The Wallis Group, one of Hungary's largest corporate conglomerates, reported a record revenue of 717 billion HUF (approximately 2.3 billion EUR) for the year 2024. This marks the highest revenue in the 35-year history of the company, founded and owned by Tibor Veres, Hungary's fourth richest individual with a net worth of 480 billion HUF.

The reported revenue reflects a 41% growth over the past three years, with nearly 60% derived from international markets, demonstrating the group’s significant global presence.

Operating in diverse sectors including real estate development, automotive trade, mobility services, retail, and flooring manufacturing, the group’s portfolio companies have established influential positions in Germany, Poland, and several other countries across Central and Eastern Europe.

In recent years, both the total revenue and the proportion of revenue sourced from foreign markets have shown consistent growth, with international revenue surpassing domestic earnings starting in 2023.

Gyula Mező, CEO of Wallis Asset Management Zrt., commented on the group's performance, highlighting the stable revenue growth observed annually alongside a high level of profitability and the strengthening of international positions.

The company’s diversified operations have shown resilience even amid challenging economic conditions.

The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the Wallis Group reached 103 billion HUF in 2024, largely attributed to results from the real estate arm, WING Group.

WING, a major subsidiary in real estate development operating in Hungary, Germany, and Poland, reported a revenue of 198 billion HUF and an EBITDA of 69 billion HUF for 2024. The subsidiary's stability is reinforced by a successful bond issuance in April last year of 50 million EUR and another totaling 65 million EUR in May of this year, both attracting substantial investor interest.

WING also holds a 60% majority stake in BAUWERT AG, a prominent German residential and commercial real estate developer.

Another significant subsidiary, AUTOWALLIS, specializing in automotive trade and mobility services, achieved a revenue of 398 billion HUF and an EBITDA of 20 billion HUF in 2024. The company represents 29 car brands across 16 countries in the region and aims to double its results by 2028, projecting annual vehicle sales reaching 100,000 units and a revenue target of 750 billion HUF.

The PRAKTIKER chain, a Hungarian DIY retailer under Wallis since 2016, reported a revenue increase to 88.1 billion HUF and an EBITDA of 3 billion HUF in 2024. The retailer successfully executed strategic investments, improving its customer value proposition and operational efficiency, ultimately growing its market share to 31.8% in a challenging economic environment.

Established in 2000, GRABOPLAST, the largest independent specialized flooring manufacturer in Central and Eastern Europe and celebrating its 120th anniversary, recorded a revenue of 20 billion HUF with an EBITDA of 2 billion HUF in 2024. Earlier this year, GRABOPLAST signed a strategic agreement with China's ENLIO Group to sell sports flooring in Asia's largest market.