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“Lithuanian companies have definitely strengthened their positions in the list of the largest companies in Central and Eastern Europe, out of 22 even 14 companies have risen; this shows that Lithuanian companies are successfully growing their businesses and competing more and more strongly. in Europe, “says Mantvydas Štareika, CEO of Coface Baltics. “However, we have to assess that this ranking does not yet reflect the impact of the pandemic, so we can see even bigger changes in next year’s TOP 500 list.”
After a long year of leadership this year, Orlen Lietuva resigned from his leadership position (last year it was 18th, this year it fell to 22nd place) and Vilnius Trade was allowed to enter 16th place out of 500 Central European companies and eastern in the history of Lithuanian companies. 2019 reached 4.9 billion. Eur (increased by 17%). Away from 21st place last year, the commercial giant rose to 16th position. Last year, Orlen Lietuva’s turnover fell 3% to 4.6 billion. EUR. In the Baltic States, Vilniaus Prekyba is the only company among the twenty largest companies in the Central and Eastern European region.
The Maxima Group was among the thirty largest Central and Eastern European companies this year, going from 32 positions to 28 positions (turnover grew by 16% to 3,993 million euros). Another company in this group of companies, Maxima LT, fell 8 positions in the last EEC rating, from 102 to 110. The turnover of this company grew by 4%. and reached 1,700 million. EUR.
Euroaphoteca, which is linked to the aforementioned companies and entered the Coface Top 500 for the first time last year, rose 19 positions this year: from 329 to 310. The pharmacy network’s turnover grew by 14% last year. and amounted to 745 million. EUR.
Record rises and falls: the gas station network jumped 91o
According to M. Štareika, although in 2019. Companies have not yet been affected by the challenges of the subsequent pandemic, with sharp jumps and drops in the TOP 500 list. Fourteen Lithuanian companies improved their position in the ranking and Circle K Lietuva showed the highest growth: this company rose to 91 positions. On the latest TOP 500 list, this company is ranked 429, although last year it was ranked 520 as an observed candidate. The company’s turnover increased 24% during the year, to 574 million. EUR. This is the highest growth among Baltic companies and the sixth largest in the entire Central and Eastern European region.
Norfos mažmena, Girteka Logistics, Linas Agro Group AB, Koncernas Achema Group and VG Holding stood out with impressive leaps
Several other Lithuanian companies achieved impressive growth: Norfos mažmena moved up to 72 positions on the list (from 514 to 442 places). The annual turnover of this company grew 20%. and reached 563 million. EUR.
VG Holding climbed 67 places on the list (from 435 to 368 places), increasing its turnover by 21 percent during the year. and reached 644 million. Euro turnover. Linas Agro Group AB rose 54 positions in the ranking (from 361 to 307 positions, turnover increased by 18%, to 746 million euros), the positions of Girteka Logistics improved by 53 positions (from 285 to 232 positions, turnover increased by 24%, to 945 million euros). The company ME Investicija improved its position in the ranking in 36 places – from 227 places to 191 places, the turnover of this company grew 24% to 1.122 billion. EUR. Concern Achema Group also significantly strengthened its position at 35 locations, with a 19% increase in turnover last year. and amounted to 932 million. EUR.
Last year, the turnover of newcomers Avia Solutions Group, Agrorodeo and Linas Agro AB grew from 30 to 72 percent.
Last year, Avia Solutions Group and Agrorodeo, which are not even on the candidate list, immediately took 394 and 402 places in the TOP 500 ranking, respectively. Avia Solutions Group’s turnover grew by up to 40% last year. and amounted to 607 million. Agrorodeo’s turnover increased by up to 72% to 601 million euros. EUR. Another newcomer to the list, Linas Agro AB, was ranked 430, the company’s turnover last year increased by 30%, to 571 million. EUR.
Stable up to 7 percent. Sanitex, Palink and Kauno grūdai grew
Last year, several companies stood out for their stability and insignificant growth: Sanitex rose 7 positions from 203 to 196 seats, turnover increased by 7%, to 1,099 million. Palink rose 4 positions from 352 to 348 positions, increased its turnover by 4% to 678 million. EUR. And Kauno Grūdų’s place in the new rating improved by 3 places (it was 444, it became 441), the company’s turnover grew by 7%, to 563 million. EUR.
Ignitis Group and Neo Group suffered the deepest drop on the list, losing up to 76 positions
Through hair, the Neo group company remained in Coface’s TOP 500 ranking: the company, which showed a strong jump last year, lost 76 positions this year and fell to 499. The annual turnover of this company decreased 6%. and amounted to 509 million. EUR. During the same period, Ignitis Grupė (ex AB Lietuvos Energija), whose revenues last year grew by 5%. and amounted to 1,079 million. Eur, dropped 39 positions on the TOP 500 list this year and was ranked 199 (last year it was 160).
MG Baltic Concern dropped negligible positions in Coface’s rating, which was 364 last year and fell to 367 places this year. The group’s turnover grew 2% last year. and amounted to 644 million. EUR.
“As we can see from the list of the top 500 largest companies in the Central and Eastern Europe region, Lithuanian companies are currently managing to strengthen their positions in the international market. However, the companies that grew more than 20% were the that further increased their competitiveness, says M. Štareika. – Due to the impact of the pandemic, we can see the fall of oil companies and car manufacturers in the ratings next year. On the other hand, it is likely that the ratings of pharmaceutical companies and retail chains. “
The number of Latvian companies increased to 8, while that of Estonia decreased to 6
Like last year, Uralkali Trading ranked highest (94) among Latvian companies, losing 15 positions compared to 2018. The company’s turnover last year fell by 2 percent. and reached 1.9 billion. EUR. Of the companies operating in Latvia, only Maxima Latvija (267, there were 276) and Elko Grupa (114, there were 122) rose by 9 positions. Other companies downgraded: Rimi Latvia (from 231 to 240), Latvenergo (from 235 to 263), Orlen Latvija (from 407 to 448). This year, a Latvian company, Severstal Distribution, entered the ranking for the first time and immediately took the 333rd position. These companies in 2019. the turnover amounted to 706 million. EUR.
Eesti Energia begins the list of Estonian companies in 227 places (last year it was 238), having grown by 9% last year. and reached 956 million. Turnover in euros.
The list is continued by Tallink Group (231, they were 214), which kept stable 949 million. Euro turnover. Newcomer NG Investeeringud follows in the ranking (position 252, 873 million euros), the retail chain Tallinna Kaubamaja Grupp (position 325, there were 332, turnover increased by 5% to 717 million euros). NT Bunkering climbed to 376 on the list of 111 positions (487), with an annual turnover of 30%. up to EUR 634 million. The list of Estonian companies is completed by Ericsson Eesti, which dropped 78 positions, from 317 to 395 positions. The company’s turnover fell 14 percent last year. up to EUR 607 million.
Top 500 Central and Eastern European Oil Companies, Car Manufacturers and Traders from Poland, Czech Republic, Hungary and Slovakia
In the TOP 500 ranking compiled by Coface, the largest companies in the Central and Eastern European region remain oil and petroleum refining companies, as well as commercial companies and car manufacturers. The Polish oil company Orlen has been in the first place for many years, last year its turnover grew by 1%. and amounted to 26.1 billion. EUR. The Škoda Auto plant in the Czech Republic ranks second, with a 10% increase in turnover last year. up to EUR 18.1 billion. In third place is the Hungarian company MOL Magyar Olaj- és Gázipari Nyilvánosan Működő Részvénytársaság (turnover decreased by 1% to 15.9 billion euros). The Polish company Jeronimo Martins Polska won fourth place with an annual turnover of 13.1 billion. Volkswagen Slovakia, which operates in Slovakia, ranks fifth (€ 10.4 billion).
In total, there are 163 Polish companies in the TOP 500 list, Czech Republic – 78, Hungarian – 73, Romanian – 58, Slovak – 35, Lithuanian – 22, Bulgarian – 18, Slovenian – 18, Croatian – 13, Serbian – 8, Latvian – 8, Estonia – 6.
The data shows that the gross revenue of the 500 largest companies in the Central and Eastern European region grew by 5.5%. up to EUR 740 billion. The turnover of 373 companies (74.6%) increased, while 127 (25.4%) companies remained the same or decreased. Up to $ 1,480 billion The average annual turnover of a company increased by 1,396 million euros a year ago. EUR.
For the twelfth time, Coface’s ranking of the largest companies in Central and Eastern Europe included companies from Bulgaria, the Czech Republic, Estonia, Poland, Croatia, Hungary, Romania, Latvia, Lithuania, Serbia, Slovakia and Slovenia with a turnover of at least 300 million in 2019.. euros. This list does not include financial service providers, banks, insurance companies, leasing companies, and brokers. Companies that did not provide financial data by that date were also excluded from the rating. The CEE TOP 500 ranking prepared by Coface includes not only corporate income, but also net profit, the annual variation in the number of employees and other indicators.
More than 70 years of experience and a dense network of representative offices have helped Coface to become one of the world’s largest commercial credit insurance and risk management companies. Worldwide, more than 50,000 people use Coface services. customers. Coface services and solutions protect and help companies make informed credit decisions to increase their ability to sell more in domestic and export markets. The company’s turnover in 2019. amounted to almost 1.5 billion. euros.
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