Continental Tobacco Industry Co. Ltd. of Sátoraljaújhely closed 2024 with an increase in turnover

According to the announcement, the tobacco company’s staff grew by 15 percent in one year, so that, including the employees of the expanding (tobacco puffing) companies operating on its premises, the number of employees reached 750 by the end of December. This made the company the largest employer in the region.

The company’s gross revenue from domestic and export sales was 84.5 billion forints last year, which represents a 9.5 percent increase compared to 2023.

Although final data is not yet available, the company said that its pre-tax profit is expected to exceed the previous year’s level.

The company has gained a market leading position with its filter cigar products in Hungary, Spain and Greece, and its export performance has also increased. Cigarette exports increased by 80 percent and cigarillo exports by about 5 percent, they wrote.

According to the press release, Continental spent 3.5 billion forints on investments last year. Developments implemented in 2024 include a 1.2 billion forint energy efficiency program that includes the modernization of production buildings and the installation of solar panels, as well as a 1,200 square meter warehouse in the Pataki út industrial park. The company plans further investments this year, including the construction of a new 3,600 square meter finished goods warehouse, which is expected to be completed by the end of the year.

The Continental Tobacco Industry Group operates a system in Hungary that covers the entire process of tobacco production and processing. According to the statement, their goal is to continue to contribute to the preservation of Hungarian tobacco growing traditions despite the decline in the market.