Egis Pharmaceuticals Ltd. has unveiled one of the most significant developments in its 112-year history in Budapest. The company will manufacture the active ingredient for a globally leading product at its new HUF 30 billion plant, which was financed from its own resources, the company told MTI on Thursday. According to the announcement, what makes […]
Hiventures, the venture capital arm of the state-owned Hungarian Development Bank (MFB), has invested HUF 600 million from its fashion and design fund in Kuube Hungary. In a statement issued on Thursday, Hiventures said Kuube Hungary develops and sells solar powered off-grid smart benches, as well as smart street furniture for bus stops and public […]
Around 52% of large Hungarian companies are planning to make investments within a year, K+H Bank told MTI on Thursday based on a third quarter survey. According to the financial institution's third-quarter survey, the most popular area of investment is production machinery, with a 22% share, which is a 4 percentage point increase compared to […]
MBH Bank, Hungary's second-biggest commercial lender, on Tuesday announced the acquisition of a controlling stake in real estate broker Otthon Centrum from a unit of Biggeorge Holding. MBH Bank agreed to acquire an 80% stake in the broker and expects to acquire the remaining 20% stake in 2028, if certain conditions are met. The deal […]
Magyar Telekom , the leading Hungarian telecommunications service provider, has announced on the website of the Budapest Stock Exchange that it has reached an agreement with the trade unions on the amount of the 2025 one-off compensation, the level of 2026 pay increase, other compensations and the efficiency measures at Magyar Telekom Plc. and Telekom […]
After-tax profit of listed alternative energy company ALTEO fell 68% year-on-year to HUF 2.7 billion on higher costs, an earnings report released on Monday shows. Revenue rose 16% to HUF 86.8 billion. Material costs increased 28% to HUF 61.2 billion and payroll costs climbed 55% to HUF 11.8 billion. Diluted earnings per share came to […]
Net income of listed car seller AutoWallis dropped 24% year-on-year to HUF 3.6 billion in Q1-Q3, an earnings report published on Monday shows. Revenue rose 21% to HUF 353.2 billion. Revenue of the wholesale division edged up 4% to HUF 168.5 billion, while revenue of the retail business climbed 43% to HUF 177.0 billion. Operating […]
The discount airline closed the peak travel season from April to September with strong performance, implementing a targeted strategic shift to reduce business risks and put itself on a path to profitable growth. Wizz Air carried 36.5 million passengers in the first half of its financial year (April-September), up 9.8% from the same period last […]
Business association VOSZ (Confederation of Hungarian Business) announced this Friday the launch of a program to promote links between multinationals and local SMEs. VOSZ's MutliMentor Program involves a screening element to ensure suitability, a mentoring scheme to help potential suppliers meet certification and financial requirements for supplying multinationals, and a networking component. VOSZ will match […]
Capacity expansion, research and development, and employee training are all part of a nearly EUR 200 million investment program that the American consumer goods giant is launching at its Gyöngyös and Csömör sites, both east of Budapest. A quater of the investment costs will be covered by Hungarian taxpayers through a government decision to provide […]
Third-quarter net income of Magyar Telekom rose 24% year-on-year to HUF 55.3 billion, supported by a wider margin and the rollback of a supplementary telecommunications tax, as shown by an earnings report released on Wednesday and summarized by MTI. Revenue edged down 1% to HUF 242.9 billion. Direct costs fell 6% to HUF 89.0 billion, […]
Three Hungarian companies are among the top ten in a regional ranking based on revenue according to a study by trade credit risk management company Coface. Oil and gas company MOL is in fourth place in the Coface CEE Top 500 ranking, state-owned energy company MVM is in eighth and Audi Hungaria is in tenth […]
Mercedes-Benz is launching a research and development (R&D) project in Kecskemét, marking the first time the premium German car manufacturer has chosen Hungary for one of its highest value-added investments. The EUR 54.4 million project - about a quarter of which is covered by Hungarian taxpayers through a government decision to provide state support - […]
Bakery and confectionery products maker Ceres Bakery plans to build a HUF 24 billion bread plant in an industrial park in Tata (NW Hungary), the company's business director, István Mikos told MTI. István Mikos said the 14,000sqm plant would be built with the financial backing of Czech parent Agrofert Group. By 2027, the plant could […]
The Budapest Stock Exchange launched the tenth annual edition of the "BSE - Fifty Prosperous Hungarian Companies" publication at an event this Wednesday as Hungary’s business community once again came together to celebrate the most inspiring mid-sized companies. At the anniversary event, Tibor Tóth, CEO of the Budapest Stock Exchange, proudly presented the latest edition, […]
