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Videoton sees 10%-12% revenue drop in 2009

Hungarian-owned contract electronics manufacturer Videoton expects to close 2009 with revenue of about HUF 80 billion, 10%-12% less than in 2008, albeit a slighter drop than at its multinational competitors, CEO Gábor Széles told MTI on Friday.

Revenue at multinationals in the segment has dropped 25%-30%, Széles said.

Videoton has about 8,000 staff and the company recently made 800 new hires in Ukraine, where it is making electronic cables.

Videoton has net assets of more than HUF 70 billion.

In spite of the crisis, Videoton made hundreds of millions of forints worth of investments in 2009. (MTI-Econews)