Budapest taxi companies joyful as revenues shoot up

Last year was a particularly good one for taxi companies as far as revenues go, while the market got increasingly concentrated with new competitors arriving on the scene.

As napi.hu reports, Budapest’s taxi scene is increasingly becoming concentrated as a result of the Hungarian government’s decision to keep tariffs fixed. There are ten taxi companies registered to the Budapest Transport Centre (BKK) who reported net revenue of 4.8 billion HUF in 2018: keeping 567 million HUF after tax. This is an increase of 800 million HUF from the previous year. 

Taxi companies get income via their drivers which means that the total amount of money spent on taxis is actually a lot higher. 

The big guns

The biggest actor in the industry is Főtaxi Zrt, which recorded a revenue of 2.43 billion HUF: more than half of the entire revenue reported by all taxi companies. Főtaxi saw an 11% increase in its income while its expenditure also rose to result in the company reporting losses compared to the previous year.  

6×6 Taxi Kft also had reasons to smile as the company’s income increased by more than 43% and reached 659.4 million HUF. 6×6 acquired another asset in the form of Taxi Plus, a rival company it bought in 2017, further boosting its presence on the scene.