MVM
- Company typePrivate
- Founded1963
- HeadquartersSzentendre, Hungary
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
MVM firmographics
Firmographics- Name
- MVM
- Legal name
- MVM Zrt.
- Website
- https://mvm.hu/
- Company type
- Private
- Founded year
- 1963
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Ownership category
- akta.pro rank
MVM industry classification
Industry- Product category
- Integrated Energy Services
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Nuclear Electric Power Generation (221113), Solar Electric Power Generation (221114), Steam and Air-Conditioning Supply (221330), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)
- SIC
- Electric, Gas & Sanitary Services (4900), Cogeneration Services & Small Power Producers (4991), General Industrial Machinery & Equipment (3560)
- akta.pro primary industry
- Distribution Grid Asset Management (MV/LV) (EUAEAMAD)
- akta.pro secondary industries
- Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro) (EUAMAGAB), Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB)
Keywords
Where MVM is headquartered
LocationHeadquarters
- HQ city
- Szentendre
- HQ country
- Hungary
- HQ region
- Europe
Offices11 records
Markets served
MVM business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Infrastructure, Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Electricity Generation: Power generation through nuclear (Paks), gas, hydroelectric, and renewable sources including solar.
- Electricity and Gas Distribution: Operating distribution networks for electricity and gas through subsidiaries including MVM Démász, MVM Égáz-Dégáz, MVM Émász, MVM Főgáz.
- Retail Energy Sales: Selling electricity and gas to retail customers through brands including MVM Next, MVM Optimum, and innogy Česká republika.
- Wholesale Energy Trading: Energy trading through MVM ONEnergy Zrt.
- Gas Storage: Natural gas storage through Magyar Földgáztároló Zrt.
- System Operation: Transmission system operation through MAVIR ZRt.
- Industrial Cooling Systems (via MVM EGI): Design, manufacture, and delivery of cooling systems and ash handling solutions for power plants and industrial applications globally.
- Telecommunications Services: Telecommunications services through MVM Mobiliti Kft. and other subsidiaries.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Residential and business energy customers managed through digital platforms and online customer service |
Go-to-market motion4 records
Distribution channels7 records
Marketing channels5 records
MVM product offering
Product offeringCore offering
MVM is a 100% state-owned Hungarian energy group that provides electricity and natural gas to residential, business, and industrial customers across Hungary, while also operating nuclear, gas, hydro, and renewable power generation, transmission and distribution networks, and wholesale energy trading. Through its MVM EGI subsidiary, MVM designs, manufactures, and supplies industrial dry, wet, and hybrid cooling systems and ash handling solutions for power plants worldwide, including nuclear and SMR applications.
Product overview
MVM is Hungary's largest state-owned energy group with revenues exceeding €5.5 billion annually. The company operates across the full energy value chain through its diverse portfolio of subsidiaries, offering nuclear and thermal power generation, electricity and gas distribution, energy trading, and gas storage services. The MVM Group includes specialized divisions for cooling technology solutions (MVM EGI) providing industrial cooling systems for power plants and data centers, manufacturing (MVM OVIT) producing steel structures and power plant equipment, nuclear maintenance services, and telecommunications and mobility services. The product portfolio spans from core energy utilities to specialized industrial technologies including dry/wet cooling systems, air-cooled condensers, ash handling solutions, and energy storage projects.
Differentiator
Problem solved
Functional benefit
Brands
- MVM Next: Energy trading and retail services brand
- MVM Balance
- MVM Optimum
- Heller System
- Circumix
Products and services
- MVM Next Energy Retail Supply Retail electricity and natural gas supply services for residential, SMB, and mid-market customers in Hungary through the MVM Next Energiakereskedelmi Zrt. brand, with online customer portal and mobile app service.
- MVM Paks Nuclear Power Generation Operation of the Paks Nuclear Power Plant, Hungary's only nuclear facility with four reactors producing approximately 243 MW each, operated through MVM Paksi Atomerőmű Zrt.
- MVM Electricity and Gas Distribution Networks Regional electricity and natural gas distribution network services through MVM Démász, MVM Égáz-Dégáz, MVM Émász, and MVM Főgáz, covering customers in Western Hungary (Dunántúl) and Eastern Hungary (Tiszántúl).
- Hungarian Natural Gas Storage Underground natural gas storage services provided by Magyar Földgáztároló Zrt., ensuring gas supply security for Hungary.
- MAVIR Transmission System Operation High-voltage electricity transmission and grid system operation services for Hungary through MAVIR ZRt., providing grid balancing and aFRR capacity services.
- MVM ONEnergy Wholesale Trading Wholesale energy trading services on Hungarian and regional energy markets through MVM ONEnergy Zrt.
- MVM EGI Industrial Cooling Systems Design, manufacture, and global delivery of dry, wet, and hybrid industrial cooling systems, air-cooled condensers, and ash handling solutions for power plants, nuclear facilities, SMRs, and data centers, with manufacturing facilities in Hungary and Wuquing, China.
- Heller Indirect Dry Cooling System
- Circumix Ash Handling System
- MVM OVIT Power Plant Equipment Manufacturing
- MVM Sopronkövesd Battery Energy Storage
- Mátra Hydrogen-Ready CCGT Power Plant
- MVM Kiskunhalas Geothermal Development
- MVM Mobiliti E-Mobility Services
- MVM NET Telecommunications Services
Quantifiable outcome
- Covers ~2.5 million customers following E.ON acquisition
- +3 more outcomes
Companies that use MVM
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles4 records
MVM technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
MVM partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- JDEnergycoreJDEnergy commissioned its first overseas 11 MW/22 MWh utility-scale battery energy storage project for MVM in Sopronkövesd, Hungary. The system passed all grid connection tests and received TÜV Rheinland certification and MAVIR's aFRR accreditation. Hungarian Energy Minister Csaba Lantos attended inauguration, calling it an important achievement in Chinese-Hungarian energy cooperation.
- Uzbekistan Atomic Energy Agency (Uzatom)coreHigh-level working meeting between Uzbekistan's Uzatom and Hungary's MVM EGI Zrt. to discuss contractual and technical framework for Uzbekistan's first nuclear power plant. Discussions focused on advancing project progress, implementing MVM EGI's advanced dry cooling technology, and exploring opportunities to localize production of specialized nuclear equipment within Uzbekistan. Building on framework established during President Mirziyoyev's visit to Hungary in May 2025.
- BPminorBP sold 10% shareholding in Shafag Jabrayil Solar Limited to MVM Energetika Zrt., welcoming Hungarian energy company as new partner in Azerbaijan's 240MW solar project in Jabrayil. Following transaction: BP 40.01%, SOCAR Green 39.99%, Azerbaijan Business Development Fund 10%, and MVM 10%. Construction underway with completion targeted for 2027, expected to generate 500GWh renewable energy annually.
- Elsewedy ElectriccoreElsewedy Electric Power Systems Projects (PSP) awarded EPC contract by MVM Mátra Energia Zrt. for €700 million hydrogen-ready CCGT unit at Mátra Power Plant. Consortium includes PSP, Status KPRIA, and West Hungária Bau. Project represents largest combined-cycle power generation development in Hungary in decades.
- E.ON Hungária Zrt.coreMVM Zrt. and E.ON Hungária Zrt. signed agreement for MVM to acquire E.ON Áramszolgáltató Kft., expected to close in spring 2022, affecting approximately 2.5 million customers in Western Hungary (Dunántúl) and Eastern Hungary (Tiszántúl). Transaction supports MVM's long-term strategy. Does not affect customers with competitive market contracts with E.ON Hungária Group.
Scale indicators17 records
Recent moves8 records
Expansion highlights7 records
MVM competitors and assessment
Company assessmentBroad incumbents
- GEA Group: Former owner of EGI before the 1992 privatization through 2014. Remains a major supplier of cooling, heat-transfer, and process technology to power and industrial customers globally — directly comparable to MVM EGI's portfolio and customer base.
- RWE AG: German integrated utility with large renewable buildout, generation, and trading. Comparable as a European incumbent expanding across geographies and asset classes, but with a broader, more internationally diversified portfolio than MVM's Hungary-centric base.
- E.ON SE: Major European utility that divested its Hungarian distribution arm (E.ON Áramszolgáltató) to MVM in 2022. Closely comparable in network operations, customer-facing energy services, and transition strategy, though at much greater scale and geographic diversity.
Direct peers
- ČEZ Group: Czech integrated utility operating nuclear (Dukovany, Temelín), coal, hydro, and renewables plus retail. Closest functional peer to MVM by asset mix, geography (Central Europe), and customer base; Czech operations overlap MVM's innogy česká republika retail subsidiary.
- PGE Group (PGE Polska Grupa Energetyczna): Poland's largest integrated power producer and supplier with generation, distribution, and retail. Comparable in scale (multi-GW capacity, millions of customers), regulated asset base, and CEE transition profile.
- MOL Group: Hungary's other large state-influenced integrated energy group with downstream and upstream operations plus retail. Directly comparable as a Hungarian integrated energy champion competing for similar customers, capital, and political alignment.
- SPX Technologies (Dry Cooling / Heat Exchanger business): Global industrial cooling and heat-exchange equipment supplier for power generation (successor to Balcke-Dürr/SPX Dry Cooling). Direct competitor to MVM EGI in dry, wet, and hybrid cooling systems for power plants, including nuclear.
- EPH (Energetický a průmyslový holding): Czech-based private energy conglomerate with coal, gas, and renewable generation across CEE. Highly comparable to MVM in Central European footprint, asset diversity, and cross-border expansion strategy.
Regional players
- Verbund AG: Austrian integrated utility with large hydro, transmission, and retail operations. Comparable in hydro and renewable generation plus regulated T&D, though concentrated in Austria rather than Central/Eastern Europe.
- INA Group: Croatian integrated oil & gas and energy group with refining, retail, and renewables. Comparable regional CEE peer with state-influenced ownership and similar customer/market profile.
Market position
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
MVM social profiles
Digital presenceMVM compliance and trust
Trust signalCompliance4 records
MVM financial estimates
Financial estimateRevenue estimate
Valuation estimate
MVM leadership team
Management profileNumber of profiles
Profiles1 record
MVM subsidiaries and ownership
Company hierarchySubsidiaries22 records
MVM funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MVM M&A and investment
M&A and investmentM&A4 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MVM
What does MVM do?
MVM is a 100% state-owned Hungarian energy group that provides electricity and natural gas to residential, business, and industrial customers across Hungary, while also operating nuclear, gas, hydro, and renewable power generation, transmission and distribution networks, and wholesale energy trading. Through its MVM EGI subsidiary, MVM designs, manufactures, and supplies industrial dry, wet, and hybrid cooling systems and ash handling solutions for power plants worldwide, including nuclear and SMR applications.
Is MVM a public or private company?
MVM is a private company. It is classified as state government owned and is currently operating.
When was MVM founded?
MVM was founded in 1963. It employs 5,001 to 10,000 people.
Where is MVM based?
MVM is headquartered in Szentendre, Hungary, in the Europe region.
How does MVM make money?
Eight revenue lines are on record. Electricity Generation is the primary driver. The others are electricity and Gas Distribution, retail Energy Sales, wholesale Energy Trading, gas Storage, system Operation, industrial Cooling Systems (via MVM EGI) and telecommunications Services.
Who are MVM's main competitors?
Broad incumbents on record are GEA Group, RWE AG and E.ON SE. Direct peers are ČEZ Group, PGE Group (PGE Polska Grupa Energetyczna), MOL Group, SPX Technologies (Dry Cooling / Heat Exchanger business) and EPH (Energetický a průmyslový holding). Regional players are Verbund AG and INA Group.
Does MVM have an API?
No public API is recorded for MVM.
What industry is MVM in?
MVM's product category is Integrated Energy Services. Its primary akta.pro industry code is EUAEAMAD, Distribution Grid Asset Management (MV/LV), with a secondary code of EUAMAGAB, Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro). Its NAICS code is 2211 and its SIC code is 4900.