Wellis revenue climbs over HUF 20 bln in 2020

Manufacturing

Image by Shutterstock.com

Revenue of Hungary's Wellis rose over HUF 20 billion last year from HUF 12.9 bln in 2019, the hot tub maker told state news wire MTI.

Wellis said it now has resellers "in the order of 1,000" worldwide and added more than 50 partners in North America alone last year. In addition to its hot tubs, Wellis is also raising the profile of its bathroom fixtures business, it added.

The company plans to sell 30,000 hot tubs this year, but annual sales could reach 80,000 in the near future.

Wellis noted that it is setting up an HUF 8.5 bln manufacturing base in Ózd (123 km northeast of Budapest) that will employ 800 people. The company employs almost 800 people at its plant in Dabas (41 km southwest of Budapest).

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.