NIS generates the most, FAS records the biggest growth – TOP 500 companies in Serbia list presented

The Oil Industry of Serbia (NIS) is the largest company in Serbia in 2012 – with a business profit of more than EUR 2 billion and net profit of EUR 402,489 mil; it has been announced today at the presentation of the social publication of the weekly NIN - Top 500.

Taking everything in consideration, for the previous year it could be said that it was a year of return to recession, after a slow recovery in 2011. Looking at the business of 500 largest companies in Serbia, generating more than half of the revenue of all companies, important business trends in our country can be analyzed it was said in the publication which a team for the economic researches of the Hypo Alpe Adria bank prepared in cooperation with Certus Consalting and the weekly NIN.

The largest companies in Serbia did a solid job in crisis times regardless of the mutual loss in 2012 – it is one of the conclusions of this research.

This special publication provides this year for the second time an overview of 500 largest companies in Serbia, measured by business revenues. The latest list shows that Elektroprivreda Srbije, Telekom Srbija, Delhaize Srbija, Srbijagas, Tarkett, Mercator S, Delta Holding, Victoria Group and Koncern Farmakom follow NIS.

Revenue increases, profit decreases

During the previous year, 500 of the largest companies generated a growth in business profit of some 3,6% in real RSD, i.e. 0,7% in euros. Their total business profit totals EUR 37,7 billion and they together have EUR 11,7 billion of credit (which is some 40% indebtedness of all companies in Serbia). Apart from that, 390.000 of people work in the top 500 companies in Serbia,

Aleksandar Ilic, the Executive Manager at Certus Consulting explained that, observing in euros, 300 companies recorded growth and 200 of them a fall in business profit.

Fiat automobili Srbija (FAS) – recorded the largest increase of business profit of 435, 1%.

- It is important to mention that EBITDA is on a slight increase. But, on the other hand, total net profit of the largest 500 companies has significantly fell form EUR 1,352 billion in 2011 to EUR 174 mil in 2012 – Ilic says.

When it comes to profitability, 78% of the biggest companies last year was "in plus" and they totally generated a profit of EUR 1,843 billion. NIS is the first on the list and the oil company generated more than fifth of the overall net profit of all companies listed at Top 500. Telekom, Telenor, PTT Srbija and Tarkett follow.

On the other hand, although only some 22% of the companies listed at Top 500 generated loss, it totaled almost the loss of the companies which were positive and totaled EUR 1,669 billion.

Otherwise, losers listed at Top 500, generating the smallest loss are state-owned companies with a stake of 61% of total loss.

The first place of the inglorious list goes to Srbijagas (a loss of EUR 330 mil). Zeleznice, Petrohemija, EPS, VIP mobile, Putevi Srbije, Delhaize Srbija, Inter-kop, Galenika and Velefarm in bankruptcy follow.

The importance if the domestic private capital on the increase

The largest companies in Serbia listed 257 of them with the biggest domestic private ownership, 190 of foreign and 53 state-owned. Judging by the growth of business profit which foreign companies generated in our country, the importance is on the relative increase year in year out. Net profit of constant direct investments (SDI) from the list of 500 the biggest companies in the last year totaled some EUR 600 mil, EUR 400 mil generated by NIS only.

Still, if foreign direct investments have bigger importance for the economy of Serbia, importance of domestic private capital is on the increase as well - without NIS, mutual result of domestic and foreign private capital is similar.

- Still, we should not forget that the domestic capital is much more indebted in comparison to foreign which is significantly still in the developmental stage, Ilic explained.

The fact that a fair number of direct investors continues to invest and expands capacities proves that they run business successfully in Serbia, Ilic adds.

(FAS registered a huge growth of business revenues)

The largest number of wholesellers

Wholesale trade, food industry, construction, retail and agriculture make the majority at Top 500 However, the largest sum turnover was recorded by the energy sector, then wholesales and agriculture-food complex.

New companies at the list in 2012, 72 of them, are mostly from agriculture, trading in agricultural products, food and metal industry.

Due to leave of U.S. Steel, metal industry has recorded a fall, she adds.

The most profitable industries are IT, lotteries, construction material, agriculture, food and beverage. The least profitable, if observing the overall sector, were medicine production, retail sales and transport.

Old disease called illiquidity

- A trouble spot of the Serbian economy, which we stressed out in the previous publication, is illiquidity – Atanasijevic reminded.

It is a traditional disease in large governmental systems and large retail chains.

- The lacking illiquidity in large governmental systems is on the increase while delays in payment operations of retail chains are decreasing. The arrival of Delhaize also contributed a lot to the issue of Maxi's debts - Atanasijevic added.

What is next?

The results of this publication showed are important, first of all because they can provide conclusions for the future.
- A mix of large governmental systems which operate with the lacking liquidity has a great role in economy of Serbia through relations buyer-supplier with other economy segments, so one part of their (un) success transfers to the rest of the economy - Jasna Atanasijevic explains and adds that there is no dilemma that the implementation of the financial discipline is the right way to go.

The state which would control budget deficit and public debt thus avoiding the problem of domestic investments flow out and decreasing risk perception of the whole country should provide important support to the financial discipline of the economy.

Top 10 for business profit (in million euros)

1. NIS 2.069 (in 2011 also 1st place)
2. EPS 1.638 (in 2011 2nd place)
3. Telekom Srbija 1.056 (in 2011 3rd place)
4. Delhaize Srbija 912 (5)
5. Srbijagas 658 (6)
6. Tarkett 558 (10)
7. Mercator S 528 (9)
8. Delta Holding 507 (4)
9. Victoria Group 488 (10)
10. Koncern Farmakom MB484 (14)

Top 5 for business profit growth

1. FAS (435,1%)
2. Gradjevinska direkcija Srbije 363,1%
3. RST Corporation 215,4%
4. CRBC Serbia 178%
5. Kompanija Jovanovic 177,5%

For more detailed information and more data on business operations of TOP 500 companies in Serbia in 2012

click here to download the PDF file

Addiko bank ad Beograd

Certus Consulting d.o.o. Beograd

NIN Beograd

NIS a.d. Novi Sad

Akcionarsko društvo Elektroprivreda Srbije Beograd

Telekom Srbija a.d. Beograd

Delhaize Serbia d.o.o. Beograd

Tarkett d.o.o. Bačka Palanka

Mercator-S d.o.o Beograd

Delta Holding d.o.o. Beograd

ADM Nutrition Holding d.o.o. Beograd- privredno društvo obrisano iz registra

Koncern Farmakom MB Šabac

FCA Srbija Kragujevac

Sunoko d.o.o. Novi Sad

Comtrade

Železnice Srbije a.d. Beograd

A1 Srbija d.o.o. Beograd

HIP- Petrohemija a.d. Pančevo

JP Putevi Srbije Beograd

Inter-kop Mišar, Šabac

Galenika a.d. Beograd

Velefarm a.d. Beograd

Gorenje d.o.o. Beograd

Leoni Wiring System Southeast d.o.o. Prokuplje

Grundfos Srbija d.o.o.

ALFA-PLAM DOO VRANJE

China Road and Bridge Corporation Serbia ogranak Beograd

Železara Smederevo d.o.o.

Građevinska direkcija Srbije d.o.o. Beograd

Russian-Serbian Trading Corporation a.d. Novi Sad

The best companies in Serbia

the largest companies in Serbia

the best companies Serbia

the largest companies Serbia

the biggest companies 2012

the best companies 2012

the most successful companies 2012

the biggest losers 2012

NIN

NIS

EPS

Delhaize Serbia

Tarket

Merkator S

Victoria Group

Hypo Alpe Adria bank

FAS

Fiat

Aleksandar Ilic

Comtrade

Petrohemija

Vip mobile

bankruptcy

SDI

purpose industry

Jasna Atanasijevic

US Steel

metal industry

car industry

whole sales

retail

agricultural industry

food industry

chemical industry

medicines

retail chains

illiquidity

liquidity

GDS

Kompanija Jovanovic