AutoWallis Plc. is launching a new results-based remuneration policy to support its strategic goals as part of the fourth Employee Share Ownership Plan (ESOP). 119 executives and employees of AutoWallis and of its continuously expanding range of subsidiaries are participating in the current program. AutoWallis CEO Gábor Ormosy said the three ESOPs already launched have realized their goals: the company closed another record year in 2022 after its revenue increased by almost 40 percent to reach HUF 270 billion and its EBITDA almost doubling last year’s figure to reach HUF 14.5 billion, which means growth was accompanied by significant improvements in efficiency. The CEO pointed out that this was the fourth record year in a row since the company’s 2019 IPO and the launch of the first ESOP. Accordingly, the new programs, launched every year in a similar structure, effectively support the shareholder value creation strategy and are a further incentive for key managers to achieve the objectives set. Under the Articles of Incorporation, the 4,868,747 AutoWallis ordinary shares necessary for the program can be acquired by the ESOP organization either from AutoWallis Plc. or it can directly purchase those with stock exchange transactions using its own funds received from the issuer; AutoWallis Plc. also provided the ESOP organization with a share purchase option. There are number of programs within the current ESOP: the term of this plan is either 24 or 36 months, and the participants will receive the shares within the context of this remuneration policy only when the set results objectives are met.

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