Romania has 56 companies in this year’s edition of the Coface Top 500 CEE ranking of the biggest companies in the region, nine fewer than in 2017.

Poland dominates the ranking, with 175 companies, up from 168 in 2017, followed by Hungary – 71 companies, and Czech Republic – 67 companies.

Romania is also fourth in terms of the cumulated turnover of the companies in the ranking – EUR 58.6 billion but ranks fifth in terms of cumulated profits, with EUR 3.05 billion, behind Slovakia – EUR 3.2 billion.

“Although the economy posted very strong above-average growth in 2017 (+6.9%), the top companies were unable to use that to their advantage in the ranking. Nine companies dropped out and left Romania with only 56 in total after several years with increases,” the Coface study says.

“The ones remaining, however, benefitted from the booming economy and increased revenues by 14.9% and profits by 29.6%,” the report also mentions.

However, the average size or Romanian companies included in the ranking is lower compared to other countries in the region, with an average turnover of EUR 1.05 billion, compared to an average of EUR 1.15 billion for Slovak companies and EUR 1.19 billion for Slovenian ones.

Romania’s biggest company, car maker Automobile Dacia, is only 14th in the overall ranking, with a turnover of just under EUR 5 billion. Oil group OMV Petrom ranks 31st (down from 23rd in 2017) and oil refiner Rompetrol Rafinare is 51st.

Five Romanian companies made it to the ranking for the first time this year, including Star Assembly, which operates Deimler’s gearbox factory in Sebes, Dante International, the owner of the biggest online store in Romania – eMAG, agricultural group Cofco International, automotive producer Robert Bosch and utilities company Enel Energie Muntenia.

editor@romania-insider.com