Agricultural machinery manufacturer Optigép Ltd., based in Békés, SE Hungary, has implemented a capacity expansion project worth more than HUF half a billion, the company's managing director János Patkós told MTI. According to the managing director, the total cost of the investment was HUF 634.25 million, for which HUF 261.15 million in European Union support […]
As Hungarian shoppers tighten their belts to stave off the impact of incessantly increasing prices, retailers are also feeling the pinch. Spar Hungary, one of the country’s leading supermarket chains, is taking small, adaptive steps to shield their business and help consumers. Hungary is experiencing the biggest increases in food costs in the European Union. […]
Duna House Group`s revenue grew by 89% to HUF 8.9 billion and EBITDA tripled to HUF 1.6 billion in Q4 2022 compared to the previous year. For the full year 2022, consolidated revenue doubled to HUF 30.3 billion and EBITDA jumped by 120% to HUF 4.4 billion, the company reported on the website of the […]
With an investment of HUF 20 billion, Lipóti Tóth & Társai Ltd. has built Hungary's largest bread, pastry and confectionery production plant in Hatvan, east of Budapest. The development will create 260 new jobs. The Hungarian-owned family business, which employs 70 subcontractors and has around 350 outlets, is the only bakery company to sell its […]
The Hungarian pharmaceutical company Gedeon Richter Plc. presented its results for the year 2022 this Tuesday. The report caused a price drop on the stock market, as it turned out that the always massively profitable company turned loss-making in the last quarter of the year (due to the special tax and the exchange rate change). […]
Companies in many countries around the world, including Hungary, are threatened by a significant proportion of employees quitting their jobs, according to a Deloitte survey, the findings of which were published in a statement on Monday. The consultancy firm pointed out that in Hungary, the situation is similar to international trends, with 57% of domestic […]
The earnings expectations and investment intentions of micro, small and medium-sized enterprises in Hungary improved slightly in November last year compared to the previous quarter, while their sales forecasts stagnated, according to the latest survey of the K&H SME Confidence Index. According to a K&H statement sent to MTI on Monday, the survey summarizing expectations […]
ADVANTAGE AUSTRIA is the Austrian Federal Economic Chamber's external trade agency in charge of trade development and Austria's largest provider of foreign trade services. The new head of the organization’s office in the Hungarian capital, Philipp Schramel tells Diplomacy&Trade about the tasks performed – and services provided – by the Budapest office. “We have three […]
Bácska-Logistik of Baja, S Hungary, has won a grant of almost HUF 300 million for the construction of a new gas station and a self-service restaurant exclusively for trucks. The company received a grant of HUF 290.5 million from the Széchenyi 2020 program for the investment, which cost a total of HUF 437.8 million, with […]
Kayakfirst Ltd., a manufacturer of sports equipment for the indoor practice of the sport of kayak canoeing, has expanded its capacity in the southeastern Hungarian city of Szeged with a grant from the European Union. József Weimper, who founded the company and is an active kayaker himself, said at the Friday event to present the […]
KOSTAL Group, a German family-owned company, opened its new sustainable flagship office in the Hungarian capital, bringing a new way of working into the KOSTAL Family, the Hungarian Investment Promotion Agency (HIPA) reports. The company's EUR three million training program was supported by the Hungarian state with EUR 1.56 million through HIPA. The new business […]
As result of the negative economic effects also in connection with construction industry and shrinking markets the building insulation materials firm Masterplast's sales decreased by 17% in Q4 compared to the base period, the company has reported on the website of the Budapest Stock Exchange. Despite that, during base quarter, Masterplast with strategic inventory had […]
Qatar Airways, the World’s Best Airline is now the Global Partner and Official Airline of Formula One (F1), the pinnacle of motorsport and the world’s most technologically-advanced racing series. Qatar Airways and F1 will be partners through the 2027 season, bringing thrills and exciting speeds to fans globally, the airline has announced. In addition to […]
Founded in 2008, ODD Consulting Ltd. has expanded its team on the third floor of the "A" category CityZen office building in Budapest, which has an excellent BREEAM rating, so the building on Váci Road has reached 100% occupancy, according to a statement by ConvergenCE investors, the owner of the office building. ODD Consulting has […]
In 2022, with a rental revenue of EUR 15.54 million, the Budapest industrial park Graphisoft Park achieved a pro forma net result of EUR 6.02 million, which is more than EUR 400,000 higher than the forecast published last November and 24% higher than our previous year's result. According to the company’s quarterly report published on […]
