SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012

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SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012

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<ul><li><p>5/26/2018 SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012</p><p> 1/132</p><p>ALBANIA,</p><p>BOSNIAANDHERZEGOVINA,</p><p>BULGARIA,</p><p>CROATIA,</p><p>KOSO</p><p>VO,</p><p>MACEDONIA,</p><p>MOLDOVA,</p><p>MONTENEGRO,ROMANIA,</p><p>SERBIA,</p><p>SLOVENIA</p><p>ON THE PATH</p><p>OF RECOVERY</p><p>TOP 100 COMPANIES</p><p>&gt; PAGE 6</p><p>ROMANIAS BCR SHINES</p><p>AGAIN IN TOP 100 BANKS</p><p>RANKING</p><p>TOP 100 BANKS</p><p>&gt; PAGE 22</p><p>NO QUICK RECOVERY FOR</p><p>SEE INSURERS IN 2011</p><p>TOP 100 INSURERS</p><p>&gt; PAGE 30</p></li><li><p>5/26/2018 SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012</p><p> 2/132</p><p>wire.seenews.com</p><p>Real-time solutions for your business in Southeast Europe</p><p>The business news and analyses of SeeNews are also available on your Bloomberg and Thomson Reuters terminals.</p><p>real-time coverage of</p><p>business and nancial</p><p>news from SEE investmentintelligence</p><p>inkeyindustries</p><p>inte</p><p>rvie</p><p>ws,an</p><p>alys</p><p>es,feat</p><p>ures</p><p>and</p><p>expe</p><p>rtcom</p><p>ments</p><p>fora</p><p>naddi</p><p>tional</p><p>perspe</p><p>ctiv</p><p>eto</p><p>theSE</p><p>Emark</p><p>et</p></li><li><p>5/26/2018 SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012</p><p> 3/132</p><p>1</p><p>editorial</p><p>This fth annual edition of SeeNews TOP 100 SEE hastried to build on the previous issues by offering evenricher content, more features, analyses and a variety ofviews on the economy of Southeast Europe (SEE) and theregions major companies.</p><p>We have prepared an entirely new ranking called TOP100 listed companies, part of the TOP listed companiessection, giving its rationale along with a feature story on</p><p>the stock exchanges in the region. For the rst time wehave included research on Turkey and Greece, setting thescene for companies from the two countries to enter theTOP 100 rankings in the future.</p><p>The scope has been broadened with a chapter dedicatedto culture and the leisure industry, called SEE colours,which brings the region into the wider context of unitedEurope.</p><p>One of the highlights of the 2012 edition is a feature writ-ten by the President of the European Bank for Reconstruc-tion and Development, Sir Suma Chakrabarti.</p><p>The issue also includes a series of interviews with topmanagers from SEE, feature stories by experts in humanresources, sustainability and marketing. Our journal-ists have contributed reviews on non-performing loans,M&amp;A, generic drugs, renewable energy, bans on smok-ing, the cinema market and many more. The new contentfeatures analyses of the IT and automotive sectors, alongwith detailed industry proles prepared by our Researchon Demand department.</p><p>Last but not least, our exclusive content partner Euro-monitor International gives a macroeconomic perspec-tive on SEE with an in-depth analysis on sectors whoseperformance has been on the rise in times of recession,a macroeconomic forecast for the SEE economies andthorough proles of the 11 SEE countries of the previousrankings plus proles of Turkey and Greece for the rsttime in the ve-year history of the edition.</p><p>Mira Karadzhova</p><p>Editor-in-chief</p></li><li><p>5/26/2018 SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012</p><p> 4/132</p><p>2</p><p>contents</p><p>TOP 100companies4</p><p>TOP 100banks18</p><p>TOP 100insurers</p><p>28TOP 100per capita38</p><p>TOP 100listed companies40</p><p>TOP 100industries46</p><p>SEEsustainability73</p><p>SEE</p><p>corporate management80</p><p>SEEsocial media88</p><p>SEEcolours94</p><p>SEEcountry proles102</p><p>Editor-in-chief:Mira KaradzhovaSenior editors:Valentina Gerasimova, Nevena KrastevaEditors:Branimir Kondov, Irina Slav, Rossitsa VachkovaAnalysts:Valentin Stamov, Tsvetan Ivanov, Deyan Matov</p><p>Journalists:Kristina Belkina, Emiliya Atanasova, GabrielaTzekova, Velizar Uzunov, Maria Russeva, Georgi Georgiev,Tsvetormira Tsanova, Tsvetan Ivanov, Valentin Stamov,Pavel Gramatikov, Valentina Dimitrievska, EugeniaKirilov, Martin Miliev, Trayan Koyankov, Nina Byalkova,Alexander Oleinic</p><p>Director SeeNews:Dilyan Damyanov</p><p>Marketing &amp; sales:Polina Harizanova, Antonia Petkova,Penka Karidova, Gergana Arsova, Spas Spasov</p><p>Design &amp; prepress:Madlen Nacheva, Esenes studio</p><p>Print:Alliance Print</p><p>Disclaimer: SeeNews is not liable for the content of thepublished advertisements. Full liability rests with theadvertisers.</p><p>Contact us:64 Kiril i Metodiy, 1202 Soa, Bulgaria+359 2 8012 626/850consulting@seenews.comtop100.seenews.com</p><p>@SEENEWS_TOP_100</p><p>SEENEWSTOP100</p><p>SEENEWS TOP 100 SEE</p><p>SeeNews, SEE TOP 100 and their logos are registeredtrademarks of AII Data Processing Ltd.All rights reserved. Re-publication or re-distributionof SeeNews content, including by framing, is strictlyprohibited without the prior written consent of</p><p>SeeNews.</p><p>Our partners</p><p>Exclusive content partner</p><p>Exclusive partner for Croatia</p><p>Exclusive partner for Bulgaria</p></li><li><p>5/26/2018 SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012</p><p> 5/132</p></li><li><p>5/26/2018 SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012</p><p> 6/132</p><p>4</p><p>TOP 100companies</p><p>2011 2010 Company name Country IndustryTotal revenue</p><p>2011Y/Y change in</p><p>revenueNet profit/loss</p><p>2011Net profit/loss</p><p>2010</p><p>1 1 OMV Petrom SA Romania Petroleum/Natural Gas 4 102 14.01% 853.2 419.9</p><p>2 2 INA d.d. Croatia Petroleum/Natural Gas 3 613 16.51% 261.2 239.3</p><p>3 3 Lukoil Neftochim Burgas AD Bulgaria Petroleum/Natural Gas 3 446 21.19% -69.5 -47.2</p><p>4 22 OMV Petrom Marketing SRL Romania Petroleum/Natural Gas 3 185 197.50% 29.0 26.4</p><p>5 4 Automobile-Dacia SA Romania Automobiles 3 110 15.74% 63.7 70.0</p><p>6 7 Aurubis Bulgaria AD Bulgaria Metals 2 880 47.57% 115.7 31.7</p><p>7 5 Petrol d.d. Slovenia Petroleum/Natural Gas 2 860 15.21% 11.6 37.9</p><p>8 6 Rompetrol Rafinare SA Romania Petroleum/Natural Gas 2 731 40.52% -170.3 -156.3</p><p>9 9 Naftna Industrija Srbije AD Serbia Petroleum/Natural Gas 1 983 14.24% 389.2 156.3</p><p>10 10 Lukoil-Bulgaria EOOD Bulgaria Petroleum/Natural Gas 1 783 4.04% -2.2 3.0</p><p>11 15 Rompetrol Downstream SRL Romania Petroleum/Natural Gas 1 775 23.80% -25.1 -23.1</p><p>12 8 Konzum d.d. Croatia Wholesale/Retail 1 774 5.10% 45.8 55.9</p><p>13 11 Hrvatska Elektroprivreda d.d. Croatia Electricity 1 733 3.47% 62.4 133.6</p><p>14 14 Natsionalna Elektricheska Kompania EAD Bulgaria Electricity 1 669 7.98% 35.1 52.4</p><p>15 12 Poslovni Sistem Mercator d.d. Slovenia Wholesale/Retail 1 629 -2.46% 31.1 36.8</p><p>16 New Petrotel - Lukoil SA Romania Petroleum/Natural Gas 1 594 26.66% -90.7 -70.7</p><p>17 19 British American Tobacco (Romania) Trading SRL Romania Food/Drinks/Tobacco 1 412 25.26% 73.4 51.8</p><p>18 31 Holding Slovenske Elektrarne d.o.o. Slovenia Electricity 1 365 48.32% 46.7 79.5</p><p>19 21 Kaufland Romania SCS Romania Wholesale/Retail 1 324 20.55% N/A 40.2</p><p>20 23 Lukoil Romania SRL Romania Petroleum/Natural Gas 1 266 19.56% -26.7 -38.7</p><p>21 18 JP Elektroprivreda Srbije (JP EPS) Serbia Electricity 1 262 3.83% -46.6 16.9</p><p>22 24 Arcelormittal Galati SA Romania Metals 1 178 16.96% -143.6 -79.9</p><p>23 17 Metro Cash &amp; Carry Romania SRL Romania Wholesale/Retail 1 156 -5.88% 22.0 32.6</p><p>24 16 Revoz d.d. Slovenia Automobiles 1 135 -14.65% 13.9 18.6</p><p>25 25 Romgaz SA Romania Petroleum/Natural Gas 1 080 10.12% 238.8 152.0</p><p>26 20 Hrvatski Telekom d.d. Croatia Telecommunications 1 041 -5.85% 240.8 252.4</p><p>27 53 E.ON Energie Romania SA Romania Petroleum/Natural Gas 998.1 69.92% -44.4 -22.3</p><p>28 28 GDF SUEZ Energy Romania SA Romania Petroleum/Natural Gas 994.2 7.21% 48.5 46.5</p><p>29 56 GEN-I d.o.o. Slovenia Electricity 989.4 70.45% 8.1 10.9</p><p>30 13 Nokia Romania SRL Romania ICT Equipment 981.5 -39.81% -2.0 42.3</p><p>31 27 Krka d.d. Slovenia Pharmaceuticals 976.5 2.87% 150.4 165.9</p><p>32 29 Carrefour Romania SA Romania Wholesale/Retail 950.0 2.64% 31.0 32.8</p><p>33 42 CFR SA Romania Transportation 942.6 31.74% -164.0 -302.1</p><p>34 30 Telekom Srbija AD Serbia Telecommunications 942.4 2.08% 213.5 149.7</p><p>35 35 OMV Bulgaria OOD Bulgaria Petroleum/Natural Gas 941.3 13.47% 2.3 17.1</p><p>36 39 Prirodni Plin d.o.o.* Croatia Petroleum/Natural Gas 937.5 20.31% 0.043 -46.7</p><p>37 26 Orange Romania SA Romania Telecommunications 935.0 -4.18% 186.5 218.0</p><p>38 60 Renault Industrie Roumanie SRL Romania Automobiles 923.1 62.80% 0.2 0.2</p><p>39 37 JP Srbijagas Serbia Petroleum/Natural Gas 884.6 8.40% 12.0 8.4</p><p>40 34 Selgros Cash &amp; Carry SRL Romania Wholesale/Retail 880.5 4.90% 20.1 23.5</p><p>41 32 Zelezara Smederevo DOO (formerly US Steel Serbia DOO) Serbia Metals 842.8 -4.02% -149.9 -142.3</p><p>42 47 Bulgargaz EAD Bulgaria Petroleum/Natural Gas 840.4 28.14% -37.4 -19.1</p><p>43 33 Vodafone Romania SA Romania Telecommunications 821.1 -2.78% 98.5 113.7</p><p>44 55 Termoelektrane Nikola Tesla DOO Serbia Electricity 764.5 28.83% 58.7 3.8</p><p>45 49 Transelectrica SA Romania Electricity 757.7 22.14% 21.0 2.2</p><p>46 48 MOL Romania Petroleum Products SRL Romania Petroleum/Natural Gas 740.9 17.14% -3.1 19.1</p><p>47 38 Hidroelectrica SA Romania Electricity 737.3 -6.64% 1.5 68.2</p><p>48 83 Telekom Slovenije d.d. Slovenia Telecommunications 730.8 -1.08% 21.3 -237.1</p><p>49 54 OMV Petrom Gas SRL Romania Petroleum/Natural Gas 722.3 23.90% 31.9 24.3</p><p>50 84 Cargill Agricultura SRL Romania Agriculture 707.7 61.85% 7.3 -14.8</p><p>in millions of euro</p></li><li><p>5/26/2018 SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012</p><p> 7/132</p><p>5</p><p>TOP 100companies</p><p>in millions of euro</p><p>2011 2010 Company name Country IndustryTotal revenue</p><p>2011Y/Y change in</p><p>revenueNet profit/loss</p><p>2011Net profit/loss</p><p>2010</p><p>51 36 real,- Hypermarket Romania SRL Romania Wholesale/Retail 700.0 -13.58% -28.0 -21.2</p><p>52 41 Delhaize Serbia DOO (formerly Delta Maxi DOO) Serbia Wholesale/Retail 695.4 -7.01% -13.2 17.7</p><p>53 44 Gorenje d.d. Slovenia Electronics 694.7 2.55% 7.3 2.9</p><p>54 64 OMV Slovenija d.o.o. Slovenia Petroleum/Natural Gas 692.9 24.51% 16.3 16.1</p><p>55 57 Naftex Petrol EOOD Bulgaria Petroleum/Natural Gas 692.1 19.44% -19.1 11.7</p><p>56 40 Romtelecom SA** Romania Telecommunications 686.5 -9.71% -294.3 -351.0</p><p>57 85 Interagro SA Romania Diversified Holdings 684.8 58.59% 37.7 20.6</p><p>58 51 RCS &amp; RDS SA Romania Telecommunications 672.9 12.72% -2.9 -16.4</p><p>59 68 Okta AD Macedonia Petroleum/Natural Gas 671.0 31.16% -1.1 1.8</p><p>60 43 Engrotus d.d. Slovenia Wholesale/Retail 658.0 -2.94% 6.1 7.9</p><p>61 63 Mediplus Exim SRL Romania Wholesale/Retail 646.3 16.38% 13.0 8.6</p><p>62 50 Electrocentrale Bucuresti SA Romania Electricity 643.8 4.53% 24.7 39.0</p><p>63 58 Lek d.d. Slovenia Pharmaceuticals 639.6 10.07% 73.9 47.9</p><p>64 52 CEZ Elektro Bulgaria AD Bulgaria Electricity 636.5 6.41% 1.2 1.6</p><p>65 73 Overgas Inc. D Bulgaria Petroleum/Natural Gas 625.4 26.58% 8.2 7.1</p><p>66 70 Alro SA Romania Metals 620.9 22.46% 52.9 37.3</p><p>67 72 OMV Hrvatska d.o.o.* Croatia Petroleum/Natural Gas 617.8 24.55% 4.3 7.5</p><p>68 62 CFR - Calatori SA Romania Transportation 596.6 7.30% 0.4 -20.2</p><p>69 46 Compania Nationala de Autostrazi si Drumuri Nationale din Romania SA Romania Construction 589.8 -11.56% 57.0 23.4</p><p>70 New Celestica (Romania) SRL Romania ICT Equipment 571.3 44.51% 2.9 -13.5</p><p>71 71 IMPOL d.o.o. Slovenia Metals 569.8 12.22% 5.1 2.2</p><p>72 75 Mercator - S DOO Serbia Wholesale/Retail 561.4 13.91% 20.7 6.9</p><p>73 80 J.T. International (Romania) SRL Romania Food/Drinks/Tobacco 551.1 21.99% 1.4 -14.1</p><p>74 77 Philip Morris Trading SRL Romania Food/Drinks/Tobacco 549.0 16.68% 3.5 6.8</p><p>75 65 HEP-Proizvodnja d.o.o.* Croatia Electricity 543.4 3.09% -1.1 72.7</p><p>76 97 Oscar Downstream SRL Romania Petroleum/Natural Gas 534.1 35.22% 6.2 8.6</p><p>77 69 HEP-Operator Distribucijskog Sustava d.o.o. * Croatia Electricity 529.9 5.68% 46.0 14.6</p><p>78 59 Mobiltel EAD Bulgaria Telecommunications 529.2 -7.48% 39.1 112.6</p><p>79 New Michelin Romania SA Romania Rubber/Rubber Products 528.7 40.29% 10.4 13.5</p><p>80 91 Continental Automotive Products SRL Romania Rubber/Rubber Products 524.1 27.82% 46.8 44.6</p><p>81 New Cosmote Romanian Mobile Telecommunications SA Romania Telecommunications 518.5 13.82% -7.1 -33.1</p><p>82 New Zeleznice Srbije AD (formerly JP Zeleznice Srbije) Serbia Transport 511.1 96.19% 121.5 -165.3</p><p>83 66 Daewoo-Mangalia Heavy Industries SA Romania Transportation 506.4 -0.94% -16.9 -32.7</p><p>84 67 Zagrebacki Holding d.o.o.* Croatia Diversified Holdings 498.0 -1.55% -57.6 -67.1</p><p>85 New Complexul Energetic Turceni SA Romania Electricity 490.7 37.35% 12.9 -16.2</p><p>86 81 JP Elektroprivreda BiH d.d. Bosnia and Herzegovina Electricity 489.3 8.12% 0.8 -7.4</p><p>87 New Stomana Industry AD Bulgaria Metals 480.1 31.82% -2.4 1.4</p><p>88 New Dedeman SRL Romania Wholesale/Retail 477.8 29.50% 47.6 35.8</p><p>89 61 Bulgarian Telecommunications Company AD Bulgaria Telecommunications 470.8 -16.39% 4.7 58.1</p><p>90 94 Elektrovojvodina DOO Serbia Electricity 470.0 17.51% 5.1 -11.6</p><p>91 100 Idea DOO Serbia Wholesale/Retail 469.3 18.45% -17.9 -22.3</p><p>92 New Brodosplit - Brodogradiliste d.o.o.* Croatia Transportation 466.5 130.92% 207.9 -57.8</p><p>93 88 JT International Manufacturing SA Romania Food/Drinks/Tobacco 463.8 11.02% -2.9 1.2</p><p>94 74 YugoRosGaz AD Serbia Petroleum/Natural Gas 458.0 -7.52% 14.7 18.9</p><p>95 New Autoliv Romania SRL Romania Automobiles 456.4 18.66% 37.3 34.4</p><p>96 New Elektrosrbija DOO Serbia Electricity 455.8 26.66% 27.1 3.8</p><p>97 90 AETs Kozloduy EAD Bulgaria Electricity 455.7 9.49% 58.4 30.9</p><p>98 New Lukoil Srbija AD (formerly Lukoil - Beopetrol AD) Serbia Petroleum/Natural Gas 451.1 15.85% -9.5 -32.9</p><p>99 78 Enel Energie SA Romania Electricity 449.8 -3.15% -10.0 -7.6</p><p>100 98 Alfred C. Toepfer International (Romania) SRL Romania Agriculture 441.9 12.50% -4.0 -7.0</p><p>(*) denotes gross profit/loss for 2011 and 2010(**) denotes consolidated figures</p></li><li><p>5/26/2018 SeeNewsTOP100SEE-2012 SeeNewsTOP100SEE-2012</p><p> 8/132</p><p>6</p><p>TOP 100companies</p><p>The economic woes, however, might turnout to be the bitter pill which would help theSEE corporate world adapt faster to the ever-changing economic environment and showits recovery is rmly on track.</p><p>Growth trendsThe combined revenue of the top 100 com-panies reached 101 billion euro in 2011, asizeable jump from the 2010 level of 87.4billion euro. Despite the crisis, the 100 big-gest companies in the region boosted theirrevenues last year in a clear sign of recovery.The combined prot of the companies rosefrom 2.322 billion euro in 2010 to 3.006 bil-lion euro in 2011. Thus, the rms in the rank-ing have returned to the revenues and prof-its they had before the crisis. Twenty-onecompanies posted inferior revenues in 2011,compared with 20 in 2010. Furthermore, therevenue threshold for SEE TOP 100 consider-ably increased to 441.9 million euro in 2011from 391.8 million euro in 2010, exceeding</p><p>the pre-crisis level of 405.4 million euro re-corded in 2008 and showing the market hadalready started recovering from the crisis.Moreover, 29 rms were in the red in 2011,down from 36 a year earlier.</p><p>Oil and gas rules the chartThe oil and gas sector rules the 2011 editionof TOP 100 once again with a total of 28companies, up from 27 in the previous year.Traditionally, the sector dominates the chart it has eight companies in the top 10 in 2011,versus 7 in 2010 and 6 in 2009.The electricity sector is the second-strongestindustry on the list with 18 companies, un-changed from 2010. Thirteen retailers andwholesalers made it to the top 100, downfrom 16 in 2010. Telecoms numbered 10, ver-sus 13 in 2010.Another interesting trend is the disappear-ance of retailers from the top 10 league. In2011, none of the retailers made it to the listof the 10 biggest players in the region, againstone present in 2010, two in 2009 and three in2007. The trend could be explained with thefa...</p></li></ul>