AutoWallis' revenue Close to HUF 400 billion in 2024

The AutoWallis Group increased its sales to HUF 398.46 billion last year, which is 9% higher than the previous year, while EBITDA (earnings before interest, tax, depreciation and amortization) rose by 2% to HUF 20.175 billion, the company told MTI on Friday.

Net profit fell to HUF 6.976 billion from HUF 9.842 billion in the previous year, dragged down by a HUF 5.711 billion loss (+30%) on the financial line due to the weakening exchange rate. Earnings per share (EPS) fell by 40%.

According to the release, last year's revenue growth was driven by strong retail growth. The segment's revenue rose by 20% to HUF 171.113 billion, the wholesale division's revenue increased by 1% to HUF 218.992 billion, while the mobility services division closed with HUF 8.4 billion in revenue, up 36% year-on-year.

More than 60 percent of last year's turnover came from foreign markets, which could rise by a further 10 percentage points this year as a result of previous acquisitions.

Gábor Ormosy, CEO of AutoWallis Group, assessed that sales, EBITDA and earnings per share exceeded analyst expectations.

Increased inventories and tightening carbon dioxide quotas had a negative impact on industry margins, and the weakening of the Hungarian forint at the end of the year temporarily affected the group, he added.

On the outlook, he noted that improving financing opportunities could further stimulate demand in the automotive market in AutoWallis' operating region, which has higher growth prospects compared to Western European markets.

AutoWallis will continue to execute its growth strategy in 2025, as it explores further acquisition and business development opportunities, as well as exploiting synergy opportunities from past transactions to drive growth and further improve efficiency, he highlighted.

According to the group's earlier announcement, by 2028, its revenue could reach HUF 750 billion and EBITDA earnings could rise to HUF 40 billion, doubling its 2023 results.

AutoWallis is active in 16 countries in the Eastern and Central European region (Albania, Austria, Bosnia and Herzegovina, Czech Republic, Bulgaria, Croatia, Greece, Hungary, Kosovo, Montenegro, Poland, Romania, Serbia, Slovakia, Slovenia, Northern Macedonia, Poland and Montenegro) in the wholesale and retail distribution of motor vehicles and spare parts, servicing, short and long-term car rental.