In the first quarter of 2021, the real estate business Duna House Group has significantly improved its profitability, while its EBITDA (earnings before interest, taxes, depreciation, and amortization) to sales ratio increased to 17%, while its clean core EBITDA reached HUF 471 million, which is 27% higher than in Q1 2020. A report on the […]
Despite the adverse impact of the third wave of the coronavirus pandemic, both the distribution and retail and services business units of the listed automotive company AutiWallis demonstrated significant growth in the first quarter of 2021. The company's management report says the growth surpassing the targets set in the strategy published in 2019 can be […]
The popularity of cycling has been further boosted by the coronavirus epidemic, while the shortage of spare parts is expected to curb bicycle production in Hungary this year, Róbert Sipiczki, President of the Hungarian Cycle Industry and Trade Association, told the Hungarian state news agency MTI. In 2020, 390,000 bicycles were produced in Hungary, the […]
The Hungarian pharmaceutical Gedeon Richter Plc. has announced that the European Commission has granted approval for the marketing authorization of the novel combined oral contraceptive containing 15 mg estetrol and 3 mg drospirenone. This decision followed a positive opinion from the Committee for Medicinal Products for Human Use (“CHMP”) of the European Medicines Agency (“EMA”) […]
The interim management report of the Hungarian construction materials firm Masterplast Group for the first quarter of 2021 highlights that the company achieved the highest turnover and profit so far in the seasonally weakest first quarter. In a raw material market environment plagued by continuous price increases and supply disruptions, the Group's supply chain performed […]
The Hungarian real estate development firm CORDIA INTERNATIONAL Plc., member of the Futureal Group, has published its Management Report for 2020, a year when the company managed to expand further. 2020 proved to be a challenging year and Cordia International ZRt’s business model was put to the test. On one hand, the VAT increase on […]
Kometa 99 Plc., one of Hungary's largest and most up-to-date pork processing companies, established a by-product processing plant in Kaposvár. Thanks to the project, the processing of slaughterhouse by-products generated during the company's core business will be ensured. The system with an investment of almost HUF 1.4 billion allows processing of up to 15,000 tons […]
Leier Hungária Ltd. is to carry out capacity expanding improvements at three of its Hungarian sites, Hajdúszoboszló, Pécs and Jánosháza. The total value of the investments is more than EUR 18.5 million. The company will create 20 new jobs as a result of the improvements while retaining the existing headcount of 1,021 people. Hungarian taxpayers […]
As the world enters into the second year of the COVID-19 pandemic, the Hungarian pharmaceutical company Gedeon Richter Plc. continues to regularly provide a brief update of its impact on the health and wellbeing of its employees and its operations at large. According to OECD Statistics, global GDP declined by 4.2 % in 2020 due […]
Erste Bank Hungary closed the first quarter of this year with a profit after tax of HUF 15.1 billion. Operating income was 24.1% higher than in the same period of the previous year, while expenses increased by a much lower 6.3 %. Lending growth in both the retail and corporate segments slowed compared to last […]
German carmaker Audi is starting a new investment in its tool factory in Győr, NW Hungary. In the framework of the project of more than EUR 10 million, the current production hall will be extended by 3,800 square meters for exclusive series production, and the logistics hall will increase by 2,500 square meters. While retaining […]
The PRIMUS Private Healthcare Providers Association was established in March 2017 by twelve key members of the domestic private healthcare sector with the intention of promoting the emergence of an ethically functioning, private healthcare sector that fully complies with patient safety requirements. “When PRIMUS was established, our primary objectives were to clean up the sector,” […]
The Dutch dairy company FrieslandCampina invests in capacity expansion and infrastructure modernization in Mátészalka, NE Hungary. The project related to the production of high value-added desserts and fermented milk products is to be realized from more than EUR 14 million, some 20% of which is covered by Hungarian taxpayers. FrieslandCampina is the world's largest cooperative-owned […]
LINDE GÁZ Magyarország Zrt. has announced that it has taken the lead in hydrogen mobility by being the first company in Hungary to install a hydrogen filling station. LINDE inaugurated the country's first hydrogen filling station on April 29, 2021 at the company's Budapest site. The ceremony was attended by Dr. László Palkovics, Minister of […]
Thanks in part to its exceptionally flexible working arrangements, Roche's Budapest-based service center was awarded first place at this year's CEE Business Services Summit & Awards. With 31 employees of different nationalities and a large number of female managers, the office in the Hungarian capital further strengthens its role within the global group, a press […]
