List of the 50 richest Hungarian companies

Szeretlekmagyarorszag.hu reports that according to the list ranking the 50 richest Hungarian companies, made by HVG, it turned out that the MOL is not on the very top anymore. After 15 years, the oil company was defeated, the subsidiary of General Electric became the number one.

The magazine HVG has been compiling a list lining up the richest Hungarian firms since 2000, and the name of MOL was found on the top of the list in all past years. For 15 years the turnover of MOL was 3-5 times more than the now-winning Hungarian subsidiary of General Electric.

However, this time it managed to reach the very top and claim the title of the richest Hungarian company, as the turnover of the General Electric’s Hungarian subsidiary was 10% more than the turnover of MOL was. The reasons behind the decrease of MOL’s turnover include the – nearly – halving of the Brent petroleum bbl prices in a single year’s time, but MOL’s turnover only fell by 14%.

Whereas, the average price of the 95 type petroleum sold at petrol stations in Hungary dropped only by 12% despite the global downturn: last year it cost 408 HUF per litre, while this time drivers wanting to fill up their cars’ gas tank had to pay 358 HUF per litre.

The list also shows that the biggest increases, compared to the previous year, were made by Audi (Győr) with a growth of 274 billion HUF, and Mercedes (Kecskemét), whose turnover increased by 180 billion HUF. But, Suzuki (Esztergom) had a great year too, as the company got richer by 134 billion HUF, and so did Wizz Air by experiencing a growth of over 100 billion HUF.

Moreover, it turned out that OTP Bank topped the list of the companies operating with the most employees, but, because 75% of the 38 thousand workers of OTP were employed at foreign OTP subsidiaries, MÁV (Hungarian State Railways) Group became the largest Hungarian employer, in the end.

Whereas, the owner of the biggest profit after taxation was also the General Electric. Incredibly, the company’s post-tax profit alone was more than the double of the profit of the remaining 49 companies put together.

Photo: facebook.com/GEHungary

Copy editor: bm

Source: szeretlekmagyarorszag.hu