CE Top 500, 2009 videocast
Last year we reviewed how Central European companies executed their growth strategies. This year we analyze how Central European companies have dealt with the financial crisis. In 2008 the economic climate in Central Europe was relatively good especially when compared to economic situation in North America or Western Europe. Results of our ranking confirmed that. The beginning of 2009, however, paints a noticeably different picture.
- In 2008, average revenue increase of Central European companies was 20% higher than in 2007.
- The real impact of crisis can only be seen in the first quarter of 2009. On average 76% of companies recorded lower revenue compared to the first quarter of 2008. Average revenue decrease amounted to 18%.
- The Polish petrochemical company PKN was the largest Central European firm in terms of revenue in 2008.
- OTP (Hungary) was the largest Central European bank in terms of assets.
- PZU (Poland) leads the list among top insurers in Central Europe.
Tomasz Ochrymowicz, Partner, Deloitte Financial Advisory Poland
Tomasz is a partner in Deloitte Poland and has led the CE Top 500 ranking commentary with his team for the last three years. He has over 13 years of transaction experience in valuation and financial modeling gained throughout numerous engagements across Central and Eastern Europe. His industry experience includes banking, energy, oil & gas, manufacturing and consumer business in the CE region as well as in Canada.
Tomasz holds Master of Economics degree from the University of Economics in Poznań. He is also a Chartered Financial Analyst (CFA), a Senior Member of the American Society of Appraisers and holds the CF designation from the ICAW and Securities Institute.
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