Forbes Hungary has published its 2020 list of the 100 most valuable 100% Hungarian owned companies. MPF Holding took the No. 1 spot.
Forbes has reviewed more than 400 companies in order to create the list. Forbes notes that Hungarian companies have fallen in value in 2020. The main reasons for this are seen to be the government decree making it harder for foreign companies to acquire stakes in Hungarian companies and the coronavirus crisis.
Only two companies have grown over the last year. MPF holding grew 22%, while the Mészáros-group grew 112%. Mészáros group has received nearly HUF 200 billion (EUR 560 million) from government tenders over the past three years. Lőrinc Mészáros, its government-ally owner, is now Hungary’s third-richest person according to Forbes.
György Gattyán’s Docler Holding has increased its revenues by over 10%, but due to a fine of EUR 80 million by the Hungarian tax authority, their profits were negative.
This year, Duna Csoport and New Land Media got the most money from government tenders by far, to the tune of HUF 173 (EUR 490 million) billion and HUF 128 billion (EUR 360 million), respectively.
The ten largest companies and their estimated values are as follows:
- MPF Holding – HUF 202.7 billion (EUR 571 million)
- Docler Holding – HUF 175 billion (EUR 493 million)
- Videoton Holding – HUF 147.3 billion (EUR 415 million)
- Gránit Pólus group – HUF 128.6 billion (EUR 362 million)
- Mészáros group– HUF 116.9 billion (EUR 329 million)
- Bonafarm group – HUF 105.6 billion (EUR 297 million)
- Dayton-Invest Kft. – HUF 100.3 billion (EUR 283 million)
- Duna group – HUF 97.2 billion (EUR 274 million)
- Jász-Plasztik Kft. – HUF 83.6 billion (EUR 236 million)
- 77 Elektronika group – HUF 62.4 billion (EUR 176 million)
In the featured photo: Lőrinc Mészáros. Photo by Zsolt Czeglédi/MTI