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    AG1   DE000A2LQ884

AUTO1 GROUP SE

(AG1)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 01/19 03:58:01 pm
15.465 EUR   -1.87%
09:10aAUTO1 : Buy rating from Deutsche Bank
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01/18AUTO1 : UBS remains its Buy rating
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01/18AUTO1 : JP Morgan reiterates its Neutral rating
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AUTO1 Group SE: Autohero secures in-house production capacity of up to 35,000 cars in Germany

11/15/2021 | 01:32am EST

DGAP-News: AUTO1 Group SE / Key word(s): Strategic Company Decision
AUTO1 Group SE: Autohero secures in-house production capacity of up to 35,000 cars in Germany

15.11.2021 / 07:30
The issuer is solely responsible for the content of this announcement.


Corporate News

AUTO1 Group SE: Autohero secures in-house production capacity of up to 35,000 cars in Germany

- The in-house production site allows Autohero to respond to the rapidly increasing demand

- Production capacity of approx. 35,000 vehicles per year at full capacity

- More than 300 new specialist jobs expected to be created at Autohero

Berlin, November 15, 2021 - 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 the Berlin/Brandenburg region, 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, which will lead to a faster and more efficient production process.

With available space of over 100,000 m², the production center will add up to 35,000 cars annual production capacity. Autohero thus takes another major step in further vertically integrating its production process.

Following the production process, sold cars will be dispatched to our delivery hubs and locally sold cars will directly be picked up by our glass trucks and delivered to customers. To meet Autohero's superb quality standard, the production center will create more than 300 new jobs for car specialists across different steps of the production. Such steps include quality control, followed by reconditioning, cleaning, as well as capturing photos & videos to ensure maximum transparency on the customer's end. The production center is expected to commence operations by the beginning of next year.

Christian Bertermann, CEO and co-founder of AUTO1 Group, says: "??We are truly impressed by customer demand. We see enormous interest from customers to buy their next car entirely online, fully embracing the outstanding Autohero buying experience. The launch of our new production center will enable us to offer significantly more cars to customers. Following the successful opening of our first in-house production center in Hemau, Germany, we have now reached another important milestone for our in-house production strategy."

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 world-class 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 ?2.83 billion in 2020. 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

Contact
Philip Reicherstorfer
Director Group Treasury
Phone: +49 (0)30 - 2016 38 213
Email: press@auto1-group.com

AUTO1 Group SE | Bergmannstrasse 72 | 10961 Berlin | Germany



15.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: AUTO1 Group SE
Bergmannstraße 72
10961 Berlin
Germany
Internet: https://www.auto1-group.com/de/
ISIN: DE000A2LQ884
WKN: A2LQ88
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 1248876

 
End of News DGAP News Service

1248876  15.11.2021 

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Financials
Sales 2021 4 542 M 5 156 M 5 156 M
Net income 2021 -258 M -293 M -293 M
Net cash 2021 134 M 152 M 152 M
P/E ratio 2021 -11,4x
Yield 2021 -
Capitalization 3 231 M 3 667 M 3 667 M
EV / Sales 2021 0,68x
EV / Sales 2022 0,54x
Nbr of Employees 4 325
Free-Float 44,7%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 15,47 €
Average target price 47,31 €
Spread / Average Target 206%
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Managers and Directors
Christian David Karl Bertermann Chief Executive Officer
Markus Boser Chief Financial Officer
Gerhard Cromme Chairman-Supervisory Board
Kevin Graham Senior Vice President-Technology
Moritz LŘck Senior Vice President-Sales & Operations
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