AUTO1 GROUP (AG1) Q1 2025 earnings summary

Executive summary

• Achieved record Q1 2025 results with 204,046 vehicles sold (+24.6% YoY), driven by strong demand and operational leverage, setting new highs in gross profit and adjusted EBITDA.

• Revenue rose 33.6% year-over-year to €1,942.9 million, with revenue per unit increasing to €9,522.

• Gross profit reached €236.4 million, up 45.1% year-over-year, and adjusted EBITDA surged 241.9% to €58.1 million, with margin improving to 3.0% from 1.2% in Q1 2024.

• Net income for Q1 2025 was €29.9 million, compared to a loss of €3.5 million in Q1 2024.

• Upgraded FY 2025 guidance for gross profit and adjusted EBITDA, reflecting continued operational momentum.

Financial highlights

• Gross profit margin and GPU improved, with GPU up 16.8% year-over-year to €1,160.

• Adjusted EBITDA margin reached 3.0%, up from 1.2% in Q1 2024.

• Cash and cash equivalents at quarter-end were €601.3 million, with no corporate debt.

• Inventories increased to €720.7 million, and total assets rose to €2,322.9 million.

• Cash flow from operating activities was negative €40.6 million, mainly due to growth in receivables.

Outlook and guidance

• Full-year 2025 guidance: 735,000–795,000 group units, with 650,000–700,000 merchant units and 85,000–95,000 retail units.

• Gross profit guidance raised to €845–€905 million (previously €800–€875 million).

• Adjusted EBITDA guidance increased to €150–€180 million (previously €135–€165 million).

• Q2 expected to be seasonally weaker, with sequential declines in units and profitability, but double-digit year-on-year growth in merchant units anticipated.