AutoWallis sales up 33% y.o.y. in 2020
Listed automotive company AutoWallis’s vehicle sales grew by 39% in 2020 compared to the previous year, with the company’s service activities expanding by 33%, according to a press release sent to the Budapest Business Journal.
The company increased the number of vehicles sold by 39.4% to 8,376 units. Despite the market downturn caused by COVID-19 organic expansion was 7 percentage points in all vehicle sales, while a further 33 percentage points was due to six transactions realized in 2020.
Autowallis says that the realized transactions will significantly increase the group’s revenue already in 2021, while at the same time they transform the business composition of AutoWallis. Gábor Ormosy, the CEO of the company, said that the impact of the transactions would be fully reflected only in the 2021 figures.
The CEO added that last year’s margin retention was also affected by fluctuations in supply and demand due to the COVID-19 situation and the unfavorable change and volatility of the HUF exchange rate, which was only partially offset by the exceptionally favorable trend in sales units.
In 2020, the number of service hours in the AutoWallis' retail & services business unit increased by 32.6% to 65,823, taking the impact of transactions into account. Vehicle rental has been negatively affected by the significant drop in tourism and business travel, so the number of rental events decreased by 60.9% to 9,616 units, followed only partially by the fleet size (-28.2%), which was impacted by long-term rental contracts, the press release notes.
MET Group Records 2nd Most Profitable Year in 2023
Gov't Considering Fuel Price Intervention
Wienerberger Lays Cornerstone of HUF 12 bln Concrete Tile Pl...
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
