Annual ranking of the biggest companies in Southeast Europe
Companies from the electricity, oil and gas sectors topped the 2021 ranking of the most profitable companies in SEE, extending a trend that had started a year earlier. At the same time, however, energy price volatility led to major losses for some sector players.
Romanian state-owned hydropower producer Hidroelectrica claimed the top spot in the ranking of the most profitable companies among the SEE TOP 100 entrants for 2020 for a second year in a row. Hidroelectrica’s return on revenue rose to 36.9% from 32.27% a year earlier. In 2020, the company sold 14.58 Twh of its own electricity production, 1.3% less than in 2019, while total electricity sales edged up 0.7%, to 15.96 Twh. In 2020, a two-year ban on the sale of state-held stakes in companies enforced by the government delayed the planned initial public offering (IPO) of Hidroelectrica. The IPO of a 10-15% stake in the company is expected to be the biggest in Romania’s history, seen fetching up to 1 billion euro. The company has in its portfolio 209 hydropower plants with a total installed capacity of 6,482 MW.
Energy companies hold the top three spots in the 2020 ranking of SEE companies by revenue per capita, led by Slovenia’s Petrol, which had the highest revenue per capita for the fourteenth consecutive year. The company decreased its revenue per capita to 1,176 euro in 2020 from 1,747 euro in 2019.
Zagorka, a leading Bulgarian brewer and part of the Heineken group, is implementing a long-term sustainability platform “Brewing a better world” which aims to focus on six key areas – protection of water resources, reducing carbon emissions, growing with ...
By Mariyana Yaneva, Managing Editor, Renewables Now When you think of business innovations for a low-carbon economy, Southeast Europe (SEE) may not be the first thing that comes to mind but the region sure has some jewels to show to green business Croa ...
By Tsvetan Ivanov, Business Analyst, SeeNews The European Union defines the ultimate goal of electricity market liberalisation as achieving a secure, competitive and sustainable energy supply to all EU citizens and the economy. The measures for reac ...
Janez Kopac, Director of the Energy Community Secretariat As countries in Southeast Europe (SEE) make steps towards the liberalisation of their power markets, SeeNews talks to Janez Kopac, Director of the Energy Community Secretariat and for ...
by Mariyana Yaneva, Renewables Now Managing Editor Viewed in a climate change context, energy consumption frequently represents businesses’ single largest contribution to greenhouse gas emissions. Hence, turning to renewable energy is the obvious solutio ...
Under the European Union’s (EU) 20/20/20 climate and energy targets Romania, Bulgaria and Greece have to boost the share of renewables in their energy mixes to 24%, 16% and 18%, respectively. The countries have chosen different mechanisms to achieve these goals and each one is struggling with its own challenges.