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    AUTOWALLIS   HU0000164504

AUTOWALLIS NYILVÁNOSAN MUKÖDO RÉSZVÉNYTÁRSASÁG

(AUTOWALLIS)
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AutoWallis Nyilvánosan Muködo Reszvenytársaság : Flash report on the Q3 2021 performance of the AutoWallis Group

12/01/2021 | 10:11am EST

PRESS RELEASE

AutoWallis's momentum continues: The listed automotive company reports very strong

nine months

Budapest, November 30, 2021 - AutoWallis has reported strong results for the past nine months: the EBITDA of the corporation exceeded HUF 5.7 billion, meaning that the listed automotive company is likely to surpass its yearly plan of HUF 5.5-6.2 billion. The Group generated a revenue of HUF 145.4 billion in the first nine months of the year, with its margin production having grown by nearly 10 percent, and its EBITDA margin having increased from 3 to 3.9 percent.

Having closed a strong quarter, the AutoWallis Group is progressing towards achieving the goals outlined in its strategy: the listed automotive company generated a revenue of HUF 145.4 billion in the first three quarters of the year, more than doubling its previous performance by realizing a 132 percent increase compared to the same period a year earlier. Both business units of the Group contributed to the growth, despite the economic environment having been adversely impacted by the repeated introduction of restrictions in response to the succeeding waves of the coronavirus pandemic, the slowing down of automotive production and supply due to the shortage of chips, as well as the sluggish recovery of the tourism sector. AutoWallis's growth was significantly higher than that of the EU or the regional automotive market: the passenger vehicle market expanded by 6.6 percent in the EU and by 10.8 percent in Central Eastern Europe, which is the market relevant for the AutoWallis Group. In contrast, the corporation increased its new vehicle sales almost fourfold (by 271 percent) to 17,587 units, with transactions and acquisitions completed in 2020 accounting for 231 percentage points and organic growth making up 40 percentage points of the increase. The latter figure is in itself several times the average market growth in the region. Gábor

Ormosy, the CEO of AutoWallis, highlighted in this respect that the volume of vehicle orders gives reason for optimism concerning vehicle sales; however, the temporary or longer-termdisruptions in chip supplies affecting certain brands may negatively influence the anticipated sales numbers, i.e., the number of cars actually delivered in the coming period. The CEO pointed out that the earnings and the efficiency of the company rose even faster than its revenue: the EBITDA, which AutoWallis's management considers to be the best indicator of profitability, surged more than three-fold(+201%) to HUF 5.7 billion. The positive trend is underscored by the Group having increased its margin production by ten percent, from 12.3 to 13.4 percent. This is primarily due to the fact that AutoWallis managed to implement a successful and efficient pricing policy, taking into account market demands and price sensitivity, both in its procurements and in its sales. As a result of these effects, the Group's total comprehensive income was a profit of HUF 2.2 billion, compared to the loss reported last year, while the earnings per share (EPS) stood at HUF 6.43. In its latest profit forecast for the year, the corporation predicted a revenue between HUF 191-212billion and an EBITDA between HUF 5.5-6.2billion. Due to the fourth wave of the Covid-19pandemic and the shortage of chips, delays in production times will lead to deferred vehicle deliveries despite the high volume of orders, as a result of which the annual revenue will remain below HUF 190 billion; nonetheless, the corporation expects a continuing increase in its margin production capacity and profitability, which will enable it to achieve an EBITDA of about HUF 6 billion.

The AutoWallis Group's Distribution Business Unit increased its revenue almost three-fold, reaching HUF 86.2 billion (+192%). The growth was primarily driven by the increased volume of new vehicle sales, particularly in the case of the Opel and SsangYong brands. The Retail & Services

Business Unit increased its revenue by 79 percent to HUF 59.2 billion in the first nine months of the year. At the beginning of the year, restrictions related to Covid-19 still limited car rental possibilities; however, with the lifting or relaxing of restrictions and the increase of tourism, the number of rental days started rising. The field experienced substantial growth in the first nine months of the year, with the number of rental days increasing by 101 percent, and the number of rental events increasing by 51 percent. The margin production capacity of the Retail & Services Business Unit also showed further improvement, reaching 17.6 percent in 2021, compared to last year's 15.5 percent, largely due to the efficient pricing policy applied in the Distribution Business Unit as well.

The AutoWallis Group continued to operate with growing efficiency in the first three quarters of the year: the rate of increase in the cost of goods sold (CoGS) was 3 percent lower than that of revenue growth, leading to the corporation's margin production going up from 12.2 percent to 13.4 percent. The 181 percent rise in personnel expenses was primarily a result of the transactions carried out last year, which led to a rise of the average wage and an increase of the AutoWallis Group's average statistical headcount by 150 to 706. Financial gains or losses decreased by 62 percent to HUF 355 million.

AutoWallis results in Q1-Q3 2021 *

(Value in HUF thousand)

Revenue

Distribution Business Unit

Retail & Services Business Unit Material expense

Services

Cost of goods sold

Personnel expenses

Depreciation

Profit or loss from trading

Other income and expenses

OPERATING PROFIT OR LOSS - EBIT

Financial gains or losses

PROFIT BEFORE TAX

Tax expense

NET PROFIT OR LOSS

Retranslation of subsidiaries

Total comprehensive income

EPS (HUF/ share)

EBITDA**

Q1-Q3 2021

Q1-Q3 2020

Changes

(Restated) ***

145 404 235

62 630 613

+132%

86 170 407

29 534 442

+192%

59 233 828

33 096 171

+79%

-2 724 443

-1 865 107

+46%

-6 681 871

-2 447 233

+173%

-125 850 065

-55 006 283

+129%

-4 865 131

-1 730 610

+181%

-2 308 781

-1 046 498

+121%

2 973 945

534 882

+456%

333 299

189 808

+76%

3 307 244

724 691

+356%

-355 360

-938 034

-62%

2 951 883

-213 343

N.A.

-739 360

-145 035

+410%

2 212 523

-358 378

N.A.

-13 388

13 578

N.A.

2 199 135

-344 800

N.A.

6,43

-1,30

N.A.

5 735 365

1 904 824

+201%

  • IFRS consolidated audited results
  • Earnings before interest, tax, depreciation and amortization
  • See the restatements and representations published in relation to and after the Corporation's 2021 semi-annual report.

AutoWallis Group

AutoWallis Plc., a company listed in the Premium category of the Budapest Stock Exchange, as well as in the BUX and BUMIX indices, aims to become a major vehicle trading company and mobility service provider in the Central and Eastern European region by the end of the decade, broadening its automotive investment portfolio through business developments and acquisitions. The AutoWallis Group is present in 14 countries of the Central and Eastern European region (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia, Slovenia), where it is engaged in the retail and wholesale of vehicles, parts, and accessories, in repair and maintenance services, as well as in short- and long-term vehicle rentals. The brands represented by the Group include BMW cars and motorbikes, Dacia, Isuzu, Jaguar, Land Rover, Maserati, MINI, Nissan, Opel, Peugeot, Renault, SsangYong, Suzuki, and Toyota, as

well as Saab spare vehicle parts, and Sixt rent-a-car. AutoWallis received "The Share Capital Increase of the Year" award at the Best of BSE Award 2020 Gala. www.autowallis.hu www.facebook.com/AutoWallis

Further information:

Dániel R. Kovács, Financial Communications

Mobile: +36-20-771-8710

E-mail: r.kovacs@fincomm.hu

The information contained herein includes forward-looking statements and future-oriented declarations relating to the Corporation's views and expectations, with such statements and declarations being provided by the Corporation in good faith and on reasonable grounds. These statements are based on current plans, expectations and forecasts, and could be influenced by known and unknown risks, uncertainties and other factors, which may result in material differences in the specific results, financial situation, performance and realized objectives of the Corporation or the industry as a whole compared to the results, financial situation, performance and outlined objectives described in the forward-looking statements either explicitly or by implication. The Corporation expressly disclaims any obligation to update, modify and publish any of the statements on the basis of new information or future events. In light of these risks, uncertainties and other factors, investors are cautioned not to solely rely on these forward-looking statements when making investment decisions.

Disclaimer

AutoWallis plc published this content on 01 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2021 15:10:09 UTC.


© Publicnow 2021
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Financials
Sales 2021 211 B 674 M 674 M
Net income 2021 - - -
Net Debt 2021 24 791 M 79,2 M 79,2 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 52 935 M 169 M 169 M
EV / Sales 2021 0,37x
EV / Sales 2022 0,30x
Nbr of Employees 706
Free-Float 30,7%
Chart AUTOWALLIS NYILVÁNOSAN MUKÖDO RÉSZVÉNYTÁRSASÁG
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AutoWallis Nyilvánosan Muködo Részvénytársaság Technical Analysis Chart | AUTOWALLIS | HU0000164504 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 124,50 HUF
Average target price 200,50 HUF
Spread / Average Target 61,0%
Managers and Directors
Zsolt Müllner Chairman-Management Board
Gábor Ormosy Chief Executive Officer
Attila László Chikán Chairman-Supervisory Board
Gábor Székely Chief Investment Officer
György Ecseri Member-Supervisory Board