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Celebrating its 80th anniversary this year, Videoton Group reached a new record in the first 8 months of 2018 thanks to increasing its turnover by 11% compared to the same period last year. By the end of 2018, the turnover of our manufacturing subsidiaries is expected to triple compared to what they had 10 years ago when the global financial crisis broke out.
Based on its turnover, Videoton Group continues to be among the TOP 5 contract manufacturers headquartered in Europe while being in TOP 3 based on value-add figures.
The profitability competitiveness, technological complexity and service level of the group are considered outstanding even on a global level.
At the same time this is also the most challenging year for the group. Due to the lack of manpower, our growth had to be realised with a practically unchanged headcount.
The number of employees at our manufacturing subsidiaries was 7.250 at half-year. Together with our service companies the figure was 10.700 in total.
We were able to realise our results with a wage increase that was higher than the average in the National Economy.
It further increased the challenges of this year that Videoton is realising the biggest investment of its history. The total amount of investments will exceed 14 billion HUF in 2018 which is 2,5 times more than the typical figures of the previous years.
All investments are continued to be financed from Videoton’s own capital.
The investments are linked to our core activities & existing businesses, largely concerning the fields of Industry 4.0, integrated ERP and digitalisation. They are also expected to establish a solid base for the development of the Group in the coming decade.