Pick Szeged, the Hungarian salami producer, reported net sales of HUF 86.2 billion in 2025, up 1% from the previous year, according to its annual report on the Budapest Stock Exchange. Exports accounted for 25% of turnover, as after-tax profit slipped 4% to HUF 6.5 billion.
Pick Szeged remains a branded powerhouse, with over 60% of sales from premium categories like salami, Parisian and pâté, bolstered by strong export demand. Domestic growth has been weaker than the broader meat market, but pricing power has offset volume declines.
The company employs about 1,521 staff and operates a vertically integrated model within Bonafarm group, sourcing much of its pork from group slaughterhouses like MCS. EBITDA margins have fluctuated but are expected to recover toward 9% as inflation eases.
Investment backdrop
Pick Szeged’s results come as Bonafarm ramps up capex to HUF 178 billion over 2024-2026, including expansions in meat processing. Scope Ratings maintains a BB/Stable outlook, citing pricing power but noting leverage risks from higher investments.
Germany remains the top export destination, with significant shipments to CEE neighbors and Scandinavia. The firm has invested in capacity, including a new plant to boost salami output by 30%.
