Mol achieved significant performance in the second quarter of 2023, which was not seen since the 2022 energy crisis. The Downstream segment reached a record high, due to increased margins, normalized product supply, and the return of Russian oil. The Upstream segment also achieved strong results, making the third quarter the strongest in the period, with net profit exceeding analyst expectations by nearly 60 percent. The reasons and sustainability will also be examined.
The plans for the University of Pannonia’s new 400-student dormitory in Veszprém have been finalized and will primarily serve foreign students. The Octogon magazine has presented the building in detail, and its communal spaces will be available to local residents. During breaks, the dormitory will function as a four-star hotel. The topic of dormitory construction will be a key theme at the Portfolio Property Investment Forum conference.
On September 20th, the Portfolio cycling community will gather again: the third Network on Wheels – Portfolio Sunday Business Ride will take place, where sport, business networking, and a charitable cause will come together.
The factory closure surprised almost everyone, according to local reports and the mayor, the company management was only informed of the decision at the last minute.
The real estate sector is proposing several immediate measures to reduce energy consumption and mitigate the strain on the electricity grid. The working groups of the Real Estate Developers Round Table have jointly developed a package of recommendations to support the operation of office buildings, industrial and logistics properties. The president of the IFK, Adam Székely, will give a presentation at the Property Investment Forum conference.
Today, investors are focusing on corporate earnings reports, while events related to the war in Iran are also unfolding in the background. After the closing of US stock markets, SpaceX and AMD reported, while Disney and Eli Lilly are expected to report soon. On the domestic market, the results of OTP and Magyar Telekom were made public. The US indices showed significant gains on Tuesday, but the Hungarian stock exchange underperformed due to the declines in Mol and OTP. Trading in the US began strongly on Wednesday, but ultimately the Nasdaq and S&P 500 fell, while the Dow Jones rose.
Magyar Telekom’s total revenue and net profit increased by 0.8% and 0.5% respectively in the second quarter of 2025 compared to the same period in 2024.
The ministry’s professional leadership discussed a new, non-profit housing model with representatives of the MR Community Housing Fund, which integrates social work and long-term support for vulnerable families with the provision of affordable housing. The goal is to reduce housing poverty, according to Social Affairs and Family Minister Vilmos Kátai-Németh, who provided details about this in social media.
Magyar Telekom published its second-quarter results in line with expectations. Revenue increased slightly, but EBITDA decreased slightly due to the lack of favorable base-period items. Mobile data remains the engine of growth, while revenues in the system integration and IT segments decreased. The main messages of the interim report were presented, and the price of the shares was analyzed after the 50% increase this year.
While the mood is generally good on US and European exchanges, the BUX closed in the red on Wednesday, primarily due to declines in MOL and OTP. Among the mid-caps, the 4iG market saw significant movements at the end of the day, with the stock closing more than 5 percent higher.
In Hungary, the boundaries of protected and specially protected natural areas are now officially available on digital maps. Thanks to the data published on the Magyar Természetjáró Szövetség (MTSZ) platform, including the Kéktúra app, hikers can more easily plan their routes, avoiding violations of regulations, fines, and environmental damage.
The second quarter reporting season is currently underway in Hungary, with all four major companies expected to release their financial results this week, with Richter scheduled to follow suit on Friday. We will show you what quarter analysts expect based on consensus forecasts, and what factors influenced the results during the period.
The price of gold rose by more than 2 percent today, reaching a level not seen since June. Investors’ attention is now focused on Friday’s U.S. employment data, which could provide insights into the Federal Reserve’s interest rate path.
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