The latest investment of MERKBAU Plc. was inaugurated this Friday: a joinery and carpentry plant built with a budget of more than HUF 2.5 billion. For the investment, the more than 30-year-old company, which is based in Kiskunhalas, S Hungary, received government support of nearly HUF 1 billion. The company's latest investment, inaugurated in a […]
The real estate Duna House Group achieved record volumes in 2022 by the Italian expansion. The dramatic decline in volumes in Poland and Hungary in 2022 was halted by the end of the first quarter of 2023, with already a quarterly increase in Poland and a turnaround in Hungary in March 2023. The Group says […]
The Hungarian startup ecosystem has had its strongest year yet, with record fundraising and unprecedented optimism but the next one is sure to be tougher, the financial news site PIAC&PROFIT reports. One of the key lessons from the Hungarian Startup Reports of recent years is that the inadequate regulatory environment is a major pain point […]
The packaging technology machinery firm Somapak Csomagolástechnikai Gépgyártó Kft., based in Pécs, S Hungary, has built a production hall, acquired equipment and implemented IT developments with an investment of nearly HUF quarter of a billion. The Hungarian-owned company, which has been operating for more than 30 years and currently employs 54 people, manufactures and exports […]
UBM Group, Hungary’s leading feed producer, has announced the acquisition of 50% of the pig farming firm ‘Mangal Ilona Sertéshizlalda’ Ltd. The transaction is expected to close in July 2023, the purchase price will be paid by UBM from its own resources, without any loans, the amount was not disclosed. The founder, András Moldovan, will […]
The AutoWallis Group closed another record year in 2022 despite another external environment full of challenges last year. The automotive company registered on the Hungarian stock exchange achieved revenue of HUF 270 billion with an EBITDA of HUF 14.5 billion and earnings per share surpassing HUF 19. The growth was primarily organic and exceeded even […]
95% of small and medium-sized enterprises have external sources of finance, 67% of which are bank loans, the Macronóm Institute said, according to its latest corporate research. It was highlighted that 52% of companies received an advance from the Hungarian Development Bank or the EU, 37% received funds from the Growth Loan Program and 35% […]
The seasonally adjusted Purchasing Managers' Index (PMI) for March fell to 55.3 points from 56.3 points in February, with respondents reporting slower growth than in the previous month, the Hungarian Logistics, Purchasing and Inventory Management Association (MLBKT) said on Monday. Compared with the previous March figures, this year's figure is higher than the long-term average […]
Hungary's leading manufacturer of hygiene paper products, Vajda-Papír, has pledged to reduce its water consumption by 20% by 2030, increase the use of renewable energy by 50% and become carbon neutral by 2050. In a statement sent to MTI, the company said that over the past ten years, it has invested around HUF 40 billion […]
Industrial producer prices rose by 29.0% on average in February 2023 compared to one year earlier. Domestic output prices were up by 56.4% and non-domestic output prices by 15.8%. The faster growth in domestic output prices was due to the proportion of the energy industry, where a significant price increase occurred, being much larger in […]
Pensum Group Plc., a human resources services provider, saw its revenue rise by 40% to HUF 3.7 billion in 2022, while its profit after tax was HUF 33 million, a 57% year-on-year decline, the company told MTI on Thursday. According to the statement, revenue was also boosted by price increases implemented by the company as […]
UBM Group, the largest animal feed manufacturer in Hungary, closed the first six months of the 2022/23 financial year with the best half-year in its nearly three-decade history. UBM, the only agro-industrial company listed on the Budapest Stock Exchange (BSE), generated sales revenue of HUF 122.67 billion and EBITDA of HUF 6.00 billion in the […]
The Hungarian family-owned Caadex Ltd. in Mindszentgodisa, NE of Pécs in southern Hungary, has implemented a development worth almost HUF 800 million with the support of the European Union, the company has informed MTI. The company, which manufactures – and trades in – tin and steel products, has production halls in Mindszentgodisa and nearby Komló. […]
Visa is launching its global ‘She's Next’ program to support women-led businesses in Hungary, Bence Sármay, regional manager of the digital payments service provider, announced in Budapest on Tuesday. Five Hungarian women entrepreneurs will each receive a HUF 2 million grant and one year of mentoring, Bence Sármay said. He added that applications can be […]
Nearly three quarters of firms with 20 or more employees expect to raise prices in the near future. More than a third of the companies planning to raise prices expect a 6-10% increase, slightly more than a quarter of them expect an 11-15% increase, and a fifth of them expect a 1-5% increase. Presenting the […]
