Autotrader Group (AUTO) H2 2026 earnings summary

Executive summary

• Revenue, operating profit, and EPS all grew year-on-year despite challenging trading conditions and retailer profitability pressures, particularly in late 2025.

• Strengthened position with car buyers, with 11x more time spent on the platform than the nearest competitor.

• Significant investment continues in AI, cloud, and product innovation, with Deal Builder and Co-Driver products driving differentiation.

• Retailer numbers, stock, and upsells have been growing since year-end, signaling recovery from the low point.

• Returned £463m to shareholders via accelerated share buybacks and proposed a final dividend of 7.8p per share.

Financial highlights

• Group revenue increased 4% to £624.3m; Autotrader segment up 4% to £585.3m, Autorama up 7% to £39.0m.

• Group operating profit increased 4% to £408m; operating margin stable at 63% (total) and 70% (core Auto Trader).

• Basic EPS grew 8% to 34.17p; cash generated from operations up 5% to £418m.

• Dividend per share increased 9% to 11.6p.

• Autorama revenue £39m, operating loss reduced to £2m; integration with core business ongoing.

Outlook and guidance

• FY 2027 group operating profit expected between £395m–£415m; high single-digit EPS growth anticipated.

• Revenue was flat in April 2026 but expected to grow in H2 as retailer forecourts, stock, and package penetration improve.

• Autorama expected to make a small profit in FY 2027, with commission/ancillary revenue up 8–12%.

• Transition to a single operating segment in 2027 as leasing transactions consolidate.

• Continued acceleration of share buybacks, targeting £500m–£600m in FY 2027.