Despite challenges, VIDEOTON achieves stable performance in 2024

2024.12.17.
2024.12.17.
The VIDEOTON Group’s net revenue for this year is expected to reach approximately 300 billion forints, announced Gábor Széles, President and CEO, at VIDEOTON's 2024 year-end event on December 13. He added that although this represents a decrease compared to the previous year, "considering the European economic situation, we are holding up quite well and can look to the future with optimism."

Gábor Széles highlighted that in recent years, VIDEOTON has operated with greater efficiency and expertise, achieving significant annual revenue increases with minimal changes in headcount.

Following this, Péter Lakatos, Co-CEO, emphasized that unlike previous years, it was evident this year that hard work alone is not enough for growth. He noted that overcoming the slowdown in demand may lie in geographical expansion, broadening the service portfolio, and entering new industries such as aerospace, defense, and medical technology. He expects that while the Group’s revenue could decline under unfavourable economic conditions next year, its profit-generating capacity will remain intact.

In his global economic outlook, Ottó Sinkó, Co-CEO, pointed out that global turbulence has intensified while Europe faces many challenges (e.g., a decline in internal combustion engine vehicle manufacturing and expensive, scarce energy). He also mentioned additional factors weakening the continent’s competitiveness. Regarding VIDEOTON, he highlighted that the company has implemented wage increases significantly above inflation in recent years. He added that although a tough year is ahead, no layoffs are expected, and real wage growth will continue.

After speeches analyzing the past year, Dr. András Cser-Palkovics, Mayor of Székesfehérvár, welcomed the attendees and remarked that VIDEOTON plays a crucial and significant role in the city’s life. He expressed gratitude to the company’s employees for their dedicated work, which contributes to the development and future of Székesfehérvár. Following the distribution of commemorative certificates and awards for outstanding employees, the official part of the event concluded with the traditional champagne toast.