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Vajda-Papír: New Factory Unit in Dunaföldvár

Nov 19, 2020

Vajda-Papír, the leading Hungarian-owned manufacturer in the market of hygienic paper products, has announced the investment totaling HUF 16 billion investment at a digital foundation ceremony. According to the announcement, the investment project will help retain 600 workplaces and create 50 new jobs. The Hungarian government will provide HUF 5.5 billion, about a third of […]

MOL Recognized for Corporate Sustainability

Nov 17, 2020

The Hungarian oil and gas company MOL Plc. has announced that it has again qualified for inclusion in the Dow Jones Sustainability World Index (DJSI) in the Upstream & Integrated Oil & Gas category following the 2020 assessment process. A statement by the company says this is the fifth consecutive year that MOL has been […]

Alteo Doing Well Despite the Pandemic

Nov 16, 2020

Despite the pandemic,the Hungarian energy service provider firm ALTEO continued to grow, reaching sales of nearly HUF 5.5 billion in the 3rd quarter of 2020. A quarterly report by the company says that since a significant portion of the profitability of ALTEO’s activities is less vulnerable to changes in the economic cycle, the principal focus […]

Swisscham Plants Trees for Future Generations

Nov 12, 2020

Swisscham Hungary, which is 25 years old this year, has recently planted 25 seedlings in the Népliget park in Budapest. This way, the Swiss-Hungarian Chamber of Commerce not only contributes to the protection of the environment and a sustainable future, but also strengthens the joint work with the participating member companies. A statement by the […]

MOL Group Tops Hungarian Corporate Revenue List

Nov 11, 2020

The Hungarian business weekly HVG has prepared the list of the country's corporate entities with the highest revenues in 2019. The oil and gas group MOL continues to top the list of 500 companies but the largest anual revenue increase was produced by Audi Hungaria. According to, the combined sales of the 500 companies […]

SEMCORP Group Chooses Hungary to Appear Outside China

Nov 10, 2020

As the first production unit of the SEMCORP Group outside China, a lithium-ion battery separator film plant will be established in the Debrecen South Industrial Park. According to a report by the Hungarian Investment Promotion Agency, the 97,000 m2 plant will start operations in early 2023, increasing the company's annual film production capacity by approximately […]

MOL Group's Danube refinery

MOL Group Announces Third Quarter Results

Nov 9, 2020

During the pandemic and economic crises, Clean CCS EBITDA at the Hungarian oil and gas group MOL strongly rebounded from the second quarter lows and came in at USD 610 mn in Q3 2020, only 12% lower than in the same period last year. According to a press release by the Group, this result brought […]

Profit Increase at Magyar Telekom

Nov 7, 2020

Magyar Telekom's consolidated after-tax profit increased by 50.9% to HUF 19.7 billion in the third quarter of this year, exceeding analysts' expectations, and sales increased by 1.8% to HUF 167.7 billion. In the first nine months of this year, Magyar Telekom's group-level sales remained unchanged at HUF 484.2 billion, and after tax profit decreased by […]

Third Quarter Profit at Erste Bank Hungary

Nov 5, 2020

In the third quarter of this year, the Erste Bank Hungary made a profit. There was no need to make as many provisions, revenues also increased, for example, housing loans sold much better than expected, the news site reports, Erste Bank's first nine months' results show the impact of the coronavirus epidemic. Between January […]

Decreasing Sales at Zwack Unicum

Nov 5, 2020

Total gross sales at the company amounted to HUF 10,724 million in the first half of the 2020-2021 business year - a year-on-year decrease of 12.3%. Net sales (that is, sales revenues excluding excise tax and public health product tax) were HUF 5,724 million, which is a a year-on-year decrease of 11.5%. A report by […]

Hungarian Invention to Completely Degrade Plastic

Nov 3, 2020

Two young Hungarians produced a bacterium cocktail, unique in the world, which can break down any disposable plastic in seven weeks. They are now embarking on industrial testing, after Vespucci Partners in Budapest and American Techstars, one of the world's most renowned international accelerators, have also invested in a biotech startup called Poliloop, the Hungarian […]

SPAR Hungary Acquires ZIMBO Meat Processing Plant

Nov 2, 2020

SPAR Hungary Ltd. has purchased the plant of ZIMBO Perbál Húsipari Termelő Kft. ('Meat Industry Production Ltd.'). Following the successful completion of the transaction, the company will further modernize the meat plant, which opened in 1998 in Perbál, just west of Budapest. “The most important goal of SPAR is to deliver quality products from controlled […]

Czech Acquisition by Hungarian Electricity Company MVM

Oct 31, 2020

Following approval by the European Commission, Hungary's MVM Co. Ltd. has acquired the 100% ownership of innogy Česká republika a.s. A statement by MVM Group points out that MVM Co. Ltd. has acquired the largest natural gas trader in the Czech Republic, which is increasingly present in electricity trading market as well. The Czech company […]

Q1-Q3 CEE Investment Volumes Down Compared to 2019

Oct 29, 2020

Despite investor appetite remaining strong for the Central and Eastern European (CEE) region, year-end volumes are likely to reach EUR 10-11 billion, appr. 20% lower than in 2019, Colliers International reveals. Despite COVID-19 impacts on markets, flow volumes remain relatively healthy for the first three quarters of 2020 at appr. EUR 8 billion. Poland attracted […]

German Firm's Subsidiaries in Hungarian State Ownership

Oct 28, 2020

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 […]

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