The Top 10
CE Top 500 2012
|Rank||Company name||Country||Industry||LY Rank|
|5 ↓||Naftogaz of Ukraine||Ukraine||E&R||4|
|6 ↓||ČEZ||Czech Republic||E&R||5|
There was little change among the top ten largest companies from the previous year's report, with petrochemical and power companies continuing their dominant position by taking seven places. The only exceptions are retailer Jeronimo Martins, which consolidated the position it gained last year, and manufacturing companies Skoda Auto and Metinvest. The top three places in the ranking remain unchanged from last year (PKN Orlen, MOL and Skoda).
Polish state-owned petrochemical business Lotos was the only company to join the top ten, moving from eleventh to seventh place following a 44% increase in revenues resulting from further implementation of the "10+" investment programme and rising oil prices.
State-owned Polish gas business PGNiG was the only company to leave the top ten, slipping from eighth to twelfth place in the ranking, having generated insufficient growth (4.8%) to maintain its place in the leading group. The consolidation of Vatenfall Heat Poland, acquired in 2011, will potentially help PGNiG to a higher position in next year's ranking.
Czech state-owned power company ČEZ saw its place in the ranking fall again (from fifth to sixth place) despite its continuing position as the region's leading company by market capitalisation.
The biggest jumpers
The biggest mover up the table in 2011 was Polish state-owned manufacturer Azoty Tarnów, which moved from 416th to 144th place following two acquisitions. Significant investments in production capacity saw Hyundai Motor Manufacturing Czech rise from 149th to 51st place, while Estonian fuel marketing and distribution company Baltic International Trading saw a 106% rise in its revenues to move from 326th to 136th place. Ukrainian food producer Kernel, meanwhile, rose from 256th to 131st place due to significant revenue growth mainly resulting from increased exports to the Russian market.