Thanks to the six transactions concluded last year, the sales figures of AutoWallis are soaring: based on first quarter data, the corporation has more than tripled the results of the previous year’s first quarter. The numbers show that the stock exchange automotive company has overcome most of the negative effects of the COVID-19 epidemic. In the first three months of the year, even the number of rental days has started to increase, surpassing the base period by more than 40%, and the service hour figures also indicate strengthening.
The first quarter sales figures of AutoWallis reveal a significant positive development, despite the restrictions introduced due to the third wave of the COVID-19 epidemic. In the corporation’s Distribution Business Unit, the number of new vehicles sold has nearly quadrupled (+382.5%) to 4,555 pieces. The exceptional growth was triggered by an organic growth of 32.5% (1,251 pcs), as well as the Opel sales started in four countries in the beginning of this year: partly due to the wholesale distribution of this brand, the transactions increased the sales figure by a total of 250% (3,304 pcs). The Retail & Services Business Unit of the Premium category company of the Budapest Stock Exchange also performed well, which is especially remarkable in light of that sales were reduced by 1%, to 35,927 pieces, in the Hungarian personal vehicle and van market. Disregarding the effect of last year’s transactions, the number of new vehicle sales at AutoWallis increased by 42%, while including the impact of last year’s transactions (Iniciál Autóház, Wallis Kerepesi, domestic sales of Jaguar and Land Rover, as well as the BMW dealership in Ljubljana), there was a total growth of 238%, to 1678 pieces. Used vehicle sales have also performed well: together with the transactions, the number of used vehicles sold increased by 132% to 434 pieces (8% decrease without the transactions). The number of service hours has increased by 40%, while taking the above-mentioned four transactions into consideration, it has demonstrated a 2.5-fold increase (+152.7%) to 29,447. Although the COVID-19-related restrictions still limit the growth potential of the vehicle rental sector, the positive turn is already in sight: the number of rental days has increased by 43% with an improved size efficiency, as the growth was accompanied by a decrease in the fleet size (-22%) and the number of rental events (-48%). All this clearly shows that AutoWallis has responded well to the new business environment changed by the COVID-19 restrictions, and has managed to carry out a cost-effective transformation.
Gábor Ormosy, CEO of AutoWallis Plc., said that the first quarter sales figures were an important milestone in the history of the company. He emphasized that the now published numbers were in line with the earlier announced plan of achieving a threefold increase of the company’s revenues by 2021 to above HUF 230 billion compared to last year with the help of organic growth and the six transactions concluded in 2020. He added that with the reopening of the economy and the recovering of tourism, he was expecting further growth in after-sales activities within the Retail & Services Business Unit, and the number of new vehicle orders were also promising, despite the uncertainty about the pace of the epidemic coming to an end.
* Market data by DataHouse.