Siemens Mobility Kft., the Hungarian subsidiary of the German technology group Siemens, is developing next-generation IT solutions, with an investment exceeding HUF 6 billion (approx. EUR 15 million). The Hungarian government is supporting the project with HUF 1.5 billion (EUR 3.8 million) in funding. The investment will create 40 high-quality jobs.
At its Budapest-based research center, Siemens now employs over 400 specialists engaged in 70 high-tech railway engineering projects.
Over the past decade, the Hungarian government has supported more than 70 R&D projects with a total value of HUF 375 billion (approx. EUR 950 million) at current prices.
In the last fiscal year, Siemens Mobility Kft. reported a decline in revenues from HUF 12.9 billion (EUR 33 million) to HUF 11.5 billion (EUR 29.4 million). Net profit also dropped from HUF 855 million (EUR 2.1 million) to HUF 550 million (EUR 1.4 million). Nevertheless, management remains confident that the number of employees can be increased to 500 in the medium term.