Alteo Circular Kft., which is responsible for circular economy activities (a subsidiary of the ALTEO Group, listed on the Budapest Stock Exchange), announced at the end of October 2026 that it had concluded a significant open-ended framework agreement for waste management with a market-leading multinational battery manufacturer. The agreement covers the processing of waste products from battery plants.
Alteo Circular Kft. expects the agreement with the unnamed battery manufacturer to generate annual revenue of HUF 3.8 billion (around EUR 10.5 million).
The deal is part of the “Strategy 2030,” under which Alteo Circular aims to become the leading player in waste management in Hungary by 2030. Through acquisitions (such as the takeover of ÉLTEX Kft. in 2025), Alteo has secured considerable capacity in the recycling and handling of lithium-ion battery waste in order to benefit from the forecast market boom in Europe.
Last year, Alteo Circular saw its revenue fall from HUF 27.1 billion (EUR 74.1 million) to HUF 22.9 billion (EUR 62.6 million), and its profit of HUF 855 million (EUR 2.34 million) turned into a loss of HUF 830 million (EUR 2.27 million). EBITDA amounted to HUF 2.6 billion (EUR 7.1 million) and is to be doubled in the long term.