AutoWallis - On track to get promoted to the premier league

As weak as it gets in 2020
 The total comprehensive income was a loss of HUF 0.66 bn in 2020, compared to HUF 0.95 bn profit in 2019. The primary reason why earnings went in to the red was the COVID-19 pandemic-triggered lockdowns and travel restrictions, which exerted a drag on incomes from normally high-margin service activities (e.g. car renting), while the weaker HUF against the EUR, which combined with the planned costs relating to the acquisitions of the new dealerships and the effect of a shift in the product mix of the international business line, i.e.an increase in the number of models with lower profit margins, also weighed on earnings.
 Sales of HUF 88.4 bn were up 19% YoY despite the coronavirus pandemic, which hit the automotive services business segment, in particular. The decline in car rental sales was offset by an increase in international automotive and parts sales as well as domestic retail turnover of newly acquired subsidiaries. The AutoWallis Group increased vehicle sales by 39.4% in 2020, within which the Wholesale Division's new vehicle sales increased by 34.3%, and its retail business grew by 42.6%.