The profit of Nestlé Hungária decreased in the first half of the year

By: Trademagazin Date: 2022. 09. 30. 11:52

In addition to increasing turnover, the profit of Nestlé Hungária fell to 1.483 billion forints in the first half of the year from 1.975 billion forints last year – read a report published on the website of the Budapest Stock Exchange (BÉT) on Friday.

Exports to EU countries decreased by 2 percent

The half-year sales revenue of the food industry company increased from HUF 82.9 billion to HUF 103.9 billion, within which the amount of foreign sales increased from HUF 17.2 billion to HUF 23.2 billion in one year. Exports to EU countries decreased by 2 percent, while those outside the EU and Europe increased by almost 80 percent and reached HUF 9.4 billion. Within the total turnover, domestic product sales increased the most, by 27 percent, but services also exceeded 10 percent.

Pet food accounted for more than HUF 53 billion of the sales, the annual growth of the business sector is 38 percent, and according to their calculations, it will remain significant in the second half of the year as well. Traditional Nestlé products reached a turnover of HUF 45.3 billion, with sales of kitchen products and baby food growing the most, by over 10 percent. At the same time, coffee performed worse than planned due to raw material supply difficulties, they wrote.

According to the report, the company’s objectives for this year have not changed. The boom in tourism increased revenues, but the war in Ukraine, changes in energy prices and exchange rates are considered risks, the report shows.

MTI