Auto1 jumps on solid Q3, improved guidance

AUTO1 SE

08/11/2023 08:18

** Shares of Auto1  AG1G.DE  jump almost 12% as the German
online used-car seller reported Q3 profitability 'ahead of year
end targets', improved EBITDA guidance
    ** AUTO1 Group reported positive adjusted EBITDA of 0.5
million euros, improving it 35.7 million euros year over year
    ** The group now sees adjusted EBITDA outlook in a range of
-39 to -49 million euros from -50 to -70 million euros for the
full year
    ** "We expect consensus to slightly move up its EBITDA
expectations but the very positive profitability development is
likely to drive the shares higher today," says J.P. Morgan 
    ** The stock is at the top of the German small-caps index
 .SDAXI 

    
 

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))