AutoWallis Group’s sales revenue increased in the first half of the year, retail sales continued to boom

By: Trademagazin Date: 2024. 08. 20. 09:35

In addition to record second quarter revenue, AutoWallis made up for the backlog caused by external causes in the first quarter, so the company’s sales revenue in the first six months of this year was HUF 195.2 billion, while its EBITDA was HUF 9 billion. The sales revenue of the Group’s Wholesale Business decreased primarily due to base effects and the difficulties of sea deliveries, while the Retail Business performed above the market average. In 2024, AutoWallis is still counting on sales figures significantly exceeding last year’s in the current macroeconomic environment.

The AutoWallis Group achieved record revenue (HUF 106 billion) in the second quarter, thus increasing its first half-year sales (+1%) to HUF 195.2 billion despite the difficulties of the external environment. The sales revenue of the Wholesale Business was HUF 108.7 billion, which is 9 percent lower compared to the same period of the previous year. At the same time, the improving trend is shown by the fact that the second quarter was stronger: the 25 percent lag in the sales revenue of the first three months decreased. The reason for the temporary decrease is predominantly of a technical nature, which is explained by the base effect of exceptionally high sales in the past (the last quarter of 2022 and the first and second quarter of 2023) and the increased shipping deadlines due to the situation in the Suez Canal and the Red Sea in the first half of this year. . Today, these one-off effects have leveled off, but shipping issues continued to cause slippages between quarters, even though the order backlog was better than planned. The AutoWallis Mobility Services Business Unit* increased its sales by 35 percent to HUF 3.4 billion in the first six months of the year (of which HUF 900 million is a transaction effect), while the EBITDA generating capacity of the new business unit, compared to the others – due to its activity – is particularly high, 1, It was HUF 3 billion in the first half of the year with an EBITDA margin of 30.1 percent. The Retail Business of AutoWallis performed above the market average in the first half of the year: the growth rate of new vehicle sales was 17.9 percent, while in the relevant markets of the Group and in Hungary the expansion was lower, at 12 percent.** This and the 26 percent expansion thanks to used car sales, the sales of the Retail business grew by 15 percent to HUF 83.1 billion, while the sales of the Mobility business, which was reported separately from this quarter, for the first half of 2023 were included in the base period data.