Southeast Europe's Biggest Companies
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TOP 100 SEE SOUTHEAST EUROPE’S BIGGEST COMPANIES 2016 NINTH ANNUAL EDITION Evaluates the media image of an entity such as an organisation, an industry, a product/ brand, a campaign, a country or a person Measures the eectiveness of communications eorts and helps PR and marketing professionals plan and enhance their strategy Serves as a powerful decision-making tool To download free sample reports, visit www.perceptica.com Perceptica is a member of AMEC – the global communications measurement and evaluation organisation. FOR THOSE WHO DON’T FORGET HOW MANY New FATES DEPEND service model and specialized ON THEM centers for the Business Clients of DSK Bank We know that behind any business there is a person who has put his mind and heart in it. That is why we offer custom-made solutions for you and your business. You are welcome to visit our business centers where you can expect a personal approach and the professional banking services that you deserve. For more information and consultation: www.dskbank.bg • Call center: 0700 10 375 • *BDSK (*2375) contents TOP 100 Editor-in-chief: Siana Mishkova 6 companies Editors: Nevena Krasteva, Valentina Gerasimova Analysts: Valentin Stamov, Tsvetan Ivanov, Deyan Matov, Nina Gaydarska TOP 100 Authors: Marina Mikhaylova, 14 banks Ivaylo Mihaylov, Petar Galev Marketing & sales: Yordanka Pencheva, Maria Ivanova, Misho Hristov, Raya Yanakieva TOP 100 Design & prepress: Madlen Nacheva, Krustyo Burski, 17 insurers Katia Nedyalkova Print: Alliance Print TOP 100 SeeNews, SEE TOP 100 and their logos are registered trademarks of AII Data Processing Ltd. 23 per capita All rights reserved. Re-publication or re-distribution of SeeNews content, including by framing, is strictly prohib- ited without the prior written consent of SeeNews. TOP 100 24 most dynamic TOP 100 30 listed companies TOP 100 37 industries SEE Contact us: innovations 64 Kiril i Metodii Str, 1202 Sofia, Bulgaria 54 tel: +359 2 8012 610/611 email: [email protected] top100.seenews.com SEE 56 colours @SeeNewsCompany SeeNews SEE SeeNews 60 landscape Disclaimer: SeeNews is not liable for the content of the published advertisements. Full liability rests with the advertisers. 3 editorial Letter from the editor For nearly a decade SeeNews has been following the corporate sector of Southeast Europe (SEE) as it zigzags through the rough local economic terrain. Weak institutions, poor infrastructure and excessive dependence on foreign markets have remained constant elements of the picture. To these, the past year added political instability and election-related mac- roeconomic weaknesses in some countries, alongside new geopolitical pressures – an intensifying refugee flow, Britain's decision to exit the EU, and strained relations between the bloc and Russia, a traditionally major investor and trading partner for the region. To help the SEE countries tackle these challenges – both external and domestic – international financial institutions such as the IMF and the EBRD, as well as the EU itself, have been pouring cash into the region, while at the same exerting pressure for reforms and improvement of the business climate. All in all, economic activity in SEE picked up and this is eventually starting to show in the companies' bottom lines. The combined revenues and earnings of the entrants in the TOP 100 SEE companies ranking edged up in 2015, following a decline a year earlier. The increase, however, remained below the region's average GDP growth, suggesting that corporate majors have been slow to adapt to the chang- ing environment. From a positive perspective, however, it points to an untapped potential for growth. Expectations that the corporate sector is headed for better times are fur- ther underpinned by projections that economic growth will strengthen in the coming years. Combined with the ongoing EU integration and inflow of EU funds, more efficient judiciary and improved business environment, this will provide a solid base for higher revenues and profitability. The economic pick-up has been a tailwind for one industry in particular and that is retail and wholesale, which comes as little surprise given that household consumption was the main driver of economic growth in the region. The winner of the TOP 100 SEE ranking also is only too logical – a com- pany based in the region's biggest and fastest growing economy, in a sector that has been making the best of Southeast Europe's cheap skilled labour and proximity to global markets. And an illustrative example of what Tomasz Telma, IFC regional director Europe and Central Asia, says in an exclusive interview for this publication: “Some countries can be a little bit more deliberate and persistent in going through the mapping of their economy and trying to figure out how to make themselves attractive to those foreign investors who are making choices.” Siana Mishkova Editor-in-chief 4 TOP 100 companies in millions of euro Total revenue Total revenue Y/Y change in Net profit/ Net profit/ Rank by net 2015 2014 Company name Country Industry 2015 2014 revenue Loss 2015 Loss 2014 profit/loss 1 1 Automobile-Dacia SA Romania Automobiles 4 290 4 247 1.98% 99.0 82.9 14 2 2 OMV Petrom SA Romania Petroleum/Natural Gas 3 554 4 144 -13.43% -139.4 409.9 97 3 6 OMV Petrom Marketing SRL Romania Petroleum/Natural Gas 3 322 3 234 3.68% 73.2 68.0 22 4 4 Petrol d.d. Slovenia Petroleum/Natural Gas 3 114 3 327 -6.39% 30.1 41.1 33 5 3 Lukoil Neftochim Burgas AD Bulgaria Petroleum/Natural Gas 2 614 3 335 -21.61% -62.4 -272.1 93 6 5 INA d.d. Croatia Petroleum/Natural Gas 2 328 2 900 -19.97% -157.5 82.4 98 7 8 Aurubis Bulgaria AD Bulgaria Metals 2 221 2 172 2.22% 112.0 61.1 13 8 7 Rompetrol Rafinare SA Romania Petroleum/Natural Gas 2 167 3 000 -27.09% 18.6 -239.8 47 9 11 Kaufland Romania SCS Romania Wholesale/Retail 2 038 1 795 14.63% 143.4 91.4 7 10 12 Konzum d.d. Croatia Wholesale/Retail 1 957 1 756 11.05% 30.7 14.2 32 11 10 Rompetrol Downstream SRL Romania Petroleum/Natural Gas 1 845 2 126 -12.40% -30.7 9.5 90 12 21 GEN-I d.o.o. Slovenia Electricity 1 791 1 277 40.29% 8.1 8.6 64 13 9 Naftna Industrija Srbije AD Serbia Petroleum/Natural Gas 1 763 2 169 -18.28% 132.8 253.4 9 14 15 Natsionalna Elektricheska Kompania EAD Bulgaria Electricity 1 660 1 553 6.89% -100.6 -299.9 95 15 14 British American Tobacco (Romania) Trading SRL Romania Food/Drinks/Tobacco 1 632 1 553 6.07% 96.3 79.5 15 16 New EPS Snabdevanje DOO Serbia Electricity 1 584 1 517 5.02% -58.5 -75.8 92 17 13 Lukoil-Bulgaria EOOD Bulgaria Petroleum/Natural Gas 1 536 1 613 -4.75% -3.2 -17.1 83 18 17 Poslovni Sistem Mercator d.d. Slovenia Wholesale/Retail 1 444 1 471 -1.84% -3.8 -95.1 84 19 20 JP Elektroprivreda Srbije (JP EPS) Serbia Electricity 1 380 1 374 0.94% 90.7 22.8 18 20 19 Holding Slovenske Elektrarne d.o.o. Slovenia Electricity 1 325 1 378 -3.88% -323.1 140.8 100 21 16 Hrvatska Elektroprivreda d.d. Croatia Electricity 1 246 1 492 -16.75% 212.7 157.8 3 22 New FCA Srbija DOO Serbia Automobiles 1 220 1 340 -8.43% 19.7 20.4 45 23 22 Lukoil Romania SRL Romania Petroleum/Natural Gas 1 206 1 308 -6.98% 7.7 -0.037 66 24 32 Johnson Matthey DOOEL Macedonia Chemicals 1 200 936.6 28.33% 91.3 56.1 17 25 27 Carrefour Romania SA Romania Wholesale/Retail 1 155 1 033 12.84% 28.2 26.6 35 26 23 Krka d.d. Slovenia Pharmaceuticals 1 147 1 208 -5.07% 146.3 144.4 6 27 25 E.ON Energie Romania SA Romania Petroleum/Natural Gas 1 107 1 088 2.68% 24.7 21.0 37 28 New Lidl Discount SRL (formerly Pludi Market SRL) Romania Wholesale/Retail 1 061 881.3 21.55% 38.0 13.4 31 Engie Romania SA (formerly GDF SUEZ Energy 29 26 Romania Petroleum/Natural Gas 1 054 1 051 1.26% 82.2 87.2 19 Romania SA) 30 36 Revoz d.d. Slovenia Automobiles 1 035 862.6 20.02% 11.6 12.2 58 31 30 Orange Romania SA Romania Telecommunications 1 034 976.1 6.97% 57.9 90.1 23 32 24 Romgaz SA Romania Petroleum/Natural Gas 1 001 1 113 -9.19% 264.0 314.6 2 33 28 Metro Cash & Carry Romania SRL Romania Wholesale/Retail 1 000 1 006 0.34% 7.8 -0.281 65 34 37 Auchan Romania SA Romania Wholesale/Retail 986.6 844.7 17.90% 11.7 -13.8 56 35 29 MOL Romania Petroleum Products SRL Romania Petroleum/Natural Gas 983.6 976.3 1.70% 15.9 21.0 53 36 45 Dedeman SRL Romania Wholesale/Retail 975.6 772.8 27.43% 124.4 92.8 10 37 31 Complexul Energetic Oltenia SA Romania Electricity 966.5 940.0 3.79% -212.4 -154.8 99 38 18 Petrotel - Lukoil SA Romania Petroleum/Natural Gas 955.0 1 462 -34.07% 3.3 -68.7 74 39 New Mercator - S DOO Serbia Wholesale/Retail 945.1 619.9 53.31% 3.1 0.836 75 40 35 Electrica Furnizare SA Romania Electricity 929.5 904.8 3.71% 29.0 45.7 34 41 33 HEP-Operator Distribucijskog Sustava d.o.o.