Online used car dealer Auto1 sees significant growth in 2021

Online used car dealer Auto1 sees significant growth in 2021

Online used car dealer Auto1 sees significant growth in 2021

The online used car dealer Auto1 expects significantly more business again in the current year. After a decline in sales in the Corona year 2020 by almost a fifth to 2.8 billion euros, the revenue should increase to 3.8 to 4.2 billion euros in 2021, as the company announced on Wednesday in Berlin. A loss is also expected in ongoing business, which the group had already promised for the next two years when it went public at the beginning of February.

Before interest, taxes, depreciation and amortization, the profit margin adjusted for one-off effects should be between minus 2.5 and minus 2 percent in 2021 and therefore weaker than in 2020 with minus 0.5 percent. Auto1 invests a lot in the development and marketing of the Autohero end customer portal.

The bottom line was that the loss increased from 121.3 to 143.6 million euros last year. Auto1 had already communicated key data on sales and operational business around the IPO. Since then, the share has risen from the issue price of 38 euros to around 50 euros most recently.

This is of particular interest to WiWo readers today

The day before, the Berlin-based company announced that it was anticipating stronger growth in direct sales of used cars this year than previously thought. However, the company is also issuing new shares amounting to 2.2 percent of the share capital in order to be able to partially implement a participation program for the founders Christian Bertermann and Hakan Koc.

The used car dealer Auto1 goes public. Investors are scrambling for the stocks. That is not understandable.