Tag: companies

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ANALYST VIEW - UBS lowers target price for Hungary's OTP

August 7, 2019, 1:03 pm
UBS has on Wednesday lowered its target price for Hungary’s OTP to HUF 15,200 from HUF 15,250 previously. UBS has changed its target price for OTP to HUF 15,250 from 15,200. The new TP is 26.5%... 

Management sells AutoWallis shares

August 6, 2019, 2:53 pm
Board member Andrew John Prestas sold 84,388 AutoWallis C-series ordinary shares in an over the counter deal, the company announced on the Budapest Stock Exchange website late on Monday. The average... 

Hungarian drugmaker Richter projects slight growth in sales this year

August 6, 2019, 1:35 pm
The management of pharmaceutical company Richter expects revenue from pharmaceutical sales to increase 2 to 3% this year and group-level revenues to increase by 5 to 6%, the company said on Tuesday at... 

Vraylar sales in U.S. boost Richter Q2 result

August 6, 2019, 10:48 am
Hungarian pharmaceutical company Richter Gedeon has exceeded market expectations in the second quarter with regard to revenue and gross margin. The company's flagship drug, Vraylar, performed well in the... 

Richter expected to post higher revenue, lower profit in Q2

August 5, 2019, 1:53 pm
Hungarian pharmaeutical company Richter Gedeon will release its earnings report Tuesday morning. According to Portfolio's own consensus, analysts unanimously anticipate increased revenue, while net profit... 

Erste Hungary posts HUF 28.3 bn H1 profit

August 5, 2019, 11:57 am
Erste Bank Hungary had pre-tax profit of HUF 28.3 billion in the first half, up 22% year on year, the bank said at a press conference on Monday. Customers applied for HUF 25 billion in prenatal loans in... 

Hungary's Set Group to buy 20% of itself

August 5, 2019, 9:40 am
Publicly traded Set Group will buy 10 million of its own shares after the company's EGM approved the plan, the company announced late on Friday. At the general meeting, shareholders unanimously approved... 

This is a first in Suzuki's 27-year history in Hungary

August 2, 2019, 4:35 pm
New passenger car registrations were up 27% year on year in Hungary in July 2019. Suzuki played a key role in this strong performance, having sold 3,944 new cars in July. With this, the Hungarian operation... 

Hungary Mol Downstream delivers major upside surprise

August 2, 2019, 9:40 am
Hungarian energy group Mol has published its earnings report for the second quarter of 2019 early on Friday. All of its key earnings exceeded analysts’ expectations, hence a positive share price... 

Hungary's Tungsram to expand into Egypt

August 2, 2019, 8:58 am
Hungarian lighting and tech multinational Tungsram and the Arab Organization for Industrialization (AOI) have signed a Memorandum of Understanding today in Cairo for the joint manufacturing of street lighting... 

Hungary needs to step up foreign bribery offence against companies

August 1, 2019, 2:54 pm
The OECD Working Group on Bribery is concerned that Hungary has not commenced any foreign bribery investigations or prosecutions in over nine years since the Phase 3 evaluation of implementation of the... 

Liberty Global completes sale of operations to Vodafone

August 1, 2019, 12:47 pm
Liberty Global plc has announced that it has completed the sale of its operations in Germany, Hungary, Romania and the Czech Republic to Vodafone Group plc for about 19.0 billion euros (USD 21.3 billion).... 

Croatia hires new consultant on buyback of Hungarian Mol's stake in INA

August 1, 2019, 11:22 am
Croatia has signed New York-based investment bank Lazard as the government’s new consultant on the buyback of Hungarian energy group Mol’s stake in oil company INA. Zagreb could go as far as... 

Hungary to sell strategic gas reserve facility

August 1, 2019, 10:34 am
The Hungarian Hydrocarbon Stockpiling Association (MSZKSZ) will acquire 100% of natural gas storage MMBF Zrt., the daily Népszava reported on Thursday. MSZKSZ, currently a minority owner in the company... 

Hungary to nurture Hungarian multinationals

August 1, 2019, 9:19 am
The Hungarian government will provide more than HUF 14 billion in non-refundable subsidies for business development under two new schemes in the Economic Development and Innovation Operative Programme... 

Prenatal baby support is fun, but not the only interesting thing in Hungary

July 31, 2019, 6:22 pm
Erste Group chief executive Andreas Treichl said the ‘Japanisation’ of Europe is a serious problem. Treichl held a press conference on Wednesday on the occasion that Erste released its earnings... 

Wizz Air to pay HUF 250 million compensation to passengers

July 31, 2019, 12:49 pm
Hungary’s competition authority GVH has accepted an undertaking by Wizz Air, the fulfilment of which will ensure a compensation of about half a billion forints for customers that have made use of... 

Generali buys ERGO's Hungarian insurance portfolio

July 31, 2019, 10:42 am
Generali has purchased the entire insurance portfolio of ERGO's Hungarian insurance units in a group-level deal that also encompasses the Slovakian market, Generali said in a statement on Wednesday. ... 

Landslide in healthcare might patch up rift on Hungary's insurance market

July 31, 2019, 10:36 am
The gap between the life insurance market and the non-life segment in Hungary is expected to widen in the coming years in favour of the latter, Fitch Solutions said in its latest Insurance Report on Hungary... 

Mol extends EUR 555 mn credit facility

July 31, 2019, 8:28 am
Hungarian oil and gas group Mol has extended the maturity of an EUR 555 million revolving credit facility, the company announced on the Budapest Stock Exchange website. The loan agreement was signed on... 
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