ers and retailers numbered 14 in 2012, versus 13 a year earlier. A total ten telecoms made the 2012 TOP 100 companies list, flat on the year. Only four representatives of the metals industry were present the ranking for 2012, down from six a year ago. With the entry of another carmaker, the number of automobile companies on the list rose to five.
The TOP 100 companies list accommodated 16 new entrants in 2012. Newcomer FIAT Automobili Srbija made the biggest jump in terms of sales among all firms on the list, soaring 345% and landing straight at number 88. Despite the remarkable gain, it wasn't the highest-ranked new entry in SEE TOP 100 companies 2012. Romanian power company Electrica Furnizare debuted at number 28, on the back of a 154% surge in revenues.
The bigger – the better
Romania blew away all competition with the impressive 51 companies on the list in in the chart, versus 49 a year earlier, because nine out of the 16 new arrivals in the ranking were based in Romania, while only seven Romanian firms left the chart. Slovenia outranked both Serbia and Bulgaria with 13 companies in the top 100, up from 12 in 2011. Bulgaria, which, in turn, outranked Serbia, had 12 representatives, one less than in 2011, when it was the third-strongest represented country in the SEE TOP 100 ranks the biggest companies in Southeast Europe by total revenue for the fiscal year ended December 31, 2012. Both 2012 figures and 2011 comparative counterparts are sourced from 2012 annual non-consolidated reports.
The SEE TOP 100 ranking covers non-financial companies registered in Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Moldova, Montenegro, Romania, Serbia and Slovenia. Banks, investment intermediaries, insurers and real estate investment trusts (REITs) are excluded from the ranking as total revenue is not an accurate indicator of their performance. We have compiled separate rankings of the largest 100 banks and insurers. Holding companies, on the other hand, are represented in the ranking by their subsidiaries.
All data is sourced from national commercial registers, stock exchanges, government and corporate websites, industry regulators and companies themselves.
The initial pool of companies exceeds 1,200. The ranking does not include companies that declined or failed to provide financial results by the time SEE TOP 100’s content was finalised, thus Romanian Metro Cash & Carry Romania SRL and Slovenian Engrotus d.d. are not included in the ranking. Romanian energy holding Complexul Energetic Oltenia SA, set up in 2012, includes state-owned mining company SNLO and the Craiova, Turceni and Rovinari thermal power generation complexes, which no longer exist as a separate legal entities and were written off from the national trade register.
To allow comparison, all local currencies in the rankings have been converted into euro, using the respective central bank’s official exchange rate on the last working day of 2012 and 2011. Year-on-year changes in the companies’ financial indicators have been calculated using the figures in the original currency.
Elsewhere, local currency figures referencing past periods have been converted into euro using the respective central bank exchange rate as of the end of the relevant period while all other local currency figures have been converted using the exchange rate as of the date the relevant editorial content was finalised.
Top 10 of TOP 100 companies 2008-2012 chart. Serbia followed suit with nine companies, versus 14 in 2011. Croatian companies numbered 11, against 10 in the previous year. Macedonia and Bosnia and Herzegovina had two representatives each, versus one in 2011. Just like in 2011, none of the biggest companies in Albania, Moldova or Kosovo made it to the list in 2012.