AutoWallis Revenue Climbs, Earnings Slip in Q1-Q3

Net income of listed car seller AutoWallis dropped 24% year-on-year to HUF 3.6 billion in Q1-Q3, an earnings report published on Monday shows.

Revenue rose 21% to HUF 353.2 billion. Revenue of the wholesale division edged up 4% to HUF 168.5 billion, while revenue of the retail business climbed 43% to HUF 177.0 billion.

Operating profit dropped 30% to HUF 6.9 billion. EBITDA declined 10% to HUF 12.6 billion.

AutoWallis said the decline was temporary, pointing to higher third-quarter EBITDA, and did not put the implementation of the company's strategy at risk. It added that cost of goods sold rose at the same pace as revenue.

Payroll costs climbed 33% to HUF 18.9 billion as headcount increased due to acquisitions.

AutoWallis's wholesale division represents the brands Alpine, BYD, Dacia, Farizon, Isuzu, Jaguar, KGM, Land Rover, MG, NIO, Nissan, Opel, Renault, Saab parts, and XPENG. The company's retail division includes the brands BMW, BYD, Dacia, Ford, Isuzu, Jaguar, KGM, KIA, Land Rover, Lexus, Maserati, Mercedes-Benz, Mercedes-Benz Trucks, MINI, Nissan, Opel, Peugeot, Renault, Suzuki and Toyota.