Annual ranking of the biggest companies in Southeast Europe
The oil and gas industry, the biggest in the region, posted a slight decline in total revenue and a sharp fall in profit. Pharmaceuticals remained the most profitable industry with a 13.35% return on revenue.
Oil and gas firms increased their number on the list of the 20 SEE companies with the heftiest losses in 2011 to nine from seven in 2010. Analysts attribute the increase to the rise in global oil prices that continued to depress the bottom line of the oil companies in the region, which are involved mostly in refining. Four firms on the list are units of Russian oil major Lukoil.