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 […]

The management of the freight forwarding and logistics company Waberer's International may propose a dividend payment of HUF 100 per share, after the company closed last year with its highest EBIT (earnings before interest and tax) since its listing on the stock exchange, at EUR 33.3 million (almost HUF 13 billion), according to an issuer […]

Mapei Ltd. expects a more than 6% increase in sales this year, Béla Markovich, the managing director of the Hungarian company, which manufactures and distributes building materials, has said at a press conference in Budapest. He has also discussed the results of a survey by the company about finding construction professionals in Hungary. He added […]

Large companies do not expect sales and profit growth this year. Companies have been expecting declining profits for more than a year, which has now reached a negative record, and the expected change in sales is also negative, according to the K&H large company growth index sent to MTI on Tuesday. On average, companies expect […]

Family-owned Civita Group Plc. has inaugurated a plant for the production of gluten-free pasta, edible plates and cups, owned by its subsidiary, Agri-Corn Ltd., in Monostorpályi, NE Hungary. The company is one of Europe's largest manufacturers of maize products, processing 40,000 tons of GMO-free maize per year and providing 200 families with stable employment for […]

The Hungarian energy company ALTEO has acquired shares embodying 100% of the share capital of the energetics company Energikum. Energikum holds the stake embodying 99% of the issued capital of Energigas Ltd., which owns a biogas plant in Nagykőrös, SE of Budapest. ALTEO is currently the 1% minority shareholder of Energigas. ALTEO also operates the […]

The groundbreaking ceremony this Friday marked the latest phase of Schneider Electric’s EUR 40 million investment in Dunavecse, central Hungary, as a result of which a smart factory will be set up to manufacture medium voltage electrical switchgears. The project will boost supply to state-of-the-art energy management and industry automation solutions, thus can contribute to […]

Sales revenue by Audi Hungaria Plc., a member of the Audi group and the central engine supplier to the Audi and Volkswagen groups, increased by EUR 719 million (HUF 284.4 billion) last year, and its profit after tax by EUR 11 million (HUF 4.352 billion), the company said at its annual press conference at its […]

A consortium led by Sole-Mizo Plc. is developing milk protein-based food and nutritional ingredients for special purposes with EU non-reimbursable funding of HUF 996.44 million. In addition to Sole-Mizo, the consortium leader, Medifood Hungary Innovation Ltd. and the Hungarian Agricultural and Life Sciences University (MATE) are also participating in the project. The recently started research […]