AutoWallis Group Issues EUR 20 Million in Bonds

In a private placement, the AutoWallis Group has issued EUR 20 million in bonds with favorable terms, contributing to the company continuing to bolster its position as a major regional car sales and mobility service provider. The funding aims to provide financing for the continued international expansion and the acquisitions of AutoWallis, currently present in 16 countries, the Group announced on the website of the Budapest Stock Exchange this Thursday.

The AutoWallis Group issued EUR 20 million in bonds in a private placement, further strengthening its financial position for international expansion and acquisitions. The bonds issued by AutoWallis have a maturity of 10 years with a principal repayment grace period of 5 years. The funding is in line with AutoWallis’s updated strategy presented this spring, according to which, the company listed in the Prime Market of the Budapest Stock Exchange plans 2-3 acquisitions and intensive growth in the coming years as well. By way of its car sales and mobility services, AutoWallis is currently present in 16 European countries.

The company announced the largest acquisition in its history in November, carried out in the Czech Republic. AutoWallis signed an agreement to purchase 100% of the Czech-market based MILAN KRÁL GROUP. After the transaction is closed, expected by the end of this year, it will contribute to allowing the company to continue to strengthen its position on the Czech BMW retail market.

With the acquisition, AutoWallis is also adding new brands (Mercedes-Benz and Ford) and new activities (sales and servicing of Mercedes-Benz Trucks) to its portfolio. The successful bond issue and the profits from AutoWallis’s operations together support AutoWallis’s plans for growth, based on which the company intends to invest HUF 80 billion by 2028. All this contributes to AutoWallis realizing revenue of HUF 750 billion and EBITDA profits of HUF 40 billion by 2028, meaning both indicators may be twice that of 2023’s results.