AutoWallis Profits Put into Retained Earnings

Shareholders of listed car seller AutoWallis voted at an annual general meeting to put all of last year's profit into retained earnings, the company said on the Budapest Stock Exchange on Wednesday.

It means that in addition to its existing resources, the AutoWallis Group may also allocate its after-tax profit of nearly HUF 5 billion generated last year to the implementation of its growth strategy, following shareholder approval at the annual general meeting of the Board of Directors’ proposal on the 2025 annual report and the use of profit. At the general meeting, shareholders also resolved, among other things, to grant authorizations for treasury share purchases as well as for capital increases.

Shareholders also authorized the board to increase the share capital within five years by up to HUF 10 billion, as a previous authorization is now expiring, if deemed necessary, for example, to finance growth or larger-scale acquisitions.

It was also decided to renew the board’s previous authorization to purchase treasury shares up to a maximum of 25% of the share capital.

AutoWallis closed last year with a consolidated revenue of HUF 477 billion, EBITDA of HUF 18.9 billion and a total comprehensive income of HUF 4.9 billion.