The bigger than expected decline in Hungary’s economic output has dealt a significant blow to the government’s budget plan for 2020. As a result of the weak GDP data in the second quarter and further restrictive measures made necessary by the second wave of the epidemic, the Finance Ministry was forced to revise its budget […]
The Swiss-Hungarian Chamber of Commerce ‘Swisscham Hungary’ was founded in 1995. The leaders of the organization, President Dr. István Béres and Managing Director Júlia Lipovecz had a different jubilee year in mind for 2020. They tell Diplomacy&Trade what they planned, what they could do and what they have postponed due to the pandemic situation. “We […]
Nilfisk, a leading global manufacturer of cleaning machines for professionals and consumers, is expanding its footprint and investment in Hungary with the establishment of a new joint IT innovation & HR Services hub in Budapest. Nilfisk has been present in Hungary for more than 20 years with assembly facilities in Szigetszentmiklós and Nagykanizsa. The new […]
A three-year price record for the shares of the Hungarian pharmaceutical company Gedeon Richter was broken on Monday: the price rose above HUF 7,300 at the Budapest Stock Exchange. The company is one of the winners of the coronavirus epidemic, it is helped by the weakening of the Hungarian currency, and its sales are not […]
Ariston Thermo Group, which manufactures and sells thermal engineering products, achieved record revenue of EUR 1.71 billion in the 2019 fiscal year, up 6.1% from 2018, the company told the Hungarian news agency MTI. 72% of the group’s revenue last year came from renewable and high-efficiency solutions. Paolo Merloni, Chairman of the Board of Ariston […]
The sales revenue in the first half of 2020 of ANY Printing Company Plc. was HUF 13 billion. Exports reached HUF 5.7 billion, which represents a 44% ratio. In the first half of 2020, ANY’s sales revenue is HUF 13 billion, which is 19% lower than in the same period last year. Export sales is […]
In the context of the rolling revision of Takarék Group’s strategy in 2020 the priorities of the Group remain the deepening of synergies between the entities of the Integration, continued improvements in the cooperation between members and in the Group’s competitiveness in general, the bank says on the website of the Budapest Stock Exchange. At […]
The Bavarian-owned Sano - Modern Takarmányozás ('Modern Fodder') Ltd. acquires Solum Mezőgazdasági ('Agricultural) Co. Ltd. in Komárom and establishes one of the most modern pig and cattle farms in the world with an investment of HUF 12 billion. Sano managing director Zsolt Csorba told the Hungarian news agency MTI that more than 80% of the […]
German retail chain Aldi's Hungarian companies will create 250 new commercial, logistics and IT jobs in Hungary by the end of the year, according to Aldi Magyarország Managing Director Bernhard Haider. They are looking for 100 new employees in their stores, and the cold storage warehouse in Biatorbágy, which will be completed in the autumn, […]
The COVID-19 pandemic has not affected the Budapest office building site Graphisoft Park as badly as many other businesses, according to the Interim Management Report published this Thursday. The first wave of COVID-19 crisis affected Graphisoft Park less seriously than earlier expected, however general expectations still show uncertainty for years 2020 and 2021, the report […]
The volume of construction output, based on raw data, was 15.7% lower in June 2020 compared to the high base of the previous year. Output decreased in both main groups of construction: in the construction of buildings by 14.2%, in civil engineering by 17.5%. Based on seasonally and working day adjusted indices construction output increased […]
Hungary's MOL Group announced its financial results for the first half and second quarter of 2020. In the first six months, the Group delivered USD 975 mn EBITDA while Q2 EBITDA significantly declined compared to last year, due to the pandemic and economic crisis. The 2020 capex guidance of up to USD 1.5 bn was […]
Skanska, one of the leading development and construction companies in Europe. invests about EUR 65 M in the first phase of the new office complex H2Offices located in the Hungarian capital. The project will offer a total leasable area of about 26 000 square meters. Designed to obtain WELL and LEED certifications, the project stands […]
Budapest Airport has welcomed the 3500th flight of Cargolux at Liszt Ferenc International Airport. The Luxembourg-based airline has been ensuring connections between airports around the world, air freight operators, and Budapest Airport for 18 years now. 18 years, 3500 flights, more than 200 000 tons of air cargo of the electronics, automotive, and pharmaceutical industries, […]
Magyar Telekom has published its financial results for the second quarter and first half of 2020 on the website of the Budapest Stock Exchange. Among the financial highlights, the company says revenues declined by HUF 3.6 billion, or 2.2% year-on-year, to HUF 157.2 billion in Q2 2020, driven by lower contribution from the SI/IT business […]
