Mercedes took out HUF 20 billion out of the country

According to index.hu, Mercedes in Kecskemet paid out its total HUF 20 billion profit as dividends – Vilaggazdasag wrote. According to the company’s registry court report, Mercedes Hungary Kft. paid out a total of EUR 63 810 387 to the parent company Daimler AG as dividends.

The company’s been profitable from the first year: in 2012, it had a EUR 53.8 million after-tax profit – nearly half of which it took out – a year later, it produced a EUR 66.3 million net profit, which wasn’t paid out as dividends, but put into retained earnings. This means that that factory in Kecskemet has already produced nearly EUR 90 million – that is, in euro terms, 10% of the total project cost – in the first three years of producing.

In the Kecskemet factory, there is a three-shift production since May 2014 and the plant reached its maximum capacity in July. As a result, it produced nearly 150 thousand cars in 2014 – it is also included in the company’s accounts. The production ramped up gradually: in 2012 it approached one billion euros, the year before last year it crossed two billion euros, while it went above EUR 2.8 billion last year.

It goes well not only for the Hungarian Mercedes:  the Audi in Gyor recently announced it reached its highest level of production of its history: more than one million engines were produced and 84 888 cars rolled down from the production line; the number of cars exceeded by 20 thousand a year earlier. The company’s revenue was EUR 4.1 billion until the end of June, after the EUR 3.7 billion of last year’s half year, that is, on an annual basis it can be over EUR 8 billion which would be a half billion increase compared to the 2014 revenue.

Unlike the owners of Mercedes and Audi, the shareholders of Suzuki were not enriched by the factory in Hungary in recent years. The Hungarian Suzuki, which produced one and a half billion euros of revenues and 150 thousand a year, didn’t pay any dividends, although, with the exception of 2012, its operating income’s been tens of millions of euros for many years. The after tax profit reached EUR 35.6 million before last year. The company left its after-tax profits, which is EUR 85.6 million over four years, left in the company, which may be due in part to that the company spent more than that on investments during this period, Vilaggazdasag wrote.

based on the article of index.hu
translated by BA

Source: www.index.hu