Southeast Europe’s largest companies report double-digit sales growth in 2021, according to TOP 100 ranking

Boosted by the post-pandemic economic recovery, Southeast Europe’s biggest companies reported double-digit revenue and profit growth in 2021, according to the SEE TOP 100 rankings released today by SeeNews.

The top hundred companies in Southeast Europe closed 2021 with combined revenues of €153.8 billion, 28% higher than the total revenues of entrants to the ranking a year earlier and far exceeding the level of 129.3 billion euros reached in 2019, according to the ranking.

The rise in their profits was even more remarkable – by 83% to 6.4 billion euros.

SEE TOP 100 is an annual ranking of South East Europe’s largest companies by total revenue for the financial year ending 31 December 2021. The publication also features rankings of the largest banks and largest local insurers.

The oil and gas industry emerged as the top performer in terms of revenue and profit, replacing the winner of 2020 – the wholesale and retail sector. Oil and gas companies in the SEE TOP 100, which a year earlier had seen their combined revenues fall by a quarter due to the economic crisis, travel bans and low commodity prices, increased their aggregate revenues by 54% in 2021, while profits more than doubled. Twenty-one oil and gas companies entered the ranking.

OMV Petrom claims no. 1 seat

After a seven-year hiatus, Romania’s biggest oil and gas producer, OMV Petrom, returned to the top of the rankings, ousting automaker Dacia. OMV Petrom recorded a 60% increase in sales to 6.0 billion euros, well ahead of second-placed Automobile Dacia with 4.4 billion euros. In terms of profit, it ranked second with 546.3 million euros.

In terms of profit, the leader is the Romanian hydroelectricity producer Hidroelectrica. The company ended 2021 with a profit of 614 million euros and a return on revenue of 45% thanks to a strong increase in electricity sales. The company is preparing for an IPO next year, which is expected to be the largest in Romania’s history.

The full SEE TOP 100 ranking is available for download here.

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