The biggest companies in Southeast Europe (SEE) saw their sales rise only marginally in 2019, as weak growth in the European Union, low oil prices and heightened trade tensions impacted their bottom lines, shows the latest TOP 100 SEE ranking developed by SeeNews.
The revenues of the hundred biggest companies in SEE totaled 129.3 billion euro ($150.4 billion) in 2019, up by 2.3% as compared to the revenues posted by the entrants in the ranking a year earlier, according to the thirteenth annual edition of TOP 100 SEE which ranks the biggest companies in the region by total revenue.
In comparison, the entrants in the ranking in 2018 and 2017 saw their combined revenues grow by 11% and 13%, respectively.
At the same time the profits of the region’s heavyweights in 2019 dropped to a total of 4.7 billion euro, from 5.7 billion euro booked by the entrants in the ranking a year earlier.
Romania’s Automobile Dacia, a unit of France’s Renault, retained its lead in the ranking for a sixth year running even though its revenue edged down to 5.21 billion euro from 5.3 billion euro in 2018. Dacia’s profit also declined, to 139 million euro from 161 million euro.
For the first time since SeeNews started compiling its ranking of the 100 biggest companies in Southeast Europe, the number of wholesalers and retailers equals that of oil and gas companies – 25.
The strong performance of the retailers and wholesalers comes on the back of the region’s steady consumption-driven economic growth, as wages continue to increase and reflects the recovery from the 2017 collapse of Croatia’s Agrokor concern.
The dark horse in this year’s edition of the SEE TOP 100 ranking is the pharmaceuticals sector. The three pharmaceutical companies on the list surprisingly posted a 15% return on revenue combined, the highest among the sectors.
The ranking includes 12 Bulgarian companies:
- Lukoil Neftohim Burgas (5th place);
- Lukoil Bulgaria EOOD (22nd place);
- National Electric Company EAD (28th place);
- Astra Bioplant EOOD (44th place);
- Saksa EOOD (49th place);
- Kaufland Bulgaria EOOD and Co. KD (61st place);
- Bulgargaz EAD (78th place);
- Kozloduy NPP EAD (82nd place);
- Express Logistics and Distribution EOOD (88th place);
- BA Glass Bulgaria AD (98th place);
- LIDL Bulgaria EOOD & Co. KD (99th place).
You can download the full report from here.