The Polish company PKN Orlen took first place in the evaluation, the Czech Škoda Auto is second and the Polish Jeronimo Martins third.
“Although the economies of Central and Eastern Europe have adapted to the new pandemic environment, a positive view of them is called into question by the development of the global and European economy. In 2020, the 500 largest companies in Central and Eastern Europe faced declining sales. Revenues of the 500 largest companies decreased by 3.3 percent to 667 billion euros, “said Ján Čarný, CEO of Coface ČR and SR.
The Czech Republic again ranked second behind Poland in the region with 15.4 percent of all companies in the CEE TOP 500. Turnover of domestic companies fell by 8.6 percent, while net profit fell by 33.9 percent. There are a number of car manufacturers in the Czech Republic that remain a pillar of the industry. The automotive industry and transport thus remain the most dominant in the ranking of Czech companies.
- Coface operates in credit insurance.
- Coface CEE Top 500 publishes an overview of the 500 most important companies in Central and Eastern Europe every year, for the thirteenth time this year.
- The survey presents the ranking of companies by turnover and also examines other aspects, such as the number of employees, the scope of operations, industries and markets, and also the credit rating according to the Coface methodology.
The Polish company PKN Orlen remains in first place, but its turnover fell by 23 percent. The Czech Škoda Auto came in second. Thanks to the increase in turnover, the Polish Jeronimo Martins, which is originally a Portuguese business group that owns, for example, the major retail chain Biedronka, moved to third place.
“Household consumption, which began to recover in the second half of 2020 due to the good condition of labor markets, contributed to the growth in the region of Central and Eastern Europe. Rising employees’ wages and labor shortages returned quickly, which put pressure on margins, “Čarný pointed out.