Sziget Zrt. profits could reach HUF 1.5 bln in 2018

Telco

This year, profits of festival organizer Sziget Zrt. could again reach the record HUF 1.5 billion achieved two years earlier, CEO Tamás Kádár was cited as saying in Wednesdayʼs issue of daily Népszava.

Profit of Sziget Zrt.’s biggest festival, Sziget, a week-long musical extravaganza on an island in the Danube in Budapest, could approach the over HUF 1 bln booked in 2016, Kádár told the paper.

Sziget Zrt.’s two other big festivals, VOLT in Sopron (214 km west of Budapest) and Balaton Sound in Zamárdi (113 km southwest of the capital, on the southern shore of Lake Balaton), both matched the numbers from two years earlier, Kádár added.

Sziget Zrt. booked a HUF 655 million loss in 2017 as financial losses swelled to HUF 1.6 bln, public records show.

Ticket prices for next year’s festivals are expected to rise in the single digits, Népszava reported.

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