Increasing Annual Revenue at AutoWallis Group in 2024

Vehicle trading company and mobility service provider AutoWallis Group's revenue exceeded HUF 398.4 billion las year, which is HUF 32.2 billion (or 8.8%) higher than the revenue for the previous year, the Group announced on the website of the Budapest Stock Exchange.

The report says organic growth in the Group's revenue was 7%, which is more or less the same as the growth in vehicle sales volume excluding the effects of acquisitions (6.5%). The transactions completed during the current year only contributed to growth in a prorated manner, which means that they haven't had a significant impact on the Group's revenue yet.

Material expenses were up by 27.9% from the comparative period, the main reasons being inflationary effects (the rise in public utility costs and the price of materials used in the course of servicing activities), rising fuel prices and the effect of acquisitions (materials used for servicing activities by NC auto s.r.o in 2024).

The value of services was up by 28% or HUF 4.9 billion from the comparative period. The main drivers behind this uptick in expenses included the increase in logistics expenses caused by the rise in sales volumes, the rise in marketing and communication costs due to market reasons (by HUF 1.2 billion), as well as the significant increase in insurance fees and bank charges. The acquisitions completed in the current year also contributed to this surge in expenses (NC Auto s.r.o: HUF +750 million).

The value of financial gains or losses was a loss of HUF 5.7 billion in 2024, which represents a decline in comparison with 2023. Despite the improvement in the interest rate environment in 2024 and the resulting decline in interest expenses, the ongoing and significant weakening of the forint throughout the current year had a negative impact on the balance of financial gains or losses.

The EBITDA, the indicator which best describes the Group's performance, exceeded HUF 20 billion in 2024. Despite the negative effects described above, the Group's EBITDA margin
remained above 5% (2024: 5.1%; 2023: 5.4%).

The Group's profit before tax for 2023 was HUF 9.1 billion, which is 23.7% lower than in the previous year. The contribution of the Group's joint ventures to the profit for the year was HUF 438 million (2023: HUF 1,070 million).