Deloitte: Romania ranks 5th in Top 500 Central Europe
The combined turnover of the biggest Romanian companies has climbed nearly 28 percent to 39 billion euros, according to the financial data available at the end of 2008.
‘Romania stays on the fifth spot in terms of the level of representation in Top 500 Central Europe. Compared to 2007, when Deloitte launched this project on a regional level, the number of the Romanian companies with turnovers higher than 1 billion euros has gone up from nine to 14.
We also notice that two companies with Romanian shareholders have entered this year’s rankings.
These results prove the local business climate is getting mature and begins to exploit its potential’, Deloitte Romania president George Mucibabici said.
The 2009 Deloitte report draws a comparison between the last 12 months, that have left their mark on the region and the prior years, when Central Europe was preferred by the investors in the global economies. While in the first three quarters of 2008 the growth trends kept on, the global economic and financial crisis has been felt starting in the fourth quarter.
The report concludes Central Europe was rescued from an economic disaster by the rigorous actions of the national governments, of the European Union, of the international organizations and of the regional business climate leaders.
From the viewpoint of the capability to recover and to emerge from the recession, Deloitte has divided the region into three groups. Poland is in a group by itself, having managed to avoid the downturn and having reported rises in the gross domestic product both in the first and in the second quarters of 2009 at 0.8 and 1.1 percent respectively.
Romania is part of the countries standing changes for a fast recovery, alongside Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Moldova, Montenegro, Slovenia and Slovakia.
The countries in the third group could face considerable challenges: Croatia, Estonia, Hungary, Latvia, Lithuania, Macedonia, Serbia and Ukraine.
Deloitte Top 500 Central Europe is an annual ranking of the region’s companies by revenues, profit, number of employees and capitalization. It includes 18 countries from the Adriatic Sea to the Baltic Sea and the Black Sea.
Deloitte obtained the information for the rankings by approaching each individual company, by consulting the available public data bases, by estimations made by comparison to the 2008 results and by its own research.