E2 Hungary is a key player of the Hungarian corporate electricity and natural gas market, a joint venture owned in 50 percent by Magyar Telekom and MET Group respectively, which, however, operates independently.
The Group was founded in 2007 in Hungary, today it is an energy trading company with presence in ten countries (Austria, Croatia, Hungary, Romania, Russia, Serbia, Slovakia, Switzerland, Turkey and the United Kingdom). The core activity of the company is natural gas trading, but in addition to that it is also involved in electricity and mineral oil trading and production of electricity as well. The Company Group performs trading activities in the gas markets of 19 countries, its revenues in 2015 amounted to 4.4 billion EUR. It obtained an outstanding position in terms of its traffic at VTP Austria - the largest gas exchange of Central-Eastern Europe. It is positioned among the top 20 in the joint ranking of TTF Netherlands (which is the largest gas exchange in the Continental Europe) and NCG of Germany (NetConnectGermany virtual trading point).
Magyar Telekom is the largest telecommunications provider in Hungary, offering the entire scope of telecommunications and info-communications (ICT) services including land line and mobile telephones, data transmission, non-voice, IT and systems- integration services. Magyar Telekom is a majority owner of Makedonski Telekom the largest fixed line and mobile service provider of Macedonia. Deutsche Telekom AG is the majority owner of Magyar Telekom (with 59.21% share).