Forbes.hu Feature

The construction industry is not typically considered an attractive sector for investors, but Épduferr operates in a recession-resistant niche within the market.

Founded in 2004 as a limited liability company, the business saw a major turning point in 2006 when Milán Palkovics, the current majority owner and chairman, joined the company. Initially focused on steel structure manufacturing and construction, the firm pivoted during the financial crisis and found its competitive edge in general contracting, particularly for large multinational corporations.

Épduferr has been involved in the construction and renovation of numerous Spar and Tesco Express stores. This market is financially stable, as clients are reliable payers, but the execution deadlines are strict. Palkovics proudly notes that the company has never missed a deadline to the point of incurring a penalty.

Retail chains continue expanding and renovating even during economic downturns, ensuring a steady revenue streamfor Épduferr. By consistently reinvesting profits, the company has gradually increased its project capacity.

In 2013, Épduferr diversified beyond building materials trading, experimenting with ventures such as a tobacco shop and a local radio station, but these unrelated businesses were quickly phased out to refocus on core operations.

Owners: Furda Vanda and Milán Palkovics

Photo Credit: László Sebestyén

Épduferr reached 5 billion HUF in revenue in 2017 and has since continued to expand. Last year, the company developed a comprehensive growth strategy, and this year, it officially launched two new business divisions: steel sheet processing and steel trading, in addition to general contracting and building materials trading.

When selecting new business divisions, self-sustainability and synergy with core operations have become key criteria. These new divisions are not only designed to be profitable on their own but also to supply materials at favorable prices for the general contracting business, thereby improving efficiency. For example, the steel trading division has grown from zero to 400 million HUF in revenue in just six months—excluding internal company usage.

For the steel sheet processing business, Épduferr secured funding through successful grant applications, enabling the acquisition of advanced machinery. Soon, the company will begin semi-finished and finished component manufacturing, supporting its export ambitions.

Today, Épduferr is no longer just a general contractor—it operates as a diversified trading, service, and manufacturing company.

Stock Market Expansion and Capital Increase

Currently, Milán Palkovics and Furda Vanda are the company’s two shareholders, with ownership stakes of 50.35% and 49.65%, respectively.

The company’s private capital increase is set to close this Friday, with a plan to raise 1 billion HUF in fresh capital. This funding will support faster growth and allow Épduferr to take on larger projects.

Stock Trading Timeline

If all goes according to plan, trading of Épduferr shares on the Budapest Stock Exchange is expected to begin by the end of January.