Mapei Hungarian Turnover Up by 22% in 2021

The turnover of Mapei Ltd., a distributor of building materials, increased in Hungary by 22% year-on-year to HUF 27.7 billion last year, and is expected to reach HUF 33 billion this year, up 19%.

The company's managing director, Béla Markovich, presented the company's research on the shortage of construction professionals at a press conference in Budapest on Wednesday. The representative survey of 3,580 people showed that in February this year, the average wait time for a construction professional to start work was 138 days. The high figure is linked to the fact that home renovation grants are available until the end of the year, according to Béla Markovich.   

According to the survey, the longest waiting time for each profession was 148 days on average for mechanics, 140 days for tinsmiths, 136 days for tilers and 135 days for electricians, while the second longest waiting time was 94 days for masons. 

The survey also looked at the impact of rising construction and renovation costs. It found that 33% of builders and renovators decided to change their plans to some extent as a result of price rises. Within this, 7% of respondents abandoned their construction or renovation plans, while a further 27% reduced the content of their investment, for example by using cheaper, lower quality materials.

In response to questions, Béla Markovich said that he expects a 10-12% price increase in the building materials market for the rest of this year, but that this figure could vary across product groups.