Higher sales, lower financial loss lift AutoWallis earnings

Telco

First-half after-tax profit of listed auto trader AutoWallis more than doubled to HUF 482 million, from HUF 176 mln in the base period, lifted by higher revenues and a narrower financial loss, an earnings report released early Wednesday shows.

AutoWallis Chairman Zsolt Müllner, CEO Gábor Ormosy, investment head Gábor Székely

Revenue rose 21% to HUF 38.4 billion, according to a report by state news wire MTI. Domestic sales jumped 31% to HUF 18.2 bln, while foreign sales climbed 11% to HUF 16.6 bln. AutoWallisʼs service and rental business generated turnover of HUF 3.7 bln, up 24%.

Operating profit climbed 34% to HUF 847 mln.

AutoWallis booked a HUF 266 mln financial loss in H1, well under the HUF 363 mln loss in the base period.

AutoWallis CEO Gábor Ormosy said the company has so far identified 20 potential acquisition targets.

The brands AutoWallis represents include BMW, Mini, Isuzu, Maserati, SsangYong, Jaguar, Land Rover, and Sixt rent-a-car. The company is listed in the Equities Prime section of the Budapest Stock Exchange (BÉT).

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