BERLIN (dpa-AFX) - Online used-car dealer Auto1 aims to continue its growth streak in the new year and significantly boost its operating profit. CEO Christian Bertermann is now eyeing sales of up to one million vehicles, with the lucrative private customer segment (Autohero, wirkaufendeinauto.de) expected to make a noticeable contribution. However, the already struggling share price took another sharp hit, as experts noted that the Berlin-based company delivered a more cautious profit outlook than anticipated.
The MDax-listed stock lost nearly eight percent on Wednesday morning, dropping to 17.90 euros and hitting its lowest point since April 2025. In recent weeks, the share price had already fallen significantly; at the end of January, it was still valued at around 30 euros. According to experts, the reason for the price drop was already due to concerns that potential growth ambitions could become costly.
This year, adjusted earnings before interest, taxes, and depreciation (adjusted EBITDA) are expected to increase to between 250 and 275 million euros, thanks in part to the planned further rise in sales, the company announced. Last year, the Berlin-based firm boosted its operating profit by around four-fifths to 197.5 million euros, meeting analysts' expectations. However, for the new year, expert estimates were already close to the upper end of the newly issued target range.
Analyst Giles Thorne from US investment bank Jefferies saw the new sales outlook as above market expectations, but the operating profit forecast as below. He noted that the management had already indicated it would prioritize growth over profitability in its targets. Nevertheless, Auto1's development suggests the current forecast could prove to be cautious.
It appears that the profit potential from growth is not being fully realized due to additional investments, wrote Marcus Diebel, an expert at JPMorgan. He also pointed out that management tends to set "notoriously cautious" targets. However, he welcomed the targeted sales growth.
"For the first time in our company's history, we have surpassed the 8 billion euro revenue mark and sold more than 100,000 vehicles in the retail segment," CEO and co-founder Bertermann told financial news agency dpa-AFX. The retail segment refers to the private customer business, where Auto1 earns more per car than in its dealings with professional dealers. However, the commercial dealer segment remains significantly larger than the private customer business.
In 2025, total car sales rose by just over one-fifth to 842,271 vehicles; this year, the figure is expected to be between 940,000 and one million vehicles. Revenue grew by around 30 percent to 8.17 billion euros. The company increased gross profit per car by nearly 12 percent to 1,172 euros. This figure represents the gross profit from the difference between selling and purchase price, excluding general costs such as advertising and administration.
In the faster-growing private customer segment, Auto1 earned a gross profit of 2,605 euros per vehicle, about one-fifth more than a year earlier. Here, Auto1 benefits from reconditioning the cars themselves before selling them to the next customer. With professional dealers, however, Auto1 achieves only a gross profit of 976 euros per vehicle./men/mne/mis
