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    AUTO   GB00BVYVFW23

AUTO TRADER GROUP PLC

(AUTO)
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Auto Trader sees online car sales improve, chip crunch threatens supply

06/10/2021 | 05:00am EDT
Cars are displayed outside a showroom in west London

(Reuters) - British online car marketplace Auto Trader Group said it expects to benefit from a "dramatic shift" to online car buying, sending shares up 6.3% on Thursday, but warned that a chip shortage may limit new car production and hit supply.

The Manchester-based company, which sells both new and used cars online, expects revenue from the consumer services and manufacturer sectors to start recovering in the current year, but it is unlikely to reach FY20 levels as a chip shortage has impacted new car advertising.

A global shortage of semiconductors, triggered partly by surging demand for laptops and other electronic products during the pandemic, has shuttered some auto production lines globally.

Chipmakers have said it could take years to resolve the shortage, with the crisis forcing automakers including General Motors Co, Ford Motor Co and Toyota Motor Corp to curtail production of less profitable vehicles.

Auto Trader said demand, combined with periods of constrained supply, led to a year of growth for used cars. Repeated lockdowns also prompted more retailers to adopt a "click and collect" or home delivery model.

"There has been a dramatic shift towards buying online which means we now have more buyers than ever turning to Auto Trader to help with their next car purchase," Chief Executive Officer Nathan Coe said in a statement.

Analysts at Jefferies said the company remains wary on guidance, even though COVID-19 is currently having little impact and more people pick online car buying.

Auto Trader has proposed a final dividend of 5 pence. For the full year ended March 31, its operating profit dropped 38% to 161.2 million pounds, while revenue fell 29% to 262.8 million pounds, as it provided discounted advertising to its retailer customers.

(Reporting by Vishwadha Chander in Bengaluru; Editing by Devika Syamnath)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUTO TRADER GROUP PLC 0.70% 632.4 Delayed Quote.5.37%
FORD MOTOR COMPANY 0.47% 14.845 Delayed Quote.65.19%
GENERAL MOTORS COMPANY -0.06% 59.233 Delayed Quote.42.41%
TOYOTA INDUSTRIES CORPORATION -1.83% 9630 End-of-day quote.17.58%
TOYOTA MOTOR CORPORATION -3.88% 9833 End-of-day quote.23.58%
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Financials
Sales 2021 250 M 348 M 348 M
Net income 2021 115 M 160 M 160 M
Net Debt 2021 16,3 M 22,7 M 22,7 M
P/E ratio 2021 53,8x
Yield 2021 0,47%
Capitalization 6 068 M 8 446 M 8 444 M
EV / Sales 2021 24,4x
EV / Sales 2022 15,3x
Nbr of Employees 953
Free-Float 97,4%
Chart AUTO TRADER GROUP PLC
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Technical analysis trends AUTO TRADER GROUP PLC
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 628,00 GBX
Average target price 652,38 GBX
Spread / Average Target 3,88%
EPS Revisions
Managers and Directors
NameTitle
Nathan James Coe Chief Executive Officer & Executive Director
Jamie Warner Chief Financial Officer
Edmund Warren Williams Non-Executive Chairman
Chris Kelly Technology Director
Catherine Faiers Chief Operating Officer & Director
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