The impact of environmental changes on the revenues and costs of Hungarian CEP companies

Abstract

The emergence and steady growth of e-commerce and its impact are of particular importance for many sectors of the Hungarian economy. One such sector is CEP, i.e., Courier, Express, Parcel. CEP is one of the sectors which, in addition to e-commerce, have been positively affected by the measures taken under COVID-19. In our research, we are looking at the impact of environmental changes in recent years on the revenues and costs of three leading Hungarian companies with an international background. The aim of the research is to describe the changes in the financial situation of these Hungarian companies. We have used publicly available financial data. The CEP market is characterised by the outsourcing of services. This is confirmed by their cost structure. Due to this high level of outsourcing, changes in the global market (such as the increase in fuel prices or the EU's 2019 motor vehicle regulation) have not directly affected companies' costs. It was also found that companies were able to be very flexible in their pricing relative to their costs.