Today, Ganz Electric is a 100% Hungarian-owned company that operates with a revitalized vision – one that harmoniously blends its historic legacy with state-of-the-art engineering, forward-looking sustainability, and an unwavering commitment to innovation.
Headquartered in Tápiószele, Ganz Electric specializes in the design, manufacturing, and servicing of high-voltage transformers and electric rotating machines. Its comprehensive portfolio encompasses power transformers, traction transformers, industrial motors, generators, and advanced refurbishment services. Driven by a steadfast dedication to quality, reliability, and long-term partnerships, the company serves a diverse clientele across Europe and beyond, actively contributing to the electrification and modernization of energy systems worldwide.
The company’s most ambitious undertaking to date, the Ganz 2030 development program, marks a transformative chapter in Ganz’s history. Backed by a EUR 52 million investment, this strategic initiative seeks to double production capacity by the end of the decade, establishing a future-ready manufacturing base designed to meet the rapidly evolving needs of the global energy sector.
At the heart of the program lies the construction of a state-of-the-art transformer manufacturing plant in Tápiószele, scheduled for completion by late 2026. Spanning approximately 6,500 sqm, the new facility will dramatically enhance production efficiency and output. The site will feature expanded storage and logistics hubs, modernized material handling systems, upgraded transformer testing halls, and a dedicated refurbishment centre for aging equipment. In addition, an insulation manufacturing unit will be seamlessly integrated into the existing infrastructure, ensuring continuous production and optimal utilization of space.
Beyond infrastructure, Ganz 2030 places a strong emphasis on talent development. The company plans to hire at least 300 new employees by 2030, reinforcing its position as one of the region’s largest and most dynamic employers. To support this growth, Ganz has launched the Ganz Training Center – Hungary’s first specialized educational hub dedicated to transformer and rotating machine manufacturing. The center offers structured, intensive training programs designed to equip new hires with the technical expertise required to thrive in a high-tech industrial environment.
The program also aligns closely with Ganz Electric’s sustainability objectives. By refurbishing outdated transformers and incorporating renewable energy solutions Ð such as solar power and advanced energy storage systems already in operation Ð the company is actively reducing its carbon footprint and accelerating the broader transition to green energy. According to CEO Gergely Gál, the company’s vision is clear: “Our goal is to establish a manufacturing base capable of supporting the growing role of renewable energy and driving the electrification of industrial production by the end of 2030.”
The success of the Ganz 2030 program is supported partially by the company’s outstanding financial performance in recent years. Ganz closed the 2024 financial year with exceptional results, marking its third consecutive year of record-breaking performance. Net revenue climbed to EUR 110.65 mln, representing a 55% increase compared to the EUR 71.55 mln achieved in 2023. This growth reflects not only strong domestic demand but also the company’s expanding international presence, with 42% of total revenue coming from export markets and 32% generated within the European Union.
Profitability also reached unprecedented heights. Operating profit nearly tripled to EUR 19.8 mln, while after-tax profit quadrupled, rising from EUR 4.45 mln in 2023 to EUR 18.15 mln in 2024. These figures demonstrate the effectiveness of Ganz’s strategic renewal, its operational efficiency, and its ability to adapt to shifting market demands.
Each of the company’s three core business divisions made significant contributions to this success. The service division led with a two-and-a-half-fold increase in revenue, driven by growing demand for transformer refurbishment and lifecycle support. The rotating machine division doubled its revenue, reflecting higher orders for industrial motors and generators. Meanwhile, the transformer division posted a 50% year-over-year increase, supported by new contracts and expanded production capacity.
Commenting on the results, Gergely Gál noted, “In 2024, we closed our third consecutive successful financial year, which opens up new opportunities and markets for our company. We are confident that 2025 will bring further outstanding results and achievements.”
Looking to the future, Ganz Electric is committed to deepening its role in the European energy sector. With 42% of revenue already derived from export markets – including 32% from within the EU – the company aims to establish itself as a stable and influential player in transformer manufacturing across Europe. The transition to a private limited company (Zrt.) in 2025 underscores this ambition, positioning the company for greater transparency, flexibility, and international collaboration.
Gergely Gál emphasized: “With the transition to a private limited company, we are adopting an operational model and corporate structure that truly reflect Ganz’s new growth trajectory. But this is more than just a name change; it is a conscious strategic step that strengthens our commitment to sustainable growth, technological renewal, and international expansion. We are building an industrial enterprise capable of competing in the energy sector – both in Hungary and on the global stage.”
By leveraging its rich heritage, technological expertise, and dedication to sustainability, Ganz Electric is perfectly positioned to support Europe’s electrification goals and its transition to green energy, reinforcing its role as a trusted industrial partner for the future.
This article was first published in the Energy Review 2025 / 2. print issue.
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