Hell Energy's After-Tax Profit Rose in H1 2024

The after-tax profit of energy and soft drinks producer Hell Energy Group increased by 137.8% to HUF 13.72 billion in the first half of 2024 compared to the same period a year earlier, Hell Energy Hungary Ltd. announced on the website of the Budapest Stock Exchange (BSE) on Wednesday.

The sales volume increased by 14.1% year-on-year to 721 million units, pushing up the group's net sales by 22% to HUF 97.03 billion. The increase in sales enabled a 30 percent rise in operating profit, boosted by outstanding results in financial operations, which allowed for an outstanding increase in profit after tax.

While the report warns that the company's performance is exposed to developments in Hungary, its strategic target countries and the global macroeconomic and regulatory environment, as well as to developments in raw material and energy prices, it also says that "no specific circumstances have been identified that could have a material impact on the company's financial position and financial performance in 2024."

Hell Energy was established in 2006 as a 100% Hungarian brand and by 2010, had become the market leader in Hungary and a dominant player in the international energy drinks market, with an export market now spanning more than 50 countries.

In addition to Hungary, the company is the market leader in Bulgaria, Romania, Bosnia and Herzegovina, Slovakia, Croatia, Greece and Cyprus.