Hungary Celebrates 35 Years of Market Economy and Democracy at Homm Kft.’s New Facility Inauguration

BUDAÖRS: The past 35 years have marked significant transformation in Hungary, bringing democracy, a market economy, and the rise of first-generation businesses, highlighted Tibor Navracsics, the Minister of Public Administration and Regional Development, during the inauguration of the new bus service and service center of Homm Kft. in Budaörs.

According to KDNP, Navracsics praised the dedication and perseverance of the Hungarian people, which he credited for the development of Hungarian-owned SMEs and large companies. These businesses, he noted, are competitive on an international scale and are robust participants in the market economy. During his speech, Navracsics remarked on the resilience of Homm Kft., stating that without the determination of its founders during critical periods over the past 35 years, a vital contributor to the Hungarian economy would be absent today.

The minister also emphasized the dual benefits that Homm Kft. has contributed to the local and European economies. He pointed out that
the company’s commitment to Europe has not only bolstered the Hungarian economy but also positioned it as a competitive player in the European market.

At the event, Mayor Tamás Wittinghof of the Association for the Development of Budaörs highlighted the symbiotic relationship between the city and Homm Kft., notably through the operation of the minibus network which significantly contributes to the city’s business tax revenue, helping enhance the quality of life for its residents.

Balázs Tóth, the managing owner of Homm, discussed the necessity of the new center, which was built over nearly three years with 10 percent of the HUF 2.5 billion investment supported by government funds. The expansion was crucial for the company’s growth, which was previously hampered by the limitations of the old headquarters.

Károly Homm, another managing owner, shared insights into the company’s growth, including the expansion to 420 buses and 650 employees, with facilities across various Hungarian cities and the new headquart
ers in Budaörs. He reflected on the challenging but ultimately successful past 35 years, during which the company emerged as a market leader in employee transport and became an official service center for Mercedes-Benz and Setra bus brands.

Public company data reveals that Homm Kft. achieved net sales of HUF nine billion and net profits of HUF 160 million in 2023, showing growth from the previous year’s HUF 8.7 billion in sales and HUF 156 million in profit after tax.