Kia's plant in Žilina reported a 33% drop in net profit to €451m last year, after a 13% decline in revenue to €7.1bn. Production fell 15% to 297,000 cars, the lowest since the COVID year of 2020, as the plant prepared the production of new models. Last year's results were relatively strong, partly because the plant was not hit by US tariffs, as it produces for the European market. Last year the plant launched production of the electric EV4 model, followed by the EV2 this year

Slovenské elektrárne began loading fuel into the fourth Mochovce nuclear power plant unit. Several more tests will follow, and the company expects the 471 MW unit to operate at 20% capacity by end-August and connect to the grid. The unit should reach full output at the turn of the year and next year will cover 13% of Slovakia's electricity consumption. Construction costs for both Mochovce units have risen to €6.7bn from the original €2.8bn. The third unit was originally due f

Tax and payroll levy revenues will fall €700m short of the approved state budget this year, according to a new tax forecast from the Finance Ministry. VAT collection will miss by €190m and corporate income tax by €460m, as new and higher taxes have weighed on both households and businesses. The shortfall complicates the government's position as it prepares the budget for the election year of 2027. (dennikN.sk, hnonline.sk)

Radoslav Bardún acquired the remaining 50% stake in laboratory diagnostics firm Medirex from German entrepreneur Hans Jakob Limbach for €75m. Of the total price, €30m represented the Czech subsidiary, which went to Limbach, with the remainder financed by a loan from SLSP and J&T Banka. Bardún now holds 90% of shares, with the remaining 10% going to Róbert Veselka, his business partner in other ventures including Nemocnica Malacky and Medicyt. The deal resulted in Medirex's ne

Porsche plans to shift production of the Cayenne model from its Bratislava plant to Leipzig in Germany, sources told the Frankfurter Allgemeine Zeitung. The move is conditional on Leipzig workers agreeing to significant wage cuts. Both combustion engine and electric versions would be relocated. (aktuality.sk)

Slovakia should scrap the financial transaction tax, eliminate the differential income tax rates applied to small and large firms, reduce the number of VAT rates, and introduce means-testing for energy price subsidies and the 13th pensions, according to the OECD's Economic Survey. The OECD also recommends improving public finances, projecting the fiscal deficit at 4.3% of GDP in both this year and next. Reforms to boost productivity and employment as well as support for educa

Domestically owned companies outperformed foreign-owned peers over the past seven years, according to a Crif analysis comparing 76,426 domestic and 6,502 foreign-capital firms. Gross profit at domestic companies grew from 2019, peaking at €2.8bn in 2023, while foreign-owned firms peaked at €1.7bn in 2022. The subsequent profit decline was steeper among foreign-owned ones, which also saw sharper revenue drops during the pandemic. Last year, domestic firms posted a net margin (

Volvo CEO Håkan Samuelsson acknowledged that the company's European plants could in coming years manufacture vehicles for fellow Geely Group brands Zeekr and Lynk & Co. Doing so would be faster and cheaper than building new plants in Europe. Chinese electric vehicles face steep EU tariffs, 29% in Geely's case, prompting several Chinese brands to accelerate local production within the bloc. Volvo aims to launch production at its new €1.2bn plant in Košice next year; media had

The tax authority FS is launching a systematic review of tax compliance among influencers and YouTubers. Several hundred individuals have been identified as potential tax dodgers. The FS is sending them warnings and calling for voluntary compliance before further action is taken. A common problem is that influencers report only cash income and overlook non-cash benefits such as hotel stays or gifted products. These benefits also count toward the turnover threshold that trigge

Fiscal consolidation measures are reshaping the relative attractiveness of different business structures. From July, many self‑employed workers who previously paid no payroll levies due to low income will become liable, as the income threshold falls from €9,144 to €2,877 annually. In the year to April, the number of self‑employed fell by 7,000 to 231,000. Employee headcount rose by 13,500 to 1.986m, even as health‑insurance levies for employees increased. The number of Ltd. c