BioTechUSA Revenue Climbs 41% in 2022
Revenue of Hungarian dietary supplement maker BioTechUSA rose 41% to HUF 80.4 billion last year, co-owner and CEO Bálint Lévai said on Thursday, according to a report by state news wire MTI.
Exports accounted for around 80% of revenue. Turnover at BioTechUSA's international chain of shops jumped 216%.
Lévai acknowledged that higher delivery and energy costs, as well as a shortage of base materials, posed "challenges" last year. The price of base materials for protein doubled, which was reflected in higher prices of BioTechUSA products, he said.
BioTechUSA added 300 products to its portfolio during the year, bringing the total to 2,000.
The company launched an HUF 11.5 bln production expansion last year. Government support is covering 30% of the investment cost. When completed, BioTechUSA's protein bar capacity will rise from an annual 20 million units to 110 million.
BioTechUSA aims to strengthen its position in Europe this year, while expanding its international presence in countries in South America and Southeast Asia as well as in China, India, Saudi Arabia, and Indonesia, Lévai said.
The supplement maker is present in more than 100 countries. It has 50 webshops and 279 franchise businesses.
ADVERTISEMENT
E-scooters More Popular Than Bikes at eMag
Parliament Negates Mandatory Membership in MOK
Civita Group Inaugurates HUF 2.5 bln Pasta Plant
Service Restarted on Full Length of Metro Line M3
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.
