Nachrichten |
| Datum / Uhrzeit |
Titel |
Bewertung |
| 24.08.25 06:00:53 |
Wie hoch ist der tatsächliche Wert von AUTO1 Group SE? |
 |
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Okay, here's a 600-word summary of the text, followed by a German translation:
**Summary**
This analysis evaluates AUTO1 Group’s (AG1) fair value using a two-stage Discounted Cash Flow (DCF) model. The core finding is that based on the model, AG1’s current share price of €28.92 suggests the company is trading around its fair value, estimated at €27.50. The analyst price target is slightly higher at €29.24 (6.3% above the fair value).
The DCF model employs a two-stage approach. The first stage (10 years) forecasts higher growth rates, gradually leveling off toward the terminal value. The core assumptions driving the forecast are free cash flow (FCF) estimates, initially derived from analyst projections but later extrapolated from prior FCF figures. The model uses a discount rate of 6.4%, driven by a leveraged beta of 1.179— reflecting the company’s volatility compared to the broader market.
The first stage estimates a present value (PV) of €1.7 billion for the next 10 years of FCF, reflecting growth rates of 19.25%, 13.89%, 10.14%, 7.52%, and 5.68% over time. The terminal value is calculated at €8.1 billion, based on a conservative 1.4% growth rate (the average of the last 5 years’ government bond yields). The total equity value, combining the ten-year cash flows and the terminal value, comes to €6.0 billion. Dividing this by the number of outstanding shares results in the estimated fair value.
The analysis highlights the sensitivity of the valuation to key assumptions. The model’s weaknesses are acknowledged: it doesn’t account for industry cyclicality, or the company’s future capital requirements. The use of a single cost of equity (rather than a weighted average cost of capital) is also noted.
AUTO1 Group's strengths, according to the analysis, include adequate earnings coverage of debt, and forecast annual earnings growth outpacing the German market. However, weaknesses identified include a relatively high price-to-earnings ratio and the estimated fair value, alongside a forecast for slower revenue growth than the 20% growth rate.
The report stresses that the DCF is a *tool for testing assumptions* rather than a definitive valuation. Changing discount rates or growth forecasts can drastically alter the result.
Finally, the report suggests investors examine AUTO1 Group through a broader lens, considering specific risks (like revenue growth forecasts) and other key factors. Simply Wall St provides daily updates to the DCF calculation and offers additional resources for investors.
**German Translation**
**Zusammenfassung**
Diese Analyse bewertet den fairen Wert von AUTO1 Group (AG1) mithilfe eines zweistufigen Discounted Cash Flow (DCF)-Modells. Das zentrale Ergebnis ist, dass das Modell, der aktuelle Aktienkurs von €28,92 den Wert von €27,50 für das Unternehmen nahelegt. Der Analysten-Kursziel liegt leicht höher bei €29,24 (6,3% über dem fairen Wert).
Das DCF-Modell verwendet einen zweistufigen Ansatz. Die erste Stufe (10 Jahre) prognostiziert höhere Wachstumsraten, die sich allmählich zum Terminalwert hin angleichen. Die wichtigsten Annahmen, die die Prognose treiben, sind Schätzungen des freien Cashflows (FCF), die zunächst von Analystenprognosen abgeleitet, aber später aus vorherigen FCF-Werten extrapoliert werden. Das Modell verwendet einen Abzinsungssatz von 6,4 %, der durch ein begleitendes Beta von 1,179 – das die Volatilität des Unternehmens im Vergleich zum Gesamtmarkt widerspiegelt – bestimmt wird.
Die erste Stufe schätzt einen Barwert (PV) von 1,7 Milliarden Euro für die nächsten 10 Jahre des FCF, was Wachstumsraten von 19,25 %, 13,89 %, 10,14 %, 7,52 % und 5,68 % im Laufe der Zeit widerspiegelt. Der Terminalwert wird mit 8,1 Milliarden Euro berechnet, basierend auf einem konservativen Wachstum von 1,4 % (das Durchschnitt der letzten 5 Jahre der Staatsanleihenrenditen) . Der Gesamt-Equity-Wert, der die 10-jährigen Cashflows und den Terminalwert kombiniert, beträgt 6,0 Milliarden Euro. Die Division durch die Anzahl der ausstehenden Aktien ergibt den geschätzten fairen Wert.
Die Analyse hebt die Sensitivität der Bewertung gegenüber wichtigen Annahmen hervor. Die Schwächen des Modells werden anerkannt: Es berücksichtigt weder die zyklische Natur der Branche noch die zukünftigen Kapitalanforderungen des Unternehmens. Die Verwendung eines einzelnen Kosten des Kapitals (anstelle eines gewichteten durchschnittlichen Kapitalkosten) wird ebenfalls hervorgehoben.
AUTO1 Groups Stärken, laut der Analyse, sind eine ausreichende Deckung der Gewinne durch Schulden und prognostizierte jährliche Gewinnwachstum, das höher ist als in Deutschland, und die langsamere Umsatzwachstum als 20% pro Jahr. Es werden jedoch auch Schwächen identifiziert, darunter ein relativ hoher Kurs-Gewinn-Verhältnis und der geschätzte faire Wert, sowie eine Prognose für langsameres Umsatzwachstum als 20% pro Jahr.
Der Bericht betont, dass das DCF ein *Werkzeug zum Testen von Annahmen* und nicht eine endgültige Bewertung ist. Änderungen der Abzinsungsraten oder Wachstumsraten können das Ergebnis drastisch verändern.
Schließlich schlägt der Bericht vor, dass Investoren AUTO1 Group durch eine breitere Perspektive betrachten, einschließlich spezifischer Risiken (wie Umsatzwachstumsprognosen) und anderer wichtiger Faktoren. Simply Wall St stellt tägliche Updates des DCF-Berechnungs und bietet zusätzliche Ressourcen für Investoren. |
| 07.08.25 04:43:01 |
Ist AUTO1 Group SE (ETR:AG1) bei 27,88 € gut aussehen? |
|
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Während die AUTO1 Group SE (ETR:AG1) möglicherweise nicht die größte Marktkappe um herum haben konnte, verzeichnete sie in den letzten Monaten einen signifikanten Aktienkursanstieg von 45 % auf dem XTRA. Der jüngste Sprung im Aktienkurs hat dazu geführt, dass das Unternehmen in der Nähe seines 52-wöchigen Hochs gehandelt hat. Als Mid-Cap-Aktien mit hoher Deckung durch Analysten, könnten Sie davon ausgehen, dass die jüngsten Änderungen in der Unternehmensaussicht bereits in den Aktienkurs. Könnte die Aktie jedoch noch zu einem relativ günstigen Preis handeln? Lassen Sie uns einen Blick auf die Ausblicke und den Wert der AUTO1-Gruppe werfen, basierend auf den jüngsten Finanzdaten, um zu sehen, ob die Möglichkeit noch besteht.
Wir haben 21 US-Bestände gefunden, die prognostiziert werden, eine Dividendenrendite von über 6% im nächsten Jahr zu zahlen. Sehen Sie die vollständige Liste kostenlos.
Was ist AUTO1 Gruppe wert?
Der Bestand scheint aktuell nach unserem Bewertungsmodell recht geschätzt zu sein. Es handelt sich um etwa 0,14% über unserem Eigenwert, was bedeutet, wenn Sie die AUTO1 Group heute kaufen, würden Sie einen relativ angemessenen Preis dafür zahlen. Und wenn Sie glauben, dass der wahre Wert des Unternehmens 27,84 € ist, gibt es nur einen unbedeutenden Nachteil, wenn der Preis auf seinen tatsächlichen Wert fällt. Obwohl es in der Zukunft eine Chance geben kann. Dies liegt daran, dass die Beta der AUTO1-Gruppe (ein Maß für Aktienkursvolatilität) hoch ist, was bedeutet, dass ihre Preisbewegungen gegenüber dem Rest des Marktes übertrieben werden. Wenn der Markt bärisch ist, werden die Aktien des Unternehmens wahrscheinlich um mehr als den Rest des Marktes sinken, was eine hervorragende Kaufmöglichkeit bietet.
Schauen Sie sich unsere neueste Analyse für AUTO1 Group an
Welche Art von Wachstum wird AUTO1 Group generieren? XTRA:AG1 Ergebnis- und Umsatzwachstum 7. August 2025
Investoren, die nach Wachstum in ihrem Portfolio suchen, können die Aussichten eines Unternehmens vor dem Kauf seiner Aktien berücksichtigen wollen. Obwohl Wertinvestoren argumentieren, dass es der intrinsische Wert in Bezug auf den Preis, der am meisten wichtig ist, wäre eine überzeugendere Investitionsarbeit ein hohes Wachstumspotenzial zu einem günstigen Preis. Das Ergebnis der AUTO1 Gruppe in den nächsten Jahren dürfte sich verdoppeln, was eine sehr optimistische Zukunft voraussetzt. Dies sollte zu stärkeren Cashflows führen, was zu einem höheren Aktienwert führt.
Was das für Sie bedeutet
Sind Sie Aktionär? Es scheint, als hätte der Markt bereits in den positiven Ausblicken der AG1 gewertet, wobei Aktien um ihren Fair Value gehandelt haben. Es gibt aber auch andere wichtige Faktoren, die wir heute nicht berücksichtigt haben, wie die finanzielle Stärke des Unternehmens. Haben sich diese Faktoren seit dem letzten Mal geändert, als Sie auf den Lagerbestand schauten? Haben Sie genug Überzeugung zu kaufen, wenn der Preis unter dem wahren Wert schwankt?
Sind Sie ein potenzieller Investor? Wenn Sie Registerkarten auf AG1 gehalten haben, können Sie jetzt nicht die günstigste Zeit zum Kauf sein, da es sich um den fairen Wert handelt. Der positive Ausblick ist jedoch für das Unternehmen erfreulich, was bedeutet, dass es sich lohnt, tiefer in andere Faktoren wie die Stärke seiner Bilanz einzutauchen, um den nächsten Preisrückgang zu nutzen.
Geschichte geht weiter
Wenn Sie tiefer in die AUTO1-Gruppe eintauchen möchten, würden Sie sich auch darüber informieren, welche Risiken sie derzeit ausgesetzt sind. Unsere Analyse zeigt 3 Warnzeichen für die AUTO1 Group (2 nicht zu gut bei uns sitzen!) und wir empfehlen Ihnen, diese vor der Investition zu betrachten.
Wenn Sie nicht mehr an der AUTO1 Group interessiert sind, können Sie unsere kostenlose Plattform nutzen, um unsere Liste von über 50 anderen Aktien mit einem hohen Wachstumspotenzial zu sehen.
Haben Sie Feedback zu diesem Artikel? Über den Inhalt? Kontaktieren Sie uns direkt. Alternativ, E-Mail Editorial-team (at) einfachwallst.com.
Dieser Artikel von Simply Wall St ist allgemein in der Natur. Wir liefern Kommentare basierend auf historischen Daten und Analystenprognosen nur unter Verwendung einer unvoreingenommenen Methodik und unsere Artikel sind nicht als Finanzberatung gedacht. Es stellt keine Empfehlung dar, Aktien zu kaufen oder zu verkaufen, und berücksichtigt nicht Ihre Ziele oder Ihre finanzielle Situation. Wir wollen Ihnen langfristig fokussierte Analyse durch grundlegende Daten bringen. Beachten Sie, dass unsere Analyse möglicherweise nicht in den neuesten preisempfindlichen Unternehmensankündigungen oder qualitativen Material ausschlaggebend ist. Einfach Wand St hat keine Position in den genannten Beständen.
Kommentare anzeigen |
| 29.11.23 06:35:52 |
When Will AUTO1 Group SE (ETR:AG1) Breakeven? |
 |
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
With the business potentially at an important milestone, we thought we'd take a closer look at AUTO1 Group SE's (ETR:AG1) future prospects. AUTO1 Group SE operates a digital automotive platform for buying and selling used cars online in Europe. The €1.3b market-cap company posted a loss in its most recent financial year of €246m and a latest trailing-twelve-month loss of €152m shrinking the gap between loss and breakeven. The most pressing concern for investors is AUTO1 Group's path to profitability – when will it breakeven? In this article, we will touch on the expectations for the company's growth and when analysts expect it to become profitable.
See our latest analysis for AUTO1 Group
According to the 10 industry analysts covering AUTO1 Group, the consensus is that breakeven is near. They anticipate the company to incur a final loss in 2024, before generating positive profits of €29m in 2025. Therefore, the company is expected to breakeven roughly 2 years from now. How fast will the company have to grow each year in order to reach the breakeven point by 2025? Working backwards from analyst estimates, it turns out that they expect the company to grow 99% year-on-year, on average, which signals high confidence from analysts. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. earnings-per-share-growth
Underlying developments driving AUTO1 Group's growth isn’t the focus of this broad overview, though, keep in mind that by and large a high growth rate is not out of the ordinary, particularly when a company is in a period of investment.
One thing we would like to bring into light with AUTO1 Group is its debt-to-equity ratio of 106%. Generally, the rule of thumb is debt shouldn’t exceed 40% of your equity, which in this case, the company has significantly overshot. A higher level of debt requires more stringent capital management which increases the risk in investing in the loss-making company.
Story continues
Next Steps:
This article is not intended to be a comprehensive analysis on AUTO1 Group, so if you are interested in understanding the company at a deeper level, take a look at AUTO1 Group's company page on Simply Wall St. We've also compiled a list of pertinent aspects you should further examine:
Valuation: What is AUTO1 Group worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether AUTO1 Group is currently mispriced by the market. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on AUTO1 Group’s board and the CEO’s background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. |
| 02.11.23 04:04:59 |
AUTO1 Group SE's (ETR:AG1) Intrinsic Value Is Potentially 20% Below Its Share Price |
|
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
Key Insights
Using the 2 Stage Free Cash Flow to Equity, AUTO1 Group fair value estimate is €4.56 Current share price of €5.66 suggests AUTO1 Group is potentially 24% overvalued The €10.28 analyst price target for AG1 is 126% more than our estimate of fair value
How far off is AUTO1 Group SE (ETR:AG1) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.
Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.
Check out our latest analysis for AUTO1 Group
What's The Estimated Valuation?
We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.
Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:
Story continues
10-year free cash flow (FCF) forecast
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Levered FCF (€, Millions) -€64.0m €37.0m €45.5m €52.8m €58.8m €63.6m €67.2m €70.0m €72.1m €73.7m Growth Rate Estimate Source Analyst x2 Analyst x2 Est @ 22.87% Est @ 16.12% Est @ 11.39% Est @ 8.08% Est @ 5.76% Est @ 4.14% Est @ 3.00% Est @ 2.21% Present Value (€, Millions) Discounted @ 6.3% -€60.2 €32.8 €37.9 €41.4 €43.3 €44.1 €43.9 €43.0 €41.6 €40.0
("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = €308m
We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (0.4%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 6.3%.
Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = €74m× (1 + 0.4%) ÷ (6.3%– 0.4%) = €1.2b
Present Value of Terminal Value (PVTV)= TV / (1 + r)10= €1.2b÷ ( 1 + 6.3%)10= €676m
The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is €984m. In the final step we divide the equity value by the number of shares outstanding. Compared to the current share price of €5.7, the company appears slightly overvalued at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. dcf
Important Assumptions
The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at AUTO1 Group as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.3%, which is based on a levered beta of 1.188. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.
SWOT Analysis for AUTO1 Group
Strength
Cash in surplus of total debt.
Weakness
Expensive based on P/S ratio and estimated fair value.
Opportunity
Forecast to reduce losses next year.
Has sufficient cash runway for more than 3 years based on current free cash flows.
Threat
Debt is not well covered by operating cash flow.
Not expected to become profitable over the next 3 years.
Looking Ahead:
Valuation is only one side of the coin in terms of building your investment thesis, and it ideally won't be the sole piece of analysis you scrutinize for a company. It's not possible to obtain a foolproof valuation with a DCF model. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. What is the reason for the share price exceeding the intrinsic value? For AUTO1 Group, we've put together three important items you should consider:
Risks: You should be aware of the 1 warning sign for AUTO1 Group we've uncovered before considering an investment in the company. Future Earnings: How does AG1's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!
PS. Simply Wall St updates its DCF calculation for every German stock every day, so if you want to find the intrinsic value of any other stock just search here.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. |
| 14.07.23 05:35:33 |
Shareholders Should Be Pleased With AUTO1 Group SE's (ETR:AG1) Price |
|
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
With a median price-to-sales (or "P/S") ratio of close to 0.4x in the Specialty Retail industry in Germany, you could be forgiven for feeling indifferent about AUTO1 Group SE's (ETR:AG1) P/S ratio of 0.3x. However, investors might be overlooking a clear opportunity or potential setback if there is no rational basis for the P/S.
Check out our latest analysis for AUTO1 Group ps-multiple-vs-industry
How AUTO1 Group Has Been Performing
AUTO1 Group certainly has been doing a good job lately as it's been growing revenue more than most other companies. It might be that many expect the strong revenue performance to wane, which has kept the P/S ratio from rising. If you like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's not quite in favour.
If you'd like to see what analysts are forecasting going forward, you should check out our free report on AUTO1 Group.
Is There Some Revenue Growth Forecasted For AUTO1 Group?
In order to justify its P/S ratio, AUTO1 Group would need to produce growth that's similar to the industry.
Taking a look back first, we see that the company grew revenue by an impressive 16% last year. The strong recent performance means it was also able to grow revenue by 84% in total over the last three years. Accordingly, shareholders would have definitely welcomed those medium-term rates of revenue growth.
Turning to the outlook, the next three years should generate growth of 6.3% per year as estimated by the eleven analysts watching the company. With the industry predicted to deliver 6.4% growth per annum, the company is positioned for a comparable revenue result.
With this information, we can see why AUTO1 Group is trading at a fairly similar P/S to the industry. Apparently shareholders are comfortable to simply hold on while the company is keeping a low profile.
The Key Takeaway
We'd say the price-to-sales ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.
Our look at AUTO1 Group's revenue growth estimates show that its P/S is about what we expect, as both metrics follow closely with the industry averages. At this stage investors feel the potential for an improvement or deterioration in revenue isn't great enough to push P/S in a higher or lower direction. Unless these conditions change, they will continue to support the share price at these levels.
And what about other risks? Every company has them, and we've spotted 2 warning signs for AUTO1 Group you should know about.
If these risks are making you reconsider your opinion on AUTO1 Group, explore our interactive list of high quality stocks to get an idea of what else is out there.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Join A Paid User Research Session
You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here |
| 09.11.22 05:34:20 |
AUTO1 Group Reports Third Quarter 2022 Earnings |
|
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
AUTO1 Group (ETR:AG1) Third Quarter 2022 Results
Key Financial Results
Revenue: €1.71b (up 36% from 3Q 2021). Net loss: €55.1m (loss widened by 58% from 3Q 2021). earnings-and-revenue-growth
All figures shown in the chart above are for the trailing 12 month (TTM) period
AUTO1 Group Earnings Insights
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Specialty Retail industry in Germany.
Performance of the German Specialty Retail industry.
The company's shares are up 16% from a week ago.
Risk Analysis
You should learn about the 4 warning signs we've spotted with AUTO1 Group.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Join A Paid User Research Session
You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here |
| 23.06.21 06:48:02 |
SoftBank’s Son May Stay on as Chairman Past Age of 69 |
|
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
(Bloomberg) -- Masayoshi Son isn’t letting go of the reins at SoftBank Group Corp. anytime soon, even as the founder tells shareholders he’s taking the issue of his succession seriously.
Son, who has often indicated he plans to find his replacement in his 60s, may stay on as the chairman into his 70s, the billionaire told shareholders during their annual meeting Wednesday. Son may relinquish the chief executive officer title and hopes to have an idea of who his successor will be at around 69. For now, the 63-year-old CEO, unusually wearing reading glasses during his presentation, said he feels energized “thanks to advanced medical technology.”
Coming up with a plan for who would succeed Son is SoftBank’s biggest challenge, according to Yuko Kawamoto, who just stepped down as director after one year on the job. She had been the first female board member for the conglomerate and shareholders approved the appointment of another, Koei Tecmo Holdings Co. Chairman Keiko Erikawa, at the meeting.
Investors also asked about plans for more share repurchases and the possibility of taking the company private through a slow-motion management buyout.
Son declined to comment on the prospects of a buyout. SoftBank has discussed the idea of such a buyout, Bloomberg News reported in December. If put into action, the plan would have the company buy back and cancel its own shares and thereby push up the percentage that Son himself owns.
Read more: SoftBank CEO Says He ‘Shouldn’t’ Comment on Slow-Motion Buyout
“Many things are possible, but it’s hard to comment on it. I shouldn’t comment on it. No comment,” Son said.
SoftBank in May reported the largest quarterly net income ever for a Japanese company, propelled by e-commerce giant Coupang Inc.’s $4.6 billion initial public offering. Yet the Japanese company’s shares have languished in the absence of another share buyback program as SoftBank has maintained in years past, and Son has argued investors aren’t giving him credit for the value he’s creating. The founder believes SoftBank Group shares are roughly 50% undervalued at present.
Story continues
SoftBank’s stock is down almost 30% from its two-decade high in March. The steepest slide came in early May when SoftBank completed its unprecedented 2.5 trillion yen ($23 billion) share buyback without announcing a new re-purchase program.
“With management, we always discuss buybacks as an important agenda item,” Son said. He added that it may come today, in three months or three years, but the decision “does require balanced thinking about a variety of aspects. Our financial status, our investment opportunity, how many targets are out there, of course we also need to consider the return to shareholders.”
While last year’s profits are largely paper gains on investments, Son has plenty of cash to keep buying back stock. The Japanese conglomerate had 6.75 trillion yen in cash and equivalents as of March 31, of which about 2 trillion yen are in short-term investments.
Son also said the company may consider a share split to make the stock more accessible to a broader range of investors. The shares closed little changed at 7,688 yen in Tokyo on Wednesday.
Son has tried to keep the attention on his startup successes. SoftBank’s Vision Fund investment arm has gone from being the source of the biggest loss in SoftBank’s history a year ago to the main driver of earnings, with a 2.3 trillion yen profit in the March quarter.
Coupang, the South Korean e-commerce leader, contributed $24.5 billion to the Vision Fund profit in the fourth quarter. Auto1 Group SE, a German wholesale platform for used cars that went public in February, contributed $1.8 billion of the gains while Uber posted a $200 million loss. The Japanese conglomerate doesn’t have to sell equity holdings to book income, so most of its profits are unrealized.
SoftBank doubled its commitment to Vision Fund 2, where the company is a sole investor, to $40 billion since the end of March, according to a separate financial filing on Wednesday. Son has previously said he had given up seeking outside capital for the fund after earlier attempts in the wake of the WeWork disaster proved unsuccessful.
Son admitted that he needs to work harder to educate investors and win their confidence given SoftBank’s transformation in the past few years away from running technology businesses to an investment-holdings model. He said the best way to think of his sprawling conglomerate is as “a capital provider for the Information Revolution.”
“Investors make money. Capital providers make the future,” he said. “Venture capital seems too small for SoftBank. Vision capital is more like it.”
For a full transcript of SoftBank’s annual general meeting, click here.
(Updates with new capital commitment to Vision Fund 2 in 14th paragraph)
More stories like this are available on bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P. |
| 15.04.21 00:15:00 |
SoftBank Vision Fund Profit Nears $30 Billion on Coupang |
|
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
(Bloomberg) -- SoftBank Group Corp.’s Vision Fund profit may reach an unprecedented $30 billion in the March quarter, almost quadrupling the record it had just set, according to people familiar with the matter.
Profit in the unit was supercharged by the successful initial public offering of Coupang Inc., the South Korean e-commerce leader which debuted in New York last month. That will account for the lion’s share of what’s expected to be between $25 billion and $30 billion in reported gains for the three months ended March 31, the people said, asking not to be named because the details are not yet public. SoftBank is scheduled to report results on May 12.
The markets are delivering their strongest validation yet for Masayoshi Son’s oft-criticized strategy of pouring massive amounts of cash into mature startups. The Vision Fund’s portfolio of over 160 investments will record its third straight quarter of record profits helped by a global IPO rush that has seen companies worldwide raise more than $200 billion in 2021.
When Son takes the stage to report the latest results, he will probably have one more milestone to celebrate: group net income that’s the highest ever for a listed Japanese company in any quarter dating back to 1990, according to data compiled by Bloomberg. SoftBank already holds the top spot, setting the current high of 1.26 trillion yen ($11.5 billion) in June.
Coupang’s $4.6 billion offering was the second biggest this year and marks SoftBank’s best return since Alibaba Group Holding Ltd.’s listing in 2014. The coming months will also see some of Son’s largest and most controversial bets test the market, including ride-hailing giants Grab Holdings Inc. and Didi Chuxing as well as the troubled office-sharing company WeWork.
“The markets are very encouraged and supportive of what the Vision Fund has been able to do with its investments,” said Justin Tang, head of Asian research at United First Partners in Singapore. “Clearly there is still a lot of money out there that needs to find a home.”
Story continues
Coupang’s stock ended the quarter 41% higher than its mid-March IPO. The Vision Fund invested in November 2018 in a $2 billion deal that valued Coupang at $9 billion. That funding followed $1 billion from SoftBank itself in 2015, valuing the startup at about $5 billion. The Japanese conglomerate’s 33% stake was worth close to $28 billion as of March 31.
SoftBank will also book a valuation gain of about $2 billion on its stake in Uber Technologies Inc., which rose about 7% in the quarter, according to the people. The fund sold $2 billion worth of stock in the ride-hailing company in January, eking out a small profit. Another $1.2 billion gain will come from its stake in Auto1 Group SE, a German wholesale platform for used cars which went public in February.
The Vision Fund will also book a gain on its stake in ByteDance Ltd., the Chinese parent of hit video app TikTok. SoftBank owns about 3% of the company, a stake it acquired mostly at a $63 billion valuation in secondary markets in addition to a direct investment at a $75 billion valuation, the people said. The company has since hit $140 billion, according to market researcher CB Insights, and traded at $250 billion in private transactions, Bloomberg News reported.
Even WeWork, one of Son’s biggest missteps in recent years, will contribute to profit. After its failed IPO attempt and a bailout by SoftBank in 2019, the office-sharing company saw its worth tumble to $2.9 billion last year amid the pandemic, a far cry from its once-lofty $47 billion valuation. WeWork now plans to go public via a blank-check company in a deal that would value it at $9 billion.
Some Vision Fund investments will see their value marked down, though gains will more than offset those losses, the people said. The fund will take a writedown of about $500 million on Greensill Capital, the supply-chain finance company owned by billionaire Lex Greensill that filed for insolvency last month. The valuation of Oyo Hotels will be reduced by several hundred million dollars too.
“Coupang is a home run for the Vision Fund. And there is likely to be more good news around Didi, ByteDance, Grab and even WeWork,” said Atul Goyal, senior analyst at Jefferies. “But profits are meaningful when they recur. These gains are neither operating nor recurring.”
SoftBank doesn’t have to sell equity holdings to book income, so its profits are often just on paper. It reports income when the value of companies like Coupang rise, boosting the value of its stock. Its accounting practices comply with industry standards.
About half of the capital raised in the IPOs so far this year has gone to special purpose acquisition companies and SoftBank has joined the frenzy, listing several blank-check companies since the start of the year. The three SPACs created by the Vision Fund have a combined market capitalization of about $1.5 billion.
At the previous earnings briefing in February, Son said SoftBank may see between 10 and 20 public listings a year. Grab said this week it will go public through the largest-ever merger with a blank-check company, valuing the Southeast Asian ride-hailing and delivery giant at about $40 billion. Its Chinese counterpart Didi has filed with the U.S. Securities and Exchange Commission for an IPO that could value the company as highly as $70 billion to $100 billion.
“The wind will probably continue to be at Son’s back for some time,” said United First Partners’ Tang. “But matching last fiscal year’s performance would be quite a feat.”
For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P. |
| 29.03.21 08:17:55 |
Cazoo Agrees $7 Billion SPAC Deal With Dan Och in Blow to London |
|
|
**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
(Bloomberg) -- Cazoo Ltd. will list in New York after selling itself to hedge-fund founder Dan Och’s blank-check company in a deal valued at $7 billion, turning its back on a potential initial public offering in London.
The combination with special-purpose acquisition company Ajax I will raise about $1.6 billion in proceeds for the company, including $805 million in a cash trust from the SPAC and another $800 million from Ajax’s sponsors, Cazoo said in a statement on Monday. London-based Cazoo will be listed in New York after the deal closes, and Och said he plans to join the company’s board.
Cazoo previously weighed plans for an initial public offering in London, according to people familiar with the matter. The deal with Ajax I means Britain loses another unicorn to an overseas bidder despite efforts to reform London’s listing rules to make staying local more attractive for founders. More than $175 billion in takeovers of U.K. companies by foreign buyers have been announced in the past year, according to data compiled by Bloomberg. That’s up about 54% from the previous 12 months.
Chancellor of the Exchequer Rishi Sunak is weighing proposals that would give company founders greater control when they list their businesses in the City of London and would make it easier to create U.K. SPACs.
Another U.K. tech startup, Deliveroo Holdings Plc, plans to go public in London this week, though the food-delivery platform has endured a revolt from investors concerned about how it treats its riders. The company narrowed the price range for its IPO to the lower half of its initial projections, according to terms seen by Bloomberg.
Read More: Deliveroo Hit by Investor, Rider Revolt Ahead of London IPO
Online car sales have surged during Covid-19 lockdowns as traditional dealerships were forced to shut, and Cazoo said it expects sales to rise to nearly $1 billion this year, a 300% growth rate. Shares of Phoenix-based Carvana Co., which went public with a similar business model in 2017, have jumped more than 400% in the last 12 months, and it’s made its founders billionaires.
Story continues
Cazoo, which buys and restores used cars and delivers them directly to buyers, was valued at more than $2 billion after raising funds in October.
The company expects revenues to double annually through 2024, when they’ll reach $8 billion thanks to expansion into Europe, greater inventory of cars and the introduction of new services, Chief Executive Officer Alex Chesterman said in an investor call on Monday. Still, it expects to continue losing money until 2024 when its operating profit and earnings before interest, taxes, depreciation and amortization will turn positive, according to projections in Cazoo’s analyst presentation.
The Daily Mail & General Trust Plc, which owns about a fifth Cazoo, surged as much as 16% in London trading after the announcement. The company said it expects to receive about $1.35 billion in cash and shares when the deal closes, after it invested 117 million pounds ($161 million).
Cazoo had been weighing an initial public offering after the successful listing of its German counterpart, Auto1 Group SE, which raised 1.8 billion euros ($2.1 billion) earlier this year, people familiar with the matter had said.
Cazoo was founded in 2018 by Chesterman, a serial entrepreneur who previously founded property search website Zoopla and early streaming video and mail-order DVD rental service LoveFilm. Investors include BlackRock Inc., General Catalyst, D1 Capital Partners, Mubadala Capital, L Catterton and others.
(Updates with DMGT reaction, Deliveroo listing plans.)
For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P. |
