KITE Zrt. in Nádudvar achieved record profits.

Economy Local News

Nádudvari KITE Zrt., owned by Sándor Csányi, significantly increased its sales revenue from HUF 321 billion in 2020 to HUF 386 billion in 2021, so the company set another record last year, the Agricultural Sector reported.

The company, which operates as the largest Hungarian agricultural integrator company, achieved a record profit after tax of almost HUF 6.7 billion last year. The General Meeting of KITE decided to pay a dividend of approximately HUF 5.5 billion.

According to the company’s closing financial year report, all business lines and activities maintained and increased their turnover, but the drastic market price explosion in crop sales caused a particularly large increase. The expansion of the fertilizer trade is also considered outstanding, where the turnover increased significantly in terms of volume and value compared to 2020.

The company achieved last year’s record results by putting 2021 under significant challenges. The COVID epidemic has disrupted supply chains, prolonged supplier performance, shortages of raw materials and rising prices, and raised exchange rates and interest rates in the financial world.

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