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 […]
Roche expands its Budapest business solutions center portfolio with strategic HR services. The company opens 150 new positions in March, further growth of around 100 roles expected for later in the year. By bringing complex People & Culture (formerly known as Human Resources) positions to Hungary, Roche expands its services & solutions center in Budapest […]
The sales of hybrid and electric vehicles fell sharply in Hungary in January, the business news site hvg.hu writes. While in December 2020, the number of environmentally friendly new cars increased by 1,443 vehicles, in January the green license plate granted to such vehicles was installed on 'only' 819 cars in Hungary, the news site […]
The biggest office developer in Europe sold four buildings for over EUR 265 million, leased over 135,000 sqm, and completed seven buildings in Poland, the Czech Republic, Romania and Hungary. A statement by the company says Skanska retains its strong position on the Central Eastern European real estate market and confirms its business efficiency despite […]
With a development cost of EUR 21 million, Nolato Hungary Ltd. that manufactures hygienic and medical products, is to increase its production and storage area in this country by more than 150%. The Hungarian government is to cover about one fifth of the costs of development. While retaining existing jobs, the complex project that also […]
Balluff-Elektronika Ltd.. specialising in the production of electronic components is to launch a new research and development project at its site in Veszprém, midwestern Hungary, targeting the major regeneration of sensors and network devices for industrial automation. The investment of almost EUR 5.8 million creates new jobs for 30 highly qualified employees, by which the […]
