The Hungarian business weekly HVG has again compiled the list of the country’s fifty largest companies, which continues to be lead by the oil and gas giant MOL. The combined revenue of the list’s fifty companies has reached its highest level since 2011, despite the government-imposed public utility price cuts and the fall in oil prices on the global market.
The combined revenue of the fifty companies was 6 per cent higher than the same figure for 2013, while the increase was an even more marked 12 per cent in the case of the list’s forty-three companies that are active in areas other than the energy sector. Domestic revenues also grew by over 4 per cent, although this increase is largely down to a single firm, the power company MVM.
The latter is the only energy sector firm on the list, put together on the basis of last year’s business reports, which was able to increase its revenue, but only because 2014 was the first year the nationalised E.On electricity company increased its income. Similarly to last year, companies producing for export, such as Audi and Mercedes, were the ones able to account for genuine growth, while the highest number of employees were registered by the country’s largest bank OTP (35 796), the Hungarian postal service (33 084) and MOL (27 499).
The ten largest Hungarian companies in 2014 (with their annual revenue in millions of forints and growth or contraction compared to the previous year):
1. MOL Hungarian Oil and Gas plc – energy industry – 4 88 607 – -10
2. Audi Hungaria Motor plc – car manufacturing – 2 336 632 – +34
3. GEE Infrastructure CEE Holding plc – asset management (mechanical engineering) – 1 606 427 – +4
4. MVM Hungarian Electricity Ltd. – asset management (energy sector) – 1 194 828 – +30
5. Mercedes-Benz Manufacturing Hungary plc – car manufacturing – 884 435 – +42
6. Samsung Electronics Hungary plc – electronics – 704 593 – +3
7. Magyar Telekom Telecommunications plc – telecommunications – 626 447 – -2
8. E.On Hungary Energetics plc – asset management (energy sector) – 505 779 – -6
9. Flextronics International Ltd. – electronics – 504 793 – +9
10. Hungarian Suzuki plc – car manufacturing – 484 717 – +4
via index.hu
photo: hlinka.hu