Increasing Exports at 77 Elektronika

Hungarian-owned 77 Elektronika Ltd. a company exporting self-developed medical diagnostic devices to more than 100 countries, increased its foreign market turnover by HUF 24.5 billion last year, the company told the Hungarian news agency MTI.

According to public company data, the firm's net sales revenue was HUF 31.2 billion in 2019 after HUF 30.7 billion in the previous year. The company's profit after tax increased from HUF 4.47 billion in the previous year to HUF 4.53 billion in 2019.

The statement stressed that the company will turn an average of 6-7% of its revenue back into the development of new products and technologies each year.

The sales of 77 Elektronika, which employs over 740 people, including more than 120 development engineers, at its factories in Budapest and Balatonfüred, are accounted for by the sale of urine analysis automation systems based on UriSed technology, which gives the company a significant global market share. Its largest markets are still the European Union, the United States, China, Brazil and the Far East, and there will also be Hungarian laboratories in Russian epidemiological hospitals.

According to the announcement, Sándor Zettwitz, managing owner of 77 Elektronika, said that in the last three months, orders for more than 70 automatic and semi-automatic devices have been received from their Russian partners. A significant proportion of epidemic hospitals set up in the country due to the virus will be equipped with 77 Electronics-based automatic urine testers in the coming months.

He added that a long-term agreement is in sight between 77 Elektronika Ltd. and a market-leading international company, which will enable the sale of hundreds of automatic sediment testing devices in China in the coming years.