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Hungarian Electronics Company Videoton to Close Year With HUF 300 Billion Net Revenue

• 16 Dec 2024 6:52 AM

Hungarian-owned electronics manufacturing services company Videoton expects to close 2024 with net revenue of around HUF 300bn, chairman-CEO Gabor Szeles said at a year-end event on Friday.

Szeles acknowledged a modest decline in turnover, for the first time since 2009, but said the company was "doing well enough" in light of the economic situation in Europe and was "optimistic looking ahead".

He noted that Videoton's headcount had changed little over the past ten years, while its revenue had climbed, supported by improved productivity.

Co-CEO Peter Lakatos said a downturn in demand could be addressed with a geographical expansion, a broader palette of services, and entry into new branches of industry, such as aviation, defence and medical technology. He added that turnover could fall in 2025, too.

Co-CEO Otto Sinko said a "difficult year" was ahead, but Videoton did not expect to make layoffs.
 

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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