25 Merchant Gross Profit (EUR Million) Merchant GPU (EUR) €966 200 €914 185 + 29 % YoY 150 144 100 Q3 2024 Q3 2025 Merchant Gross Profit (EUR Million) Merchant GPU (EUR) €972 550 €904 535 + 31 % YoY 400 410 250 9M 2024 9M 2025 Merchant Update Our Active Merchant Base Has Reached Another New High Buying Merchants on AUTO1.com # Unique Buyers, K 30 31.1 + 22 % YoY 25 25.5 20 15 Q3 2024 Q3 2025 Average Basket # Purchased Cars Per Quarter 6.0 6.2 6.2 5.5 5.0 4.5 Q3 2024 Q3 2025 Merchant Update We are Rolling Out Merchant Financing to Two New Markets to Strengthen Partnerships with Our Dealers 220 359 + 63 % YoY Merchant Sales Financed EUR million 300 200 Merchant Financing Availability Germany, France, Spain, Austria, the Netherlands, Belgium, Poland, Sweden* Markets Launched Newly Added Markets # of Units Financed per Quarter K Units + 65 % YoY 30 33 20 20 10 Q3 2024 Q3 2025 100 Q3 2024 Q3 2025 PORTFOLIO BALANCE: €284 m * Sweden launched early Q4 2025 Merchant Update Our pan-European Sourcing Footprint Continues to Grow Current Drop-off Network Newly Added Drop-Off Locations Existing Drop-Off Locations Number of Branches Q3 2024 486 Q3 2025 690 +42 Branches Added in Q3 2025 10 Retail Update Retail Update Autohero Again Accelerated Y-o-Y Unit Sales and Delivered Record Gross Profit Autohero Units Sold K Units + 42 % YoY + 35 % YoY 30 72 72.8 25 27.0 60 20 19.1 48 53.9 15 36 10 24 5 12 Q3 24 Q3 25 9M 24 9M 25 Retail Gross Profit (EUR Million) Retail GPU (EUR) €2,664 80 €2,263 + 68 % YoY 73 60 40 43 20 Q3 2024 Q3 2025 Retail Gross Profit (EUR Million) Retail GPU (EUR) €2,594 €2,104 225 + 67 % YoY 190 150 114 75 9M 2024 9M 2025 Retail Update We Have Expanded Our In-house Refurbishment Capacity to Enable Continued Unit Growth Sweden Capacity: 4,500 The Netherlands I & II Capacity: 3,500 / 4,100 Belgium Capacity: 18,500 France Capacity 25,000 Germany I Capacity: 35,000 Germany II Capacity: 27,000 Austria Poland Capacity: 18,000 Capacity: 18,000 Spain Capacity: 21,000 Italy I & II Capacity: 23,800 / 50,000 Total Capacity: 248,400 Retail Update We are Constantly Expanding Our Fulfillment Network to Further Advance Customer Experience Pick-up Locations Express pick-up Cars are available within 72h Standard pick-up Average Delivery Time Days 11.9 Faster YoY 20 % Q3 2024 Q3 2025 9.5 Average delivery time refers to the duration between order verification and the handover to the customer Our Long Term Goals 15 Our Long Term Goals We Are Progressing Towards Our Long Term Market Share and Margin Targets 220K 200K 180K 160K 140K 120K 100K 80K 60K 40K 20K 2.5 % AUTO1 Market Share 1 10 % L-T AUTO1 Market Share Target 219 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 2025 27.7 Million Group Units Sold € 700 Billion European Used Car Transactions 2 European Used Car Market Size 3 Group Adj. EBITDA EUR Million Group Adj. EBITDA Margin % Adj. EBITDA Margin Target 5-9 % 3.0 % 100 2.1 % 2.2 % 2.4 % 50 1.2 % 1.4 % 2.1 % 58 37 42 52 0 0.5 0 % -4 17 21 34 -0.3 % Q3 Q4 Q1 Q2 Q3 Q4 23 23 24 24 24 24 Q1 Q2 25 25 Q3 25 16 ¹ Market share: 2024 (based on transactions in markets that are relevant to AUTO1 Group. ² Consolidated Used Car Transactions in the following markets: DE, FR, IT, ES, NL, BE, AT, SE, PT, PL, FI, DK, SK, CZ, EE , LT, LV, HR, RO, HU, BG, UA, GR (where AUTO1 Group is present). 3 Source: OC&C, Finaccord, 2019. Used Car Market Size and Dealer Statistic Comprises EU27 and Norway, Switzerland, Ukraine, Albania, Bosnia and Herzegovina, North Macedonia, Republic of Moldova (excluding Bulgaria, Iceland, Cyprus, Malta), European Used Car. Market Size incl. B2B and Financing Transactions. Q3 2025 Financial Figures And FY 2025 Guidance 17 Financials Q3 & 9M 2025 Financial Figures 218,617 2,124.8 9,719 257.7 1,176 (205.8) (90.9) (52.3) (27.6) 51.9 2.4% 623,161 6,038.3 9,690 725.2 1,162 (572.9) (260.6) (139.0) (78.4) 152.3 2.5% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 YoY 9M 2024 9M 2025 9M YoY Units Sold Revenue (€m) Average Selling Price (€) Gross Profit (€m) GPU* (€) Opex pre SDI (€m) o/w Employee Costs pre SDI (€m) o/w Marketing Expenses (€m) o/w Internal Logistics (€m) Adjusted EBITDA (€m) Adjusted EBITDA Margin 176,632 1,599.4 9,055 187.1 1,059 (152.8) (69.8) (34.4) (22.8) 34.3 2.1% 183,083 1,699.9 9,285 201.3 1,096 (164.2) (74.7) (38.0) (22.1) 37.2 2.2% 204,046 1,942.9 9,522 236.4 1,160 (178.3) (80.8) (42.0) (24.7) 58.1 3.0% 200,498 1,970.6 9,828 231.2 1,148 (188.8) (88.8) (44.7) (26.1) 42.3 2.1% 23.8% 32.8% 7.3% 37.7% 11.0% 34.7% 30.3% 52.0% 21.5% 51.2% 0.3 pp 506,690 4,572.0 9,023 523.4 1,032 (451.3) (210.6) (103.0) (66.6) 72.1 1.6% 23.0% 32.1% 7.4% 38.6% 12.6% 26.9% 23.7% 35.0% 17.8% 111.4% 0.9 pp *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 18 Financials Q3 Demonstrates Strong Operating Leverage, Enabling Further Retail Brand Investment EUR Million +19.8 +6.7 -7.6 -1.6 -2.2 51.9 -5.6 42.3 0 Adj. EBITDA Q2 2025 Gross Profit Unit Uplift Gross Profit GPU Uplift Marketing Costs Internal Logistics Core Opex Employee Cost pre SDI Other Adj. EBITDA Q3 2025 Financials We Maintain a Strong Balance Sheet Total Cash EUR Million No Corporate Debt 630 628 618 600 570 Q2 2025 Q3 2025 Inventory EUR Million Financed through our Inventory ABS Facility 900 879 822 760 620 Q2 2025 Q3 2025 Captive Finance Assets EUR Million Financed through our Captive Finance ABS Facilities 710 786 700 525 350 446 Consumer Loans 175 Q2 2025 Q3 2025 501 Consumer Loans 264 Merchant Loans 284 Merchant Loans Financials Blended spread of 87 bps for 95% loan to value First ever public auto ABS issue combining loans from 2 different markets, Germany and Austria Strong oversubscription, transaction placed with top tier asset managers and banks "STS - Simple, transparent, standardised" verification FinanceHero2 Opens Up More Flexible Refinancing by Uniquely Including Multiple Country Markets Strong external validation of our consumer finance portfolio performance Significant improvement to our net interest margin Significant reduction in capital intensity of consumer finance We are well placed to significantly grow in-house financing offer Class Rating Size Spread DBRS (sf) / S&P (sf) €mm A AAA / AAA 176.7 64 bps B AA / AA- 20.0 85 bps C A (high) / A 15.0 130 bps D A (low) / BBB 12.5 175 bps E BBB (low) / BBB- 12.5 270 bps Risk retention NR/NR 12.5 4.50% 2025 Guidance Upgraded 2025 Guidance Unit Guidance Financial Guidance Units Group Units Merchant Units Autohero 811-845k Up from: 772-817k 715-745k Up from: 680-720k 96-100k Up from: 92-97k Gross Profit EUR 940-975m Up from: EUR 890-940m Adj. EBITDA EUR 180-195m Up from: EUR 160-190m Appendix 23 Long Term Growth Dynamics Outstanding Growth Trajectory Since Foundation Group Units Sold K Units + 24 % YoY 21 9 220 200 180 177 160 140 120 100 80 60 40 20 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Q3 Q3 24 25 Gross Profit EUR Million + 38 % YoY 258 240 220 200 187 180 160 140 120 100 80 60 40 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Q3 24 Q3 25 24 AUTO1 Sourcing Advantages Our C2B Products Generate Superior Value For Our Selling Customers Our Brand Promises Hassle-free and fast online car appraisal Optimal prices based on Pan-European demand aggregation Convenient drop-off locations Immediate payment to our customers Seamless deregistration 90 % Of All Cars AI-Priced Brand Recognition by country Brand Trustpilot Awareness Score DE 65% 4.4 4.3 4.6 4.2 3.8 4.4 4.3 4.4 60% AT 57% BE 60% SE 52% NL 63% ES 69% IT 56% FR Data source: Nielsen Brand Tracker, Q3 2025 (DE/ES/FR/IT: Sample size 3,000 per market, NatRep 18-64 age. NL/SE/BE/AT: Sample 25 size 1,000 per market, NatRep 18-64 age. Data for the Portugal market is not available). Trustpilot, 28.10.2025 Merchant AUTO1.com is the Most Compelling Sourcing Channel for Our Partners THE #1 PLATFORM FOR DEALERS Superb Selection End-to-end Fulfillment >30,000 Cars in Stock Cars Immediately Available Uniform quality standards Most diverse inventory selection Pan-European coverage Delivery across Europe at competitive prices AUTO1 as Single Counterparty Effortless Document and Administration Handling Easy Purchasing Buy Now, Pay Later Dedicated sales support AI-based Recommendation Tools 24/7 Purchasing Experience Premium Return Right Bidding, Payment and Logistics fully integrated Convenient and Seamless Merchant Financing for up to 180 days Financing solution funds 100% of Purchase Price Retail Autohero Strengthens Its Footprint Across Europe By Offering An Outstanding Product To Customers A TRUSTED BRAND Selection Large Multi Brand Selection of Immediately Available Inventory (>16K cars) Detailed and Uniform Car Profiles Convenience Highest Transparency Standards backed by In-house Refurbishment Standard 1 Year Warranty Return Guarantee Value-added Services (incl. Premium Warranty, Trade-in, GAP/PPI Insurance, Spare Tires, etc) Price Hassle Free Car Pricing Pay on Delivery Option Convenient and Integrated Consumer Financing Delivery Convenient pick-up Locations Delivery from 48 h for Selected Inventory Unique Last-mile Delivery Experience Option Our Flywheel Our Flywheel Is In Full Effect And Continues To Drive Future Growth Larger Selectio n AUTO1 Financing MORE SELLERS AI Pricing Transaction Data Matchmaking Technology MORE BUYERS More Branches Higher Purchase Prices Merchant: Financials Segment: Merchant (AUTO1.com) Units Sold Revenue (€m) Average Selling Price (€) Gross Profit (€m) GPU (€) Differences may exist due to rounding Q3 2024 157,582 1,284.2 8,150 144.0 914 Q4 2024 162,530 1,347.5 8,290 153.1 942 Q1 2025 182,062 1,560.5 8,571 180.3 990 Q2 2025 176,674 1,555.2 8,803 169.7 961 Q3 2025 191,632 1,656.6 8,645 185.1 966 Q3 YoY 21.6% 29.0% 6.1% 28.6% 5.7% Q3 QoQ 8.5% 6.5% (1.8%) 9.1% 0.6% 9M 2024 452,805 3,690.4 8,150 409.3 904 9M 2025 550,368 4,772.4 8,671 535.2 972 9M YoY 21.5% 29.3% 6.4% 30.7% 7.5% Retail: Financials Segment: Retail (Autohero) 26,985 468.2 17,351 72.5 2,664 72,793 1,266.0 17,391 190.0 2,594 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 YoY Q3 QoQ 9M 2024 9M 2025 9M YoY Units Sold Revenue (€m) Average Selling Price (€) Gross Profit (€m) GPU* (€) 19,050 315.2 16,545 43.1 2,263 20,553 352.5 17,150 48.2 2,318 21,984 382.4 17,395 56.1 2,569 23,824 415.3 17,433 61.5 2,538 41.7% 48.6% 4.9% 68.1% 17.7% 13.3% 12.7% (0.5%) 17.9% 5.0% 53,885 881.6 16,361 113.9 2,104 35.1% 43.6% 6.3% 66.9% 23.3% *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 30 Captive Finance Captive Finance Non-Recourse Funding AUTO1 Group Sell Loan Assets Pay for Receivables Junior Notes / Risk Retention Servicing Fees + Excess Interests + Final Collections Dutch Foundation 100% Financing SPVs Autohero Funding AUTO1 Car Funding Merchant Finance Finance Hero Senior + Mezzanine Notes Fixed Interest + Repayment External Lenders Banks Asset Management Funds Interest + Principal Consumers Interest + Principal Merchants AUTO1 Consolidates Financing SPVs as it has control and strong economic exposure AUTO1 has no legal ownership of SPVs and no obligation to extend lenders Only recourse of External Lenders is against SPV and the underlying loan receivable Captive Finance financial liabilities are therefore not viewed part of net debt / cash by AUTO1 Downside exposure as high defaults mean SPVs won't repay all Notes, exposing Junior Notes to non-repayment Base case / upside exposure from excess interest 31