News
The HUF 6-8 billion public offering of AutoWallis shares for the company’s HUF 16-38 billion acquisition and business development plans will start on October 25
The National Bank of Hungary has approved the prospectus for the largest public offering in recent years, based on which on October 25 AutoWallis can launch its public offering in a value of HUF 6-8 billion, or even more in case of oversubscription. The vehicle company registered on the Budapest Stock Exchange plans to increase its revenue to more than HUF 400 billion, more than four times compare to 2020 numbers, and its EBITDA by more than six times compare to 2020 numbers, possibly to more than HUF 15 billion, by 2025. AutoWallis is present in 14 countries in the Central and Eastern European region with its vehicle trading and mobility service activities, and it plans to realize dynamic growth by way of new transactions and acquisitions in addition to organic growth. According to the company’s announcement today, the primary goal of raising capital is to provide financing for the HUF 16-38 billion in transactions, acquisitions, and developments planned by 2025.
2021.10.14.
Read moreThe Wallis Group continues to support AutoWallis’s plans for regional growth
For one year, WAM will lock up its own AutoWallis shares in case of a public issue
AutoWallis’s main shareholder, Wallis Asset Management Zrt., continues to support the company’ strategy and plans for the public raising of capital, which is why it undertook to refrain from reducing the number of its shares for one year following the public share offering planned by AutoWallis, even planning to purchase new shares in the course of the issue. Tibor Veres, Chairman of the Board at Wallis Asset Management, said they are satisfied with AutoWallis’s results and the company is continuing along the path determined at the outset thanks to the buy-outs, transactions, and organic growth it has implemented along the way. For AutoWallis, the changes in the vehicle trading and mobility market provide new opportunities for acquisitions, acquiring market shares, and business development; the company is currently examining the possibilities for growth and acquisitions in the interest of making the most of these opportunities.
2021.10.08.
Read moreKalliwoda: Buy recommendation and a 12-month price target of HUF 218 for AutoWallis shares
With a 12-month price target of HUF 218 and a buy recommendation, Kalliwoda Research Gmbh has started tracking AutoWallis Group’s shares at the request of AutoWallis.
2021.09.27.
Read moreInformation on the accounting restatements and reclassifications presented in the disclosure relating to the semi-annual report for H1 2021 published on 2 September 2021
The Company made the following accounting restatements and reclassifications presented in the disclosure relating to the semi-annual report for H1 2021 published on 2 September 2021 on the basis of the comments made by the Company’s auditor on the Semi-annual Report.
2021.09.23.
Read moreOTP Bank: Buy recommendation and a 12-month price target of HUF 164 for AutoWallis shares
2021.09.16.
Read moreOrganisational development is also being used to support dynamic growth at AutoWallis
In support of its growth strategy, AutoWallis has decided to implement an organisational transformation: starting from September, separate directors will be heading up the company’s two business units. The listed automotive company has appointed members of its Board of Directors with extensive experience to fill the new management positions. In parallel, with the increase in regional tasks the Group’s Finance Director will continue to bolster the Distribution Business Unit in the newly created position of Director of Strategy and Business Development, with the thus vacated position filled by a new, experienced manager arriving from outside the company. The aim of these organisational changes is to ensure that business developments can effectively support, with the use of available synergies, the strategic goal of making AutoWallis Plc. a major vehicle trading company and mobility service provider in the Central and Eastern European region by the end of the decade.
2021.09.06.
Read moreRecord revenue and profit accompanied by increasing efficiency in the first half
In just half a year, last year’s entire revenue was surpassed by AutoWallis while the efficiency of its operations also grew in line with the contents of its strategy. The Group’s revenue in the first six months amounted to HUF 97.7 billion, its total comprehensive profit to HUF 1.2 billion, and its earning per share (EPS) to HUF 3.52.
2021.09.06.
Read moreTo expand its mobility services, a technical base is being established next to the Airport by an AutoWallis subsidiary
A technical base is being developed near Budapest Ferenc Liszt International Airport by Sixt, a member of the AutoWallis Group, in the interest of preparing the Group for serving car sharing and even fleet management providers in addition to developing its car rental services. Of the company’s HUF 565 million investment project, HUF 282 million is being provided by the Ministry of Foreign Affairs and Trade as part of a non-refundable grant.
