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AutoWallis targets annual revenue of up to HUF 433 bln

Automotive

Listed Hungarian car seller AutoWallis said it targets annual revenue of HUF 400 billion-433 bln in 2025 in an updated strategy posted on the website of the Budapest Stock Exchange. 

The firm said it expects to achieve that growth over the HUF 191 bln-212 bln turnover targeted for 2021 through "transactions already completed, organic growth, and planned new transactions." 

It expects its retail business to generate HUF 150 bln-160 bln of group revenue in 2025, while turnover of the wholesale business reaches HUF 250 bln-273 bln. It sees EBITDA rising over HUF 14 bln by 2025. 

AutoWallis said it plans to tap the equities market before yearend, drawing in HUF 6 bln-8 bln from both retail and institutional investors to finance new acquisitions and developments. The auto seller added that it might need further resources of HUF 16 bln-38 bln for transactions in the pipeline. 

It aims to raise the number of retail investors who hold its shares by "at least 20%". It wants to boost its free float (a little over 30% at present) to more than 35%. 

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