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.