FRANKFURT (dpa-AFX) - Auto1 's results only briefly appeased investors on Wednesday. At the Xetra opening, the volatile share price of the online used car dealer jumped by up to 10 percent to its highest level since mid-January, after having already recovered significantly the day before. However, it then quickly slipped into negative territory. The shares recently traded a good six percent lower

Borsianer spoke of "mixed annual figures" and an outlook that was in line with expectations. The adjusted operating loss per share (EBITDA), which was slightly lower than experts had expected, was mentioned positively. However, the market also reported that sales expectations were not met.

The online used car dealer also announced its intention to break even operationally in day-to-day business in 2024. One Borsianer therefore initially spoke of an optimistic outlook, even though analysts on average even had a slightly positive operating result of 21 million euros on the cards. JPMorgan expert Marcus Diebel also said that the outlook seemed "cautious" to him, especially as the statement on the operating result lacked concrete details.

Diebel praised the fact that Auto1's operating momentum is continuing. However, he expects only limited adjustments to current market expectations. Wassachon Udomsilpa from the Canadian bank RBC also emphasized that the company is coming through a difficult, uncertain market environment well. Although the valuation of the shares is attractive, the poor consumer outlook should hold back the share price as long as it does not improve.

Accordingly, shares have been under pressure for some time. The brief recovery attempt since Monday afternoon is hardly significant when looking at the chart. At 3.73 euros, the share price remains close to the record low of 3.56 euros reached on Monday. For comparison: Auto1 went public three years ago at an issue price of 38 euros per share. After an initial jump to almost 57 euros, the downward slide began./tih/men/mis