Gov't Wants Sustainable Business Model for Magyar Posta


Photo by

The government expects state-owned postal company Magyar Posta to adopt a sustainable business model, advance its green and digital transition, and continue to ensure nationwide services, National Economy Minister Márton Nagy said at a press conference in Budapest on Friday, according to a report by state news wire MTI.

Magyar Posta will be necessary in future, too, as an operator of "essential infrastructure" allowing all citizens access to conventional and online postal services, Nagy said. The company's activities include support for residents of Hungary's smallest settlements, including cash withdrawals and other financial services, he added.

He said Magyar Posta's fleet of vehicles needed to be upgraded in line with Hungary's climate goals.

CEO Barnabás Balczó said Magyar Posta could become self-sustaining in five years, balancing out its conventional, but loss-making, services with profits from parcel delivery, fulfillment services and enhanced digital channels, while strengthening its financial services and expanding the banking, insurance, and lottery products it sells for partners through its own network.

Magyar Posta could add close to 400 partners to its network in the future, while the number of parcel lockers it operates could reach 700 by year-end, he added.

He said Magyar Posta could expand its services abroad, to markets in Bulgaria, Croatia, Serbia, Slovenia, and North Macedonia.

He noted that Magyar Posta delivered the monthly pensions, in cash, of about 850,000 Hungarians.

Magyar Posta had revenue of HUF 246 bln and profit of HUF 2 bln in 2023. It delivered 445 mln letters and over 29 mln packages. It also processed close to 139 mln postal cheques and facilitated around 1.8 mln retail government securities transactions. It has 561 partners in addition to 2,231 post offices and operates 550 parcel lockers.

Zwack Profit Falls 16% Figures

Zwack Profit Falls 16%

EC Advances Infringement Procedure Over Hungary's Sovereignt... EU

EC Advances Infringement Procedure Over Hungary's Sovereignt...

Hell Energy Inaugurates HUF 80 bln Capacity Expansion Manufacturing

Hell Energy Inaugurates HUF 80 bln Capacity Expansion

Puskás Arena to Host 2026 Champions League Final In Budapest

Puskás Arena to Host 2026 Champions League Final


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.