Duna House Group`s revenue grew by 89% to HUF 8.9 billion and EBITDA tripled to HUF 1.6 billion in Q4 2022 compared to the previous year. For the full year 2022, consolidated revenue doubled to HUF 30.3 billion and EBITDA jumped by 120% to HUF 4.4 billion, the company reported on the website of the […]

With an investment of HUF 20 billion, Lipóti Tóth & Társai Ltd. has built Hungary's largest bread, pastry and confectionery production plant in Hatvan, east of Budapest. The development will create 260 new jobs. The Hungarian-owned family business, which employs 70 subcontractors and has around 350 outlets, is the only bakery company to sell its […]

The Hungarian pharmaceutical company Gedeon Richter Plc. presented its results for the year 2022 this Tuesday. The report caused a price drop on the stock market, as it turned out that the always massively profitable company turned loss-making in the last quarter of the year (due to the special tax and the exchange rate change). […]

In February, both business and consumer expectations improved, but continued to reflect a poor mood. According to the empirical survey conducted by GKI Economic Research Co. with the support of the EU, consumers were still more pessimistic than they were in 2020, during the panic that started when the new coronavirus pandemic broke out. In […]

Companies in many countries around the world, including Hungary, are threatened by a significant proportion of employees quitting their jobs, according to a Deloitte survey, the findings of which were published in a statement on Monday. The consultancy firm pointed out that in Hungary, the situation is similar to international trends, with 57% of domestic […]

The earnings expectations and investment intentions of micro, small and medium-sized enterprises in Hungary improved slightly in November last year compared to the previous quarter, while their sales forecasts stagnated, according to the latest survey of the K&H SME Confidence Index. According to a K&H statement sent to MTI on Monday, the survey summarizing expectations […]

Hungarian industrial solar power generation reached a new historic record on February 21, with 2,030.5 megawatts (MW) of energy produced by industrial-scale solar power plants at the midday peak, breaking the previous record of 1,953 MW set on February 10, the Hungarian Independent Transmission Operator Co. Ltd. (MAVIR) said on its website. According to the […]

ADVANTAGE AUSTRIA is the Austrian Federal Economic Chamber's external trade agency in charge of trade development and Austria's largest provider of foreign trade services. The new head of the organization’s office in the Hungarian capital, Philipp Schramel tells Diplomacy&Trade about the tasks performed – and services provided – by the Budapest office. “We have three […]

The number of cars registered in Hungary is growing rapidly, but so is their average age. The latter has been rising steadily since the 2008 crisis, according to recent data from the Hungarian Central Statistical Office (KSH). As the business news site portfolio.hu points out, a turnaround would certainly require a rise in the living […]

The stock index of the Budapest Stock Exchange (BSE) declined this week, closing at 45,268.11 points on Friday, down 358.81 points or 0.79% from a week earlier, MTI reported this Sunday morning along with a brief analysis. The weekly turnover of the stock market was HUF 23.26 billion, up from HUF 35.72 billion the previous […]

Bácska-Logistik of Baja, S Hungary, has won a grant of almost HUF 300 million for the construction of a new gas station and a self-service restaurant exclusively for trucks. The company received a grant of HUF 290.5 million from the Széchenyi 2020 program for the investment, which cost a total of HUF 437.8 million, with […]

The railway passenger transportation company MÁV-Start has put into service all 40 KISS double-decker multiple units delivered to the company by Stadler under the framework contract signed in 2017, completing the railway company's fleet of double-decker multiple units. Zoltán Pafféri, Chairman and CEO of the mother company MÁV, stressed at a press conference at the […]

Unregulated storage of small boats on Lake Balaton is leading to more and more conflicts; Gábor Lombár, the president of the Balaton Association of local authorities wants to see a change in the law. The president pointed out that according to the Central Transdanubian Water Management Directorate (KDTVÍZIG), the Lake Balaton basin manager, 32 underwater […]

On Friday, 5,003 people entered Hungary at the Ukrainian-Hungarian border, while 6,924 of those entering at the Romanian-Hungarian border said they had come from Ukraine, the National Police Headquarters (ORFK) said. Of those who entered, police issued 69 people with temporary residence permits valid for 30 days. They will have to go to the office […]

Kayakfirst Ltd., a manufacturer of sports equipment for the indoor practice of the sport of kayak canoeing, has expanded its capacity in the southeastern Hungarian city of Szeged with a grant from the European Union. József Weimper, who founded the company and is an active kayaker himself, said at the Friday event to present the […]