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 […]
Hungary’s leading innovative pharmaceutical company, Novartis has been present in this country since the early nineties. The head of the local subsidiary, Novartis Hungary Ltd., Colette Matz tells Diplomacy&Trade about the company’s activities on the Hungarian market with special regard to the company’s contribution to Hungarian healthcare. The General Manager states that Novartis is proud […]
STOBAG Group, a leading Swiss manufacturer of sun protection systems, is build-ing its largest production facility in Hungary through a capacity expansion investment supported by the Hungarian Investment Promotion Agency (HIPA). As a result of the EUR 21.5 million development, the company’s factory in Sülysáp, southeast of Budapest – in operation for ten years – […]
Hungary’s Bonafarm Group signed an agreement to acquire Friesland Romania S.A., the Romanian subsidiary of Dutch multinational dairy company Royal FrieslandCampina, the company told MTI on Thursday. The transaction is expected to be completed at the end of the year, following competition law and regulatory approvals. No information was provided on the expected value of […]
The most important task of the Hungarian Investment Promotion Agency (HIPA) is to provide professional assistance to foreign and Hungarian companies wishing to invest in Hungary. In 2024, with the help of HIPA, foreign investors decided to launch 77 projects in Hungary, which is estimated to bring more than EUR 10 billion in fresh capital […]
Building on more than 150 years of industrial tradition, Hungarian-owned Ganz is launching a major capacity expansion at its Tápiószele plant. Supported by the government’s '150 New Factories Program',the EUR 50.4 million investment will not only double the company’s production volume, but also create 300 new jobs in the region. The development further strengthens Ganz’s […]
In compliance with its obligation of extraordinary disclosure of information according to the relevant regulations, the Hungarian energy services provider ALTEO has announced on the website of the Budapest Stock Exchange that the closing preconditions of the sale and purchase contract for the acquisition of ÉLTEX Trade and Shipment Ltd., signed on December 20, 2024 […]
Plant modernization, increased efficiency, the full utilization of existing capacity, flexible adaptation to future demands and the achievement of carbon-neutral operations are at the center of the plant developments that were inaugurated at Magyar Suzuki Plc.’s Esztergom site. The latest project of the Japanese company, which regularly reinvests in Hungary, is valued at nearly EUR […]
