15 Most Valuable Hungarian Companies In The World
In this article, we will discuss the 15 Most Valuable Hungarian Companies In The World. You can skip our industry overview and go directly to the 5 Most Valuable Hungarian Companies In The World.
Hungary had a rough start to the year 2023 as S&P Global Ratings downgraded its credit rating to BBB-/A-3, the lowest in the investment grade category. Furthermore, Fitch Ratings changed its outlook on Hungary's Long-Term Foreign-Currency Issuer Default Rating to negative from stable. This loss of confidence is primarily due to the EU's decision to block €22 billion in Hungary's cohesion funding amid concerns about the nation's declining democratic standards. Ahead of the 2022 National Elections, the government went on a spending spree which later had to be settled through fiscal tightening and then imposing windfall taxes on different sectors in the 2023 budget. Adding to the public's distress is the high level of inflation, which has forced the Hungarian National Bank to adopt a tight monetary policy stance.
According to the World Bank, in 2021, Hungary’s economy was valued at $181.848 billion, the 55th largest economy in the world. Exports of products and services make up about 80% of the country’s GDP. Around 28% of Hungary’s exports go to Germany, while Slovak Republic, Italy, Romania, and Austria are some other major export markets.
Hungary's Economy: An Analysis
The Machinery and Electronics sector, led by VIDEOTON HOLDING Ltd., is a major revenue generator for Hungary. In 2020, this sector contributed 40% to Hungary's exports. The chemical sector, which generated 9% of exports in the same year, is led by Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. (0QFP.IL) through its pharmaceutical operations.
Fueled by foreign direct investment, which stood at 16.6% of GDP in 2021, the automotive sector is now a pillar of the Hungarian economy. According to PwC, this sector employs more than 170,000 people, producing around 20% of total exports. The presence of German premium car manufacturers Audi, BMW, and Mercedes-Benz, all of which have production facilities in Hungary, supports various Hungarian automotive-related businesses. One such business is AUTOWALLIS PLC (AUTOW.BD), which is part of our list of the 15 most valuable Hungarian companies in the world. In order to attract additional foreign investment, in 2017 the government reduced the corporate tax from 19% to 9%, making it the lowest corporate tax rate in the EU. This incentive, along with Hungary’s highly qualified workforce, make it a popular destination for operational outsourcing.
Although our list is only concerned with the largest companies, Hungary has an emerging startup space. According to Dealroom, the current enterprise value of Hungarian startups has increased from €584 million five years ago to a combined value of €2.4 billion in 2022. The most well-known Hungarian startup is Prezi, a presentation software company. However, the fastest-growing Hungarian startup at present is SEON, a cyber security company. In the past year, SEON raised $94 million in Series B funding investment.
The OECD forecasts Hungary's GDP growth to decrease from 6% in 2022 to 1.5% in 2023. They have attributed this slower growth to several factors, including rising inflation levels, the impact of the Russia-Ukraine conflict, decreasing confidence in the Hungarian economy, and a decrease in demand from its export markets.
Our Methodology
To come up with the 15 most valuable Hungarian companies in the world, we scoured the internet, used stock screeners and manual research to find the biggest and most valuable Hungarian companies in terms of market cap. We also looked for most valuable private companies in Hungary. Only one private company made it to our list, for which we used a revenue multiple of 2x to estimate its market value.
Most Valuable Hungarian Companies In The World
15. Zwack Unicum Nyrt. (ZWACK.BD)
Market Cap as of February 11, 2023: $93.00 million
Zwack Unicum Nyrt. (ZWACK.BD) is an alcoholic beverage company based in Hungary. The company produces whisky, liqueur, vodka, wine, and other spirits. Furthermore, the company has a wholesale division and engages in foreign trade. The company’s products are offered under several brand names, such as Unicum, Johnnie Walker Blue Label, Ciroc, Zacapa, etc. Zwack Unicum Nyrt. (ZWACK.BD) owns and operates a distillery in Kecskemét and has three production facilities in Kecskemét, Dunaharaszti, and Soroksári Road.
14. Waberer's International Nyrt. (3WB.SG)
Market Cap as of February 11, 2023: $100.30 million
Waberer's International Nyrt. (3WB.SG) is a logistics and full truckload (FTL) transportation company that serves customers in Europe. The operating segments include regional logistics, international transportation, and other services. With a fleet of 2,800 trucks, Waberer's International Nyrt. (3WB.SG) mainly offers long-distance transportation services for refrigerated and dry products, collective transportation, and freight forwarding services. The company also has 320,000 sqm of warehousing facility through which it provides warehousing and storage services.
13. AUTOWALLIS PLC (AUTOW.BD)
Market Cap as of February 11, 2023: $120.00 million
AUTOWALLIS PLC (AUTOW.BD) is a vehicle trading and mobility service provider company. The company’s operating segments include automotive industry services and domestic and international distribution. AUTOWALLIS PLC (AUTOW.BD) offers automotive-related services such as wholesale and retail of vehicles and their accessories and parts, repair, and short and long-term rental services. Some of the famous car brands served by AUTOWALLIS PLC (AUTOW.BD) include Suzuki, Toyota, Dacia, Isuzu, Jaguar, and BMW. AUTOWALLIS PLC (AUTOW.BD) provides its services in 14 countries throughout the Eastern and Central European region.
12. Takarék Jelzálogbank Nyrt. (FH21.F)
Market Cap as of February 11, 2023: $122.45 million
Takarék Jelzálogbank Nyrt. (FH21.F) is a Hungarian commercial bank offering mortgage banking services. The company’s operating segments include corporate, retail, refinancing, treasury, investment services, and other segments. Takarék Jelzálogbank Nyrt. (FH21.F) provides retail and corporate bank accounts, deposits, loans, savings, and other services to its retail and corporate customers. Additionally, the company offers bonds, and real estate services and also focuses on security issues, liquidity management, and asset and liability management.
11. Fotex Holding S.E. (0MCY.L)
Market Cap as of February 11, 2023: $138.16 million
Founded in 1984, Fotex Holding S.E. (0MCY.L) engages in various businesses, including the manufacturing of household and consumer goods. Fotex Holding S.E. (0MCY.L) also offers internet and software development services; publishing, wholesale, and retail of music; and management of archives for Hungaroton Music Inc. The company operates in the Netherlands, Luxembourg, and Hungary.
10. MASTERPLAST SHARE (MAST.BD)
Market Cap as of February 11, 2023: $140.00 million
Founded in 1997, MASTERPLAST SHARE (MAST.BD) is a building materials manufacturer. The product categories of the company include roofing foils and elements, facade insulation systems, heat insulation, dry construction, soundproofing and waterproofing, and accessory products for the construction industry.
9. Budapesti Ingatlan Hasznosítási és Fejlesztési Nyrt. (BIF.BD)
Market Cap as of February 11, 2023: $140.00 million
Founded in 1994, Budapesti Ingatlan Hasznosítási és Fejlesztési Nyrt. (BIF.BD) engages in property development, construction of corporate and residential buildings, and managing and maintaining real estate properties. The company’s portfolio includes car parking, hotels, and garages. There are three main sectors through which the company operates: Harsánylejto Condominiums, which operates in the residential area; Harsánylejto Plots, which deals in vacant lands that are ready for sale; and Investment and Income-Generating Properties, which deals with the leasing of properties.
8. ALTEO Energy Services Public Limited Company (ALTEO.BD)
Market Cap as of February 11, 2023: $160.00 million
ALTEO Energy Services Public Limited Company (ALTEO.BD) is involved in power and heat generation through various sources such as natural gas, biogas and biomass power plants, thermal or landfill gas, and district heating plants, as well as renewable sources such as wind, solar, and hydro. ALTEO Energy Services Public Limited Company (ALTEO.BD) also offers waste collection and waste management services. The company owns and operates three sugar factories and one refinery and owns over 31,000 hectares of land which can be utilized for real estate projects.
7. OPUS GLOBAL Nyrt. (OPUS.BD)
Market Cap as of February 11, 2023: $250.00 million
Opus Global Nyrt. (OPUS.BD) is a conglomerate that operates several businesses in industries including industrial manufacturing, energy, agriculture and food, tourism, and investment management. OPUS GLOBAL Nyrt. (OPUS.BD) also supplies gas via a pipeline network of almost 34,000 kilometers and distributes power in 400 towns, reaching around 772,000 households and offices.
6. 4iG Nyrt. (4IG.BD)
Market Cap as of February 11, 2023: $580.00 million
4iG Nyrt. (4IG.BD) operates as a software development corporation. The operating segments include trade, IT services, and other activities. The company engages in the design and development of the operating database, customized software, and application servers. These services are offered to various industries, including healthcare, utility, energy, finance, transportation and logistics, food processing, education, agriculture, and entertainment. 4iG Nyrt. (4IG.BD) also offers cybersecurity solutions, such as information security and application and development security services.
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Disclosure: None. 15 Most Valuable Hungarian Companies In The World is originally published on Insider Monkey.
