The Vajda-Papír Group doubled its sales, but its profitability decreased due to the increase in energy prices

In one year, the company’s energy costs increased by 70%, HUF 17 billion, and the prices of raw materials also rose. The EBITDA was HUF 1.44 billion, and the profit before tax was HUF 100 million in 2022. A year earlier – in 2021 – the group realized an EBITDA of HUF 2.7 billion with sales revenue of HUF 57 billion. The company group produced and sold 12% more products last year than in 2021.

According to the report published on the Budapest Stock Exchange, Vajda-Papír Kft.’s net sales revenue rose to over HUF 53 billion from the previous year’s HUF 30 billion. Financial expenses doubled to over HUF 52 billion, the pre-tax loss amounted to HUF 2.58 billion after the 2021 profit of HUF 524 million.

Attila Vajda, the founder-managing director of the company, called last year a challenging year, but he believed that the situation seems to be consolidating in many areas: inflation is slowing down, supply chain disruptions are ending, so profitability is expected to improve again this year. In addition to the difficult circumstances, Attila Vajda called the retention of the number of employees, the handover of the second phase of the new factory, the creation of new jobs and the provision of 100% self-sufficiency in raw material production a significant achievement.