Hungarian state-owned wine trader Tokaj Kereskedőház expects HUF 16.6 bln in targeted funding to make its business profitable by 2019, the companyʼs recently appointed CEO said in an interview with daily Magyar Idők today.
Péter Szappanos told the paper that Tokaj Kereskedőház would submit its four-year business plan to the government in the coming days.
“Our goal is to make the company profitable by 2019, but EBITDA could be positive by 2018,” he said.
Tokaj Kereskedőház will wind up a development project it launched in 2013, by the end of next year.
The company has a capacity to turn out ten million bottles of wine a year. Most export sales are to neighboring states, but the aim is to boost the proportion to China, the United States, Scandinavia and the United Kingdom.