INA best in the region, NIS in Serbia - Coface publishes list of most successful companies in the Adria Region

With a turnover of about EUR 3.59 billion, Croatia's oil and gas company INA is the most successful company in the Adriatic region, and it tops the Coface Adriatic/Balkan Top 50 list for the year 2012.

This unique ranking list based on the turnover of the largest companies in six countries of this region (Bosnia-Herzegovina, Croatia, Macedonia, Slovenia, Serbia, Montenegro) has been published by Coface for the second consecutive year.

Oil company INA has managed to keep the first place on the list despite a mild decrease in its turnover comparing to 2011 (-2%). Slovenia's Petrol (EUR 3.26 billion, +14%) ranks second, while the Petroleum Industry of Serbia (NIS) (EUR 1.99 billion, +21%) is third. This means that top three places are still firmly held by three oil and gas giants, just like in 2011.

The fourth-ranked company is Slovenia's power company Holding Slovenske Elektrane d.o.o. (with a turnover of EUR 1.96 billion, +43%), which climbed three places from 2011. It is followed by Croatia's retail company Konzum DD (EUR 1.78 billion, +1%).

According to the ranking list, the overall revenue of the largest companies in this region grew 5.6 percent in 2012 to about EUR 41 billion, but the net profit dropped 1.2 percent in the same period. These top 50 companies employed nearly 151,000 people last year (-3% comparing to 2011). Such developments show that, although these countries are on very different levels in terms of risks, 2012 was a very difficult economic year for the entire region.

Most large companies in the region have headquarters in Croatia

Sixteen of the top 50 companies in the region are headquartered in Croatia, but this country ranks second in the volume of turnover. Fifteen Slovenian companies among the top 50 in the region reported the largest turnover. Thirteen companies of the top 50 are situated in Serbia, four in Macedonia, and two in Bosnia-Herzegovina. No company from Montenegro made it to the final top 50 list.

Although companies from Croatia, Slovenia and Serbia are among the top 5 on the list, the largest Macedonian company ranks 20th, while the largest player from Bosnia-Herzegovina is 32nd.