Coface Top 500 CEE: Poland tops the list, Romania ranks 4th with 54 companies
<p>Romania is fourth in the 2024 CEE Top 500 study by Coface, with a total of 54 companies in the ranking - six fewer than in the previous report. Poland leads the way, followed by the Czech Republic and Hungary.</p>

<p>The 16th annual study by Coface ranks the region's biggest 500 companies by turnover and analyses additional indicators, including the number of employees, the business frameworks, sectors, and the Coface company credit assessments. The economic performance of the CEE Top 500 provides an indicator of regional market trends.</p>

<p>This year's study highlights a turbulent economic environment for Central and Eastern Europe's largest companies in 2023.&nbsp;</p>

<p>"After years of resilience, businesses in the region faced significant challenges from contracting domestic and external demand, high inflation, rising costs, and geopolitical tensions. This trend persists into this year, although domestic demand has largely rebounded, and inflation has eased to a lower level," reads the press release.</p>

<p>Still, the overall turnover of all 500 companies increased slightly by 2.5% to EUR 1.1 trillion. Aggregated net profits dropped by -17.4% to EUR 44,909 million. In addition, these companies employed 2.4 million people (+1% vs. the previous year).</p>

<p>In Romania, compared to 2022, revenues at the country's largest companies decreased by 6.9%, while net profits dropped by 21.5%. The aggregated turnover amounted to EUR 97.8 billion in 2023, while the average Coface assessment reached 7.0, the highest level among analysed CEE countries that Romania shares with Croatia.&nbsp;</p>

<p>Minerals, chemicals, petroleum, plastics &amp; pharma constitute the largest sector among the largest Romanian companies as it accounts for the biggest share in terms of generated turnover (27%). Next up is non-specialised trade as well as automotive and transports, with the share in turnover reaching 20.8% and 17.0%, respectively.</p>

<p>Minerals and automotive are also sectors with the highest representation of Romanian companies in the current ranking.&nbsp;</p>

<p>Poland continues to dominate the ranking, with PKN Orlen strengthening its top position thanks to a 34% increase in turnover, following an acceleration of 111% in the previous year. The top ten also includes well-established names like Czech Skoda Auto (2nd), the multinational oil and gas company MOL Hungary (3rd), retailer Jeronimo Polska (4th), the Polish energy company PGE (5th), and Hungarian MVM Energetika (6th).&nbsp;</p>

<p>Volkswagen Slovakia (8th) returned to the top 10, while other high-ranking automotive companies also saw higher turnover in the environment of increasing prices and improved their positions. Newcomers to the top 10 also include the Polish state-owned gambling company Totalizator Sportowy (7th), as well as Polish electricity traders ENEA (9th) and Tauron Polska Energia (10th), each achieving double-digit turnover growth.</p>

<p>The best-ranked Romanian company is OMV Petrom, which took the 20th spot overall.</p>

<p>Several companies stood out for their remarkable growth in 2023, with the biggest progress achieved by the Polish electricity company ENIQ, which moved up 315 places thanks to the surge of turnover by 183%. Similarly, Bulgaria's Lukoil and BYD Smart Device Hungary, a producer of electronic components for one of China's largest car manufacturers, also saw impressive gains.</p>

<p>By sectors, after three years, automotive and transport reclaimed the top spot, with a 16.8% increase in turnover and a 40.8% rise in net profits, buoyed by improved car sales. The minerals, chemicals, petroleum, plastics &amp; pharma sector, traditionally the largest, dropped down to second place this year, with modest turnover growth but a 42.8% drop in net profits, as CEE oil &amp; gas companies faced challenging refining margins amid fluctuating oil prices and decreasing natural gas prices.&nbsp;</p>

<p>Non-specialized trade entered the top three, supported by rebounding consumer demand driven by low unemployment and rising wages, according to the Coface report.</p>

<p><i>irina.marica@romania-insider.com</i></p>

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