Elektroprivreda BiH gets its place on Deloitte's CE Top 500 list
On this year’s CE Top 500 list, published by Deloitte, for the first time since the list is published, a Bosnia-Herzegovina based company secured its place. It is JP Elektroprivreda BiH, which thanks to its revenues from sale of 440 million Euro in 2009 holds 405th place on the list of the strongest companies in Central Europe.
Ivica Krešić, director in FAS:
“The total revenues from sales of Central European companies for the last year, in Euro, decreased by 21 percent in comparison to 2008. This negative trend reflects the effects of the global economic turmoil that in 2009 impacted CE region, but also of the depreciation of local currencies in relation to Euro.”
Deloitte created its list based on the total revenues from sales during last year, and the list can be considered as a relevant indicator of strenght of the individual companies, as well as national economies in the CE region. As was the case during the previous years, the first place is firmly held by Polish oil company PKN Orlen, with revenues from sales larger than 15,5 bln. Euro. Orlen is followed by Hungarian oil company MOL and Checzh energy company ČEZ. “The total revenues from sales of Central European companies for the last year, in Euro, decreased by 21 percent in comparison to 2008. This negative trend reflects the effects of the global economic turmoil that in 2009 impacted CE region, but also of the depreciation of local currencies in relation to Euro. Last year, only 90 of Top 500 companies reported revenues increase in Euro, in comparison to 2008,” says Ivica Krešić, director in FAS, Deloitte.
The largest number of companies on Deloitte’s regional list comes from the retail industry. These companies are dominating the list by their number thanks to the consistency of their revenues from food and beverages sales, which proved to be the most resistant to crisis. However, if we take into account the revenues from sales, the biggest are energy and resources companies, whose revenues contribute to Top 500 list by 38 percent. Oil and gas companies in the region reported significant decrease in revenues from the last year (between 20-30 percent), and the main reason for this is the significan drop in average prices of this energy sources in the previous period. “In the manufacturing industry, the recovery from the economic crisis will proceed slowly towards the end of 2010 and during 2011,” says Marina Tonžetić, directon in FAS, Deloitte. If we take into account the particular countries, Poland has the most representatives on the list (181 companies), followed by Czech Republic, Hungary and Ukraine.
Besides the CE Top 500 companies list, Deloitte created lists of 50 leading banks and 50 leading insurance companies. Hungarian OTP, which was the leading bank last year, this year gave its place to the Polish bank PKO BP. Among insurance companies, however, there were no changes on the leading positions, and the list is still lead by Polish insurance company PZU.