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.
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