Auto1 Group SE shares fell over 7% after its 2026 margin guidance disappointed investors, despite strong full-year results. The Berlin-based digital used-car platform reported record 2025 adjusted EBITDA of €197.5 million, up 80.8% year-on-year, beating its own €180-195 million range. Units sold rose 22.1% to 842,271, exceeding the guided 811,000-840,000 range.

However, the company guided for 2026 gross profit of €1.1-€1.2 billion on 940,000-1,000,000 units, implying a per-unit gross profit below the €1,202 delivered in Q4 2025. This discrepancy drew scrutiny from analysts like RBC Capital's Wassachon Udomsilpa, who flagged the tension, noting the implied economics were below current levels. Chief Executive Christian Bertermann emphasized the company's 3.1% European used-car market share gain, while CFO Christian Wallentin highlighted financing as a growth lever, pointing to the need for clarity on management's profit guidance intentions.