Vajda-Papír turnover climbs 10% in 2020
Image by Shutterstock.com
Revenue of Hungarian hygienic paper maker Vajda-Papír rose 10% to HUF 52 billion last year as demand for its products rose amid the pandemic, the company said, according to a report by state news wire MTI.
EBITDA climbed to HUF 6 bln in 2020 from HUF 2.5 bln a year earlier.
Vajda-Papír said it ramped up production 50% in March 2020 to meet increased demand because of panic buying early in the coronavirus crisis. Demand grew the most for toilet paper which accounts for 30%-40% of the company's output.
This year, Vajda-Papír expects "moderate growth" on domestic and export markets.
An expansion that will make Vajda-Papír feedstock self-sufficient and the addition of masks to the production palette are expected to boost annual revenue by HUF 15 bln.
Vajda-Papír is financing its investments with proceeds from a HUF 11.2 bln bond issued in the framework of the Bond Funding for Growth Scheme (BGS) of the National Bank of Hungary (MNB) last year, and it plans to issue a HUF 9 bln bond in the program this year.
The company exports to more than 20 countries in the CEE region, Scandinavia, and the Baltics. In 2013, it set up a production unit in Norway.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
