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A third of 500 greatest companies come from regional economic force Poland

Apart from a few changes in company rankings, the group of top 10 is interesting for the trends underlying the entire 500 greatest. The first is domination of Polish companies among the ranking greatest. Out of 10 companies with highest last year revenues, four come from Poland, including PKN Orlen, the largest Central European company.

The Polish oil concern ‘PKN Orlen’ retained its leading Central European position in 2007. Even without a 24% revenue growth compared with 2006, this Polish company with its income from sales of almost €17 billion (approx. HRK 124 billion) is far ahead the second ranking company. This position was again taken by MOL this year but with a difference in revenues compared to the first ranked of almost three times higher this year. The reason lies in the revenue and profit drop of this Hungarian oil company which resulted in MOL losing its first ranking position this year among the top profit makers: it was overtaken by ČEZ with a net profit of €1,5 billion.

This year rankings of 500 greatest Central European companies, which was prepared by Deloitte consultancy based on 2007 business results and published exclusively by Lider, has faced a few more changes among top ten companies. Top business rankings usually seldom change. However, economic growth in most Central European countries underwent a boom last year and influenced business operations of leading regional companies. Recording an 82% revenue growth, the Polish energy giant PGE is ranked fourth with the €7,4 billion in revenue last year.

Ranks of top ten companies were also joined by Ukrgaz-Energo, which recorded enviable revenue growth of almost 100%, pushing Naftogaz from the 4th into 42nd place. This plunge is explained by the reorganization of Ukrainian gas operations. In early February 2006 the Agreement between Ukrainian Naftogaz and Russian RosUkrEnergo was signed regarding the establishment of the joint venture company for the management of the Russian gas supply to Ukraine. The new company is called Ukrgaz-Energo. Since its operation did not extend over the entire 2006, last year rankings acknowledged gas revenues to Naftogaz.

Other changes among top 10 include a departure of Polish Nokia, ending up 13th. The last change among the top ten is the ranking switch between Slovakian Volkswagen and Hungarian Audi caused by a 24% revenue increase of Audi’s Hungarian office.