AutoWallis’s Board of Directors took decisions regarding the agenda items of the General Assembly convened for today, empowered to act within the competence of the General Assembly due to the COVID-19 epidemic. Among other things, it approved the 2020 reports, decided on the use of the dividend fund, and elected a new auditor with an international background.
In accordance with the previously announced proposals, AutoWallis’s Board of Directors took decisions regarding the agenda items of the Annual General Assembly originally convened for today, empowered to act within the competence of the General Assembly due to the regulatory restrictions announced in connection with the COVID-19 epidemic (based on Section 9 (2) of Government Decree no. 502/2020. (XI. 16.) reintroducing different provisions regarding the operation of personal and property pooling organizations in the event of an emergency). Among other things, the Board of Directors approved its consolidated report of the year 2020, according to which the revenue of the corporation and its consolidated subsidiaries increased by 17% to an all-time record of HUF 88 billion despite the restrictions imposed due to the outbreak of the COVID-19 epidemic, owing to organic growth and the six transactions concluded last year, while the corporation achieved an EBITDA of HUF 2.1 billion in the previous year, alongside a 28% decrease. Planning to use it for financing its growth strategy, the corporation shall not pay dividends from the HUF 1.2 billion dividend fund generated in 2020, and composed of the HUF 910 million total comprehensive annual income and retained profit (according to the separate (stand-alone) financial statement of the IFRS serving as the basis for dividend-related decisions), and of the dividends received from its subsidiaries. Due to the dynamic domestic and Central and Eastern European expansion of AutoWallis, the Board of Directors has elected a new auditor with an international background. With this decision, PricewaterhouseCoopers Könyvvizsgáló Kft. is elected until the day of the General Assembly closing the financial year of 2023, but no later than June 30, 2024.