October 3 (SeeNews) - Romanian car maker Automobile Dacia, a unit of France's Renault, retained its position as the biggest company in Southeast Europe (SEE) in terms of total revenue for 2016, the SEE TOP 100 ranking released by news agency SeeNews on Tuesday showed.
Automobile Dacia raised its revenue by 8% to 4.619 billion euro in 2016 and increased its net profit to 100.5 million euro from 99 million euro a year earlier, taking the leading position in the tenth annual ranking SEE TOP 100 (http://top100.seenews.com/) of the largest non-financial companies by total revenue in SEE prepared by SeeNews. The ranking covers companies registered in Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Moldova, Montenegro, Romania, Serbia and Slovenia.
You can download the 2023 Automotive industry in Southeast Europe report here
The car maker leads in the ranking for a third year running, as its robust performance is in lockstep with the growth of the automotive sector across the region.
Growing domestic demand amid historically low inflation and a pick-up in private investment and employment continued to drive economic growth in SEE in 2016. Economic tailwinds benefited most retailers and car makers – the two industries most sensitive to changes in disposable income and consumer sentiment. At the same time oil and gas majors, which traditionally dominate the ranking of the biggest companies in the region, continued to suffer losses, impacting the aggregate revenue of the SEE TOP 100 entrants. The combined net profit of the 100 biggest companies, however, rose by a hefty 39% as compared to the profit of the prior-year entrants.
Companies from Romania, the region's biggest and best performing economy, dominated all the rankings. Romania has 59 representatives in the SEE TOP 100 ranking, up from 55 a year earlier.
The SEE TOP 100 publication also features rankings of the biggest banks and insurers in the region, topped by Romania's Banca Comerciala Romana and Slovenia's Zavarovalnica Triglav [LJE:ZVTG], respectively.
Banca Comerciala Romana climbed to the top spot in the ranking of the biggest banks in the region on the back of a 7.75% rise in assets to 14.1 billion euro. Its net profit, however, fell to 195.1 million euro from 212.9 million euro.
Slovenia's Zavarovalnica Triglav [LJE:ZVTG] held on to the position of the region’s biggest insurer in 2016 as its gross written premiums edged up by 1.17% to 593.1 million euro.
($=0.8513 euro)
Automobile Dacia SA is among the biggest companies in SEE. You can download our SEE Top 100 ranking
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