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AutoWallis May Increase Planned Sales Due to Strong Performance

Automotive

After the financial results of the past four record years, the company may increase its planned sales and business figures in 2024, the AutoWallis Group said on Investor Day.

A number of AutoWallis’s financial indicators previously set for 2025 were surpassed already last year.

At the company’s annual Investor Day, AutoWallis Plc. CEO Gábor Ormosy explained that the growth strategy announced when the company was listed in 2019 and then amended with higher figures in 2021 is so crisis-proof that a number of points have since been exceeded on a pro-rata basis. Based on the results achieved, the CEO announced that the sales and business figures that had been previously set may again be revised upwards in the first half of 2024.

The CEO pointed out that the group’s growth in the past four years was mainly transactional, while its organic growth surpassed industry trends, showing that the company is on a stable path of growth. He pointed out that in 2022, AutoWallis increased its revenue by 40% to HUF 270 billion, with its EBITDA almost doubling the previous year’s figure to reach HUF 14.5 bln, leading to earnings per share of more than HUF 19.

The company’s revenue increased by 48% and its EBITDA by 50% year-on-year in H1 2023, as a result of which the earnings per share rose to HUF 17 by the first six months of the year, i.e. almost equaling last year’s total in half the time. 

Ormosy said that the group carried out a number of acquisitions in the previous year that strengthened its services and mobility portfolios.

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