Founded in Budapest in 1995, ITL Group Ltd. has been providing business consulting services for over three decades now. Over this period, the company has helped more than 500 companies with their daily requirements, supporting the development of their activities and advising them about their local market. Alessandro Farina recalls to Diplomacy&Trade that he arrived […]
Listed Hungarian automotive industry company Rába booked a HUF 0.1 billion loss in the first half as revenue fell and margins narrowed, an earnings report shows. In the base period, Rába booked profit of HUF 2.1 billion. Revenue dropped 14% to HUF 24.8 billion. The ratio of export sales edged up 1pp to 78%. Rába […]
Founded in October 2022, Confindustria Ungheria is an association established as a meeting space for those who recognize Hungary as a place for investment, development and growth of their businesses. Its goal is to support the Italian business community by valuing members through meeting, aggregating and developing relationships between the different presences in the area. […]
The Italian Trade Agency (ICE) is the governmental organization that supports the business development of Italian companies abroad and promotes the attraction of foreign investment in Italy through various events like business fairs, seminars and workshops. As the Director of the agency in Budapest, Giovanna Chiappini Carpena explains to Diplomacy&Trade, they work closely with Italian […]
Vajda-Papír Ltd., a manufacturer of hygiene paper products, saw its revenue rise by more than 12 % to HUF 50.91 billion last year compared to the previous year, while its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 7.2 % to HUF 3.01 billion, the company has announced. According to the report, the […]
Net sales of ANY Security Printing Company PLC for 2026 amounted to HUF 33.2 billion, which is 5.6 billion (14%) lower than in the base period, the company has announced on the website of the Budapest Stock Exchange. Sales of security products, solutions were HUF 17.2 billion 3.4 billion (16%) lower, than in the base […]
Parcel terminal operator Foxpost, a member of Czech Packeta group, is investing around EUR 2 millon to double capacity at its sorting facility in Fót, on the outskirts of the capital, the company has said in a statement. An automated sorting line will boost hourly capacity to 12,000-14,000 from 7,200 packages when it starts operating […]
First-half net income of Hungarian hauler Waberer's rose 24% year-on-year to EUR 25.9 million, an earnings report published on Thursday shows. Excluding the impact of unrealized financial gains, net income fell 20% to EUR 14.2 million. Earnings per share reached EUR 1.3. Revenue rose 9% to EUR 435.0 million. Revenue of the logistics business rose […]
Output of the automotive industry, Hungary's biggest manufacturing sector, climbed 21% year-on-year in June, a detailed reading of data released by the Central Statisticaql Office (KSH) on Thursday shows. The automotive segment accounted for 27% of manufacturing output during the month. Output of the computer, electronics and optical equipment segment, which accounted for 15% of […]
Building on successful projects in France, Continest’s Rental division has reached another milestone: the company has launched its first representative office in France, the company says in a press release. By leveraging the logistical and cost advantages of a local presence, this partnership makes Continest’s innovative solutions available on even more favorable terms to organizers […]
More than 578,000 active sole proprietorships were operating in Hungary at the end of June; their number increased by more than 30,000 over the past year and by 21,000 in the first half of this year, the business information provider OPTEN reported on Monday. The announcement noted that 2024 marked the first time there were […]
“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 […]
