Q1 Mapei Revenue Falls 6.6% y.o.y.

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Revenue of the local unit of Italian building materials maker Mapei fell 6.6% year-on-year in the first quarter, Mapei Kft. said last week according to hvg.hu.

Domestic sales reached HUF 7.2 billion and exports were close to HUF 200 million.

The Hungarian business is cutting costs and taking steps to boost its market share to counter the drop in demand, rolling out new services and products.

Managing director Béla Markovich said the second quarter could bring a "small-scale" improvement as household demand picks up amid lower utility costs, while investments could gain impetus if Hungary's European Union funding is unlocked.

Mapei Kft.'s net sales climbed 21% to HUF 33.5 bln last year.

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