AutoWallis has closed another banner year, with its revenue increasing by 17% to HUF 88 billion in 2020. However, the company expects even such a major expansion to be only a minor step ahead of the 2021 leap.
Namely, the revenue of the stock exchange automotive company may present a nearly threefold increase when compared to 2020, to as much as HUF 230 billion, owing to organic growth and the six transactions concluded last year.
Similarly to the majority of the corporate sector, AutoWallis’s results were not untouched by the outbreak of the COVID-19 epidemic: the negative impacts of the pandemic could be felt primarily in relation to the car rental activities, while one-time expenses burdened the launching of the new retail and wholesale activities related to the business developments. As a result, AutoWallis's EBITDA was HUF 2.1 billion, which represents a 28% decline compared to the previous year.
AutoWallis Nyrt. had closed the most active year of its history in terms of acquisitions and transactions, significantly contributing to the realization of the Budapest Stock Exchange Premium category corporation’s growth strategy announced in 2019, said Zsolt Müllner, President of the company, in the context of evaluating the year 2020. He added that the positive impact of the six
acquisitions and business developments carried out last year may be fully felt in 2021, when the revenue of the group present in 14 countries is expected to show a threefold increase as compared
to 2020, possibly up to as much as HUF 230 billion. In order to provide financing for the growth strategy, the Executive Board does not recommend paying dividends from the HUF 1.2 billion
dividend fund generated in 2020, and composed of the HUF 910 million total comprehensive annual earnings and retained profit (according to the separate (stand-alone) financial statement of the IFRS serving as the basis for dividend-related decisions), and of the dividends received from the subsidiaries.
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