AUTO1 GROUP (AG1) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 results with 248,779 units sold, up 21.9% year-over-year, and revenue of €2,437.1 million, up 25.4% year-over-year, with gross profit rising 22.4% to €289.4 million.

• Adjusted EBITDA reached €59.8 million, up 3% year-over-year, with margin at 2.5% due to higher personnel, marketing, and logistics costs.

• Net income declined 12% year-over-year to €26.1 million, impacted by higher depreciation, finance, and tax expenses.

• Operating leverage improved, with OPEX per unit reduced and margin expansion supported by prior capacity investments.

• Growth driven by a scalable, vertically integrated business model and technology platform.

Financial highlights

• Group revenue grew 25.4% year-over-year to €2,437.1 million; gross profit rose 22.4% to €289.4 million.

• Adjusted EBITDA reached €59.8 million, up 3% from Q1 2025; net income was €26.1 million, down 12.4%.

• Group gross profit per unit (GPU) stable at €1,166 (up 0.4% year-over-year).

• Cash and cash equivalents at period end rose to €652.0 million from €604.0 million at the start of the quarter, with no corporate debt.

• Inventory ABS liabilities increased 4% to €916.5 million; consumer finance ABS liabilities up 10.7% to €539.0 million.

Outlook and guidance

• Full-year 2026 guidance confirmed: 940,000–1,000,000 group units, 815,000–865,000 merchant units, 125,000–135,000 retail units.

• Gross profit expected at €1.1–1.2 billion and adjusted EBITDA at €250–275 million.

• Targeting the top end of guidance based on Q1 run rates, with potential for retail volumes to exceed current guidance.

• EBITDA generation expected to be stronger in H2 than H1.