Index.hu reports that a company of Chinese owners operating in Hungary is among Europe’s most quickly growing companies. Based on the increase of the turnover between 2011 and 2014 Inc., an American magazine, compiled a list of the 5000 most successful companies of the continent, on which the Setino Hungary Kft. can be found.
Setino Hungary Kft., a wholesaler and online store of children’s clothing, was ranked as the 51st of the continent’s 5000 most successful companies because, in three years’ time (2011-2014), the company, operated by two Chinese entrepreneurs: Zhou Jing Jing and Wang Huan, managed to increase their turnover by 953%.
According to the firm’s report, their turnover was 3.5 billion HUF in 2014, whereas it was ‘only’ 334 million HUF in 2011. Besides, the company’s profit was 278 million HUF last year, which was built up majorly from export.
Yet, Setino Hungary is not the only Hungarian company on the list: the T-Trans Főép Kft., whose turnover grew from 200 million HUF to 3 and then 6 billion HUF within a few years, won the 55th position.
The firm deals with constructions and was supported by public funds, as they have reconstructed buildings of NAV (National Tax and Customs Administrations), MVM (Hungarian Electricity Ltd.) and councils. Furthermore, they have also worked on projects supported by the EU.
Additionally, the General Transport Company Kft. is also on the list, within the best 100. The company is responsible for transportation and operates refrigerator cars. They increased their turnover from 183 million HUF to 1.6 billion HUF by 2014, though, it decreased by 300 million HUF last year.
At the 894th position another company from Hungary can be found: the Duna Aszfalt. Altogether 280 Hungarian firms made it to the list, however, it shall be noted that the compilation was based on application; during the process Inc. did not analyse all the companies of the continent.