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AMSTERDAM - Gorenje Magyarország Kft., a household appliances manufacturer and Hisense Group subsidiary, has signed a long-term lease agreement with CTP for a new 15,000 square meter logistics facility at CTPark Budapest West in Hungary, according to a press release statement. CTP, currently valued at $10.2 billion market capitalization according to InvestingPro, has demonstrated strong financial performance with a 22.2% revenue growth over the last twelve months.
The facility, currently under construction, is scheduled for completion toward the end of 2025. It will serve as Gorenje’s central logistics and storage hub for its Hungarian operations.
This agreement expands an existing partnership between the companies, as Gorenje already operates a facility at CTPark Budapest West. The company cited the park’s transportation infrastructure and property management services as factors in its decision to expand at this location.
The new facility aims to meet BREEAM Excellent certification standards, featuring energy efficiency measures including heat pumps, solar power, and specialized insulation. A green wall on the building’s exterior will also be incorporated to promote biodiversity.
CTPark Budapest West is located adjacent to the M1 motorway, approximately 19 kilometers from Budapest. The industrial park includes CTP’s first Clubhaus in Hungary, a mixed-use concept providing spaces for meetings, flexible working, and events.
CTP, which describes itself as Europe’s largest listed owner, developer, and manager of logistics and industrial real estate by gross lettable area, owns 13.5 million square meters of gross lettable area across 10 countries as of June 30, 2025.
Gorenje Magyarország Kft., founded in 1991 and headquartered in Törökbálint, Hungary, specializes in electronic household appliances.
In other recent news, CTP NV reported strong financial results for the second quarter of 2025. The company’s gross rental income rose by 14.4% year-over-year, reaching 367 million euros. Additionally, adjusted EPRA earnings increased by 12.2% to 199.3 million euros. These results highlight CTP NV’s robust growth and operational performance. Despite these positive financial metrics, Kepler Cheuvreux downgraded CTP NV’s stock rating from Buy to Hold. Interestingly, the downgrade came alongside a price target increase to 20.40 euros from 19.90 euros, marking a 2.5% rise. Kepler Cheuvreux noted CTP NV’s strong operational performance, with the company signing 1 million square meters of leasing year-to-date, an 11% increase from the previous year. The leasing activity also saw an average rental uplift of 5%.
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