Q2/23 results are strong as expected

AutoWallis posted revenue of more than HUF 93.8bn for Q2/23 (+28% YoY).
The main reason for the outstanding growth is inflation in the Central and
Eastern European region, in addition to organic volume growth due to
wholesale of Opel and SsangYong vehicles, as well as the acquisitions of Net
Mobilitás and Nelson Flottalízing. The acquisition of Renault Hungária, which
AutoWallis implemented jointly with the Portuguese company Salvador
Caetano in the last quarter of 2022, also contributed significantly to the
outstanding sales performance. It is worth noting that nearly 57% AutoWallis'
revenues have already come from export markets.
 EBITDA rose by 25% YoY to HUF 4.73bn, resulting in an EBITDA margin of
5% down from 5.6% in Q1/23 and 5.15% in Q2/22.
 Net profit attributable to shareholders of the parent company came in at HUF
2.49bn (+23% YoY) in Q2/23. As a result, EPS was HUF 5.32 compared with
HUF 4.76 in the same period of last year, in line with our estimate.