Three Estonian firms among Central Europe's 500 largest companies06.09.2012, 15:25
Three companies from Estonia were included in the list of Central Europe Top 500 companies in 2011 compiled by Deloitte.
The three were Baltic International Trading, an wholesaler of oil products that came 136th with revenue of 1.3 billion euros, Tallink that ranked 162nd with revenue of 1.1 billion euros and Eesti Energia that was on 260th place with revenue of 832 million euros.
In terms of average growth, Latvian companies in the list grew in average 22%, while Lithuania’s companies 6.6%. Estonia recorded a 6% fall.
Latvia had six companies in the list: Latvenergo (216th place), Rimi Latvia (400th), Maxima Latvija (402nd), Elko (420th), Latvijas Gaze (479th), and newcomer Uralchem Trading (200th).
There were twelve companies from Lithuania which is four more than in the previous ranking. Lithuania’s biggest company ORLEN Lietuva placed 11th and belongs to PKN ORLEN that was also ranked as the biggest corporation.
Combined revenue of Central Europe's largest companies was EUR 707 billion in 2011, which is near the pre-crisis level in 2008. Regardless of the increasing revenues, the average net profitability has reduced 3.5%.
Data for the first quarter of 2012 show that the average level of revenue is constantly increasing, but the pace of the increase is slowing down. This trend may be suggesting that a new economic downturn is approaching.
The list was topped by PKN Orlen (Poland), MOL (Hungary) and Skoda (Czech Republic). Annual revenues of PKN Orlen were 26 billion euros.