Hungarian construction companies in Germany

Hungarian construction companies (SMEs) had estimated revenue of EUR 350m from operations in Germany in 2011, up almost 10pc from 2010, and could achieve 7% growth this year, according to a survey by the National Association of Hungarian Construction Enterprises (EVOSZ). An average 500 companies with about 8,000 employees work in Germany, the survey based on interviews with 250 companies shows.

Half of the companies’ revenue came from Germany. 30% of the companies said they had outstanding debt in Germany, but this only accounted for 5.8% of their revenue, far less than the percentage typical in Hungary. 62% of the companies said their market position in Germany improved over the past twelve months. EVOSZ made the survey on the first anniversary of the phasing out of limitations on Hungarian businesses’ construction work in Germany.