“Richter is right on track with management’s expectations and has achieved solid profitability at an unchanged exchange rate,” CEO Gábor Orbán said during an online briefing on Friday to review the first-half results of the pharmaceutical company Richter Gedeon Nyrt. He added that the significant exchange rate impact comes as no surprise to anyone, as […]
Erste Bank Hungary’s operating profit rose by 11%, while its net income fell by 20% in the first half of this year compared to the same period last year due to higher tax burdens, the bank’s chairman and CEO, Radován Jelasity announced at a press conference on Wednesday in Budapest. Erste’s operating revenues were 10% […]
Second-quarter after-tax profit of OTP Bank, Hungary's biggest commercial lender, fell 7% year-on-year to HUF 305.8 billion, an earnings report released ahead of the opening bell on Wednesday shows. OTP noted that it had booked the full-year amount of sectoral taxes in the first quarter. Had those items been booked evenly within the year, Q2 […]
Hungary's seasonally-adjusted Purchasing Managers Index (PMI) stood at 51.4 points in July, slipping from 51.6 in the previous month, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) said on Monday. The PMI was over the 50-point threshold, signaling expansion in the manufacturing sector. Among the PMI sub-indices, the new orders index fell 1.7 […]
Listed building materials maker Masterplast had first-half after-tax profit of EUR 5.2 million, improving from a loss of EUR 4.6 million in the base period, an earnings report released ahead of the opening bell on Thursday shows. Despite the challenging environment, Masterplast Plc. posted one of the strongest first-half performances in its history this year. […]
The Hungarian Competition Authority (GVH) has cleared the acquisition of Sofidel's private-label paper products business in Hungary by Vajda-Papír, Hungary's biggest maker of hygienic paper products, Vajda-Papír said on Wednesday. The watchdog established that the merger would not reduce competition on the affected markets to a significant degree. The transaction is expected to close when […]
Hungarian oil and gas company MOL announced on Tuesday the expansion of its Plugee network of EV charging stations with European Union support. Mol Plugee, the Mol Group’s electric mobility service provider, is establishing and developing ultra-fast charging infrastructure at nine Mol charging stations in Hungary; the company has secured 396 million forints in funding […]
The US-owned energy equipment manufacturing and services company GE Vernova is upgrading its base in Veresegyház, on the outskirts of the capital. According to the announcement, the upgrade includes a large-scale solar park development, the installation of new production lines, and the commissioning of high-performance, precision machinery. A solar farm is being built at the […]
Appeninn Asset Management Holding Public Limited Company, based in Budapest, has informed investors in an extraordinary announcement on the website of the Budapest Stock Exchange that the Polish project companies owned by Appeninn Project-EGRV Ltd. have signed a loan agreement with Erste Group Bank AG. The purpose of the loan agreement is to finance the […]
Japanese car maker Suzuki is set to invest HUF 76 billion into manufacturing of electric vehicles and battery packs at its base in Esztergom, the Hungarian Minister for Economy and Energy István Kapitány said in a social media post on Friday. The minister noted that, along with Prime Minister Péter Magyar, he met Toshihiro Suzuki, […]
Business and consumer sentiment in Hungary improved in July, a monthly gauge by economic research institute GKI shows. GKI's business confidence index rose by three points and the consumer confidence index climbed by two points, edging into positive territory, chief researcher Raymund Petz said. He acknowledged the advance of the business sentiment index in April, […]
MOL Plc. has notified the capital markets on the website of the Budapest Stock Exchange that according to Act XVIII of 2026 on the amendment of certain laws required for access to European Union Funds, non-university related public interest trusts performing public duties (hereinafter: KEKVA) shall be dissolved by July 31, 2026. "According to the […]
Provident Financial Ltd. has reached another milestone: it has officially opened its 20th customer service center in Hungary, located in District IX, which is also the company’s second customer service center in Budapest. The company says that thanks to the new customer service center, residents of South Pest and the surrounding metropolitan area can access […]
Based on May data from the Hungarian Central Statistical Office (KSH), there are no signs of a turnaround in the construction industry yet: production volume fell by 10.7% year-on-year and by 6.5 % compared to the previous month. However, according to the local unit of Italian building materials manufacturer Mapei, the statistics do not yet […]
Hungary's largest lender, OTP Bank Plc. announces that it signed a share purchase agreement to acquire 100% of the shares of Luminor Holding, the parent company of Luminor Bank, operating in the Baltic region. In an extraordinary announcement, OTP Bank Plc. said on the website of the Budapest Stock Exchange that the shares of Luminor […]
