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28th May, 2026
Croatia wins lesser claim against MOL in INA-related dispute
Croatia has prevailed in an arbitration case brought by MOL, in which the Hungarian energy group sought euro 36.1 million in damages.
In a secondary claim, MOL was ordered to pay euro 91.1 million to INA.
The arbitration panel dismissed all of MOL’s claims in its ruling issued on May 26, according to the Croatian attorney general’s office.
The tribunal also ordered MOL to reimburse Croatia euro 775,000 in arbitration and administrative costs, plus interest.
The dispute followed earlier proceedings before the international centre for settlement of investment disputes ICSID.
In a 2022 ruling, that tribunal partially upheld MOL’s claims against Croatia, awarding the Hungarian company $184 million, rather than the $1.1 billion originally sought, over alleged breaches of contractual obligations linked to the gas business agreement governing MOL’s Croatian subsidiary, INA.
However, ICSID also stated that additional damages claims connected to the agreement could be pursued separately through commercial arbitration, prompting MOL to launch the now-concluded proceedings in 2023. (portfolio.hu; telex.hu; mfor.hu; economx.hu; index.hu)
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28th May, 2026
Croatia corruption claim against Hernadi rejected again
MOL announced on Wednesday that yet another international tribunal has rejected corruption allegations brought by Croatia against chairman and CEO, Zsolt Hernadi.
MOL highlighted that this is the third international decision concluding that Croatia failed to substantiate claims of bribery linked to MOL’s acquisition of management rights in Croatian energy company INA.
MOL added that the latest ruling again raised doubts about the credibility of Croatia’s key witness, Robert Ježić.
The company noted that the Swiss Federal Supreme Court had previously rejected Croatia’s claims twice, while Interpol also declined to support action against Hernadi.
The arbitration ruling challenges earlier Croatian court decisions that convicted Hernadi and former Croatian prime minister Ivo Sanader on corruption charges, relying heavily on Ježić’s testimony.
MOL nevertheless acknowledged that the tribunal also dismissed its own damages claim in the case. The company warned that the outcome could create uncertainty for foreign investors considering Croatia. (portfolio.hu; mfor.hu)
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28th May, 2026
Zwack Unicum posts 7% profit growth
Zwack Unicum yesterday reported an after-tax profit of Ft 3.2 billion for the 2025-26 financial year ending in March, up 6.7% year-on-year.
Domestic sales rose by 3.7% to Ft 20.9 billion, while total turnover increased by 2.1%.
Gross sales revenue reached Ft 39.6 billion, including Ft 14.6 billion in excise duties and Ft 559 million from bottle deposits.
Excluding taxes and deposits, revenue rose to Ft 24.4 billion, a 1.6% annual increase.
The board will propose a dividend payout of Ft 3.1 billion, equivalent to Ft 1,550 per share, implying a dividend yield of 4.3% at current levels.
For the first quarter of 2026, the distiller realised a Ft 597 million after-tax loss, exceeding the Ft 467 million loss of one year earlier.
Gross revenue went up 9.8% to Ft 5.2 billion, while net revenue expanded by 5.8% to Ft 3.2 billion. (portfolio.hu; economx.hu)
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28th May, 2026
Hunguest Hotels doubles profit in 2025
Hunguest Hotels, 99.99% owned by Opus Global, reported a near doubling of profit in 2025, with after-tax earnings rising to Ft 5 billion from Ft 2.6 billion a year earlier.
The company retained the full profit, opting not to distribute dividends despite accumulated earnings from previous years.
Net sales revenue increased to Ft 49.8 billion from Ft 42.4 billion, based on an increase in domestic revenue from Ft 31.9 billion to Ft 37.5 billion, and a rise in export revenue from Ft 10.5 billion to Ft 12.2 billion.
The workforce expanded over the period, with average headcount rising to 1,682 from 1,416. Personnel costs increased accordingly from Ft 12.3 billion to Ft 15.9 billion. (hvg.hu; telex.hu)
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28th May, 2026
Profits soar at Budapest Airport
The operator of Budapest’s Liszt Ferenc International Airport significantly increased its profit last year, with after-tax earnings rising from euro 100 million to euro 184 million.
Net sales revenue grew to euro 475 million in 2025, up euro 63 million year-on-year.
Shareholders approved a dividend distribution of euro 150 million. Under the ownership structure – with the Hungarian state represented by Corvinus International Investment holding 80% and Vinci Airports holding 20% – the state will receive euro 120 million, while Vinci will take euro 30 million. (kontroll.hu; mfor.hu)
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