2016 CE Top 500 Report
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Central Europe Top 500 An era of digital transformation 2006-2016 We thank Rzeczpospolita daily for their contribution to the 2016 CE Top 500 ranking. Central Europe Top 500 | 2016 Ranking overview 10 The Index of Success 40 10 Years of sustainability 44 In Central Europe Digital Transformation 46 - the inescapable opportunity Top 500 ranking 49 Methodology 60 Leaders on impact of digitalization 63 Contacts 86 03 Central Europe Top 500 | 2016 Driven by digitalization 04 Central Europe Top 500 | 2016 Welcome to the Deloitte Central Europe Eastern Europe lagging some six to nine global economies, digitalization is the most Top 500 ranking and report for 2016 months behind their northern neighbors. powerful enabler with the greatest potential – the 10th edition of this key annual for driving positive change. publication, which provides a unique The overriding message from the analysis source of insight into the performance of is that throughout this entire period, GDP None of us can ignore the extent to which our region’s largest and most important growth in countries across our region has the continued success of Central Europe’s companies. consistently outpaced Western Europe. economy is interlinked with the digital This continues today, with 2016 GDP strategies of its leading companies. Rather than focus only on the economic predictions for Central Europe behind only So it is highly informative to read in this trends of the past 12 months, in light of the Asia Pacific region. report about the passionate intensity with the report’s anniversary, I would like to also which our region’s business leaders are look back at some of the significant events The positive forces contributing to this helping to shape their companies’ digital that have impacted Central Europe over healthy picture include the availability of EU futures. the past ten years. funds, inbound investment and slackening austerity programs. I also believe that Deloitte analysis illustrates the economic the onward march of digitalization swings the region has undergone through – a key focus of this report – is playing five distinct periods. At their simplest, these a very important role by enabling many of were the continuation of the economic our largest companies to become more boom that lasted in total from 2002 to 2008, efficient, more customer-focused and the global economic and financial crisis ultimately more successful. of 2009, followed in 2010 by a short-lived Alastair Teare recovery in our region’s northern Visegrad As one interviewee featured in this report Chief Executive Officer countries (Poland, the Czech Republic, told us, “The digital revolution has Deloitte Central Europe Slovakia and Hungary). Then, in 2011 the potential to completely transform market and 2012, we saw further weakening among conditions in different sectors of northern countries, while those to the south the economy faster than any other of the region started a mild recovery. development in the history of business.” And lastly, we saw the start of a considerably stronger economic period in 2013. This I couldn’t agree more. Of all continues today, with the countries of South the “megatrends” affecting how companies compete and perform in the regional and 05 Brochure / report title goes here | Section title goes here “The majority of countries in CE saw an increase in the rate of their economic growth. The only country whose economy declined in 2015 was Ukraine.“ The results of the 2015 ranking of the 500 Financial results from the first quarter of largest companies demonstrate that 2016 are less optimistic when compared the majority of countries in CE saw with last year. Even though the enthusiasm an increase in the rate of their economic is slightly tempered by the macroeconomic growth. The only country whose economy forecasts and data released by declined in 2015 was Ukraine (down by the International Monetary Fund, which 9.9 per cent), where enduring geopolitical predict a lower GDP growth in seven tension continues to influence countries represented in the ranking, it the country’s economy. should be emphasized that the first quarter does not necessarily have to be an accurate The median revenue of top 500 companies predictor for the entire 2016 year. in 2015 increased by 3.5 per cent (versus 0.3 per cent in 2014 and 0.0 per cent in 2013). This increase has been driven by all industries of the economy, except for energy and resources, where the revenue stagnated due to low resource prices. Tomasz Ochrymowicz In the CE Top 500 ranking approximately Partner, Financial Advisory 67 per cent companies recorded revenue Deloitte Central Europe growth while only 52 per cent showed growth in the previous year. The aggregate revenue reported by top 500 companies in the Central European region grew by 1.7 per cent year-on-year. The key three industries represented by the largest companies in the region (energy and resources, consumer business and transportation, and manufacturing) continue to account for over 90 per cent of the revenue generated. 06 10000010000010 00111 00010 1000 0000 000 00000010001001 010 010 1001 001 00 000 00 10 100 10 0 11 0 Central Europe Top 500 | 2016 00 01 00 00 00 10 1 00 0 00 1 00 0 00 1 10 0 00 0 0 0 0 1 0 0 0 0 0 0 1 0 11000001001000 0 0 0011 0001 0 1 000 000 0 0 01 100 0 0 000 1 0 0 0 01 0 1 0 01 00 0 0 1 0 0 1 0 1 01 0 0 0 0 0 0 0 0 0 00 0 1 0 0 1 0 0 0 1 1 00 00001 0 0 1110 0010 0 1 0 0 0 1 01 00 0 0 0 0 0 0 00 0010000001 00 0 0 0 0 0001 000 0 0 0 0 0 0 10 00 10 10 0 1 0 0 0 0 0 1 01 0 0 0 0 0 11 0 0 0 1 0 0 0 0 1 000010 1 0 0 0 010 00 1 0 0 0 1 0 1 0 00 0 01 0 0 1 1 0 00 00 0 0 0 1 1 1 0 0 0 10 0 1 0 1 1 0 0 0 1 1 00 0 0 0 0 0 1 0 0 0 1 0 1 01 0 1 0 0 0 0 0 0 0 000 0 0 0 1 0 1 01 0 0 0 0 1 0 0 00 00 0 0 0 0 1 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 1 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 10 0 0 0 1 1 0 0 0 0 0 000 000 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 00 0 0 0 0 0 0 0 1 0 0 1 0 1 0 01 1 0 1 0 0 1 0 0 1 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 000 1 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 1 1 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 1 0 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 1 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 1 1 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 1 0 1 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 1 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 0 1 1 0 1 0 0 1 1 0 1 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 0 0 1 0 1 1 1 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 1 0 0 1 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 1 0 1 1 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 0 1 0 0 1 0 0 1 0 0 1 0 1 0 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 0 1 "The best way to predict the future is to invent it." Alan Kay, computer visionary, 1971 07 Central Europe Top 500 | 2016 Key figures < Top industry by revenue generated: Energy and Resources /> EUR 251 billion < The minimum < Industry with revenue for a company the most significant to qualify for the CE increase in revenues: < Top industry by Top 500 ranking /> Manufacturing /> numbers of companies: Consumer EUR 473 million 7.4% Business and Transportation /> 0000100000001000000010000011110000010001001 183 < Median increase in < Median ROE for the region’s the gross written top 50 insurance premiums (GWP) for companies /> the region’s top 50 insurance 12.4% companies /> 333 (15.1% in 2014) 4.5% < Companies moving up /> 137 < Companies moving down /> < Median asset growth for the region’s top 50 banks /> 5.9% < Top country by (4.2% in 2014) revenue generated: Poland /> 38% < Consolidated revenue /> < Median ROE for the region’s top 50 banks: /> EUR 685 billion < Top country by