Euronics revenue climbs 20% in H1

Retail

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Revenue of Hungarian-owned electronics retailer Euronics rose 20% to close to HUF 36 billion in the first half of 2021 as demand in electronics products increased with the restart of the economy, the company operating the chain in Hungary said on Monday, according to a report by state news wire MTI.

Sales of Euronics' webstore were up 60% from a year earlier, Vöröskő said.

Based on the results so far, the company projects 10% revenue growth this year from HUF 64 bln in 2020. 

Vöröskő had profits of HUF 747 million in 2020, public records show.

It spends more than HUF 320 mln this year on raising wages by 7% on average for the almost 700 workers employed at its stores and a loyalty bonus for those with at least six months of employment, the company said.

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