Same in Hungarian. One funny example is "főkábel" (fő+kábel, main cable) vs. "fókabél" (fóka+bél, seal intestine). Still, the intended meaning is almost always easy to guess.
Hungarian is also redundant enough that you can even replace all vowels with just one and still be understandable. Most of the meaning is carried by the consonants. E.g. "Szia én vagyok Péter, hogy vagy?" -> Szii, in vigyik Pitir, higy vigy. (sounds obviously wrong, but very understandable) Retaining the vowels but collapsing all consonants to one would be more destructive to the meaning.
Hungarian is also redundant enough that you can even replace all vowels with just one and still be understandable. Most of the meaning is carried by the consonants. E.g. "Szia én vagyok Péter, hogy vagy?" -> Szii, in vigyik Pitir, higy vigy. (sounds obviously wrong, but very understandable) Retaining the vowels but collapsing all consonants to one would be more destructive to the meaning.