Emil Frey Group Hungary, the Hungarian subsidiary of Swiss-based Emil Frey AG, began operating in Budapest in 1993. Its Country Director, György Balkányi and Emil Frey Hungary Retail Managing Director, Andrea Pethő outline to Diplomacy&Trade how the company has developed over more than three decades, from initially dealing in Toyota retail sales to now importing […]
MOL Group announced its financial results for Q2 and H1 2025 on the website of the Budapest Stock Exchange. In the second quarter of the year, MOL Group delivered USD 236 mn profit before tax, marking a 56% decrease year-on-year. According to the statement, slowing regional macroeconomic environment impacted performance adversely in Q2, however, this […]
Compared to the previous year, Flextronics' sales revenue decreased by 16.2%. At the same time, the added value has remained essentially unchanged, the company says in its annual report published this Thursday. The primary reason for the decline was the termination of a partnership agreement with a significant share of materials in the industrial business, […]
Group revenue remained broadly stable year-on-year in Q2 2025, as a continued increase in service revenues driven by sustained demand for data and connectivity was offset by lower System Integration and IT revenues, declines in equipment sales and the impact of ViDaNet fixed-line subsidiary deconsolidation, the Hungarian telecom company announced on the website of the […]
Gedeon Richter Plc.'s performance in the first half of the year was in line with its annual plans, so it has not changed its expectations for this year, CEO Gábor Orbán said at a press conference following the flash report on Wednesday in Budapest. He said that, excluding exchange rate effects, they expect growth of […]
Nestlé has been a key player in the global food industry for over 150 years and has actively shaped economic and social processes in Hungary for more than three decades. In an interview with Diplomacy&Trade, the CEO of Nestlé Hungary, Péter Noszek discusses the importance of the Szerencs solar park, net-zero emission targets, the expansion […]
Erste Bank Hungary Plc. closed the first half of the year with operating income of HUF 187.5 billion and after-tax profit of HUF 69.2 billion, Chairman and CEO Radován Jelasity said at the company's press conference on Wednesday. Year-on-year, operating income increased by 6%, while after-tax profit decreased by 7%. Operating profit exceeded HUF 123.5 […]
The Hungarian pharma company Gedeon Richter Plc.'s consolidated sales revenue for the first half of the year was HUF 465.5 billion, 10.9% higher than a year earlier, the company announced on the Budapest Stock Exchange (BÉT) website on Wednesday. Net profit for the first half of 2025 was HUF 120 billion, which is 13% lower […]
In the second quarter of this year, OTP Bank exceeded expectations, achieving a consolidated adjusted after-tax profit of HUF 330.015 billion, which is 23% higher than in the same period last year, according to information published on the Budapest Stock Exchange (BÉT) website early Tuesday morning. The consolidated adjusted after-tax profit for the second quarter […]
This Monday, Shopper Park Plus Plc. (SPP), which owns 14 grocery-anchored retail parks in Hungary through its subsidiary, with Tesco as the leading anchor tenant, signed a letter of intent with Dome Facility Services Group Ltd. to extend the cooperation regarding the technical operation of retail parks. Dome Facility Services Group Ltd. has been responsible […]
Givaudan, a global leader in flavors and fragrances, has significantly increased the production capacity at its Makó manufacturing site in southeast Hungary following HUF billions in investments. With the successful transfer of specialized technology from its Swiss facility, the Makó plant has emerged as a regional hub for special reaction-based technologies. “Our company growth strategy […]
Switzerland-based pharmaceutical company Sandoz came to be an independent company in October 2023. For 20 years prior to that, it was the generic businesses division of Novartis. Now, Sandoz is a global leader in generic pharmaceuticals and biosimilars with the focus on bringing high quality medicines early to patients at affordable cost. The local subsidiary, […]
Stadler Trains Hungary Ltd., a subsidiary of Stadler Rail Group, the Swiss manufacturer of railway rolling stock, celebrates its 20th anniversary this year as it was established on December 1, 2005, after winning the public procurement procedure for the purchase of 30+30 suburban trains from MÁV Hungarian Railways. As Chairman Dr. Róbert Homolya describes to […]
US-based GE Vernova is launching a major investment at its Hungarian plant, aimed at expanding manufacturing capacity, enhancing technology and improving the energy consumption efficiency, the Hungarian Investment Promotion Agency (HIPA) reports. The project costing EUR 22.5 million, almost 30% of which is covered by Hungarian taxpayers through a government desision, will see the modernization […]
SAP Hungary and the Faculty of Informatics of the Budapest university ELTE signed a cooperation agreement to develop modern business technology platforms that combine university and corporate knowledge and can be configured to meet specific needs. SAP is one of the world's leading companies in business applications, data management, and artificial intelligence-based solutions, combining more […]
