Record quarterly revenues, normalizing margins
AutoWallis posted H1/24 results this morning, mainly in line with ourestimates. Revenues reached HUF 195 bn (+0.8% vs. H1/23) while no. of
vehicles sold decreased by -0.8% YoY to 25,438 vehicles. Revenues
came in flat due to the best-ever quarterly revenues of the company at
HUF 106 bn in Q2 following a somewhat weaker Q1. EBITDA came in at
HUF 9 bn, with a margin of 4.6%, and EBIT amounted to HUF 6.5 bn. The
profit attributable to shareholders reached HUF 3.3 bn, with realized and
unrealized FX losses and normalizing margins weighing on profitability.
Net profit for H1 came in at HUF 3.3 bn, resulting in an EPS of HUF 6.16.
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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