The top ten largest private companies on the Romanian market posted around 14 billion euros in turnover last year, i.e. 12% of Romania's GDP, 4 billion euros less than the amounts collected by the top ten companies in 2008, Ziarul Financiar reported.
The leader did not change after the first year of crisis, with Petrom remaining the biggest Romanian company, despite recording the second-biggest turnover decline, by over 30%. The local giant posted a little over 3 billion euros in turnover, almost 1 billion ahead of the second-ranking company.
The only climbers in the top 10 were Automobile Dacia, with sales driven by exports, not by the internal market, British American Tobacco (BAT - Kent producer), amid a price increase, and Kaufland, a retailer that saw a major expansion in 2009. BAT in fact also saw the most spectacular advance in the top 10, climbing from no. 14 to no. 7.
"Any two-digit decline is very significant if we draw comparisons with a company in Europe or in America, where a one or two percent drop is a tragedy. There are sectors where 30% declines exceed profit margins. Companies end up losing money instantly," said Doru Lionachescu, main partner of Capital Partners.
Source: Ziarul Financiar