Despite the adverse impact of the third wave of the coronavirus pandemic, both the distribution and retail and services business units of the listed automotive company AutiWallis demonstrated significant growth in the first quarter of 2021.
The company's management report says the growth surpassing the targets set in the strategy published in 2019 can be attributed to both the transactions completed last year and organic growth.
With dynamically growing operating efficiency, AutoWallis Plc. increased its revenue nearly two
and a half times to HUF 48.7 billion in the first quarter of 2021 compared to the first quarter of last
year. This growth rate is particularly striking in light of the fact that while the EU passenger vehicle
market saw only a 3.2% increase in sales during this period, and the Hungarian market experienced a 1.5% decrease, the AutoWallis Group recorded a 228% increase in the number of units sold in Hungary. This outstanding performance is driven by organic growth and the impact of last year's transactions. The numbers show that the listed automotive company has overcome most of the negative effects of the coronavirus epidemic.
Both divisions of the company listed in the Premium category of the Budapest Stock Exchange performed exceptionally well. The revenue of the AutoWallis Group’s Distribution Business Unit
increased by 165 percent to HUF 28.1 billion, mainly due to the launch of Opel sales in four countries at the beginning of this year.
The Retail & Services Business Unit’s revenue grew by 115% to HUF 20.6 billion, thanks to organic growth, as well as the acquisitions and transactions completed last year. In addition to the positive vehicle sales figures, there was also an increase in vehicle rentals this year, with the number of rental days increasing by 43% to 30,320. There was also an increase in service activity, which had previously been temporarily reduced due to the restrictions and lockdowns related to the epidemic: in addition to last year’s acquisitions, organic growth led to an increase in the total number of service hours by 153% to 29,447.
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