At AutoWallis’s regular annual General Meeting, the shareholders approved the company’s 2022 report, containing yet new record revenues and profits. The revenue of the company listed in the Premium category of the Budapest Stock Exchange increased by almost 40 percent to reach HUF 270 billion, with its EBITDA almost doubling last year’s figure to reach HUF 14.5 billion (+85%), which means growth was accompanied by significant improvements in efficiency. This has been the fourth record year in a row the since the company went public in 2019 even though the business environment was far from without its challenges. However, recent years have shown that the growth strategy announced when the company was listed and then amended with higher figures in 2021 is so crisis-proof that a number of points have since been exceeded on a pro rata basis. The shareholders approved the recommendation of the Board to keep HUF 8.6 billion of after-tax profits in the profit reserve. The HUF 9.2 billion dividend base consisting of the company’s individual after-tax profits and the dividends from its subsidiaries will be used to support AutoWallis’s targets for continued growth and to implement its strategy. Shareholders have also authorized the Board to increase the company’s share capital, if considered necessary for example in the interest of growth or larger acquisitions. The company’s General Meeting renewed the Board’s previous authorization to purchase treasury shares equal to no more than 25 percent of the share capital. One of the main objectives of the share buyback is to secure the share requirements of the Employee Share Ownership Plan, for which the current share price level may be a suitable timing, especially in light of analyst target prices that are significantly above the current share price.

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