Mercedes-Benz Manufacturing Hungary Ltd. achieved sales of nearly EUR 4 billion in 2022, compared to EUR 3.1 billion in the previous year; its profit before tax also increased: from nearly EUR 75 million in 2021 to more than EUR 96 million last year, the company told MTI. According to the report, the significant positive change […]
The European Commission has given its final approval for the acquisition of OMV Slovenija by the Hungarian oil and gas company Mol, putting the Mol Group on track to become the second largest player in the segment in Slovenia. The Mol Group has fulfilled all the conditions for closing the transaction to acquire a 92.25% […]
After the final assembly and testing of digital microsensors, the last step of chip production will be transferred from Sensirion's Swiss parent company to the Debrecen plant, thus the plant will be involved in semiconductor production, said Managing Director of Sensirion Hungary Ltd., László Ábrahám, at a press conference on Thursday. The managing director highlighted […]
Florin Plc., a manufacturer of disinfectants, cleaning agents and cosmetics products, is improving its logistics system and building a new automated warehouse with an investment of HUF 1.6 billion - with support from the European Union. Attila Barta, the company's CEO, said at the groundbreaking ceremony on Wednesday that half of the costs of the […]
Steel structure manufacturer Vilex '94 Ltd. has invested almost HUF 300 million in improving its technology, the company told MTI. The company received HUF 209 million in conditionally non-refundable support from the Széchenyi Plan Plus program for the development, which cost HUF 298.9 million. As the main part of the project, a separate 1,510-square-meter locksmith's […]
With the help of EU funding, Avarem Ltd. has acquired a line of machines enabling the recycling of LED-based waste at its site in Mezőkovácsháza, Békés county. Managing director Csaba Nyist told MTI that the company won HUF 53.86 million from the Economic Development and Innovation Operational Program (Ginop) Plus, with a 70% subsidy intensity. […]
ANY Security Printing Company Plc. has released its 2023 Q1 results on the website of the Budapest Stock Exchange. It shows that net sales of the company for 2023 amounted to HUF 11.2 billion which is higher by HUF 0.4 billion (4%) than in the previous year. Changes in case of strategic product segments were […]
The Joint Venture Association held its 2022 Annual General Meeting in Budapest, closing the year 2022, with the election of a new Board, a new Supervisory Board, two new Ethics Committee members and the re-election of several former members. It was on January 1, 2022 that Tímea Buday Kollárik took over the management of the […]
April brought a temporary downturn in the domestic real estate market in Hungary, with a thousand fewer transactions compared to the previous month, according to the latest barometer report published by the real estate agency Duna House. Based on Duna House's own data, the number of sales nationwide was estimated at 6,787, which is still […]
ITL Group proudly presents the most anticipated annual event of 2023, the Budapest Business Party (BBP23, http://rsvp.budapestbusinessparty.com/). Taking place on June 2nd, 2023, from 6:00 pm to 2:00 am aboard the luxurious "Spoon the Boat," this year's event promises to be bigger, better, and bolder than ever before. Budapest Business Party, organized by ITL Group (www.itlgroup.hu) and powered by Tecnocasa Group (www.tecnocasagroup.hu), is […]
Quarterly operating profit growth was 10.1% without FX effects driven by favorable changes in the product portfolio mix and a relatively slower increase of operating expenses, the pharma company Gedeon Richter reports. In addition, no windfall tax was recorded in 2022 Q1. Excluding FX effects Richter’s gross profit increased by 15.3%, driven by a 17.4% […]
MOL Group delivered USD 714mn Clean CCS EBITDA in Q1 2023 (a 14% decrease compared to Q1 2022), despite regulatory headwinds and decreasing oil and gas prices, the Hungarian oil and gas conglomerate said this Friday morning, announcing its financial results for Q1 2023 on the website of the Budapest Stock Exchange. According to a […]
Up to EUR 50 million will be invested by Magna Metalforming GmbH to set up a new plant in Vecsés, southeast of Budapest, with the aim to produce structural bodywork items. The investment, which enjoys a 20% state support, is set to create 300 new jobs. Canada-based Magna International Inc. is a listed corporation that […]
As a result of the significant decline in the construction market and lower demand, the building insulation materials firm Masterplasts's revenue decreased by 27% compared to base in the first quarter. According to the company report published on the website of the Budapest Stock Exchange, in the sharply competitive market, Materplast was only able sell […]
Chinese battery cell manufacturer EVE Power will build a new production plant in Debrecen by investing more than EUR one billion of which a small portion, some EUR 35 million, will be paid for by Hungarian taxpayers through a government decision. The first such European facility of the company will supply BMW Group’s neighbouring iFactory […]
