DGAP-News

AUTO1 Group plans initial public offering (IPO) in Q1 2021 - Seite 2

Christian Bertermann, CEO and co-Founder of AUTO1 Group: "Since founding AUTO1 Group in 2012 we have gone from strength to strength. Today's announcement opens the next chapter for AUTO1 Group. We have a fantastic team and are fully focused on seizing the vast market opportunities ahead of us. The planned IPO is the next logical step to reinforce AUTO1 Group as the go-to online destination for buying and selling used cars in Europe. We intend to invest significantly over the next years to further strengthen our Autohero brand and operations to deliver the best experience to our customers. Our mission is to build the best way to buy and sell cars online."

Markus Boser, CFO at AUTO1 Group: "AUTO1 Group has established a unique fully digital offering for buying and selling used cars, demonstrated its path to profitability and intends to utilize the liquidity from the intended IPO to invest in its continued transformation of the market. The planned IPO will support AUTO1 Group's growth plans, including expanding our retail business Autohero, which we believe presents a huge opportunity that we can seize based on our existing platform."

Clear leadership position and unique platform to create superior customer experience
AUTO1 Group operates Europe's leading platform for the purchase and sale of used cars. Its offering is fully digital and based on a vertically integrated platform, which includes highly innovative end-to-end technology solutions and an unmatched data set. With more than 615,000 used cars sold in 2019 alone, AUTO1 Group is Europe's preferred destination for buying and selling used cars, with approximately twice as many used cars sold compared to its closest peer in the European Union^[1].

AUTO1 Group was founded by Christian Bertermann and Hakan Koç in August 2012. In the following years, AUTO1 Group swiftly expanded its operations to more than 30 markets across Europe. Between 2014 and 2019, revenues grew rapidly at a CAGR of approximately 93% to €3,476 million. Under its well-known consumer brands such as wirkaufendeinauto.de and its equivalents in other markets, AUTO1 Group offers a compelling and technologically advanced online experience for consumers in ten European countries to sell their used cars quickly and at competitive, haggle free prices. In addition, the Company provides professional dealers with fast and convenient remarketing solutions, enabling these dealers to quickly market excess inventory at scale.