The Austrian IT company Plaut has acquired a majority stake in the Hungarian firm Netlife Consulting, which specializes in SAP consulting and continues to operate under the name msg Plaut Hungary Ltd., the Austrian company told the Hungarian state news agency MTI. According to the information, with the acquisition, the company aims to reach a […]
The 250,000th Audi Q3 model rolled down from the production line of the Audi plant in Győr. The anniversary car was a tango red Audi Q3 Sportback with a plug-in hybrid powertrain, which will soon head for Germany, a press release from Audi Hungaria says. Production of the Q3 model began in 2018 in Győr, […]
The Park Atrium office building, overlooking Budapest's City Park, welcomes 2021 with a new identity, rearranged and optimized functionalities, and fresh interior design ideas for its ground floor lobby, main reception, conference center and community garden. A press release by the Landlord – a property fund based in Luxemburg and managed by REInvest Asset Management […]
Germany is Hungary’s most important economic partner, the Hungarian economy highly relies on the ‘well-being’ of the German one. The CEO of the Hungarian Investment Promotion Agency (HIPA), Róbert Ésik explains to Diplomacy&Trade his agency’s role in attracting and maintaining German investment in this country. “From the foreign direct investment (FDI) point of view, Germany […]
The recently established Stellantis Group, as the fourth largest automotive conglomerate in the world, is bringing the manufacturing of the new generation 1.6-liter petrol engines to Szentgotthárd, SW Hungary. The engine, which is designed for hybrid cars, will be produced at a yearly output of 200 thousand items, in addition to the production of 350,000 […]
Budapest's office buildings skyline will be enriched with a futureproof complex designed with lots of attention to environmental challenges and to the needs of the people working inside, builder Skanska projects. The multinational construction and development company Skanska's latest investment in Hungary, H2Offices is one of the company's most impressive projects in Budapest. The new […]
Leader in aviation informatics, Lufthansa Systems opens new chapter in strategic partnership and looks beyond hard-hit traditional markets to thrive. Airlines had to quickly adapt to new demand behavior and change their steering processes along with their IT solutions, following the adverse effects of the pandemic. There was a sudden need of urgent repatriation flights […]
Hungary’s largest telecommunications service provider Magyar Telekom reported its consolidated financial results for the fourth quarter and full year of 2020, in accordance with International Financial Reporting Standards (IFRS) as endorsed by the EU. Total revenues increased by 3.6% year-on-year to HUF 188.9 billion in Q4 2020 thanks to increases in telecommunication service revenues in […]
In its 2020 report to the Budapest Stock Exchange, the Hungarian pharmaceutical company Gedeon Richter Plc. states that the company managed to service its customers on time and in full also into the last quarter of the reported year despite a sharp increase in COVID-19 case numbers in its countries of operation. Additional protective measures […]
Hungarian integrated architecture and building services provider DVM group started the construction works of Drechsler Palace in January 2021 at 25 Andrássy Avenue, Budapest. The building is planned to be unveiled as a hotel in 2022. The monument building also known as the one once housing the Pension Fund of the Hungarian State Railways and […]
Tamási Hús Ltd., Hungary's top bacon producer, is expanding its production capacity in Tamási, W Hungary, and improving its service infrastructure through a cumulative investment of EUR 42.6 million. The project entails the building of a new plant and warehouse, in addition to the installation of a set of new bacon slicers and roasters, a […]
The Hungarian automotive firm Rába Plc. closed the 2020 business year with a consolidated, group-level sales revenue of HUF 38.7 billion, the company reports. The report highlights that thanks to the measures introduced in the spring, the management successfully handled the crisis and, exceeding the set goal, restored profitable operations on an annual basis, along […]
MOL Group has announced its financial results for 2020 that shows operating earnings without one-off special effects and adjusted by the current cost of supply decreasing but still a bit above USD two billion. Despite the much challenging pandemic and economic crisis, MOL Group generated USD 464 million Clean CCS EBITDA in the fourth quarter, […]
In part, it was the outstanding performance of the pet food business that determined the global organic growth of the Nestlé group of companies in 2020. In addition, the 3.6% year-on-year growth was due to the U.S. markets and Nestlé’s health science business. The trading operating profit margin increased by 210 basis points year-on-year to […]
Vajda Papír has put into operation the modern production lines that will be used to make one million medical masks a day in Dunaföldvár, south of Budapest. The Hungarian government contributed HUF 1.1 billion (close to 80%) to the HUF 1.4 billion investment carried out within the framework of the Health Industry Support Program. The […]
