Vajda-Papír Group Turnover Doubles
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Turnover of Vajda-Papír group, Hungary's biggest maker of hygienic paper products, doubled last year, but higher energy prices weighed on profitability, the company said in a press release on Friday, according to a report by state news wire MTI.
The combined turnover of Vajda-Papír group's plants in Hungary and Norway climbed over HUF 80 billion. The revenue of the Norwegian unit came close to HUF 20 bln.
Energy costs rose 70%, or HUF 17 bln, and feedstock prices climbed, too, reducing EBITDA to HUF 1.4 bln.
A year earlier, the group had revenue of HUF 57 bln and EBITDA of HUF 2.7 bln.
Sales volume increased by 12% in 2022.
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