Fifteen family businesses with revenues over €5 million posted growth of more than 50 percent in 2024 with one - Pressburg Mint - registering a stunning expansion of more than 400 percent.
And with that firm having recently significantly expanded its production capacity, the chances are high that it will see further robust growth in the near future too.
However, year-on-year revenue growth in the family business sector between 2023 and 2024 was marginal, reaching 0.5 percent across more than 1,000 monitored companies.
According to Slovak legislation, family businesses are defined as firms in which families own a majority stake and at least two family members either work directly in the company or hold management positions.
15. AUTO – VALAS GROUP
Family: Valas; Region: Košice
Annual revenue growth: 50.03%
Revenue 2024: €31,113,025
Revenue 2023: €20,737,594
The AUTO-VALAS family business, from the Spiš region, has been selling cars in eastern Slovakia for more than 30 years. Štefan Valas, director and co-owner of the company founded by his parents, says that while still the same family business, the company has undergone significant changes in recent years. Currently, the firm is focusing on the Kia, Toyota and Lexus brands. It runs two branches in Košice and one in Smižany.
14. ELSPOL - SK
Family: Šimurda; Region: Žilina
Annual revenue growth: 50.87%
Revenue 2024: €14,545,502
Revenue 2023: €9,640,847
Martin Šimurda and wife Renáta’s firm ELSPOL-SK celebrated its 20th anniversary in mid August. The company looks to provide a wide range of services, primarily for the energy industry, as well as for development and investment projects. It offers a comprehensive package of services from consulting, preparation of project documentation, supervision and management of engineering activities, project implementation, to final approval.
13. TERMOSTAV - MRÁZ
