auto1 europes leading online car platform operating in more than 30 countries forecast an adjusted core margin of minus 225 this yearberlin auto1 the online usedcar platform that floated in frankfurt last month said on wednesday it would focus on growing its autohero retail brand after reporting a sequential increase in sales in the fourth quarter the berlinbased company reported fourthquarter revenue of 779 million euros 921 million a 13 rise from the preceding three months as it climbed out of a trough in sales caused by the coronavirus pandemic for the year as a whole group revenue declined 19 to 283 billion euros but chief executive christian bertermann told reuters that auto1 still managed to cap adjusted core losses at 15 million euros thanks to rigorous cost control and the resilience of its digital business model advt auto1 shares are trading about 30 above the level at which they floated last month valuing the business at around 10 billion euros and tempting another online car dealer meinauto to consider a stock market listing the company forecast revenue of 38 billion to 42 billion euros this year with unit sales via its mainstay merchant platform seen at 560000600000 units it raised guidance for its smaller but fastergrowing autohero division to between 32000 and 38000 units for the full year up from an earlier view of more than 29000 units firstquarter sales are seen at 7200 to 7900 units up from 2363 a year earlier margins at autohero were lower than in the merchant business said chief financial officer markus boser and would likely remain so in 2021 and 2022 as the company prioritised growth in its directtoconsumer business over the longer term the retail business had greater margin potential the executives said auto1 europes leading online car platform operating in more than 30 countries forecast an adjusted core margin of minus 225 this year 1 08462 euros reuters published on mar 24 2021 at 0346 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app auto1 auto1 growth autohero covid sales online used car homenewsauto1 eyes growth after containing hit from covid sales slowdown