German Firm's Subsidiaries in Hungarian State Ownership

State-owned Hungarian energy group MVM has acquired the Hungarian and two Chinese subsidiaries of the German energy company Enexio.

With the change of ownership, MVM also received a world-famous Hungarian patent, the Heller-Forgó's refrigeration system, which made Enexio an important player in the energy market.

According to the sales director of Enexio Hungary Zrt., Balázs Lakatos, the company became the property of MVM at a good time, having strengthened by international experience.
Its predecessor was privatized in 1993, but has gained significant knowledge and experience over the decades spent in German ownership, he added. Enexio Hungary Zrt. closed its financial year with an after tax profit of EUR 3.5 million in 2018 and EUR 1.5 million in 2019, while its turnover increased from EUR 5.9 million to EUR 18 million, according to company data. The vast majority of its revenue come from foreign sales.