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.

• Gross profit rose 22.4% year-over-year to €289.4 million, with adjusted EBITDA up 3.0% to €59.8 million.

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

• Net income declined 12% to €26.1 million due to higher depreciation, finance costs, and taxes.

• Strong growth in both Merchant and Retail segments, driven by a scalable, vertically integrated business model.

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, with margin at 2.5% in Q1 2026.

• Group GPU stable at €1,166 (up 0.4% year-over-year); retail GPU €2,555 (down 0.6%), merchant GPU €957 (down 3.4%).

• Cash and cash equivalents at quarter-end were €652 million, with no corporate debt.

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

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.