…for the group’s executives and employees. AutoWallis has launched a new performance-based compensation policy—designed to support the company’s strategic goals—as part of the Employee Stock Ownership Program (MRP). The company, listed in the Premium category of the Budapest Stock Exchange, plans to nearly triple the group’s revenue from last year in 2021, which is thus expected to exceed 230 billion, while its EBITDA could reach as much as 6 billion forints. The goal of the two-year program is to further incentivize a select group of the group’s executives and employees and align their interests with the achievement of the group’s strategic goals.

AutoWallis has launched a new performance-based compensation policy that supports the Group’s strategic goals as part of the Employee Stock Ownership Program (MRP). The program is open to a select group of executives and employees of AutoWallis and its subsidiaries (the Group). As is well known, the company launched the ESP in 2019 with the assistance of its majority owner, Wallis Asset Management, which provided a block of nearly 20 million shares free of charge. The program, which was launched at that time and is set to expire in September 2022, includes 25 executives from AutoWallis and its subsidiaries, who will receive actual shares if the performance targets set out in the compensation policy are met. AutoWallis is providing the 700,000 shares required to launch the newly initiated program from its treasury stock of 8.6 million shares. The program has a term of 24 months, and participants in the compensation policy will receive the shares only if the set performance targets are met. Gábor Ormosy, CEO of AutoWallis, stated that the MRP, which will be launched annually with a similar structure starting now, effectively supports the implementation of the company’s shareholder value creation strategy and provides additional motivation for key executives to achieve the set goals. He added that the company’s goal is to nearly triple last year’s revenue in 2021, which is thus expected to exceed 230 billion, while its EBITDA could reach as much as 6 billion forints.