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.