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    AG1   DE000A2LQ884

AUTO1 GROUP SE

(AG1)
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Real-time Estimate Tradegate  -  03:59 2022-09-28 pm EDT
7.433 EUR   -1.61%
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AUTO1 Group SE: Autohero secures in-house production capacity of up to 18,500 cars in Belgium

08/09/2022 | 01:26am EDT
AUTO1 Group SE: Autohero secures in-house production capacity of up to 18,500 cars in Belgium

Berlin, August 9 2022

  • New in-house production site in Belgium is an integral part of the group's profitability strategy
  • Production capacity of approx. 18,500 vehicles per year at full capacity
  • More than 200 new jobs expected to be created at Autohero

Berlin, August 9, 2022 - AUTO1 Group, Europe's leading digital automotive platform for buying and selling used cars online, announces today the signing of a rent agreement for a production center in Ath, for the purpose of reconditioning used cars for Autohero. Bringing used car production in-house allows Autohero to fully control each step of the process and is an integral part of the group's profitability strategy.

The facility in Ath, 50km from Brussels, consists of an available space of 50.000 m². Autohero's production center will add up to 18,500 cars per year at full capacity. It is closely linked to the majority of AUTO1 purchase branches in Belgium, enabling efficient logistic routes. AUTO1 Group is expecting to create more than 200 new jobs for car specialists across different stages of the production. The stages include quality control, reconditioning, cleaning, as well as capturing photos & videos to ensure excellent car quality. The production center in Ath commences operations in Q4 2022.

Having signed the seventh production center agreement for Autohero in less than a year, AUTO1 Group's total internal production capacity now stands at 132,000 vehicles per year at full capacity.

Christian Bertermann, CEO and Co-founder of AUTO1 Group, says: "Following the successful opening of our in-house production centers in four European markets, the signing of our first own production center in Belgium marks another important milestone within our growth and profitability strategy. The production center in Ath allows us to create ideal conditions for Autohero in Belgium, enabling us to offer customers significantly more vehicles of outstanding quality."

About Autohero

Autohero, the fastest growing online seller for used cars in the European Union, is a brand of AUTO1 Group and enables its customers to buy used cars conveniently, safely and individually. The company offers vehicles from its own inventory and sells them with the outstanding Autohero quality standard. Buyers benefit from free delivery of the vehicle directly to their front door or optionally to a pick-up location near the customer. In addition to a 21-day money-back guarantee, all vehicles come with a one-year warranty.

About AUTO1 Group

Founded in 2012, AUTO1 Group is a multi-brand technology company that is building the best way to buy and sell cars online. Its local European consumer brands like wirkaufendeinauto.de offer consumers the fastest and easiest way to sell their car. Its merchant brand, AUTO1.com, is Europe's largest wholesale platform for car trading professionals. With its retail brand Autohero, AUTO1 Group is using its technology, scale and operational excellence to develop the best consumer experience to buy a car online. AUTO1 Group is operating in over 30 countries and achieved revenues of €4.78 billion in 2021. Following its successful IPO in February 2021, the group's shares are trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol AG1 and the ISIN DE000A2LQ884. Since 21 June 2021, AUTO1 is a constituent of the MDAX index of the Deutsche Börse (German Stock Exchange).

For more information please visit www.auto1-group.com

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Disclaimer

AUTO1 Group SE published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 05:25:05 UTC.


© Publicnow 2022
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Sales 2022 6 653 M 6 416 M 6 416 M
Net income 2022 -239 M -230 M -230 M
Net cash 2022 26,5 M 25,5 M 25,5 M
P/E ratio 2022 -6,49x
Yield 2022 -
Capitalization 1 568 M 1 512 M 1 512 M
EV / Sales 2022 0,23x
EV / Sales 2023 0,23x
Nbr of Employees 6 214
Free-Float 45,4%
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Christian David Karl Bertermann Chief Executive Officer
Markus Boser Chief Financial Officer
Gerhard Cromme Chairman-Supervisory Board
Kevin Graham Senior Vice President-Technology
Moritz Lück Senior Vice President-Sales & Operations
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