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3rd June, 2021

Wizz Air lost €576mn in 2020

Wizz Air realised a €576 million loss in the fiscal year ending on March 31, the low-cost airline announced on Wednesday.

Revenues plummeted 73% year-on-year to €739 million because of the travel restrictions imposed due to the pandemic.

The number of passengers was down by 75% to some 10 million.

The company also announced that the number of passengers rose to 833,000 last month from 126,000 in May of last year.

Wizz Air also forecasts a loss for this fiscal year, adding that previous passenger numbers will only be reached in 2023.

Wizz Air still has €1.6 billion in cash so it is calm about the coming quarter, said CEO Jozsef Varadi. (index.hu)
3rd June, 2021

Market Epito profits double

Market Epito realised a Ft 17.4 billion net profit last year, up from Ft 7.4 billion a year earlier, the construction company reported to the company registry.

Revenues reached Ft 183.5 billion, down from Ft 188.7 billion.

Operating profit shot up from Ft 7.6 billion to Ft 19.1 billion, boosting pre-tax profit from Ft 7.4 billion to Ft 18.1 billion.

Market Epito had 417 employees last year. It donated Ft 374 million to charity and Ft 656 million to sports clubs.

Among other projects, the company is building the MOL tower in south Buda, a handball stadium in Budapest, and the Airbus Helicopters factory in Gyula.

Istvan Garancsi owns 51% of Market Epito shares and CEO Sandor Scheer 49%. (napi.hu)
3rd June, 2021

4iG completes acquisition of Hungaro Digitel

4iG has completed the acquisition of a 75% stake in satellite telecoms company Hungaro Digitel (HDT) following approval by the competition authority, the IT company announced.

After the transaction, state broadcasting company Antenna Hungaria’s share in Hungaro Digitel dropped to 25%.

The stake was sold by Portuguese Telecommunication Investments, a subsidiary of the Bartolomeu Investments fund managed by asset manager Alpac Capital.

4iG is paying for the acquisition by transferring 5.24% of its own shares to Bartolomeu Investments.

The new shareholder agreed not to sell the shares for a year.

Telecoms is one of 4iG’s target sectors for growth. (portfolio.hu; magyarnemzet.hu; index.hu)
3rd June, 2021

Ft 30bn road contract awarded

Construction companies He-Do and Soltut have won the tender for building a 10km road with six bridges and two roundabouts in Borsod-Abauj-Zemplen county for Ft 30 billion, state infrastructure developer NIF announced on the EU public procurement website.

Strabag won the contract for construction of a 1.8km connecting road to the new road linking Sajoszentpeter and Berente in the Sajo valley for Ft 5.3 billion.

The NIF signed the contracts with the winners on May 18.

Duna Aszfalt and a consortium of Domper, Subterra-Raab and Pannon-Doprastav also filed bids in the tender. (napi.hu)

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