AUTO1 GROUP (AG1) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 results with 248,779 units sold, up 21.9–22% year-over-year, and revenue of €2,437.1 million, up 25.4% year-over-year; gross profit reached €289.4 million, up 22.4% year-over-year.

• Adjusted EBITDA increased to €59.8–60 million, up 3% year-over-year, with margin at 2.5%; net income declined 12% to €26.1 million due to higher costs.

• Operating leverage improved due to higher capacity utilization and reduced OpEx per unit, supported by prior investments.

• Retail (Autohero) and merchant segments both delivered strong growth, with retail units up 47–48% and merchant units up 18.8–19% year-over-year.

• Aided brand awareness for Autohero reached 35%, up 9 percentage points year-over-year across nine European markets.

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 margin increased to 2.5% in Q1 2026 from 2.1% in Q4 2025.

• Group gross profit per unit (GPU) stable at €1,166, with merchant GPU at €957 and retail GPU at €2,555.

• Cash and liquidity at period end was €652 million, with no corporate debt; inventory financed through ABS facilities.

• Net cash from operating activities (pre-captive finance, pre-inventory capex) was €36.6 million, down 38% year-over-year.

Outlook and guidance

• Full-year 2026 guidance confirmed: 940,000–1,000,000 units sold, gross profit €1.1–1.2 billion, adjusted EBITDA €250–275 million.

• Merchant segment expected to contribute 815,000–865,000 units; Retail segment 125,000–135,000 units.

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

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