Continest Technologies doubled turnover in 2021
Continest Technologies, a company that develops and manufactures unique foldable container technology, closed the year 2021 with a total revenue of HUF 1.83 billion, according to a press release sent to the Budapest Business Journal.
The company, founded in 2019, closed the first half year of its operations with a turnover of HUF 65 million. Subsequently, the company has been on a steady path of growth over the past three years, doubling its HUF 820 mln revenue in 2020 last year. In addition to turnover, profit after tax has also increased, more than quadrupling to HUF 33 mln compared to 2020.
Continest handed over its first factory for foldable containers in Székesfehérvár last summer, which contributes significantly to the company's stable operation and cost-efficient production. As an export-driven company, Continest sold its products in 10 countries in 2021, accounting for more than 80% of its turnover.
"The demand for Continest's technology and temporary infrastructure is growing, not only in our country but also in international markets. We have sold or leased the majority of our 316 container units produced in 2021 in more than 10 countries. All in all, we are already present with our foldable containers in 15 countries. And this autumn we will also hand over our second factory, so that we will be able to produce a total of approximately 3,000 containers instead of the current 1,000 per year," said Vidor Kis-Márton, founder and CEO of Continest Technologies.
"At the same time, we are working on new developments and aim to enter new markets. We plan to close this year with similar growth in our profit after tax as a result of efficiency improvements, product development and geographical expansion," he added.
The company, which started out as a startup, has achieved significant growth despite the economic conditions made difficult by the pandemic.
One of the most notable projects last year completed by Continest’s medical division, ContiMed, was a collaboration with the Ministry of Foreign Affairs and Trade to build a 12-bed multifunctional mobile hospital for the World Health Organization (WHO) in Uganda.
Continest also made its debut in the defense industry in 2021. As part of its HUF 260 mln R&D project with the Hungarian Defence Forces Modernization Institute, it has developed a mobile, armoured and soundproof shooting range based on foldable container technology.
The company is currently working on developments such as a fully equipped kitchen container or foldable cargo containers that can also be used for goods transport.
Continest’s factory in Székesfehérvár was expanded at the beginning of 2022 with a new production hall specialised in the production of medical containers, for which the company received more than HUF 432 mln in non-refundable funding from the Széchenyi 2020 Economic Development and Innovation Operational Program (GINOP).
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