MÁV revenue reaches HUF 140 bln in 2014

Telco

State-owned railway company MAVʼs consolidated revenue rose to HUF 140 bln last year, up from the HUF 135 bln reported in 2013, CFO Erzsébet Szikszay Bandofai said yesterday, according to Hungarian news agency MTI. 

The state took over a portion of MAVʼs debt, reducing the consolidated stock to HUF 152 bln at year-end, Szikszay Bandonfai said. MAV assumed the management of HUF 217 bln in assets from the National Infrastructure Company in 2014, bringing the total Treasury assets it manages to HUF 720 bln.

Last year, MAV spent HUF 9.6 bln on upkeep and HUF 37.8 bln on refurbishments from its own resources, according to deputy-CEO Lászlo Pál. Expenditures on safety developments and station renovations were made possible with funding from the European Union, he added.

ADVERTISEMENT

Consumer expectations fall more than business confidence in ... Analysis

Consumer expectations fall more than business confidence in ...

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest targets tourists with public transport fare hikes City

Budapest targets tourists with public transport fare hikes

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.