Based on the outlook of the Hungarian new car market, Ádám Rozgonyi, brand director of importer Porsche Hungaria SEAT, expects stagnation and a repeat of the 2023 volume in the sales of the SEAT and CUPRA brands this year. Last year, 2,761 units of the Volkswagen group's two brands were sold in Hungary, an increase […]
Gedeon Richter Plc. has announced on the website of the Budapest Stock Exchange that it has signed an agreement with HELM AG, a Germany-based stock corporation (“HELM”) to buy 50% stake in Richter-Helm BioTec GmbH & Co. KG (“RHT”); and 30% stake in Richter-Helm BioLogics GmbH & Co. KG. (“RHB”) to become 100% owner of […]
The energy company ALTEO achieved outstanding results in 2023, as a proof its strategy was updated at the beginning of 2022 and its implementation are successful and effective, where environmental and social sustainability plays a key role in addition to business considerations, the company has announced on the website of the Budapest Stock Exchange. The […]
Colette Matz takes over from Matt Zeller as Country President of Novartis Hungary in March 2024. The new leader brings more than 20 years of experience in the pharmaceutical industry. Most recently, she was Head of the Neuroscience Therapeutic Area at the Swiss company's Italian affiliate, the company has announced. Colette Matz has had a […]
Erste Group achieved an operating profit of EUR 5.5 billion in 2023, up 38% year-on-year, according to a preliminary profit outlook, the company said on its website on Thursday. The cost/income ratio improved to 47.6% from 53.4% as operating income growth outpaced operating expenses. Loans rose 2.8% year-on-year from EUR 202.1 billion to EUR 207.8 […]
Suzuki has inaugurated its own solar park at its Esztergom plant, the nearly HUF 800 million investment will cover 6-7% of the company's annual energy needs, the company's communications manager, Zsuzsanna Bonnár-Csonka told MTI on Monday. She highlighted that the solar panels installed on the roofs of the various units of the factory are an […]
The Board of Directors of the Hungarian pharmaceutical company Gedeon Richter Plc. has informed the company’s shareholders in an extraordinary announcement that Erik Bogsch resigned from his position as Chairman of the Board with effect from March 1, 2024, while remaining a member of the Board. The Board of Directors accepted the resignation at its […]
AutoWallis Distribution, a subsidiary of the AutoWallis Group, will be the wholesale distributor of the Opel brand in Hungary, Bosnia and Herzegovina, Croatia and Slovenia for another five years, at least until the end of 2028, the AutoWallis Group told MTI on Thursday. Gábor Ormosy, CEO of AutoWallis Plc, said in a statement that the […]
According to the fourth quarterly survey of the K&H SME Confidence Index 2023, which indicates the expectations of micro, small and medium-sized enterprises in Hungary for the upcoming period, the turnover of companies may again rise above the annual inflation rate this year, K&H told MTI on Friday. The bank has been continuously compiling the […]
Swiss-owned Nestlé implements yet another investment in its pet food plant in Bük. As a result of the development in value of HUF 55 billion, 130 new jobs are expected to be created, whereas the output to go up by over 50,000 tons a year. The project marks the last phase of a series of […]
54% of CEOs in Hungary are confident that the global economy will grow faster in 2024, while 60% are confident that the domestic economy will improve, after last year's record pessimistic year, according to the 13th edition of PwC's CEO survey in Hungary. The survey of 297 Hungarian CEOs found that 22-22% expect a slowdown […]
In an effort to gear up for the transition, leading OEM Stellantis invests EUR 103 million to introduce production of electric drive modules (EDMs) at its plant in Szentgotthárd, Hungary. The investment is part of the company’s Dare Forward 2030 strategic plan that outlines ambitious electrification objectives. Stellantis’ preparations for the transition are going full […]
Europtec Ltd., a company with a Swiss background, is building its fourth production hall in Zalaegerszeg, SW Hungary, with an investment of about EUR 5 million, the company's managing director, Gábor Belső said at a press conference in the Zala county seat on Monday. He recalled that the company, which manufactures precision plastic components, has […]
LIBERTY Dunaújváros, Hungary's largest steel producer, which was acquired by LIBERTY Steel Group in October 2023, has restarted production, according to a company press release. The company is continuously expanding production in order to serve its customers in Hungary and Europe at the highest possible level as soon as possible, the European President of LIBERTY […]
The 4 millionth car was produced at Suzuki's Esztergom plant, northwest of Budapest, on Thursday, with the company planning to produce 130,000 cars this year, following 160,000 in 2023, Magyar Suzuki Plc. told MTI. Deputy CEO Róbert Krisztián recalled to journalists at the factory that production at the Japanese carmaker's Hungarian plant started in 1992. […]
