Vajda-Papír closed 2024 with stable growth and green investments

Attila Vajda, the company’s founding CEO, explained that Vajda-Papír’s total domestic turnover was 84.7 billion forints, that of the Norwegian subsidiary was 16.8 billion, and the annual consolidated sales revenue of the Vajda-Papír Group amounted to 73.1 billion forints in 2024. In the first quarter of 2025, Vajda-Papír Kft. annual net sales revenue was 26.0 billion forints, while at the consolidated level the same amounted to 19.5 billion forints. The year 2024 was spent in the spirit of increasing efficiency, sustainability and innovation: the company group began the preparation and planning of a solar park and a biomass power plant. Vajda-Papír plans to expand in 2025, is working on capacity-increasing investments and further strengthening its positions in foreign markets – the company, which is also present on the Budapest Stock Exchange (BSE), announced.

Vajda-Papír Kft. experienced declining demand in its sales markets. Retail turnover decreased significantly, and demand for hygienic paper products also decreased slightly. Despite the decline, Vajda-Papír was able to increase sales in the public sector by more than 40%, thereby partially offsetting the negative effects of global market demand and raw material prices.

According to the company, the demand for sanitary paper products is closely related to the standard of living. While in Western Europe and the United States the annual per capita consumption is 20–22 kg, in Hungary, the Czech Republic and Poland the average customer uses only barely half of this (approx. 9–10 kg) annually. According to the company’s management, this offers significant growth potential in the region.

Green transition: solar park and biomass power plant are the future

Vajda-Papír has spent nearly 40 billion forints on sustainability goals in the past decade. The efficiency of production processes has improved significantly: 26% less electricity and 70% less water are used to produce one ton of base paper today than a few years ago. The in-house production of raw materials has reduced the need for logistics, saving around 400 thousand liters of fuel and significant CO₂ emissions annually. In 2024, the company prepared the construction of a solar park and a biomass power plant with more than 10 billion forints of support from the Hungarian government’s Factory Rescue Program. The goal is to increase energy independence and move towards zero-emission operations.

The company also made significant investments in automation: new industrial robots were put into operation, which increased efficiency in the areas of packaging, labeling and warehousing.