Southeastern Europe Hot 100
Slovenia and Croatia in a head to head race for regional leadership
The analysis of the top 100 companies in Southeastern Europe in 2008 shows the dominance of the oil and gas sector in the region and 22 companies with over EUR 1 bn net sales revenues
To sum it all up in a sentence, we can say that Southeastern Europe is a very interesting region. By "interesting", we mean incredibly diverse and very dynamic with strong growth. Looking at the past development of the main companies in the region, we see that the ranking has been dramatically reshuffled several times by companies moving significantly faster than others and by newcomers who emerged as big players.
In our ranking, Southeastern Europe consists of 9 countries with more than 50 million inhabitants and an aggregated GDP of more than EUR 262 billion. These numbers make it a major player in Central and Eastern Europe and a large, fast moving market to do business in.
The oil and gas sector leads the list, with its six companies being the biggest six companies in the region. Croatia's integrated oil and gas company, INA, is the largest, with net sales revenues of EUR 4.7 billion in 2007. Companies in the region have already achieved significant size, with twenty-two companies having net sales revenues of over EUR 1 billion. However, there is still a sharp contrast in size, indicating the considerable room for growth and consolidation that has yet to take place in the region. This is illustrated by the fact that the region's 100th company by size has a net sales revenue of just EUR 239 million.
Looking at the countries in the lead, we notice that Slovenia, the smallest country in terms of inhabitants, tops the list with twenty-three companies among the Southeastern Europe's top 100 companies. Croatia follows close behind with twenty one companies. However, these twenty-one have exactly the same aggregated net sales revenues as Slovenia's twenty-three – EUR 14.7 billion, thus indicating slightly larger company sizes. Romania and Bulgaria each have fifteen companies in the top 100, with Romania boasting net sales revenues of EUR 15.2 billion (the highest in the region) and Bulgaria having EUR 12.5 billion. Serbia also plays in the league's top five. Serbia's companies have developed rapidly and have caught up to Romania and Bulgaria. Now with fourteen companies in the top 100 with net sales revenues of EUR 12.5 billion, Serbia has already overtaken Bulgaria. The other countries – Bosnia and Herzegovina, Macedonia, Moldova and Montenegro – have in sum twelve companies in the top 100. They account for a minor portion of overall net sales revenue with EUR 4.9 billion.
Looking at the industries represented, we see that the manufacturing sector dominates the region, comprising thirty-one companies but 43.5% of the total net sales revenues. We should remember that this industry also includes the manufacture of petroleum products, which is the biggest sub-sector in the region. The wholesale and retail trade sector comes in at number two, closely followed by the electricity, gas and water supply sector. Both account for approximately 18% of total net sales revenue among the top 100 regional companies.
It will be interesting to see the development over the next year as we identify the fastest-moving companies, industries and countries. It is an open race with a lot of room for economic development and space for companies to develop regional leadership in their industries.
The analysis of the top 100 companies in Southeastern Europe in 2008 shows the dominance of the oil and gas sector in the region and 22 companies with over EUR 1 bn net sales revenues
To sum it all up in a sentence, we can say that Southeastern Europe is a very interesting region. By "interesting", we mean incredibly diverse and very dynamic with strong growth. Looking at the past development of the main companies in the region, we see that the ranking has been dramatically reshuffled several times by companies moving significantly faster than others and by newcomers who emerged as big players.
In our ranking, Southeastern Europe consists of 9 countries with more than 50 million inhabitants and an aggregated GDP of more than EUR 262 billion. These numbers make it a major player in Central and Eastern Europe and a large, fast moving market to do business in.
The oil and gas sector leads the list, with its six companies being the biggest six companies in the region. Croatia's integrated oil and gas company, INA, is the largest, with net sales revenues of EUR 4.7 billion in 2007. Companies in the region have already achieved significant size, with twenty-two companies having net sales revenues of over EUR 1 billion. However, there is still a sharp contrast in size, indicating the considerable room for growth and consolidation that has yet to take place in the region. This is illustrated by the fact that the region's 100th company by size has a net sales revenue of just EUR 239 million.
Looking at the countries in the lead, we notice that Slovenia, the smallest country in terms of inhabitants, tops the list with twenty-three companies among the Southeastern Europe's top 100 companies. Croatia follows close behind with twenty one companies. However, these twenty-one have exactly the same aggregated net sales revenues as Slovenia's twenty-three – EUR 14.7 billion, thus indicating slightly larger company sizes. Romania and Bulgaria each have fifteen companies in the top 100, with Romania boasting net sales revenues of EUR 15.2 billion (the highest in the region) and Bulgaria having EUR 12.5 billion. Serbia also plays in the league's top five. Serbia's companies have developed rapidly and have caught up to Romania and Bulgaria. Now with fourteen companies in the top 100 with net sales revenues of EUR 12.5 billion, Serbia has already overtaken Bulgaria. The other countries – Bosnia and Herzegovina, Macedonia, Moldova and Montenegro – have in sum twelve companies in the top 100. They account for a minor portion of overall net sales revenue with EUR 4.9 billion.
Looking at the industries represented, we see that the manufacturing sector dominates the region, comprising thirty-one companies but 43.5% of the total net sales revenues. We should remember that this industry also includes the manufacture of petroleum products, which is the biggest sub-sector in the region. The wholesale and retail trade sector comes in at number two, closely followed by the electricity, gas and water supply sector. Both account for approximately 18% of total net sales revenue among the top 100 regional companies.
It will be interesting to see the development over the next year as we identify the fastest-moving companies, industries and countries. It is an open race with a lot of room for economic development and space for companies to develop regional leadership in their industries.
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