Struggling to break the deadlock of low liquidity – an inherent problem for the SEE equity markets, aggravated further in recent years by the exit of big foreign investors and the high risk aversion of local players – the bourses’ CEOs see hope in the privatisation of state-held stakes. At the same time, in a bid to broaden their perspectives beyond their national horizons, they are continuing to make steps towards tighter regional cooperation.
The International Organisation of Motor Vehicle Manufacturers (OICA) has said that 80.1 million motor vehicles were manufactured worldwide in 2011, a 3.1% year-on-year increase in global automotive production. The number of passenger cars produced rose to 59.9 million from 58.3 million in 2010.
The combined output of motor vehicles in the three Southeast European countries manufacturing them in 2011 – Romania, Slovenia and Serbia – fell by 9.5% from 2010 to 525,141 units.
Forecasts for the next three years indicate recovery for both global and European automobile production.
Romanian and Croatian heavyweights dominate the top of the list of the largest companies by market capitalisation in Southeast Europe at the end of last year. Еnergy, oil, banking and telecommuncation groups lead the Top 100 SEE ranking of the companies traded on the regional stock exchanges.
The telltale signs of an economic recovery in Southeast Europe (SEE) were visible in both the top- and bottom-lines of the companies in the SEE TOP 100 ranking. The total revenue of the biggest companies in SEE increased by 15% year-on-year to 87.4 billion euro in 2010 after shrinking by 14% in 2009. The combined net profit of the top 100 firms jumped by 105% on the year to 2.3 billion euro in 2010, driven by the pursuit of costefficiency and the cautious spending mood among companies of all sectors.
The pharmaceutical market in Southeast Europe (SEE) continued to grow in 2010 despite the economic volatility brought on by the global financial crisis. Pharmaceutical sales in the region are still dominated by generic drugs, especially in terms of volume, due to low per capita income and underinvestment in research and development activities focused on new medicines.