Zsolnay Porcelanmanufaktura, a prominent porcelain and hard pottery producer in Hungary, recorded net sales revenue of HUF 840m (€3.09m) in 2009, down from HUF 1bn (€3.7m) in 2008, with operating losses of HUF 135m (€499,600) in contrast with a profit of HUF 84m (€310,600) from operation in 2008.
Despite the poorer financial outlook, the company intends to hire new workers. The company CEO, Peterne Katalin Marosy, explained that the new staff is needed in order to complete the outstanding orders from last year; however, she was not able to confirm any new orders from the second half of 2010. The company could not finance the technological upgrade at the new plant in Pecs, therefore manual work is needed for completing the outstanding orders, she added.
What is more, the city council of Pecs, which owns a 49% stake in the company, confirmed that the sale of the share package is still on the agenda. The City Council is looking for a minority investor with the aim of modernising the Zsolnay factory. A new tender will be announced during the summer of 2010, as the previous tender in July 2009 was declared unsuccessful
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