The purpose of business is to make a profit; however, things do not always work out as intended. Some companies find themselves in the red from time to time due to an unfavourable market situation, while others generate losses for years.
This ranking, based on last year’s data from the Finstat website, lists companies from both groups.
Their losses reached tens of millions of euros, even though some are led by once-successful businessmen. Unlike in the past, not a single state-owned company made it into the top 10 this time.
10) HB Reavis Group
Business area: business and management consulting services
Revenue: €6.4 million
Loss: €30.4 million
The list begins with HB Reavis Group. According to the company’s marketing manager, Laura Lippová, it provides services to other companies within the group and does not own any real estate.
“The reported loss of €30 million in 2024 is of a technical nature and is related to the liquidation of the subsidiary HB Reavis Hungary Kft., which provided development services in Budapest,” Lippová explained, adding that HB Reavis decided to end its development and construction activities in the Hungarian capital eight years ago.
9) Železiarne Podbrezová
Business area: metallurgy
Revenue: €276.7 million
Loss: €30.8 million
Železiarne Podbrezová experienced one of the worst years in its modern history. In the annual report, CEO Vladimír Soták said that the company was heavily affected by high energy prices, especially for electricity and natural gas.
“These costs represented a significant burden on our finances, causing a loss that we were unable to eliminate despite austerity measures,” he said, adding that the energy exchange and electricity trading system are “set up poorly and unfairly.” Another factor, according to Soták, was the ongoing geopolitical instability caused by the war in Ukraine.
