Dijbeszedo targets 50pc revenue increase in five years - extended
MTI-Eco Econews articles, 18. október 2007

Budapest, October 18, 2007 (MTI-ECONEWS) - Hungary's Dijbeszedo Holding, currently providing billing services for Budapest utilities, targets a 50pc revenue increase in five years from 2006's HUF 8.1bn, CEO Zoltan Kovacs announced at a press conference in Budapest on Thursday.

Dijbeszedo plans to introduce its services in all of Hungary's major cities, expanding its receivable collecting and purchasing activities beyond the utilities sector and to expand abroad during the period. It aims to double output of its printing division, in part by making acquisitions.

Deputy-CEO Adam Kiss said Dijbeszedo plans to enter the Romanian market in the first half of next year. They would initally offer factoring services to banking and telecom service providers but are also examining the potential for collecting bills for Romanian utitilies.

The company also expects to grow because of the introduction of a fee processing system it developed itself. 75pc of consolidated turnover comes from collecting and processing utilities bills and preparing the related statements. Dijbeszedo processes some 15m bills for 750,000 households each year. In addition to billing activities, Dijbeszedo also operates as a factor, factoring some HUF 45bn of receivables in 2006 and projecting factoring stock of HUF 50bn-52bn for 2007. It also purchases overdue receivables of utilities, banks and telecom companies. Dijbeszedo was privatised in a MRP scheme in 1992 and is 100pc held by employees, with senior and middle-rank management holding a majority stake.

(HUF 100 = EUR 0.3993)