Deloitte CE Top 500: Petrom, the leader among Romanian companies for the eight consecutive year

Romania conserves the fifth place in the Deloitte Central Europe Top 500 ranking with 42 companies, of which 11 are new entries, totaling combined turnover of 43 billion euro. Last year’s economic progress has made its mark on the local companies listed in Deloitte’s report both as concerns their number which rose from 36 in 2013 to 42 and in terms of revenues - 43 billion euro compared to 39 billion euro a year before. Petrom maintains its leading position amongst Romanian companies, followed by Automobile Dacia which has replaced Rompetrol Rafinare following a major growth in its revenues.

Amid the uncertainty defining the economic environment in the Central Eastern European region, Romanian companies performed pretty well overall considering that 29 of the 42 local companies included in the report posted increased turnover as compared to 14 in 2012. Additionally, 16 companies have managed to improve their rankings, Ford Romania being in the spotlight with the biggest rise up – the car manufacturer jumped 258 positions to the 170th place. The change was driven by nearly twofold increase in revenues (from 557 million euro in 2012 to 1.1 billion in 2013), resulting from increased production of a new model of the Ford B-Max and EcoBoost engine, as indicates the Deloitte’s report.

‟The latest Deloitte CE Top 500 report confirms the economic growth Romania has registered but with the increasingly uncertain geopolitical situation that leaves little room for optimism, companies will have to continue to reinvent themselves through innovation in order to continue on their path to growth,” said Ahmed Hassan, Managing Partner Deloitte Romania. “Many companies will have to focus more on product/ services efficiency and talent development to attract the investment they need and develop alternatives to their traditional goods and services. As revealed by the Deloitte CE Corporate R&D Report launched his summer, Romania has the lowest proportion in R&D spending of its GDP in the region and that will have to change for the country to improve competitiveness,” he added.

The evolution of the energy and resources sector was in line with the trend in the region where it accounts for almost 42 percent of the consolidated revenue.

Hence, this industry continued to be the most contributory to Romania’s ranking, generating total revenues of 19.1 billion euro of which more than a quarter represents OMV Petrom’s participation. The company secured the first place in the ranking of the Top 10 domestic companies, but it went down one position to the 19th place in the CEE region on declining revenues (some 5.5 billion euro in 2013 against nearly 5.9 billion euro in 2012). Yet, it is still the best-ranked Romanian company.

Important shares in the country’s raking were taken by consumer business and transportation (with 12.1 billion euro), manufacturing (with 8.1 billion euro) and technology, media and telecommunication (with 2.3 billion euro) sectors.

As for the financial system, the ranking of the largest banks and insurance companies reveals no change as compared to the previous year. Six banks and four insurance companies from Romania are listed in Deloitte’s report, with BCR remaining the leading bank based on assets of approximately 14.9 billion euro. The member of Erste group has reported declining assets year-on-year, falling from the 9 to the 14 place among the financial institutions included in the Top 500 2014 ranking. BRD has maintained its position, whereas Banca Transilvania along with Raiffeisen Bank registered the biggest growth.

Whilst Romanian companies improved their economic performances generally, the largest firms in the region were affected by a deteriorating economic position and unstable geopolitical situation which lead to uneven development of their economies.  In 2013 CE enterprises saw a slowdown in revenue growth, being the third year in a row which showed a higher number of companies reporting declining income. The consolidated revenue of the 500 enterprises went down by 0.4 percent to 712 billion euro, compared to an increase by 3.8 percent last year.

Even so, Poland continues to lead the CE Top 500 ranking with 161 companies, three less than in 2012. The Czech Republic (79), Hungary (63) and Ukraine (53) come after. Poland accounts for the largest number of companies in Top 10 ranking – four, including the first place which continues to be occupied by PKN Orlen with reported revenues from sales of 27 billion euro. The Polish oil concern is followed by Hungary’s MOL and Skoda Auto from the Czech Republic.

In its 8thedition, the Deloitte CE Top 500 report ranks the largest enterprises in 18 countries of Central and Eastern Europe and Ukraine by revenues reported for the previous year and the most important banks and insurance companies by assets and by gross written premiums. The ranking includes 500 top companies, 50 top banks and 50 top insurance companies.


Romania in Deloitte CE Top 500 2014


 




















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