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Romanian companies enter classification of 1,000 biggest firms in Central and Eastern Europe

43 firms based in Romania have entered 'New Europe', a classification of the biggest 1,000 companies in Central and Eastern Europe. Nine Romanian companies reported over one billion euros in turnover, each.

'The surprise element for Romania has been the big number of companies which exceeded one billion euros in turnover, as well as the high average of revenues, in general,' Georg Hotar, managing director Crossover Research, which made the classification, told Capital publication. Hotar added that, on the other hand, Romania is poorly represented in point of small companies, so, for sustained economic growth, the segment of small and medium-sized companies (SMEs) should develop in the future. President of Deloitte Romania George Mucibabici said the poor contribution of SMEs to the Romanian economy is due to the fact that 'in Central and Eastern Europe, competition rules, transparency and entrepreneurship are not very well set coordinates.' The average turnover of the Romanian companies in the classification was of 639 million euros, with Romania ranking second in the region in this respect. The dominant industry in Romania, (in the entire region for that matter), is petrochemistry, which, with the four companies present in the classification, i.e Petrom, Rompetrol, Lukoil and RAFO, has posted a quarter of the total revenues of the Romanian companies. Second comes steel processing, with a total turnover of 3.2 billion euros. Telecommunications come third, with 2.2 billion euros worth of business, in 2006. The total revenues of the 43 companies in the classification stood at 27 billion euros. In a classification of the 100 biggest banks in the region, Romania is present with the Romanian Commercial Bank (BCR), which ranks 9th, with 14 billion euros worth of assets and a net profit of 194 million euros. Seven Romanian financial institutions entered the classification of the biggest 100 in the region, one of them is among the ten biggest, three among the 50 biggest. From the 43 Romanian companies in the classification, in 16 of them the state held most of the shares when the data were collected. Among them, the Romanian Lottery (482nd) and the Romanian Post (561st). Sursa: http://www.rompress.ro

Tags: romanian classification companies billion euros romania eastern biggest central europe bcr

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