AUTO1 Group SE: Positive operating cashflow in H1; AlsterResearch reiterates to BUY

AUTO1 Group (AUTO1) published its report for the first half of 2023, largely confirming the financial figures from its trading statement, published in early August. A positive surprise was the company's financial situation, with the cash position improving by a total EUR 11m to EUR 553.9m at the end of June 2023. The company recorded a positive operating cashflow in H1 of EUR 130.9m, supported by a significant swing in working capital. Reduced capex helped to increase the cash position despite higher outflow for debt redemption. In the view of AlsterResearch's analysts, this is reassuring as the company is working towards the break-even point. With unchanged estimates, AlsterResearch's analysts confirm their PT and rating. The full update can be downloaded under https://www.research-hub.de/companies/AUTO1%20GROUP%20SE