Kométa turnover exceeds HUF 43 bln in 2017

Telco

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As one of the countryʼs leading meat processing companies, Kométa 99 Zrt. (based in Kaposvár, SW Hungary), had turnover of more than HUF 43 billion in 2017, Managing Director Giacomo Pedranzini said on Tuesday.   

Kométa has spent some HUF 8 bln on investments over the past ten years, Pedranzini was cited as saying by state news agency MTI. The company had revenues of HUF 36 bln in 2016.

The Kaposvár municipality acquired 38% of the company in 2013 through a HUF 2 bln capital raise, in order to preserve jobs at the then troubled company. The Italian owners last year pledged to repurchase 33% by 2020 for HUF 1.735 bln. Almost half of the companyʼs output is sold in Italy.

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