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Czech companies affirm their strong representation among

Czech Companies Scored in the List of the Largest Central European Enterprises which is Prepared Annually by the Advisory Firm Deloitte

Czech companies affirmed their strong representation among the 500 largest firms in Central Europe. According to the latest Central Europe Top 500 study prepared by Deloitte, the Škoda Auto automobile company took the highest position among Czech companies in the list prepared on the basis of the 2007 revenues, preceded only by the Polish oil corporation PKN Orlen and the Hungarian MOL Group. The ČEZ electrical company was in fifth place, having the best return on capital of all the monitored companies.  

With its 70 companies which were included in the latest CE Top 500, the Czech Republic took third place in the number of candidates, preceded by Poland (176 companies) and the Ukraine (75 companies). This year the number of Czech companies decreased by 10 in comparison to 2006. With regard to the amount of income, Czech firms took up more than a 15 percent share among the 500 largest Central European companies, preceded only by Poland.

Among the top 30 companies within the CE Top 500 were Unipetrol, the electronics producer Foxconn and the Agrofert group. Other Czech companies took a lead in individual areas of CE Top 500: Škoda Auto Mladá Boleslav was highest among the industrial companies; in the bank chart, ČSOB's volume of assets was greater than the one of Pekao, Poland’s number one; the construction sector was lead by Skanska CZ and Metrostav.
 
Deloitte professionals evaluated companies from 14 countries: the Czech Republic, Bulgaria, Croatia, Estonia, Lithuania, Latvia, Hungary, Macedonia, Poland, Romania, Serbia, Slovakia, Slovenia and the Ukraine. The list confirmed the leading position of energy corporations and car producers. Outside these areas, only one company, the Polish operator Telekomunikacja Polska, ended up among the top 10 companies. The major foreign investors in the region include the German Volkswagen, the Arcelor Mittal steel group and the Metro chain of stores.
 
The study emphasizes that Central European countries will maintain approximately a five percent economic growth and therefore a faster pace in comparison with the more advanced Western Europe only if the economic reforms, mainly privatisation, continue. Deloitte’s exclusive interviews with the heads of the largest central European companies also resulted in a warning that the region can no longer rely on the great interest of foreign investors. The costs of work force are growing and European post-communist countries are ceasing to be “cheap” for western companies. Above all, it is necessary to proceed with changes in education, Deloitte emphasized.

www.deloitte.cz