Method­ol­ogy

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Bro­dos­plit–Brodogradiliste – which had turned a -28.04% re­turn on rev­enue in 2010 into a 45.28% re­turn on rev­enue in 2011 – boosted fur­ther its prof­itabil­ity to a mas­sive 79.69% in 2012.

Hav­ing raised its re­turn on rev­enues to 27.66% from 22.11%, sec­ond in the 2012 rank­ing came Ro­ma­nia's Romgaz SA, top of the five pe­tro­leum/nat­u­ral gas in­dus­try rep­re­sen­ta­tives and high­est of the 11 Ro­ma­nian firms which made it to the list. Romgaz re­placed the 2011 run­ner-up, Ser­bia's rail­way com­pany Zeleznice Sr­bije AD (for­merly JP Zeleznice Sr­bije), which dropped out of the 2012 top 20 rank­ing. Croa­tia's Hr­vatski Telekom d.d. kept its third place in the 2012 stand­ings.

Ser­bian oil and gas com­pany Naftna In­dus­trija Sr­bije AD moved up to the fifth spot in 2012 with re­turn on rev­enue at 20.19%, up from the 19.63% which had helped it snatch the eighth place in the 2011 rank­ing. Ro­ma­nia's OMV Petrom SA, SEE's num­ber-one en­ter­prise by rev­enue, kept its sixth place in the 2012 most prof­itable rank­ing but saw its re­turn on rev­enue drop to 18.37% from 20.80% in 2011. Two Ro­ma­nian pe­tro­leum/nat­u­ral gas sec­tor com­pa­nies – GDF SUEZ En­ergy Ro­ma­nia SA at 17th and OMV Petrom Gas SRL at 20th – en­tered the 2012 list, rais­ing the num­ber of their in­dus­try rep­re­sen­ta­tives to five from three in 2011.

Ro­ma­nia also placed Con­ti­nen­tal Au­to­mo­tive Prod­ucts SRL at the sev­enth spot in 2012, with re­turn on rev­enue up to 16.45% from 8.93% which had al­lowed it to grab the 15th place in 2011. An­other Ro­ma­nian en­try last year was elec­tric­ity com­pany Enel En­ergie SA at the eighth spot, with re­turn on rev­enue at 15.65% after hav­ing posted a -2.22% re­turn in 2011, miss­ing the top-20 spots in the stand­ings. Ro­ma­nia-based Voda­fone Ro­ma­nia SA, Orange Ro­ma­nia SA, and Romt­ele­com SA, rank­ing 10th, 11th and 18th re­spec­tively, were the three out of six telecom­mu­ni­ca­tions com­pa­nies in the 2012 money-mak­ers list, along­side Hr­vatski Telekom, Telekom Sr­bija AD and Bul­garia's Mo­bil­tel EAD.

Ro­ma­nia's Dede­man SRL was the only 2012 top-20 en­try of the whole­sale/re­tail in­dus­try, placed 14th and drop­ping one po­si­tion from the 2011 ta­ble. Ro­ma­nia also qual­i­fied the only con­struc­tion sec­tor com­pany in the 2012 stand­ings, Com­pa­nia Na­tion­ala de Au­tostrazi si Dru­muri Na­tionale at 19th, re­treat­ing from its 14th place in 2011.

The phar­ma­ceu­ti­cal in­dus­try had three rep­re­sen­ta­tives in the 2012 rank­ing, cour­tesy of fourth-placed Pliva Hr­vatska d.o.o. which missed out on the 2011 stand­ings, and Slove­nia's an­other-year-run­ning ap­pear­ances, Krka d.d., 9th, and Lek d.d., at 13th , with Krka con­firm­ing its spot and Lek drop­ping one place from the pre­vi­ous year.

Croa­t­ian elec­tric­ity com­pany HEP-Op­er­a­tor Distribu­ci­jskog Sus­tava d.o.o. re­tained its 16th place to com­plete the 2012 SeeNews rank­ing of the most prof­itable com­pa­nies op­er­at­ing in the SEE re­gion. Most prof­itable is a rank­ing of the top 20 com­pa­nies with the high­est re­turn on rev­enue in SEE TOP 100. Re­turn on rev­enue is cal­cu­lated as net profit di­vided by to­tal rev­enue, both in euro terms. To al­low com­par­i­son, all lo­cal cur­ren­cies have been con­verted into euro, us­ing the cen­tral banks’ of­fi­cial ex­change rates on the last work­ing day of 2012 and 2011, re­spec­tively.

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