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, […]
Hungary's largest car importer, Porsche Hungaria on Monday laid the cornerstone of a EUR 20 million expansion of its parts and logistics base Parts Center in Budaörs, just west of Budapest. The expansion is scheduled to be completed by 2027. It will involve construction of a 11,500 square-meter warehouse, increasing warehousing capacity of the base […]
Vajda-Papír Group, Hungary's leading manufacturer of hygiene paper, is acquiring Sofidel Hungary's household paper business, the group announced on the Budapest Stock Exchange (BSE) website on Monday. Vajda-Papír announced that on November 7, 2025, it signed a purchase agreement with Sofidel Hungary Ltd. to acquire Sofidel's Hungarian household paper processing business, subject to certain conditions […]
Magna Body & Chassis Ltd., the Hungarian subsidiary of Magna International Inc. — a leading global player in mobility technologies — officially launched production at its new, state-of-the-art facility in Vecsés on November 7, 2025. The plant will initially create 240 new jobs, later increasing that number to 300 and boost the local economic activity, […]
Hungarian energy services provider ALTEO Plc. has celebrated its 15th anniversary on the Budapest Stock Exchange (BSE). The company has a portfolio covering almost the entire value chain of the electricity industry and is also a major player in the domestic circular economy. ALTEO's operations are characterized by a commitment to sustainability and value creation, […]
Third-quarter net income of Hungarian oil and gas company MOL fell 15% year-on-year to HUF 94.8 billion as revenue dropped, an earnings report released ahead of the opening bell on Friday shows. Net sales declined 8% to HUF 2,268 billion. Operating profit slipped 7% to HUF 163.0 billion. MOL noted that EBITDA, at current cost […]
Third-quarter after-tax profit of OTP Bank, Hungary's biggest commercial lender, rose 4% year-on-year to HUF 330.5 billion, an earnings report published ahead of the opening bell on Friday shows. Net interest income increased 10% to HUF 489.0 billion. Net revenue from commissions and fees climbed 11% to HUF 152.7 billion. For the period Q1-Q3, after-tax […]
The global financial technology company Revolut has officially opened a bank branch in Hungary, the news site telex.hu reports. Revolut Bank UAB has been listed in the Hungarian National Bank's institution finder as a cross-border credit provider entity since February 14, 2022 (after receiving an EU banking license in Lithuania). Now, however, Revolut Bank UAB's […]
