Romania is third with 60 companies in Coface Top 500 CEE ranking

Romania has 60 brands in the top 500 companies in Central and Eastern Europe, according to the ranking conducted by the consultancy firm Coface. Romania ranks third in the list, following Poland and the Czech Republic. 

Coface has released its 15th annual study of the top 500 companies in Central and Eastern Europe. The "Top 500 CEE," cited by Economedia.ro, ranks businesses by turnover and analyzes additional factors such as the number of employees, the operating framework of companies, industries, markets, and Coface credit ratings. The economic performance of the 500 companies serves as a representative indicator of market trends throughout the region. 

The total turnover of the 500 companies in the region increased by 39.8% to EUR 1.1 trillion. In addition, the 500 companies employed 2.3 million people (+3.5% compared to the previous year - 2021).

"The macroeconomic environment and high costs have provided fertile ground for turnover growth. The results of the ranking of the largest companies in the region confirm this trend," said Jarosław Jaworski, CEO of Coface Central and Eastern Europe, explaining the positive picture of the study. 

The turnover of Romanian companies increased by 44.1% to EUR 112.2 billion, while net profit surged by 142.5%, surpassing all other countries at this level.

Minerals, chemicals, oil, plastics, and the pharmaceutical industry constitute the largest sector, contributing the highest share to the generated turnover (32.0%). This is followed by utilities and public services, as well as non-specialized trade, accounting for 18.7% and 16.3% of turnover, respectively. 

According to the ranking, Polish oil refiner PKN Orlen remains unbeaten in first place, significantly strengthening its position with a 111% increase in turnover after a 52% growth in the previous year. Other companies such as RWE from the Czech Republic (2nd place), the multinational oil and gas company MOL Hungary (3rd place), the Hungarian company MVM Energetika (4th place), Skoda Auto from the Czech Republic (5th place), retailer Jeronimo Martins Polska (6th place), and the Polish energy company PGE (7th place) have maintained their positions at the top of the ranking.

All these companies reported higher turnover in 2022 compared to the previous year, with electricity trading companies like RWE and MVM even reporting a three-digit revenue growth. In contrast, the automotive sector was less represented in the top 10 in this edition of the ranking. 

Some companies have outperformed their competitors and demonstrated superior performance compared to the previous year, such as Bulgarian energy complex Maritsa Iztok 2 (ranked 139th), which advanced 256 places due to a 199% increase in turnover; the Croatian company Petrol (ranked 263rd), which climbed 231 positions; the Lithuanian company Ignitis UAB (ranked 80th), which rose 214 places; and the Romanian company Tinmar Energy (ranked 165th), with a +202 position increase in the ranking. 

Rising commodity prices have positively impacted the turnover of companies producing and trading energy. Therefore, the utility and public services sectors, as well as minerals, chemicals, oil, plastics, and pharmaceuticals, recorded the highest turnover growth in 2022, at 64.1% and 60.9%, respectively. Also, agricultural commodity and input prices increased, leading to double-digit turnover growth in all sectors except for construction, which reported an 8.1% increase.

The minerals, chemicals, oil, plastics, and pharmaceutical sectors are once again the best represented in the Top 500 ECE ranking. This sector experienced the highest growth in net profit (+100.5%) due to the rising prices of oil and natural gas, presenting profit-generating opportunities through refining margins despite ongoing challenges. 

The utility and public services sector moved from fourth place to second thanks to exceptional revenue growth (+64.1%). Compared to the previous year (2021), this sector increased its representation in the current ranking by 15 companies, achieving the highest growth among all sectors. Many utility and public services companies are state-owned or have the state in their ownership structure. 

Although the automotive and transportation sector remains among the top sectors, it faced challenges, including a decrease in demand due to the pandemic and supply chain disruptions, leading to reduced revenues despite some growth in turnover and profits. The industry remains dominant in four countries: the Czech Republic, Hungary, Romania, and Slovakia.

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(Photo source: Natanael Alfredo/Dreamstime.com)