AutoWallis - Stepping on the gas
AutoWallis posted very strong EBITDA of HUF 7.8 bln (+254% YoY), exceeding our
estimate by 13%, and was much higher than management of HUF 5.5-6.2 bln.
Sales more than doubled in 2021 to HUF 195 bln, driven by growth in both domestic
and regional markets in addition to a number of acquisitions implemented, inter alia,
in 2020 (ie. the Jaguar-Land Rover dealership opened in April last year, Wallis
Kerepesi, Wallis Motor Ljubljana and the acquisition of Hungarian Initial Group and
import rights of Opel cars in the CEE region, in Croatia, Slovenia, Bosnia and
Herzegovina and Hungary). As a result of these transactions, in addition to the
premium brands, AutoWallis could extend its sales mix to mid-range car brands,
allowing it to target a much wider range of customers, especially in the field of fleet
sales
AutoWallis Nyrt Formerly known as Altera Vagyonkezelo Nyrt. AutoWallis Nyrt, formerly known as Altera Vagyonkezelo Nyrt, is a Hungary-based investment company, with a focus on the automotive sector. The Company is engaged in retail and wholesale trade, service, short and long-term car rental. The Company is active in Central and Southeast Europe.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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