MVM

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

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

• Integrated energy services
• Electricity distribution
• Natural gas supply
• Nuclear power generation
• Industrial cooling systems

Headquarters

HQ city

Szentendre

HQ country

Hungary

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Generation: Power generation through nuclear (Paks), gas, hydroelectric, and renewable sources including solar.
2. Electricity and Gas Distribution: Operating distribution networks for electricity and gas through subsidiaries including MVM Démász, MVM Égáz-Dégáz, MVM Émász, MVM Főgáz.
3. Retail Energy Sales: Selling electricity and gas to retail customers through brands including MVM Next, MVM Optimum, and innogy Česká republika.
4. Wholesale Energy Trading: Energy trading through MVM ONEnergy Zrt.
5. Gas Storage: Natural gas storage through Magyar Földgáztároló Zrt.
6. System Operation: Transmission system operation through MAVIR ZRt.
7. Industrial Cooling Systems (via MVM EGI): Design, manufacture, and delivery of cooling systems and ash handling solutions for power plants and industrial applications globally.
8. Telecommunications Services: Telecommunications services through MVM Mobiliti Kft. and other subsidiaries.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels5 records

Core 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

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• JDEnergycoreTechnology or Integration · 11 May 2026JDEnergy 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)coreStrategic or Co-development Partner · 16 February 2026High-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.
• BPminorStrategic or Co-development Partner · 11 February 2026BP 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 ElectriccoreChannel Partner/ Reseller/ Distributor · 1 February 2026Elsewedy 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.coreStrategic or Co-development Partner · 23 February 2022MVM 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

Broad 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

• Facebookfacebook.com/mvmenergetika
• LinkedInlinkedin.com/company/mvmenergetika
• Instagraminstagram.com/mvm4you

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries22 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MVM